New Mexico Advanced Energy Award Pilot Program

The New Mexico Advanced Energy Award Pilot Program is a competitive state-funded grant that awards non-dilutive funds to proposals in advanced energy innovation and commercialization from New Mexico small businesses engaged in research and development. The funds seek to assist early-stage companies developing a unique product with strong growth potential. Through this award, the New Mexico Economic Development Department ultimately seeks to support the retention or expansion of economic-base businesses; the creation of jobs in economic-base businesses; the development of the tax base; and business development. Selected proposals will be awarded between $250,000 and $1,000,000 in funds. Funding will be awarded on a cost reimbursement basis. Awards may not be first money in – evaluation criteria will include the proportion of previously-secured funding from additional sources. The award application will require a detailed executive summary, slide deck/presentation, budget for award funds, and capitalization table. Applicants will be required to provide projections of what they expect the company to look like in the next five years, including staff, revenue, and growth projections.