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.
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 the 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.