Incubator Member Eligibility

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The purpose of business incubation is to bring resources and experience to young companies during their early years, the most vulnerable period of their existence. WESST will work with your company to enhance your management team’s skills in business disciplines including: marketing, bookkeeping, legal assistance, management, human resources, and other business areas as deemed necessary. Incubators provide office space, business instruction and shared amenities for early-stage companies in a symbiotic, collegial atmosphere. The standard industry incubation time is 18-36 months until the company grows and can afford commercial retail rates.

The following factors will be used to assess a company’s suitability for the WESST Enterprise Center:

  • Be willing to work with the WEC team, advisors, and mentors on development of the company
  • Be located or willing to locate in New Mexico and have an Albuquerque business license
  • Have 50% or more of its employees in New Mexico
  • Have a business plan, or executive summary (or be willing to work to complete one)
  • Have a management team in place or under development
  • Be a growth-oriented, for-profit company with potential for job creation
  • Show sufficient income or capital commitment to complete the incubation process
  • Be willing to hire from low-to-moderate income wage earner pool whenever possible
  • Not be a defendant in litigation
  • Company has filed both federal and state income tax reports and state CRS (gross receipts) for the years the company has been in business and has no past-due debt to a federal or state agency.
  • Company has no outstanding federal or state tax liens

Incubator Member Application Process

We welcome your application to the WESST Enterprise Center. That application process includes:

  1. Submission of Incubator Member Inquiry
  2. An interview with incubator Managing Director
  3. Submission of your company’s business plan
  4. Completion of incubator application including credit report on the owner and/or the company
  5. A 30-minute presentation to Admissions Committee
  6. Approval by the Admissions Committee