Arrowhead Center at NMSU to host state’s first Startup World Cup competition in Albuquerque

Original Article | Carlos Murguia | cmurguia@nmsu.edu | July 26, 2024

New Mexico has been selected to join the 2024 Startup World Cup, a prestigious global competition organized by San Jose, California-based Pegasus Tech Ventures, offering a $1 million prize to the winner.

This opportunity will allow a New Mexico startup to compete for the $1 million prize at an event in San Francisco this October. The state winner will be selected through a pitch competition held at Arrowhead Center at New Mexico State University’s New Mexico Startup Forum Sept. 4-5 in Albuquerque.

The Startup World Cup is a worldwide contest that identifies finalists through regional competitions held across the globe, including several U.S. cities and regions in North America, South America, Europe, Asia, Africa and Australia. Launched in 2017, this marks the first year that New Mexico will participate.

Arrowhead Center will initiate the New Mexico regional competition for the Startup World Cup during the closing ceremony of the New Mexico Startup Forum. The pitch competition will feature contestants judged by a panel of venture capitalists, aimed at supporting startup growth.

“When the opportunity arose to host the Startup World Cup in New Mexico, we didn’t hesitate. Our community boasts numerous outstanding startups ready for international exposure,” said Dana Catron, deputy director at Arrowhead Center. “We are assembling partners, judges, mentors and industry leaders to support the startups throughout the pitch competition journey to identify our champion team.”

The 10 startups chosen to participate in the pitch event will be selected through various channels. Initially, the winners of the NM CERG Pitch Competition and the Scale Up New Mexico Pitch Competition will automatically earn a place. The remaining eight startups will be chosen through a rigorous application process.

A steering committee will choose the finalists who will present their pitches at the New Mexico Startup Forum. The eight finalists will be announced by Aug. 23. Although only one startup will be selected to compete in the Startup World Cup Grand Finale, all participating companies will have opportunities to network and establish connections with investors on the panel and in the audience.

“Partnering with Arrowhead Center for the Startup World Cup Regional in New Mexico has been exhilarating, and we are impressed by the caliber and passion of the startups competing,” said Anis Uzzaman, founder and CEO of Pegasus Tech Ventures. “Each year, our reach expands to more entrepreneurs in more cities worldwide, further connecting global innovation ecosystems.”

The winner of the Sept. 5 event will advance to the Startup World Cup in San Francisco to compete for the $1 million prize. The winner's travel expenses will be covered.

The application deadline is Aug. 21. Interested startups may apply at https://nmstartupworldcup.com/.

The New Mexico Startup Forum will take place at the Isleta Resort & Casino in Albuquerque. Additional information and event tickets are available at https://bit.ly/NM_Startup_Forum.

For more information about the New Mexico Startup Forum and sponsorship opportunities, contact Carlos Murguia at cmurguia@nmsu.edu.