It's that step that we don't do very well in New Mexico. The newly launched incubator may provide one solution to that shortcoming by offering a safe haven for startups. If that effort succeeds, additional incubators may follow. Tenants benefit from common conference and break areas, secretarial and phone services, copying machines and other amenities. They'll get support from attorneys and CPAs in developing business plans and they'll be able to network with other entrepreneurs.
Visibility is crucial in the process of linking entrepreneurs with managers and venture capitalists.
It's also important within the incubator, as a good percentage of an incubating company's business can come from other incubator residents. Longserre points out that 85 percent of the businesses hatched in similar incubators are still in existence five years later. Catherine Zacher, president of the Chamber of Commerce, believes community support for the incubator, which has been strong, will continue to grow. I think once it's up and running, more and more chamber members will be willing to donate to the effort, whether with marketing help, business plan consultation, or financial expertise. Back to Top Dennis Wall, a freelance writer based in Santa Cruz, reports frequently for the New Mexico Business Journal.