3 Reasons why it’s important that we invest in the next generation of entrepreneurs
posted on October 19, 2018 by Verge Fund staff
Siembra, the fourth Leadership Network High School, is proud to share a building with Verge Fund. To celebrate Global Entrepreneurship Week and almost one full semester being just footsteps away from the next generation of entrepreneurs, Verge Fund teamed up with the Center to reflect on the importance of investing in our youth.
“We believe that homerun technologies and companies can be created here, and we know that the teachers and students at Siembra Leadership High School believe the same. “
At Verge Fund, we believe New Mexico can reach its full potential and become an innovation-led economy. We have a robust startup community here in Albuquerque that continues to grow and affirm that we do have the ability to create world class companies with home-grown talent, research, and ideas. But it isn’t enough to just be a venture capital firm headquartered in Albuquerque: it’s about helping grow and nurture the next generation of entrepreneurs. Siembra Leadership High School, one of the first entrepreneurial-focused schools in the nation, and the first in New Mexico, is doing just that – And they’re doing it just a few feet away from Verge’s front door! Here’s 3 reasons why we feel that is important:
1.Entrepreneurship = innovation = better quality of life
Entrepreneurs find innovative ways to solve tough problems, problems that plague communities, individuals, and businesses alike. Successful entrepreneurs and their innovations improve standards of living, create wealth and jobs while providing a monetized solution. Think about these 12 billion dollar companies that didn’t exist 10 years ago: Airbnb, Uber, Snapchat, Instagram, Fitbit, Twitter, Spotify, Dropbox, Whatsapp, Tumblr, Hulu, and Pinterest. Combined, these 12 companies employ approximately 15,280 people with high paying jobs. If our up-and-coming entrepreneurs have a place and space where they can cultivate their ideas and garner investor dollars to put similar disruptive innovations to praxis, quality of life improves for everyone in the community.
2. Community Support
Entrepreneurs are more likely to be invested in other local entrepreneurs and startups that will in turn spur development and wealth within the community. If we teach our younger generations the importance of investing and nurturing local endeavors and projects, we will create a more stable future for them, and a more stable economy for our city and state. In order to sustain the momentum and support within our local entrepreneurial community we must have the ability to staff the companies created here in NM in order for them to be successful and remain here in NM. This starts by educating our youth, the next generation, to fill the jobs and roles created in our entrepreneurial ecosystem. An educated workforce as well as forward thinking individuals and organizations are the backbone of our entrepreneurial ecosystem.
3. Technological Advancements
Entrepreneurs are in the business of shaking things up and challenging the status quo by offering new products and services. Some of the most important inventions only came to market because entrepreneurs took significant risks, but without them, we wouldn’t be where we are today. We can go to specific examples from companies within the Verge portfolio that are disrupting markets in significant ways, like IntelliCyt – a company that was recently acquired by a German pharmaceutical and laboratory equipment company, Sartorius. IntelliCyt uses flow cytometry, technology licensed by UNM, to gain a better understanding of how to diagnose diseases and speed up the process of developing and discovering new drugs. This technology enables a more ‘personalized’ approach to medicine, and saves the patient time & money. Better still, IntelliCyt plans to stay in Albuquerque, which will continue to spur more high paying jobs and help advance our city as an innovation-led economy for the next generation of entrepreneurs. It is successes like these, developed here in NM, that will continue to garner support for our local entrepreneurial community. We believe that homerun technologies and companies can be created here, and we know that the teachers and students at Siembra Leadership High School believe the same.