The New Mexico SBIR Matching Grant is to accelerate the commercialization of technologies being developed with SBIR awards.
Donor Name: New Mexico Economic Development Department
State: New Mexico
County: All Counties
Type of Grant: Grant | Matching Grants
Deadline: 11/13/2024
Size of the Grant: $10,000 to $100,000
Grant Duration: Grant Duration Not Mentioned
Details:
Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants are competitive federal grants that support small businesses engaged in research and development (R&D) with the potential for commercialization. The New Mexico SBIR Matching Grant provides recipients additional resources to commercialize the technology being developed with federal SBIR funding. This program leverages the fact that SBIR awardees have technologies vetted by national experts and are recipients of federal 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 increase the commercial viability of the receiving firms.
Awards will fund and assist New Mexico companies with the goal of market entry, customer acquisition, business expansion, job creation, and increasing the tax base.
All New Mexico-based for-profit companies with an active Phase I or Phase II SBIR/STTR (or businesses within three months of a Phase I having ended with intentions of applying for a Phase II) are eligible to apply. Science or technology companies in any of the following industry sectors will be prioritized: Aerospace, Biosciences, Advanced Computing, Water Technologies, and Advanced Energy.
Funding Information
The NM SBIR/STTR Matching Grant is a competitive grant opportunity. Projects may be awarded up to $100,000 for businesses with an active SBIR/STTR Phase II grant and up to $50,000 for businesses with an active SBIR/STTR Phase I or for businesses within 3 months of a Phase I having ended with intentions of applying for a Phase II. Funding will be awarded through a cost reimbursement grant agreement.
Eligible Uses of funds
Eligible funding use for the NM 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.
Eligibility Criteria
Businesses that may apply to participate in the NM SBIR/STTR Grant:
- Must have an active federal SBIR/STTR Phase I or Phase II award or be within 3 months of a Phase I having ended with intentions of applying for a Phase II.
- Must be a headquartered in New Mexico.
- Must have a NM CRS Tax ID, a physical NM address, EIN number, and NAICS code. (The business’ staff must be 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 technology business creates a technology-based device, software, etc.). Businesses in the following industry sectors will be prioritized: Aerospace, Biosciences, Advanced Computing, Water Technologies, or Advanced Energy.
- 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 technology enabled companies (ineligible) 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 employees with job opportunities.
- Business C is a small New Mexico business that is technically a home builder/construction company but builds LEED- (Leadership in Energy and Environmental Design) certified homes.
- Must provide a Letter of Good Standing via the New Mexico Taxation and Revenue Taxpayer Access Point (TAP).
- Must certify they do not have overdue tax debt or are not a party to any claim or lawsuit.
- Must certify that at least fifty-one percent (51%) of the activities conducted under the federal SBIR award grant and thirty-one percent (31%) of the state level funds will be performed in New Mexico.
- Must agree to all reporting and claw-back requirements.
For more information, visit NMEDD.
