The New Mexico Economic Development Department is launching a new grant program to help facilitate the transfer of technology developed in the laboratory to businesses seeking to improve existing products or business procedures.
The New Mexico Technology Transfer Assistance Grants (NM-TAG) are aimed to assist in the transfer and commercialization of technologies developed in New Mexico to business startups.
“There is a substantial amount of research being done at the National Laboratories and Universities in New Mexico that can be commercialized,” said Economic Development Cabinet Secretary Alicia J. Keyes. “Our hope is that this new program can assist scientists who wish to start a business in our State.”
The typical cost of optioning a technology license varies, but often ranges from $4,000 to $5,000. Therefore, the maximum grant amount is $3,750 or 75% of $5,000. NM-TAG grants help to offset the risk associated with licensing new technologies and assist the transfer and deployment of new innovative technologies.
The grant amount (75% of the cost of the technology license) goes to the institution providing the technology. The company receiving the technology pays the final 25% of the cost.
1. Applicants must be a New Mexico-based company with a CRS number from the Taxation & Revenue Department; a New Mexico address (no PO boxes); and a federal EIN number.
2. Applicants must have or be pursuing a written agreement with a qualified New Mexico-based technology provider.
3. The project will have a timeline of no more than six months.
4. Applicants may receive assistance for one technology transfer project per year.
5. Incomplete or incorrectly completed applications will not be considered.
Applicants will be evaluated based on the technical and commercial feasibility of the project, as well as market-pull and other potential factors of success. Applications may be downloaded here.
Applications will be accepted on a rolling basis beginning July 1, 2019.
Successful applicants will be notified 2-3 weeks after the application deadline. Awardees will be required to submit a report on their accomplishments three months after receiving the new technology.
Up to ten grants will be awarded during the 2020 fiscal year (July 1, 2019 – June 30, 2020).
For more information contact the Myrriah Tomar, Director of the Office of Science and Technology, 505-827-0222 or email@example.com.