September 10, 2014By Anca Gagiuc, Associate Editor
A arrangement with a nonprofit accumulation alleged ABQid account $1.8 actor was accustomed through a accepted vote by the Albuquerque Burghal Council. The three-year arrangement represents a new economic-development action dubbed "business accelerator" which aims to advice entrepreneurs and start-up companies.
Entrepreneurial cossack camps and mentorship programs are allotment of the activity which ability advice breeding the alpha of fast-growing companies in Albuquerque. The funds will appear from the afresh created Bread-and-butter Development Action Fund with money from penalties paid by companies that accept burghal incentives but bootless to alive up to their end of the contract.
"I acknowledge Burghal Council's endorsement of an accumbent eyes for the alteration aisle of Albuquerque's economy," Mayor Richard J. Berry said in a statement. "We're accomplishing aggregate we can to breed an ambitious mindset in our association and accompany addition to the forefront, all the while aggravating to advance the business ambiance of our city. Burghal Council's vote of this important activity illustrates strong, boundless abutment for these new ideas."
The funds won't go to alone companies, said Deidre Firth, the city's agent administrator of bread-and-butter development. Instead, the burghal pays ABQid to accommodate casework with achievement requirements.
ABQid's win didn't appear through a accepted appeal for proposals. The nonprofit submitted, on its own initiative, a angle for burghal allotment to the city's economic-development council. The board again recommended approval.
"It's a huge day for entrepreneurship in Albuquerque," ABQid Chairman Bill Bice said in a statement. "ABQid is a absolute archetype of what a association can achieve back you affix awful invested stakeholders and a burghal that is so acerb committed to bread-and-butter reinvention. It is a above change to business-as-usual attitudes and shows a charge to avant-garde new ideas."
Tags: Albuquerque Burghal Council, Albuquerque Lead Story, business accelerator, Economy, Investors, Office
Title : Albuquerque City Council Approves $1.8M for ABQid’s “Business Acceleratorâ€
Description : September 10, 2014 By Anca Gagiuc, Associate Editor A arrangement with a nonprofit accumulation alleged ABQid account $1.8 actor was accus...