NMEDD News:
SANTA FE — The New Mexico Economic Development Department (EDD) Technology and Innovation Office has awarded $2.7 million in grants to 2 organizations to develop and broaden the bodily infrastructure that helps innovation, entrepreneurship and expertise commercialization throughout the state.
For this inaugural award cycle, Albuquerque-based New Mexico Venture Studios secured $2 million to construct a life-sciences lab, and the Santa Fe-based New Mexico Innovation Hub gained $700,000 to develop an innovation campus in Santa Fe’s rising Midtown hall.
With the Innovation Hubs Grant, New Mexico Venture Studios will remodel an present Albuquerque warehouse right into a specialised moist lab, dry lab and workplace area. This funding addresses a crucial infrastructure hole that usually forces life science and deep tech startups to depart the state in the hunt for appropriate amenities.
The laboratory and workspace will likely be designed to help firm formation and scale-up, enabling startups to commercialize analysis, retain mental property and generate financial influence inside New Mexico.
With help from the Innovation Hubs Grant, New Mexico Innovation Hub will renovate Benildus Hall in Santa Fe Midtown as the house of a brand new state-of-the-art innovation campus. The 32,000-square-foot facility will present important infrastructure, together with superior prototyping tools, a high-performance computing cluster, lab area, places of work and occasion area.
These sources will help early-stage firms, workforce improvement and cross-sector collaboration, creating a middle of gravity for New Mexico’s innovation financial system and attracting prime expertise and corporations from all over the world.
The awardees have been chosen by way of a aggressive analysis course of that included their anticipated contributions to financial development and diversification and their alignment with a number of of the division’s precedence sectors: superior computing, superior vitality, aerospace and protection programs, and bioscience.
The New Mexico Innovation Hub Grant helps the creation and enchancment of labs, places of work, prototyping area and collaborative environments that present the foundational sources firms want to start out, scale and achieve New Mexico. Launched in 2025 with new legislative funding, this system is designed to deal with gaps in entrepreneurial infrastructure as recognized within the state’s Science & Technology roadmap. Both workspaces will turn into operational inside a 12 months.
“This funding supports the building of spaces where ideas become innovations,” stated EDD Cabinet Secretary Rob Black. “By strengthening the physical infrastructure that supports and connects innovators, investors, scientists, and academics, we’re ensuring New Mexico has the capacity to turn ideas into companies and companies into long-term economic drivers.”
“New Mexico’s innovation ecosystem doesn’t just depend on our research depth and innovative spirit — it also requires access to the right spaces and facilities,” stated Nora Meyers Sackett, director of the Technology and Innovation Office. “These new grants address critical infrastructure gaps and help ensure that companies can start, scale, and stay in New Mexico.”