The Mayor’s Prize Categories
At least two prizes will be awarded at least once a year in five categories that have been determined by independent landscape analyses conducted by Kauffman and the Mayor’s office.
- Bringing local innovations to market: Organizations responding in this category seek to support new and young firms built around technologies and innovations developed at one of the Albuquerque area’s federally funded research and development centers, research universities, or other research institutions.
- Access to and connectivity of entrepreneurship resources: Organizations responding in this category seek to improve connectivity or collaboration between entrepreneurial support organizations
- Connections for entrepreneurs in Greater Albuquerque to markets, resources, or other entrepreneurs:
- Within Albuquerque
- Within New Mexico
- In regional, national, or international markets
- In key demographic groups
- In other sectors or businesses adjacent to theirs
- Enabling high growth success: Organizations responding in this category seek to support high-growth firms, which have an outsized role in job creation and in wage growth and improving economic mobility.
- Buy and make local: Organizations responding in this category seek to support local entrepreneurs developing and manufacturing physical products locally at scale.
The Mayor’s Prize is a partnership between the City of Albuquerque, the Albuquerque Community Foundation, the Ewing Marion Kauffman Foundation and generous donors who believe that entrepreneurial activity is among the best barometers to measure the health of a city’s economy. With successful entrepreneurs, we can anticipate job creation, product development, increased economic activity and economic mobility to grow the prosperity of our community.
Innovation is an intentional process of experimentation and exploration yielding significant positive change. Bringing a venture philanthropy approach to growing a community of successful entrepreneurs in Albuquerque, The Mayor’s Prize is looking to award grants and provide technical assistance to scale innovative program models that will improve the conditions in Albuquerque to start and grow ventures.
The Mayor’s Prize will place particular emphasis on programs supporting the high growth firms that will generate the greatest benefit in new jobs and community prosperity.
Successful applicants will be those with the greatest potential to scale these programs significantly during and after the prize period. Additionally, awardees should have the opportunity to pilot and/or scale their programs, while working with The Mayor’s Prize assistance providers to hone their business models, value propositions and relevant processes.