Ricardo Mora | Guest Columnist | El Paso Times
Local businesses fuel the economy in the Paso del Norte region, and we are helping to be the accelerator to keep the fire burning bright.
The Bridge Accelerator Binational Supplier Development Program is a 12-week training program seeking to help small- to medium-sized enterprises expand and improve their business practices. Applications are now open for the spring 2022 cohort online at shorturl.at/chuH7. Applications will be accepted through Feb. 28, but you still have time to receive a $500 early-bird discount through Jan. 31.
The program, which was created by Technology Hub and Pioneers 21 in 2019, with support from Microsoft TechSpark, already has helped dozens of businesses find innovative ways to become part of the growing and vitally important international industrial supply chain.
The goal of the program is to find a long-term solution to keep sourcing products in our area. Last year, the West Texas region saw about $50 billion of supplies shipped to the area with less than 2% of it being sourced here.
Arnoldo Ventura, owner of Frontera Radiators and Parts, took the knowledge he gained from the program to bring innovations to the El Paso area, which led to him doubling his company’s sales.
"The program helped us out a lot, especially with e-commerce because we didn't know how to start that part," Ventura said. "What me and my team did is say, 'OK, let's get into the Bridge Accelerator program and focus on how to develop our e-commerce.' So, when we got in the program, that was our main focus and at the end, we did it."
He continued, "Now we are selling goods on e-commerce and our sales rose about a hundred percent from last year, and mostly it’s because of the impact of the bridge program. Some of the models that we got from there, like project planning and project management, are the ones that have had the most impact on our business."
Businesses selected to be part of the highly specialized program can generate business connections and prepare their companies to expand their participation as suppliers to large industrial corporations.
Jose Ochoa, CEO of Global Containers and Packaging, applied for the program after his company was facing a large financial setback due to the bankruptcy of one of his biggest clients.
He jumped at the opportunity provided by the program to overcome the setback and ultimately expand his business. "I told myself this program would be the perfect tool to change the morale of my company, to change the narrative and to learn more about how to improve the company," Ochoa said. "Back then when we were having that setback, I knew we definitely needed additional knowledge, tools and new industry connections to help my company. It was a great benefit to my company."
He added, "It was a starting point to move the needle for our company and to be able to go from there and apply what we learned and be in that mindset of making changes to improve and expand our company."
The 12-week training program includes weekly sessions with business experts, a speaker series with international professionals and pitch training and development.
The program also will include two modules provided by New Mexico State University’s Arrowhead Center, which also helps innovators, entrepreneurs and small businesses grow by providing services, resources, expertise and connections in their fields. One of the modules will be focused on financing and access to capital markets, teaching new ways for businesses to scale their ventures.
The program ends with a “Demo Day” event in which participants present their pitches to regional manufacturing executives and production leaders while competing for up to $10,000 in investment capital.
The Bridge Accelerator Binational Supplier Development Program was created with support from Microsoft, Transtelco, Tecma Group, El Paso Electric, the city of El Paso, Desarrollo Económico de Ciudad Juárez A.C., Seisa Medical, the Hunt Family Foundation, NMSU’s Foster Innovation Exchange (FIX), WestStar Bank, High Desert Capital, The Borderplex Alliance, Detroit Axle, Fundación Axcel, Novamex and Workforce Solutions.
I encourage your small- to medium-sized enterprise to apply today for the Bridge Accelerator Binational Supplier Development Program and become part of the growing international supply chain in our region.
Ricardo Mora is the CEO and co-founder of Technology Hub