Applications are now being accepted for the New Mexico Science and Technology Business Startup Grant.
Donor Name: Economic Development New Mexico
State: New Mexico
County: All Counties
Type of Grant: Grant
Deadline: 07/07/2026
Size of the Grant: $10,000 to $100,000
Grant Duration: Grant Duration Not Mentioned
Details:
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) with the potential to commercialize a technology. The S&T Business Startup Grant assists early-stage companies in developing a unique product with strong growth potential. These funds may be used to cover expenses related to business development, such as marketing, customer acquisition, patent filing fees, conference travel, etc.
Objectives
- Recruitment, retention and expansion, or creation of jobs in economic-base businesses
- Develop the tax base
- Encourage Business Development
Funding Information
$25,000 and $50,000.
Uses of Funds
Funds can be used for expenses, including, but not limited to, 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), or market research and data acquisition.
Eligibility Criteria
Businesses that are eligible to apply for the S&T Business Startup Grant:
- Must be headquartered in New Mexico.
- Must have a New Mexico Business Tax ID Number (BTIN) (previously CRS Tax ID Number), a physical NM address, EIN number, and a valid NAICS code corresponding to a science/technology business.
- Must have staff physically present in the state and occupy a physical space — Businesses with a virtual headquarters in New Mexico or a business with more than 40% of their staff outside the state will not be considered.
- Must be a for-profit technology business (a business that creates a technology-based device, software, etc.) with a focus on one of TIO’s priority sectors: Advanced Computing, Advanced Energy & water, Aerospace & Defense, or Bioscience.
- Technology-enabled companies will not be considered.
- i.e., a company that uses technology to sell a service or product that is not a device/software.
- Examples of (ineligible) technology-enabled companies include, but are not limited to the following:
- Business A is a small New Mexico business that has received technical assistance from a national laboratory to improve the process of compacting wood chips to build a dining table. Business A sells products like dining tables derived from wood using their improved process developed with assistance from the New Mexico Small Business Assistance Program.
- Business B is a small New Mexico business that consults with private sector technology companies and universities to connect STEM graduates with STEM careers.
- Business C is a New Mexico business that developed a real estate CRM platform using existing LLM APIs to generate property descriptions and marketing content and relies on available AI tools and not a novel algorithm or model.
- Technology-enabled companies will not be considered.
- Must provide a Letter of Good Standing via the New Mexico Taxation and Revenue Taxpayer Access Point (TAP).
- In order to request the Letter of Good Standing, you must be logged into the New Mexico Taxation and Revenue Taxpayer Access Point (TAP) through an administrator account.
- If you do not have the option to request a Letter of Good Standing through your portal, please contact the TIO Senior Economic Development Coordinator.
- Applicants must submit a State of New Mexico W-9 to become a vendor with EDNM (if awarded) to receive grant payments. Applications will require the submission of a State of New Mexico W-9 – wet signatures are required on the W-9
- Must certify they do not have overdue tax debt or are not a party to any claim or lawsuit.
- Must agree to all reporting and claw-back requirements.
- Past S&T Business Startup Grant grantees are eligible to reapply two years from the date their past grant agreement was fully executed.
For more information, visit Economic Development New Mexico.
