New Mexico SBIR/STTR Matching Grant

NM SBIR/STTR Matching Grant

Funds New Mexico firms that partner with federal small business research achievements.

The New Mexico SBIR/STTR Matching Grant, administered by the Technology and Innovation Office (TIO) within the New Mexico Economic Development Department, provides state-funded cash grants to New Mexico-based for-profit companies that hold an active federal Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) award. Phase II federal awardees may receive up to $100,000; Phase I awardees, or companies within three months of completing Phase I and intending to apply for Phase II, may receive up to $50,000. The FY26 cycle opened May 20, 2025, with final reports due by June 30, 2026. Priority sectors include aerospace, biosciences, advanced computing, water technologies, and advanced energy.

Eligible expenditures cover commercialization activities: intellectual property assessment, patent filing costs, laboratory testing, regulatory certifications, customer and investor meetings, trade show participation (capped at 10 percent of the award), and market research. Direct research and development costs, payroll, materials and supplies over $100 per item, and food are not reimbursable. The FY27 cycle is expected to open after the New Mexico legislature completes its appropriations process.

Companies apply through the NM TIO application portal; the FY26 application window has closed and results are pending. Successful applicants must submit a final report by June 30, 2026, documenting how funds were spent on commercialization activities. Organizations tracking this program should monitor the NM EDD and TIO websites for FY27 cycle announcements. The matching grant is designed to extend the runway of federal SBIR/STTR recipients while they move their technology toward commercial readiness, making it especially relevant to deep-tech and hardware companies already inside the federal SBIR ecosystem.