EDD: Grants For Science And Technology Start-Ups

EDD News:
SANTA FE The New Mexico Economic Development Department is offering a new small grants program to science and technology start-ups, Cabinet Secretary Alicia J. Keyes has announced.
The Business Start-Up Grants can be used by potentially high-growth, for profit companies in New Mexico in the science and technology fields with fewer than 50 employees.
Applicants must demonstrate the potential to create jobs or generate additional private investment, be headquartered in New Mexico, and provide a letter of good standing or Certificate of Compliance with the state Taxation and Revenue Department.
The Office of Science and Technology will grant up to 10 companies and funds need to be used by June 30, 2020. Grant amounts will be up to $10,000 each, with awards dispersed immediately upon execution of a contract and state vendor approval. Awarded companies must agree to seek out additional funding and provide a 6-month and 12-month status report after receiving a grant.
Eligible companies must be working in one of the following industry sectors:
  • Aerospace
  • Biosciences
  • Cybersecurity
  • Intelligent Manufacturing
  • Sustainable & Green Energy
The following guidelines will be used to determine whether an applicant qualifies as high growth:
  • Unique product or service
  • Clear and compelling business proposition
  • Scalable product and business model
  • Capable team
  • Potential to create jobs in New Mexico, private investment 
  • Economic benefit to the state
The new Business Start-Up Grant application is available here. The submission deadline is Monday Jan. 23, 2020. For more information contact Director Myrriah Tomar, Ph.D., of the Science and Technology Office at 505.827.0222 or email Myrriah.Tomar@state.nm.us.