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Stronger than the pandemic: Few, if any, NM startups failed in latest downturn


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The Lobo Rainforest building was largely empty during the pandemic, but Rainforest Innovations maintained programming online. (Jim Thompson/Albuquerque Journal)
ALBUQUERQUE, N.M. Long-time angel investor and serial entrepreneur John Chavez had an unenviable front-row seat during the economic devastation wrought by the Great Recession in 2008.
John Chavez
At that time, New Mexico’s incipient startup ecosystem had limited resources to support many struggling businesses that had recently launched prior to the crisis, and investors like Chavez could do little as numerous startups crashed and burned in the downturn.
Now, 13 years later, it’s a very different story as the state and country emerge from the pandemic, which plunged the economy into a far-worse crisis than the one a decade ago. This time, the local ecosystem was well-prepared to weather the storm, armed with a ....

Central New Mexico Community College , New Mexico , United States , University Of New Mexico , Aliciaj Keyes , Janne Haines , Jim Thompson Albuquerque , David Blivin , Kramer Winingham , Rob Delcampo , Brian Birk , Lisa Kuuttila , John Chavez , Innovation Academy , Job Training Incentive Program , Mexico State University Arrowhead Center , Arrowhead Center , Economic Development , Severance Tax Permanent Fund , Arrowhead Economic Research , Investment Council , Cottonwood Technology Funds , Investment Fund , Paycheck Protection Program , Lobo Rainforest , Rainforest Innovations ,