Just about every morning, IDEAS Engineering and Technology CEO and president Alonzo Vera, Ph.D., downs his coffee quickly and heads out the door to work. And why wouldn’t he hurry? After all – he can’t wait to keep working on what he loves: Reaching for the stars.
“Hard work and determination – with a dash of luck – are some of the necessary ingredients to create and launch a new venture,” notes Vera. He adds that having fun is one of his top ingredients, too. “Of course, you have to find the right blend of people to complement your style and share your vision. And having a true passion for what you want to build and accomplish is key, too. But fun – a genuine love for what you do – along with an insatiable curiosity to keep inventing and growing, will sustain you through both good times and bad.”
Based in Albuquerque, IDEAS Engineering and Technology is an aerospace company providing innovative, cost-effective digital design and embedded systems engineering services at all stages of the R&D process for the defense and space industry. Clients include public and private companies as well as the U.S. government.
Vera, an electrical engineer, began developing plans to launch the company in 2011 – jump-starting it at early morning coffee club meetings, where he says he went over his “evil plans to take over the world, one cup o’ joe at a time.” The startup landed its first project in 2014, after which Vera was able to quit his previous job and jump full-time into his new venture.
Today, IDEAS Engineering and Technology has four partners and 18 employees. The organization is growing steadily, with 2021 revenues hitting $2.2 million. In that same year, and for the fourth time in four years, IDEAS was included on the New Mexico Technology Flying 40 list, which recognizes the state’s high-tech growth leaders.
So, how did Vera know he really wanted the uncertainty of running his own company? He says the push he needed was found in his experience working for small engineering companies, where he was never satisfied with “it’s good enough.” He always believed his teams could do more, and knew he had more to give, too. “I’d always wanted to push projects farther, and I knew that could only happen if I was running my own team,” he said. “Basically, I wanted to make into reality what was in my head.”
As with most new businesses, there was a learning curve. Four things that Vera knows now that he wishes he knew then.
1. Engineers can be arrogant. “As an engineer, I believed I could do it all – to be the receptionist, accountant, lead investigator, and engineer, all at the same time. I learned quickly that I had to find the right people with the right skills to help the company grow.”
2. Finding the right people is really hard. “After much trial and error, we have found success in hiring young engineers right out of school, or with just a few years of experience. We identify people who are curious and ambitious, with a thirst for learning and doing new things.”
3. Keep believing. “There have been some moments when I thought, was this a good idea? This is where you must find what you do interesting and fun. If it is, you keep working at it.”
4. Work with a financial institution that believes in you. “We met someone at the Flying 40 celebration that recommended Sandia Laboratory Federal Credit Union for business banking. At other banks, we were treated as just one more client. At SLFCU, our lender Priscilla Pollock immediately became part of our team. She’s invested in helping our company succeed. She has faith in us, and they financed a building that needed extensive renovations.”
Vera said these are very exciting times in the aerospace industry, with New Mexico technology companies like his poised to play important roles in galaxies far, far away. For example, IDEAS is developing components for technologies that help run satellites – at a tenth of the cost of a formerly million-dollar project. “We are definitely pushing to be part of this new space age.”
“In business, it’s easy to get cynical, or to lose the ‘eye of the tiger.’ I love what I do and find my work engaging and fun. If it all went to hell – I’d still do it all over again,” he said.
Want to work with a business that believes in you and your company? Sandia Laboratory Federal Credit Union is the local choice for business and commercial lending. We'd be pleased to meet you. Contact Priscilla Pollock at ppollock@slfcu.org.
