The New Mexico SBIR (Small Business Innovation Research) Matching Grant is a state-funded program aimed at supporting New Mexico-based small businesses that have received federal SBIR or Small Business Technology Transfer (STTR) grants. The grant provides additional resources to assist in the commercialization of innovative technologies initially developed through federally funded R&D. By offering financial support beyond federal proof-of-concept and research funding, the program seeks to accelerate technology commercialization, enhance market entry, facilitate customer acquisition, and stimulate business growth, thereby boosting New Mexico’s economy and tax base.

Eligible applicants include New Mexico for-profit companies currently holding an active Phase I or Phase II SBIR/STTR grant, or companies within three months of a recently completed Phase I grant with plans to apply for Phase II. Priority is given to companies within the Aerospace, Biosciences, Advanced Computing, Water Technologies, and Advanced Energy sectors. The grant provides funding for specific business development activities that federal SBIR grants do not cover, supporting companies in their journey from R&D to market viability.

Permitted expenses under the NM SBIR Matching Grant include intellectual property assessments, patent filing, external lab testing and validation, regulatory certifications, and strategic customer or investor meetings. Funding may also support trade show attendance (capped at 10% of total funds awarded) and market research. However, funds cannot be used for payroll, ongoing research and development, materials or supplies over $100, or items like food and lab equipment.

Applications for the FY25 NM SBIR Matching Grant are open through November 13, 2024, until 5:00 p.m. MST. An informational webinar will be held on October 30, 2024, at 1:00 p.m. MST for interested applicants. This session will cover program details, eligibility criteria, and application requirements. This grant represents a valuable opportunity for SBIR/STTR awardees in New Mexico to gain the resources necessary to bring their innovations to market and contribute to the state’s economic growth.