ABQid selects record 14 companies for accelerator
ALBUQERQUE, N.M. – Last week, the ABQid board of directors chose 14 companies out of a field of 50 applicants for the Albuquerque business accelerator program. The companies selected will be announced Thursday.
ABQid business accelerator started last year with an award of $1.83 million from the city’s economic development authority to fund the program, which supports selected companies by coaching them through launch and testing to determine market and flesh out strategy until final pitch to investor groups.
Companies selected for the accelerator program each give 6 percent equity to ABQid and receive a stipend of $20,000 in exchange. Ten companies went through the accelerator program in its first year.
Source: Albuquerque Business First