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. SBIR grants cover costs associated with R&D, but do not cover expenses related to business development. Ineligible costs include marketing and salaries for employees related to business operations.
The New Mexico SBIR 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 NM SBIR 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.
The FY23 SBIR Grant application closed on November 14, 2022.
The FY24 application will open in October 2023.
New Mexico Economic
Development Department
Joseph M. Montoya Building
1100 S. St. Francis Drive
Santa Fe, NM 87505-4147
Mailing Address:
New Mexico Economic
Development Department
P.O. Box 20003
Santa Fe, NM 87504-5003
Main number: (505) 827-0300 (se habla español)
Fax: (505) 827-0328
The mission of the New Mexico Economic Development Department is to Improve the lives of New Mexico families by increasing economic opportunities and providing a place for businesses to thrive.
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