NM companies receive resources to boost product commercialization and create more jobs

Category: News
Published: 2023-02-01
NM companies receive resources to boost product commercialization and create more jobs

NEW MEXICO – The New Mexico Economic Development Department has awarded grants for the creation of 10 innovative companies to support research and launch the commercialization of products that will create more jobs in the state.

The FY 2023 grants, ranging from $25,000 to $100,000, were awarded through two initiatives, the New Mexico Small Business Innovation Research (NM SBIR) matching grants and the Science and Technology Startup Program, with input from the Technology Research Collaborative (TRC).

“These grantees are a diverse group of New Mexico companies that represent the advancement of the state’s science and technology industry sector. From artificial intelligence to biosciences, these companies help solve complex problems using real-world, high-tech solutions,” said Economic Development Secretary Alicia J. Keyes.

“The group of FY23 awardees represents an excellent cross-section of startups in all of our target industry sectors,” said Office of Science and Technology Director Alexander M. Greenberg.

Small Business Innovation Research (SBIR) Grants are competitive federal supports that assist small businesses engaged in research and development (R&D) with a potential for commercialization. These types of state-level programs often lead to follow-on funding, stimulate business growth and expansion, generate wealth, and increase tax revenues and commercial viability for recipient companies.

The purpose of the NM SBIR grant is to accelerate the commercialization of technologies developed with SBIR awards. The awards will fund and assist New Mexico science and technology companies with the goal of market entry, customer acquisition, business expansion, job creation, and increased tax base.

EnviTrace LLC one of the $25K grantee companies and based in the city of Santa Fe, develops cutting-edge artificial intelligence and machine learning methods and tools to analyze various types of environmental data. Its cloud-based software, GeoTGo, is designed to help communities develop and utilize their geothermal energy resources.

ErgoTech, located in Los Alamos, also received $25,000 in support to develop and sell manufacturing and factory automation software focused on data collection, unified data access, and data lakes for machine learning and artificial intelligence (ML/AI) applications.

MNT Smart Solutions, in Albuquerque was another recipient of $25,000. That company has created a combination magnetic toothbrush and toothpaste product with remotely controlled active particles to revolutionize oral care by attacking plaque in hard-to-reach places and giving users a beautiful, stain-free smile.

Integrated Deposit Solutions (IDS), also from the city of Albuquerque, received a $100,000 grant. This is a small, high-tech company focused on developing a unique aerosol printing technology for the printed electronics industry. The extremely high transmission efficiency of IDS’s aerosol technology makes it ideal for continuous, long-term atmospheric sampling on Venus and other planets, as well as for improving the performance of commercial instruments here on Earth.

Another company to receive $100,000 was NeuroGeneces, located in Santa Fe. That company applies cutting-edge neuroscience, sleep expertise and AI to provide brain health assessments and insights to improve cognitive health.

The science and technology startup grants are awarded to high-growth New Mexico companies with fewer than 50 employees in the fields of aerospace, bioscience, cybersecurity, smart manufacturing, or sustainable and green energy. These companies were awarded $25,000 in support.

Albuquerque-based Hawk Spider, dedicated to building grid-scale, long-duration energy storage systems using commercially available components for producers and large consumers of electricity was one of the awardees.

Hoonify Technologies, also in Albuquerque, benefited. The company brings high-performance computing (HPC) to the general public. Hoonify turbocharges regular hardware and transforms it into a high-performance computer, enabling users to have HPC capabilities in non-traditional environments and at a fraction of the cost of traditional HPC.

Roper Solutions dba Patch in the city of Las Cruces also received support. The company keeps offline workers safe and connected with PATCH, a patented wearable device that creates an encrypted mesh network so you can send text messages, locate your team via GPS and monitor their activity, without the need for cellular, Wi-Fi or satellite service.

Guardian Devices, LLC and Circular Genomics in Albuquerque were the last two companies to receive funding. The former has developed Solar Guardian, a photovoltaic connector that prevents arc faults and stops solar panel fires before they start, while the latter is dedicated to biotechnology and genomics with the vision of using circular RNAs as novel and accurate biomarkers for the diagnosis and better treatment of psychiatric and neurological diseases.