SOCORRO, N.M. – New Mexico Tech and Nusenda Credit Union today signed an agreement bolstering the university’s mission to support the development and commercialization of intellectual property developed by faculty, staff, and students. This collaboration builds upon Nusenda Credit Union’s reputation as a longstanding supporter of higher education institutions by providing workspace to the New Mexico Tech Office of Innovation Commercialization – a visible sign of a strong commitment to higher education, innovation, learning, and invention.

The Technology Commercialization Accelerator (TCA), a program directed by the New Mexico Tech Office of Innovation Commercialization through a cooperative agreement with the Small Business Development Center Network, will co-occupy space with NMT startups adjacent to Nusenda Credit Union, located at 1019 North California Street in Socorro. A celebration of the partnership and agreement signing was held today at the facility with remarks from New Mexico Tech President Stephen Wells and Nusenda President and CEO Joe Christian.

President Wells told the attendees at the celebration that important technologies have been developed at New Mexico Tech, including the nicotine patch, a true success story. 

“This partnership helps build on the success that NMT inventors have achieved by providing a workspace for them to grow their commercialization efforts,” he said. “This agreement and partnership between New Mexico Tech and Nusenda Credit Union is the next step in the effort to promote an entrepreneurial culture on the Tech campus, focusing on commercializing technology created and developed by NMT faculty, staff, and students.”

“Nusenda Credit Union is committed to helping transform New Mexico into a place where everyone can thrive,” said Nusenda President and CEO Joe Christian. “We believe that innovation is crucial to transformation and are pleased to support NM Tech and the Office of Innovation, and the great work that they do.”

The OIC was created in 2017 to promote an entrepreneurial culture on the NMT campus, focusing on commercializing technology created and developed by NMT. OIC’s Executive Director, Dr. Myrriah Tomar, leads and manages NMT’s intellectual property and oversees the university’s economic development initiatives. The OIC intakes new invention disclosures from NMT faculty, staff, and students, and evaluates these disclosures based on their commercial potential. 

“New Mexico Tech’s patent and technology portfolio is poised for startup creation and will be an economic driver for Socorro,” said OIC Executive Director Dr. Myrriah Tomar. 

This joint partnership with Nusenda Credit Union helps raise the profile and establish greater credibility of the OIC’s efforts by providing a physical space for NMT-derived startups and the TCA in the city of Socorro, President Wells said. 

President Wells said Tech’s partnership with Nusenda Credit Union is an example of how industry and academia can work together to prompt economic development. Being on California Street, the main street of Socorro, allows New Mexico Tech’s Office of Innovation Commercialization to be a robust, visible entity, emphasizing the strong connection between New Mexico Tech and the Socorro community.

NMT startups will work alongside the TCA, led by TCA Coordinator Estefanita Rawlings, which provides clients across the state intellectual property and cybersecurity training. TCA serves entrepreneurs at the idea and invention stage and provides no-cost, confidential counseling regarding intellectual property.