New Mexico
State Resources
New Mexico is a rich cultural tapestry shaped by Native American, Hispanic (especially Spanish colonial), and Anglo influences. The state is home to 23 Native American tribes, including the Pueblo, Navajo, and Apache. Today, crude oil, natural gas, potash and uranium are all mined and contribute significantly to the economy, although Government and related services is the largest sector. Sandia National Laboratories and Los Alamos National Laboratory are located here, as well as Kirtland Air Force Base and the Hollaman Air Force Base.
The mission of the New Mexico Economic Development Department (EDD) is to “improve the lives of New Mexico families by increasing economic opportunities and providing a place for businesses to thrive.” EDD administers several programs that target advanced technology small business development and maturation through its Technology and Innovation Office. This Office, through the Office of Strategy, Science & Technology offers grant programs to support New Mexico small businesses engaged in research and development and the commercialization of new technologies in the following sectors: advanced computing (including artificial intelligence, cybersecurity, and quantum computing), advanced energy, aerospace, bioscience, intelligent manufacturing, and water technologies. Listed below are more details regarding a number of these initiatives.
SBIR/STTR Matching Grant
The SBIR/STTR Matching Grant awards of between $50,000 and $100,000 are focused business development expenses to selected New Mexico recipients of federal Small Business Innovation Research and Small Business Technology Transfer awards. 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. Additional information is found in the Policy Manual, Fiscal Year 2026.
Science & Technology Business Startup Grant
The New Mexico Science and Technology Business Startup Grant in the amount of $25,000 and $50,000 supports early-stage companies engaged in R&D in the fields of energy, advanced computing, biosciences and aerospace in commercializing a unique technology or product with strong growth potential and continuing to do business in New Mexico. These awards will fund New Mexico-headquartered technology companies with the goal of market entry, customer acquisition, business expansion, and job creation.
Technology and Innovation Office
The Technology and Innovation Office is also piloting three programs in 2025:
New Mexico Quantum Technologies Award Pilot Program:
The New Mexico Quantum Technologies Award Pilot Program that awards $100,000 to early-stage companies working in quantum technologies. Eligible companies must be located in New Mexico or establish a presence in New Mexico.
Advanced Energy Award Pilot Program:
New Mexico Advanced Energy Award Pilot Program is a state-funded grant that awards between $250,000 and $1,000,000 in funds. Funding is awarded on a cost reimbursement basis to proposals in advanced energy innovation and commercialization from New Mexico small businesses engaged in research and development. The funds seek to assist early-stage companies developing a unique product with strong growth potential. More information is in the Advanced Energy Award Pilot Program Policy Manual Fiscal Year 2025.
Quantum Technologies Award Pilot Program:
Through the state-funded New Mexico Quantum Technologies Award Pilot Program, the New Mexico Economic Development Department seeks to support the growth or relocation of quantum technology companies in New Mexico. The program awards funds to early-stage companies working in quantum technologies.
