HB 272 ENTREPRENEUR-IN-DEVELOPMENT PROGRAMS

Rep Linda Serrato

Actions: [4] HEC/HAFC-HEC

Scheduled: Not Scheduled

  House Bill 272 (HB 272) appropriates three million dollars ($3,000,000) to the Higher Education Department for Central New Mexico Community College, in collaboration with San Juan College, Santa Fe Community College and Southeast New Mexico College, to develop and start entrepreneur-in-development programs to foster and nurture local companies. 

 House Bill 272 (HB 272) appropriates three million dollars ($3,000,000) from the General Fund (GF) to the Higher Education Department (HED) for expenditure for Fiscal Years (FY) 2025 through FY 2027 for Central New Mexico Community College, in collaboration with San Juan College, Santa Fe Community College and Southeast New Mexico College, to develop and start entrepreneur-in-development programs to foster and nurture local companies.

Any unexpended or unencumbered balance remaining at the end of FY 2027 reverts to the GF. 
 

 Generally, an entrepreneur is a person who can visualize new ideas and find the resources to implement their vision to set up an on-ground business for making profits and serving society. Often an entrepreneur will take most of the risks and reap most of the rewards. These types of individuals have the ability/abilities to identify and assess risks and exploit opportunities and; dynamically create new organizations or refurbish old. The process of setting up a business is known as entrepreneurship (French to undertake). Entrepreneurs play a key role in any economy, using the skills and initiative necessary to anticipate needs and bring new ideas to market. 
Campus entrepreneurship programs provide training for students, faculty, researchers and business leaders to drive positive, possibly transformative, change to society by building scalable enterprises. These programs teach entrepreneurial leadership, strategy, venture financing and startup skills.
There are several existing programs inside and outside of existing educational institutions. Santa Fe Community College has an entrepreneur program, a concentration for a degree in business administration, through online business classes focused on how to plan an entrepreneurial venture, create a business model, operate in a global setting and harness the advantages and far-reaching impact of e-commerce. It provides students with opportunities to interact with successful entrepreneurs and can be used as part of a certification 
https://harappa.education/harappa-diaries/introduction-to-entrepreneurship-development/#heading_4
https://www.investopedia.com/terms/e/entrepreneur.asp
https://www.sfcc.edu/programs/entrepreneurship/