Roadrunner Venture Studios has been chosen by the New Mexico Economic Development Department (EDD) to lead a significant $25 million initiative aimed at advancing quantum technology in New Mexico. The project focuses on establishing a quantum innovation campus in Downtown Albuquerque’s Innovation District, featuring state-of-the-art facilities, including a multi-node quantum network, testing and demonstration labs, rapid prototyping capabilities, and specialized equipment such as dilution refrigerators. These resources are set to attract top quantum startups and provide a nurturing environment for cutting-edge research and commercialization.
At the heart of the initiative is Roadrunner’s new quantum branch of its venture studio, which will launch a flagship Founder-in-Residence program. This program is designed to recruit entrepreneurial talent nationwide and support the formation of high-potential quantum companies in New Mexico. In addition, Roadrunner will bring leading startups from across the U.S.—including current partners such as Qunnect, QuEra, and Maybell—to establish their operations in the state. To fuel this ecosystem, the venture studio will establish a dedicated capital network specifically for investing in quantum startups engaged with the studio.
The initiative brings together a coalition of nearly a dozen partners, including Elevate Quantum, Sandia and Los Alamos National Laboratories, the University of New Mexico, and major venture capital firms such as DCVC and Playground Global. This collaborative approach positions Albuquerque as a national hub for quantum innovation and commercialization.
Launched after a competitive RFP process, the effort marks a significant step towards making New Mexico a leader in the rapidly growing quantum industry, projected to reach $200 billion globally by 2040. The state aims to bridge world-class research and real-world commercial success, ensuring that New Mexico stands at the forefront of the quantum revolution.
KEY QUOTES:
“New Mexico has long lived in the public imagination. It’s a place that has led America in the most important times with the most critical innovations — a fulcrum for national endeavor. In this pivotal moment of technological change, we are stepping forward to help lead the coming quantum revolution. To win in something as high-stakes as quantum, we need to find exceptional people, forge breakthrough companies, and fuel the second wave of great American quantum companies for global scale.”
Adam Hammer, Co-Founder and CEO of Roadrunner Venture Studios
“Quantum technology will reshape the future, and New Mexico is ready to lead that transformation. By creating an environment where the top scientific minds have the tools and collaboration they need, New Mexico is backing the bold quantum startups and partnerships that will fuel breakthroughs.”
Nora Sackett, Director of the Technology and Innovation Office at EDD
“Quantum technology represents a once-in-a-generation chance to bring a touch of the Jetsons age into our time. While New Mexico has pioneered world-class research for decades, this venture-studio and infrastructure strategy positions the state to unlock broad economic opportunity for all New Mexicans. Elevate Quantum is excited to partner with Roadrunner and a broad coalition of stakeholders from the national labs, industry, and academic communities to realize what many are coming to call ‘the quantum state.'”
Zach Yerushalmi, CEO of Elevate Quantum
“With a $25 million investment from the State Economic Development Department and the leadership of Roadrunner Venture Studios, we’re at the forefront of the next wave of critical technology right here in Albuquerque. By uniting our labs, universities, venture capital, investors, and innovators, Albuquerque can be the global leader in quantum computing and all the companies, good jobs, and long-term economic growth that come with it.”
Tim Keller, Mayor of Albuquerque
