Mayor’s Prize Awards $200K

The second annual Mayor’s Prize doles out big bucks to organizations creating a stronger entrepreneurial ecosystem in Albuquerque

Four Albuquerque organizations won a total of $200,000 this month as part of the Mayor’s Prize for Entrepreneurship. The prize – funded by a partnership between the Albuquerque Community Foundation, the Ewing Marion Kauffman Foundation, and the City of Albuquerque – supports nonprofits dedicated to building and growing local businesses. The four winning organizations chosen out of a group of 16 competitors include: CNM Ingenuity, Creative Startups, Nusenda Credit Union Foundation and WESST.

All four winners plan to use the money to support Albuquerque’s up-and-coming entrepreneurial ecosystem. CNM Ingenuity will use their share to fund FUSE Makerspace, an incubator and resource center for entrepreneurs. Creative Statups will allocate the funds to a 16-week bootcamp for UNM students studying in the creative tech and innovation fields. Nusenda’s Co-op Capital will continue to provide low interest, small business loans to entrepreneurs outside of the traditional loan system. And WESST – a second time winner of the award – plans to devote more funds to their Creative P.I.E. (Practice, Innovation, and Enterprise) program, offering professional and business resources for creatives.

The winners were chosen from a panel of nine representatives from local and national organizations. The panel was specifically on the hunt for innovative but sustainable ideas to better the entrepreneurial experience in Albuquerque.

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