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The New Mexico Science & Technology (S&T) Business Startup grant is a competitive state funded grant that supports small businesses engaged in research and development (R&D). The goal of this grant is to assist early-stage companies in commercializing a unique technology or product with strong growth potential and continuing to do business in New Mexico. These awards will fund New Mexico-headquartered technology companies with the goal of market entry, customer acquisition, business expansion, and job creation.
Projects may be awarded between $25,000 and $50,000.
Eligibility
Eligible companies must be developing a technology or product with applications in one of the following Technology and Innovation Office (TIO) priority sectors:
- Advanced Energy
- Advanced Computing
- Biosciences
- Aerospace
Eligible funding uses include:
- Intellectual property assessment
- Patent filing
- Outside lab testing and validation
- Regulatory assessment and certifications
- Meeting with customers, partners, or investors
- Attending trade shows (no more than 10% of total awarded funds)
- Market research and data acquisition
Ineligible funding uses include:
- Payroll expenses
- Research & Development
- Materials or supplies over $100
- Alcohol, drugs, food, etc.
- Laboratory or Business Equipment