New Mexico Research, Development and Deployment Fund

The New Mexico Research, Development and Deployment Fund is administered by the Technology and Innovation Office of the New Mexico Economic Development Department. The Fund is intended to catalyze innovation, economic growth, and job creation by providing capital and financial support to emerging technologies, start-up businesses, and research initiatives aligned with New Mexico's economic development goals. The Targeted Federal Match Solicitation is Track 1 and the Fund's first solicitation. It is designed to move quickly by using RD&D Fund grants as matching or leveraging contributions that can help New Mexico projects compete for priority federal funding. Instead of conducting a full state-level merit competition, TIO performs a limited eligibility and program-fit review and relies on the outside federal funder's own process for the primary merit determination. Under Track 1, an RD&D Fund grant may serve as the matching or leveraging contribution needed to pursue an eligible outside award. The State reserves the approved amount through a commitment letter and disburses RD&D Fund money only if the applicant wins the underlying outside funding. Eligible projects may fall anywhere along the research, development, and deployment continuum and may address aerospace and space, biosciences, clean energy and water, advanced computing including artificial intelligence, quantum computing and cybersecurity, or other sectors TIO determines are strategic and important to statewide economic development. The solicitation specifically references existing growth areas such as quantum systems and applications, advanced energy technologies, space, aerospace and defense systems, biosciences innovation, and agricultural, water and ecosystem technologies. Federal SBIR/STTR Phase I and Phase II awards are excluded except for qualifying Strategic Breakthrough Awards with an RD&D Fund request meeting the $1,000,000 minimum. Eligible applicants are New Mexico public entities or businesses registered to do business in New Mexico. A business that is not yet registered may apply if it commits to register before RD&D Fund money is disbursed. Public entities include political subdivisions of the state, state agencies, national laboratories, and public post-secondary institutions in New Mexico. National laboratories and public post-secondary institutions may lead projects, although TIO encourages industry-led applications and considers commercialization and in-state economic impact. Every eligible project must be reasonably expected to accomplish at least two of six statutory goals in New Mexico: advance innovation in a target sector; foster collaboration among private industry, a national laboratory, a federal agency, or a public entity; leverage federal or private investment; create new economic opportunities; create new jobs and workforce-training opportunities; or advance commercialization of a technology in a target sector. The applicant must be pursuing one of the priority federal programs maintained on TIO's Targeted Federal Match website, and the outside program must either require match or cost-share or reward match or other committed capital in its evaluation. When a federal program requires match or cost-share, the applicant must provide the relevant funder solicitation language and TIO follows the outside funder's rules. When additional match or committed capital is rewarded rather than required, the applicant must explain how the RD&D Fund support improves the project's likelihood of winning. Every RD&D Fund grant under this solicitation must be at least $1,000,000, and every project must have at least $1,000,000 in non-State funding, resulting in a minimum total project cost of $2,000,000. The solicitation states no separate State maximum award or matching formula. TIO may negotiate the amount requested based on project need, outside-funder rules, the extent to which State support changes the competitive outcome, and overall demand for the Fund. Awards may span multiyear project periods. Pre-award project spending may be permitted when necessary to meet an outside deadline, but such spending must use non-State or institutional funds, and a portion of an award may be used for administrative costs associated with implementing the project. Applications are accepted through TIO's Submittable portal on a rolling basis with no final deadline and are reviewed first-come, first-served while funding remains available. The application requires applicant identification and New Mexico registration information, a primary contact, target sectors, and a brief project description; an evidence-based explanation of how the project meets at least two statutory goals; identification of the priority federal opportunity, its application or award deadline, and the amount of RD&D Fund support requested; documentation or justification for the match or leverage basis; a project budget showing State and non-State sources; one or more letters of support or resource commitment; and, for a public entity, at least one partnership agreement with an entity not under the applicant's control. Applicants must also provide an RD&D expenditure timeline, a timeline for availability of non-State funds and any applicant match, the methodology for valuing any in-kind contribution, and disclosure of other matching or leveraging funds, including New Mexico's DFA federal-match fund. An applicant may request expedited review by submitting documentation of exigent circumstances. TIO conducts a light eligibility and fit screen rather than comparative scoring. It checks applicant eligibility, satisfaction of the two-of-six test, alignment with a target sector, whether the federal opportunity requires or rewards match, and compliance with the $1,000,000 RD&D Fund and $1,000,000 non-State funding minimums. TIO targets a decision within 20 working days after receiving a complete application, with faster review possible at its discretion when documented circumstances justify expedition. If approved, TIO issues a commitment letter that may accompany the applicant's outside funding proposal. The letter conditionally reserves funds but is not itself a grant award or guarantee of payment. Disbursement requires the applicant to win the outside award, remain eligible and registered in New Mexico, execute a grant agreement, comply with applicable requirements, and have funds remain available. Commitment letters generally remain in place while the underlying funding application is pending, although TIO may establish expiration terms or release a reservation if the outside opportunity closes without an award, the applicant withdraws or becomes ineligible, or other reasonable grounds apply. The solicitation provides no named individual contact, email address, or telephone number.

Apply early because complete applications are reviewed first-come, first-served while funds remain. Demonstrate at least two statutory project impacts with evidence. Emphasize additive New Mexico activity, commercialization, job creation, capital investment, and in-state economic impact where applicable. Tie the requested State support to the outside funder's match rules or explain clearly how committed State capital improves competitiveness. Disclose all other matching or leveraging funds. If expedited review is needed, provide documentation supporting the exigent circumstances.