Capital Leverage Grant

The Capital Leverage grant allows advanced technology companies and research institutions that secure at least $1 million in federal, philanthropic or private investment to receive at least $1 million in state funds to boost their growth and maximize their impact.

At-a-glance:

What this is: An always-open (rolling) solicitation that uses Research, Development and Deployment (RD&D) Fund grants to match or otherwise leverage qualifying outside funding—federal or other non-State public, philanthropic, or private—into New Mexico projects that advance the commercialization of new technologies in the state’s target sectors.

Instrument: Grants only.

Who can apply: A New Mexico public entity, or a business registered to do business in New Mexico (or that commits to register before any funds are disbursed).

Minimum RD&D Fund grant: $1,000,000 per award.

Minimum non-State funding: $1,000,000 per project.

Pathways:

1. Requests up to $10,000,000 proceed under Pathway 1
2. . Requests above $10,000,000 proceed under Pathway 2, which requires supplemental application information and has an extended review period.

How it works:

1. Submit a short letter of intent (LOI). TIO will target a 21-calendar day response, encouraging or discouraging a full application.
2. Submit a full application. TIO will screen it for eligibility and program fit, score it against the evaluation criteria published in this solicitation, and make an award decision.
3. If selected for funding and depending on the status of the outside funding, TIO will issue a commitment letter or proceed directly to grant agreement negotiation.

Deadlines:Letters of intent and applications are accepted and decided on a rolling basis for as long as funding remains available, subject to TIO’s discretion.

Target turnaround: TIO aims to respond to letters of intent within 21 calendar days. For Pathway 1 requests, TIO aims to decide complete applications within approximately 60 calendar days of receipt. For Pathway 2 requests, TIO targets a decision within approximately 90 days, extendable at TIO’s discretion based on the size, complexity, or other aspects of the proposed project. This solicitation includes an optional expedited review process in cases of documented exigent circumstances (§ 7.c). Response timelines begin on TIO’s receipt of the relevant complete submission but no earlier than October 1, 2026.