A business incubator recently opened in Rio Communities wants to unlock the innovative potential of rural New Mexican entrepreneurs.
The Valencia County Business Incubator (VCBI) opened Sept. 10 at 360 Rio Communities Blvd. The incubator is uniquely tailored to help rural businesses outside of hubs in larger cities like Albuquerque and Santa Fe. And it comes with an innovative addition — a "virtual reality workstation" equipped with a VR headset.
The workstation allows tech-focused entrepreneurs to hold meetings in the metaverse or construct virtual reality offices or programs for potential clients to explore, said Ben Romero, interim executive director of the incubator.
"We want to show that we like technology, we like going with the future," Romero said.
For example, Romero said EXP Realty, a real estate company in communication with the incubator, wants to use metaverse technology to let customers visit homes without driving to different locations.
"We want to make sure that we provide the newest technology," Romero said. "Part of that is showing our dedication in adapting to however the workforce may change in future."
Aside from VR technology, the incubator offers a host of more traditional support services to entrepreneurs, like business consulting and mentoring. Businesses can also use available office space.
The incubator sprung from a 2017 feasibility study commissioned by the village of Los Lunas and the city of Rio Communities. They created a working group that received a $40,000 grant from the U.S. Department of Agriculture and $1,500 and $6,000 in seed funding from Rio Communities and Los Lunas, respectively, to complete the study.
Romero said the incubator is already nearing its goal set through the study of gaining 15 to 20 clients in its first two years of operation.
VCBI currently has three clients — GG Taxidermy, Bero LLC and Jeff Ruther Woodworking. MAD Macarons, a Los Lunas-based business, is also set to join as a client, Romero said. Eight other entrepreneurs are in the client intake process, he said.
Eventually, the incubator plans to open a commercial kitchen for food businesses to use, Romero said, while growing its number of clients to more than 25.
The incubator will keep people in Valencia County, said Ralph L. Mims, economic development consultant for the city of Rio Communities and the incubator's lead consultant.
"Some people will go to urban areas to seek jobs, but we want to create entrepreneurship and jobs within our rural community," Mims said.
VCBI earned 501(c)(3) certification last year, and the nonprofit has set a fundraising goal of $250,000. The state of New Mexico provided VCBI $25,000, Mims said, and other private businesses have also offered financial support.
The incubator plans to host an event on Oct. 19 for community and interested clients to connect with current incubator clients. Romero said more details about the event will be released in the coming weeks.
