Home News Local News State offers grants for science and tech start-ups

State offers grants for science and tech start-ups

0

Copyright © 2021 Roswell Daily Record

The New Mexico Economic Development Department is offering a new small grants program to science and technology start-ups.

Cabinet Secretary Alicia J. Keyes announced Thursday that the Business Start-Up Grants can be used by potentially high-growth, for-profit New Mexico companies with fewer than 50 employees operating in the science and technology fields.

Applicants must demonstrate the potential to create jobs or generate additional private investment, be headquartered in New Mexico and provide a letter of good standing or Certificate of Compliance with the state Taxation and Revenue Department.

The Office of Science and Technology will give grants to up to 10 companies, and funds need to be used by June 30. Grant amounts will be up to $10,000 each, with awards dispersed immediately upon execution of a contract and state vendor approval. Awarded companies must agree to seek additional funding and provide a six-month and 12-month status report after receiving a grant.

Eligible companies must be working in one of the following industry sectors: aerospace, biosciences, cybersecurity, intelligent manufacturing or sustainable and green energy.

Support Local Journalism
Subscribe to the Roswell Daily Record today.

To determine whether an applicant qualifies as high growth, the company will be rated based on such criteria as its unique product or service, clear and compelling business proposition, scalable product and business model, capable team, potential to create jobs in New Mexico, private investment and economic benefit to the state.

The new Business Start-Up Grant application is available under the “Office of Science and Technology” section of the EDD website: gonm.biz. The submission deadline is Monday, Jan. 23.

For more information, contact Myrriah Tomar, Ph.D., director, Science and Technology Office, 505-827-0222, Myrriah.Tomar@state.nm.us.

Previous articleThe No. 6 sports moment of 2019
Next articleWalking in a winter wonderland