Deadline: June 10, 2025
Award Amount: Up to $100,000 for businesses with an active federal SBIR/STTR Phase II grant and up to $50,000 for businesses with an active SBIR/STTR Phase I, or for businesses within 3 months of a Phase I having ended with intentions of applying for a Phase II
Match: None
Eligible Entities: Small Businesses
Description: Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants are competitive federal grants that support small businesses engaged in research and development (R&D) with the potential for commercialization. The New Mexico SBIR Matching Grant provides recipients additional resources to commercialize the technology being developed with federal SBIR funding. This program leverages the fact that SBIR awardees have technologies vetted by national experts and are recipients of federal 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 increase the commercial viability of the receiving firms.