The ultimate goal of incubation is to launch profitable, sustainable entrepreneurial companies. Graduation is determined cooperatively based on a mastery of core business functions and on key success factors; for most companies this happens within 3 to 5 years. Since inception of the program on average 70+% have graduated or have merged/been acquired during this period.
Some SFBI Graduate Success Stories
Advanced Tax Services
Linda Ruckel formed Advance Tax Services (ATS) in December 2001 with an initial investment of $2,000. Recognizing a crucial need for quality financial services in Santa Fe, Ms. Ruckel opened ATS’ first office in January 2002 and joined the Incubator in 2003. Advance Tax Services (ATS) offers accounting and bookkeeping services, business and personal tax preparation, business formation services, IRS representation, payroll services, financial and retirement planning. Since opening its doors as a one person operation, Advanced Tax Services has grown to 6 locations employing 17 people.
Sun Power by Positive Energy Solar, Inc.
Allan Sindelar, founder and president of Positive Energy, had been self-employed as an hourly tradesperson for many years before he seized the opportunity to buy the operations of solar pioneer Windy Dankoff in 1997. At the urging of his wife, he became the second client of the Incubator in 1998. The company now employs over 100 people and generates $10 million in yearly revenues with offices in Santa Fe, Los Alamos, Albuquerque and Las Cruces. Now an employee-owned company, SunPower by Positive Energy Solar is the largest certified Benefits Corporation (B Corp) in New Mexico, a distinction earned for providing good wages, benefits, and growth opportunities for team members; contributing to schools and nonprofits; delivering 100 percent satisfaction to its customers; and selecting products for long term performance and low environmental impact. SunPower by Positive Energy Solar is New Mexico’s leading residential and commercial solar installer, so recognized by New Mexico Energy, Minerals and Natural Resources Department (EMNRD) in 2015 out over 100 solar companies in New Mexico.
IT CONNECT was created in 2005 for the purpose of providing and installing mediums to transfer data. Kareem Edwards started with four employees working out of his home. After joining the Incubator in 2005, the company grew to become an anchor tenant of the Incubator employing 70 people before outgrowing the space in the fall of 2015. They have now established multi-state offices with revenues projected in excess of $10 million for 2015. IT CONNECT early on formed a special relationship with schools and their first customer was the Santa Fe School for the Deaf. Recognized nationally as a leading service provider for K-12 schools, they also have been acknowledged for their emphasis on training and developing job opportunities for youth.
Kokopelli Landscaping, Inc.
Landscaping maintenance for the Santa Fe Business Incubator’s Phase I Building was among the first contracts secured by David and Deborah Martinez when they opened Kokopelli Landscaping Inc. in 2002. Like many entrepreneurs, they were running their business from their home, but soon realized the advantages that incubation offered small business including a professional office space and support and tripled their number of maintenance contracts between the time they joined and Incubator and time they graduated out in 2006. They are now statewide serving the communities of Hobbs in the southwest corner of New Mexico to Farmington in the northwest corner – all points in between. With what they learned at the Incubator, they started two additional businesses – owing and renting apartments and a parking lot sweeping company.