The New Mexico Economic Development Department’s Technology and Innovation Office has announced the opening of two new grants totaling $5 million to boost technology commercialization and entrepreneurship in the state.
The initiative is divided into two equal funding streams. The Innovation Hubs Grant, with $2.5 million available, will fund projects that develop or improve spaces dedicated to innovation and technology commercialization. These may include shared workspaces, laboratories, equipment, and other collaborative environments.
Another $2.5 million is set aside for the Entrepreneurship Programmatic Support Grant. This grant aims to support operational needs for organizations such as incubators, accelerators, and venture studios that focus on launching or expanding programs advancing innovation and entrepreneurship in New Mexico.
To qualify, proposals must demonstrate support for technology commercialization or entrepreneurship in advanced computing, advanced energy, aerospace, or bioscience sectors.
“These grants represent a significant investment in New Mexico’s innovation infrastructure and system programing,” said Nora Meyers Sackett, director of the Technology and Innovation Office (TIO). “By supporting both physical spaces and programmatic initiatives, we’re creating a comprehensive ecosystem where entrepreneurs and innovators can thrive.”
Proposals will be evaluated by TIO staff based on their strength and requested funds. Grants may be awarded to single or multiple applicants per category. All funded activities are required to finish within 12 months from signing the grant agreement.
Applications are due by Monday, September 8, 2025 at 5 p.m. MST. More information about applications and manuals is available at edd.newmexico.gov/tio.
Two informational webinars will be held on August 18: one at 11 a.m. MST for the Entrepreneurship Programmatic Support Grant and another at 1 p.m. MST for the Innovation Hubs Grant. Registration details can also be found on the EDD website.
For questions regarding these grants, Lindsay Humphries serves as associate director of the Technology and Innovation Office (lindsay.humphries@edd.nm.gov).
The Technology and Innovation Office operates under the New Mexico Economic Development Department with a mission to grow startups and advance emerging tech sectors through investments, partnerships, and statewide programming.
