NEW MEXICO ECONOMIC
DEVELOPMENT DEPARTMENT

New Mexico Small Business Innovation Research (SBIR) Grant

Small Business Innovation Research (SBIR) grants are competitive federal grants that support small businesses engaged in research and development (R&D) with a potential for commercialization. The New Mexico SBIR Matching Grant provides recipients additional resources to commercialize the technology developed with federal SBIR funding. This program leverages the fact that SBIR recipients have technologies vetted by national experts and provide funding that covers proof-of-concept and R&D funding. State level matching programs nationwide are found to lead to follow-on funding, stimulate business growth and expansion, generate wealth, increase tax revenue and commercial viability of the receiving firms.

The purpose of the New Mexico SBIR Matching Grant is to accelerate commercialization of technologies developed with SBIR awards. Awards will fund and assist New Mexico science and technology companies with the goal of market entry, customer acquisition, business expansion, job creation, and increasing the tax base.

New Mexico SBIR Matching Grants cover expenses related to business development that are not eligible for federal SBIR funds.

Eligible funding use for the New Mexico SBIR Matching Grants 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 use for the New Mexico SBIR Matching Grants:

  • Payroll expenses
  • Research & Development
  • Materials or supplies over $100
  • Laboratory or Business Equipment

Please see the grant manual below for full details and watch the mandatory webinar recording prior to applying. Applications close on Monday, November 13, 2023 at 5 pm MT.