Bandelier Technologies triples office space in Santa Fe

Bandelier Technologies has nearly tripled its physical footprint at the New Mexico Innovation Hub in Santa Fe. The quantum sensing and imaging company moved from a space of more than 1,400 square feet to nearly 3,000 square feet earlier this year. Owner Stephen Buchanan said the firm also added several employees and expects to have nearly a dozen people on staff by the start of next year.

Buchanan joined the first cohort of the Venture Builder program this fall to help the company move beyond the startup phase. The program is a component of the Business Navigator initiative, which is run by the city Office of Economic Development and New Mexico State University’s Arrowhead Center. Drew Tulchin, the former first CEO of Meow Wolf and past president of New Mexico Angels, leads the effort. The inaugural group consists of six early-stage companies and nonprofit groups.

The cohort includes Artisans of Nations, which sells work by Indigenous artists; NeuroGeneces, a brain health monitoring firm; the RoadRunner Food Bank of New Mexico; Slazer AI, which helps real estate agents price homes; and Amalia Health, a behavioral health provider. Buchanan said the diverse group faces similar operational challenges, such as hiring and cash flow management. He noted that participants have learned from each other’s different stages of growth.

Tulchin, who is managing partner at UpSpring Associates, said the program differs from traditional accelerators by avoiding a one-size-fits-all curriculum. The structure is based on the specific needs of the participants. The program includes frequent meetings between company leaders and Tulchin, as well as one-on-one sessions with business experts. The hub serves as the base for these activities, a facility founded earlier this year by David Perez.

Nick Salazar, founder and CEO of Slazer AI, said building a tech company in New Mexico can feel isolating. He credited the program with connecting his firm to mentors, advisers, and legal counsel. Rachel Lee, CEO of Artisans of Nations, cited access to Tulchin’s network as a key benefit. Lee said her company, launched in 2023, has struggled to build recurring revenue without a physical gallery location in downtown Santa Fe.

The program is concluding with mastermind sessions this week, where each company will present a specific problem to a group of experts. Tulchin described these sessions as the final major gathering of the cohort. He said the first group has been a success because each entrepreneur contributed unique insights. The program is designed to be short to respect the limited time of startup leaders, but the relationships formed are intended to last.

Tulchin said additional funding will be needed to continue the program in the future. UpSpring Associates is partnering with the Office of Economic Development later this week to host a finance fair. More than 20 finance organizations will participate in the event. The format will have finance leaders deliver brief pitches to aspiring entrepreneurs, followed by informal networking opportunities.