About this programme
The NM SBIR/STTR Matching Grant, run by the Technology and Innovation Office (TIO) inside the New Mexico Economic Development Department, gives matching grant funds to small businesses commercializing federally-funded SBIR or STTR research. It builds on the fact that SBIR awardees already have technologies vetted by national experts, and aims to push that research toward commercial viability.
The state says state-level matching programs like this one are found nationally to lead to follow-on funding, stimulate business growth and expansion, generate wealth, increase tax revenue, and increase the commercial viability of recipient firms.
Past awards show the range in practice: in 2023, TIO gave five awards from $25,000 to $100,000, including $100,000 each to Integrated Deposit Solutions (aerosol printing technology for printed electronics, Albuquerque) and NeuroGeneces (AI-driven brain health assessments, Santa Fe), and $25,000 each to EnviTrace, ErgoTech, and MNT Smart Solutions. In 2022, awards of $25,000 to $100,000 went to companies including Actoprobe (custom optical spectroscopy instruments), Backyard Farms, Emerging Technology Ventures, Just Health Care, and NeuroGeneces. Earlier 2021 awardees included UbiQD, Mesa Photonics, and BennuBio.
How it works
Funds can be used for intellectual property assessment, patent filing, outside lab testing and validation, regulatory assessment and certifications, customer, partner, or investor meetings, trade shows (capped at 10% of the award), and market research and data acquisition.
Funds cannot be used for payroll, R&D itself, supplies over $100, alcohol, drugs, or food, or laboratory or business equipment.
Priority sectors are Aerospace, Biosciences, Advanced Computing, Water Technologies, and Advanced Energy.
Who can apply
The company must be New Mexico-based and for-profit.
It must hold an active federal Phase I or Phase II SBIR/STTR award, or be within three months of completing Phase I with plans to apply for Phase II.
How to apply
- Watch for the next application period to be announced on the TIO Grants page; no application window is open now.
Frequently asked
Is this grant currently accepting applications?
No. The site states information about the next application period will be posted when it becomes available.
What can I use the matching grant for?
IP assessment, patent filing, outside lab testing, regulatory work, customer and investor meetings, trade shows (up to 10% of the award), and market research, but not payroll, R&D, small supplies, or equipment.
Do I need an active federal SBIR award?
You need an active Phase I or Phase II SBIR/STTR award, or to be within three months of finishing Phase I with plans to apply for Phase II.
How much have past awards actually been?
Awards have ranged from $25,000 to $100,000. In the 2023 round, for example, two companies received $100,000 each and three received $25,000 each.
More funding in New Mexico
Job Training Incentive Program (JTIP)
New Mexico Economic Development Department · New Mexico
Reimburses 50 to 90% of wages for up to 6 months while a New Mexico company trains newly hired workers in export-oriented jobs.
NM Collateral Assistance Program (CAP) 2.0
New Mexico Economic Development Department · New Mexico
State cash support covers up to half of a New Mexico small-business loan's collateral shortfall, arranged through the borrower's own lender.
Capital Connect
New Mexico Economic Development Department (SSBCI technical assistance contractors: WESST, HatchForm, Revby, UNM Anderson) · New Mexico
A free 3-month cohort of financial and legal consulting to get New Mexico small businesses ready to raise loans, grants or investment.
New Mexico Quantum Technologies Award
New Mexico Economic Development Department (Technology & Innovation Office) · New Mexico
Up to $200,000 for funded quantum-technology companies that open and keep a physical presence in New Mexico for two years.
New Mexico Science and Technology Business Startup Grant
New Mexico Economic Development Department (Technology & Innovation Office) · New Mexico
Grants of $25,000 to $50,000 to help early-stage New Mexico tech companies commercialize a product and win first customers.
Local Economic Development Act (LEDA)
Economic Development New Mexico, via local government fiscal agents · New Mexico
Reimburses land, building and infrastructure costs for New Mexico manufacturing and agricultural businesses, applied for through the local city or county.
All 7 programmes in New Mexico →
Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.