More University of New Mexico startups staying in state

The Associated Press
New Mexico News

ALBUQUERQUE, N.M. — The University of New Mexico says 11 startups launched this past fiscal year to market UNM technologies. But this time, they all plan to stay in New Mexico.

The Albuquerque Journal reports Lisa Kuuttila, president and CEO of the Science and Technology Corp., the university's tech-transfer office, says it's the first time since the STC began publishing annual statistics on its program achievements for each fiscal year that not a single startup chose to relocate to other markets.

Kuuttila says It "reflects the growing support here for entrepreneurs seeking to launch and grow companies."

Kuuttila says More availability of early-stage funding is a contributing factor to the startups staying in New Mexico.

Kuuttila says eight of 12 startups marketing UNM technologies left for other states in fiscal year 2017.