New Mexico Quantum Technologies Award

The New Mexico Quantum Technologies Award (NMQTA) is a competitive, state-funded grant program administered by the New Mexico Economic Development Department (EDD), specifically through its Technology and Innovation Office (TIO). The purpose of the NMQTA is to stimulate the growth and relocation of early-stage companies working in quantum and quantum-enabling technologies by supporting their development within New Mexico. This program aligns with the state’s broader economic objectives of cultivating innovation, creating high-quality technology jobs, and building a robust ecosystem for advanced scientific sectors. The NMQTA awards non-dilutive funding to eligible for-profit companies, with individual awards of up to $200,000. These funds are intended to support activities directly conducted within New Mexico and are tied to clearly defined milestones to be completed within twelve months of grant agreement execution. Awardees receive the full grant amount upfront and are subject to monthly check-ins and quarterly reporting obligations. Funding may not be used for alcohol, drugs, or food, and is subject to use caps—only 25% may be allocated to payroll, and a maximum of 10% to trade show or conference participation. Eligibility for this grant requires companies to be legally formed entities that have already secured external funding. New Mexico-based companies must have a valid Business Tax Identification Number (BTIN), a physical address in the state, appropriate NAICS classification, and staff located in New Mexico. Out-of-state applicants must affirm their ability to establish a New Mexico presence by June 1, 2026, including meeting all business registration and staffing requirements. All applicants must commit to maintaining their presence in New Mexico for at least two years post-award and must not be involved in any legal claims or lawsuits. The application process is rolling, with a final deadline of April 30, 2026, at 5:00 PM MST. Submissions are made online and require documentation including a proposal, slide deck, budget, capitalization table, and business plan. Prior recipients of the FY25 pilot program are eligible to apply. Applications will be reviewed monthly, and award decisions will be based on multiple evaluation criteria including commercialization potential, alignment with the quantum ecosystem in New Mexico, team experience, intellectual property position, and potential economic impact such as job creation. Successful applicants must enter into a grant agreement that includes stipulations for ongoing New Mexico operations, compliance with reporting requirements, and acknowledgment of the EDD’s support in public-facing materials. Grantees must submit a final report no later than thirteen months after agreement execution, detailing outcomes, expenditures, and the broader impact on the state. The number of awards is contingent upon available funds, and all final determinations will be communicated by the TIO. For further assistance, applicants may contact Mark Gilboard or Esteban Martinez, both Senior Economic Development Coordinators with the TIO, using the provided email addresses or phone numbers. An informational webinar was held at the beginning of the application period, and a recording is expected to be made available on the EDD website.

Highlight NM presence and prior funding; emphasize commercialization and quantum ecosystem alignment