ALBUQUERQUE, N.M. (KRQE) – New Mexico could become the next global tech hub. At least, that’s the opinion of CerraCap Ventures partner Ritesh Agarwal. The California-based company has steadily been growing its presence in New Mexico over the years, citing the technological infrastructure that already exists, thanks to entities like Sandia and Los Alamos National Labs.
According to New Mexico Inno, the company recently secured a multi-million dollar office space in the state, which will help to develop greater relationships with start-ups in technology, planet health, and commerce.
Agarwal says a major challenge the state faces is that entrepreneurs actually aren’t thinking big enough. He says many companies are thinking too small, with a myopic scope of where they see their company growing. Instead of securing funding in the hundreds of thousands, Agarwal says they need to ask in the millions -the idea being that the start-up capital needs to realistically support the timeline most new companies need to establish roots and grow.
Their carefully curated portfolio has companies around the world, and Agarwal says they hope to expand on the technology and innovation landscape New Mexico has been growing since the 1940s.
New Mexico Frontiers Digital Show is KRQE New 13’s online exclusive web series, giving viewers a more detailed look into how the state is making waves in the Aerospace, Bio-science, Renewable Energy, Digital Media and Film, and Advanced Manufacturing communities. For more segments on prior stories, visit the New Mexico Frontiers page by clicking this link.