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New Mexico Economic Development Department launches new tech grants
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The state Economic Development Department has launched two new grants — offering a combined $5 million — to support entrepreneurship and technology commercialization, it announced this week.
The grants, offered through the EDD’s Technology and Innovation Office, each have up to $2.5 million available for applicants.
Nora Meyers Sackett, Technology and Innovation Office director, told the Journal that the grants are state-funded with money appropriated during the 2025 legislative session. The awards are geared toward organizations providing programming and support for entrepreneurship and innovation in the advanced computing, advanced energy, aerospace and bioscience sectors, she said.
“These grants represent a significant investment in New Mexico’s innovation infrastructure and system programming,” Meyers Sackett said in a statement. “By supporting both physical spaces and programmatic initiatives, we’re creating a comprehensive ecosystem where entrepreneurs and innovators can thrive.”
According to an EDD news release, the Innovation Hubs grant provides funding to develop, expand or improve physical spaces “that foster innovation, entrepreneurship, and technology commercialization.”
The Entrepreneurship Programmatic Support grant looks to support operational needs of entrepreneurship-focused organizations in New Mexico, including incubators, accelerators and venture studios.
Applications for both grants close Sept. 8, with awards scheduled for mid-October. Those interested can find more information on and apply for grants on the EDD’s website.
“The needs that they seek to fill with this funding are really important elements of building a strong state ecosystem for technology, innovation, commercialization. That work doesn’t happen in a vacuum,” Meyers Sackett said.
