Five New Mexico science and technology companies, two in Albuquerque, two in Santa Fe and one in Las Cruces, will each receive a startup grant of $25,000, according to a news release issued earlier this month.
The five high-growth potential companies provide a unique product or service and have a clear and compelling business proposition, among other targeted requirements, according to a June 8 news release issued by the New Mexico Economic Development Department (EDD) Office of Science and Technology.
A test subject using the Avisa BreathTest, which rapidly detects pulmonary infections. Avisa Diagnostics USA was among five companies to receive startup grants announced by by the New Mexico Economic Development Department
| avisadx.com/avisa-breathtest/
"New Mexico is the place for innovative technology business ideas and the start-up grants are another way the state is supporting these early-stage entrepreneurs as they strive to bring their ideas to market and hire employees," EDD Cabinet Secretary Alicia J. Keyes said in the news release. "This is how we grow and diversify the economy."
Of the 56 applications for a startup grant, available to New Mexico-based for-profit science and technology companies with fewer than 50 employees, five received a grant, according to the news release.
Albuquerque recipients were the sustainable & green energy companies Osazda Energy and Pajarito Powder. Osazda Energy produces silver pastes additive that prevent solar panel degradation. Pajarito Powder manufactures advanced catalysts for Proton-Exchange Membrane and alkaline fuel cells and electrolyzers.
Santa Fe Recipients were the biosciences company Avisa Diagnostics USA, Inc., and intelligent manufacturer iBeam Materials, Inc. Avisa Diagnostics has developed a breath test that identifies pulmonary infections, with results available in as little as 10 minutes. iBeam Materials has developed technology that enables microLED displays that are superbright, paper-thin, flexible and power-efficient.
In Las Cruces, the grant recipient was the sustainable and green energy company EVUS Inc. EVUS has produced technology that combines electromagnetic Induction with an extended-length Magnetohydrodynamic cell in a compact device. Similar devices have a global market of more than $20 billion per year, according to the EDD news release.