Small Business Innovation Research (SBIR) grants are competitive federal grants that support small businesses engaged in research and development (R&D) with a potential for commercialization. SBIR grants cover costs associated with R&D, but do not cover expenses related to business development. Ineligible costs include marketing and salaries for employees related to business operations.
The New Mexico SBIR Grant provides recipients additional resources to commercialize the technology developed with federal SBIR funding. This program leverages the fact that SBIR recipients have technologies vetted by national experts and provide 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 commercial viability of the receiving firms.
The purpose of the NM SBIR Grant is to accelerate commercialization of technologies developed with SBIR awards. Awards will fund and assist New Mexico science and technology companies with the goal of market entry, customer acquisition, business expiation, job creation, and increasing the tax base.
1) Applicants must be a New Mexico based company with a CRS Tax ID, a NM address, and an EIN number.
2) Applicants must have an active Phase I or Phase II SBIR/STTR grant at time of application.
3) Applicants must agree 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 match will be performed in New Mexico.
4) Applicant must certify that they have not overdue tax debt or are not party to any claim or lawsuit.
5) Applicants must agree to all reporting and claw-back requirements.
6) Applicants may apply for only one match per award cycle.
Incomplete or incorrectly filled out applications will not be considered. Phase I SBIR Match awards are capped at $25,000 and Phase II SBIR Match awards are capped at $100,000.
Awardees are required to complete a short milestone report on their accomplishments three months after receiving the award, 6 months post-award, 12 months post-award, and 24 months post award. (Templates for milestone reports will be emailed to awardees) At this point the grant is considered complete. Failure to satisfy either reporting requirement will result in the company being ineligible for future grants. All grant funds must be invoiced and expended by fiscal year end, June 30th 2020.