New Accelerator Pumps Water Tech

Village Capital, a Washington, D.C.-based accelerator that encourages aspiring entrepreneurs to address social issues, launched the first of three four-day, intensive training workshops to help 12 startups move new water technologies and services to market 

This is the fourth accelerator program to operate in Albuquerque as part of the city’s emerging “grow-our-own” economic development strategy, said Albuquerque Economic Development Department head Gary Oppedahl. That strategy promotes homegrown entrepreneurial innovation to build the local economy, rather than concentrating solely on recruiting businesses from elsewhere.

Accelerator programs are a critical tool to help startups get training, mentoring and access to resources they need.

“The flywheel has started turning, and we’re seeing some real companies coming out of these programs,” Oppedahl said. “We want to keep this model going. Village Capital is the newest accelerator, but I don’t expect it to be the last to open here.”

Unlike Albuquerque’s other three programs — ABQid, Central New Mexico Community College’s IGNITE Community Accelerator and Creative Startups — Village Capital recruits companies that focus on resolving social issues it sees as critical, in cooperation with the local communities where it operates. In this case, Albuquerque officials asked Village Capital to focus on water issues, seeking companies that want to develop new water-related products and services.

In other communities, Village Capital has focused on agriculture, education, energy, health and finance-related issues, said Dorian Rader, senior associate in Albuquerque for the Village Capital water program.

“Village Capital has offered a program in the past on water and energy, but this is the first one solely focused on water issues,” Rader said.

Source: ABQJournal

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