The Capital Leverage grant allows advanced technology companies and research institutions that secure at least $1 million in federal, philanthropic or private investment to receive at least $1 million in state funds to boost their growth and maximize their impact.

At-a-glance:

What this is: An always-open (rolling) solicitation that uses Research, Development and Deployment (RD&D) Fund grants to match or otherwise leverage qualifying outside funding—federal or other non-State public, philanthropic, or private—into New Mexico projects that advance the commercialization of new technologies in the state’s target sectors.

Instrument: Grants only.

Who can apply: A New Mexico public entity, or a business registered to do business in New Mexico (or that commits to register before any funds are disbursed).

Minimum RD&D Fund grant: $1,000,000 per award.

Minimum non-State funding: $1,000,000 per project.

Pathways:

1. Requests up to $10,000,000 proceed under Pathway 1
2. . Requests above $10,000,000 proceed under Pathway 2, which requires supplemental application information and has an extended review period.

How it works:

1. Submit a short letter of intent (LOI). TIO will target a 21-calendar day response, encouraging or discouraging a full application.
2. Submit a full application. TIO will screen it for eligibility and program fit, score it against the evaluation criteria published in this solicitation, and make an award decision.
3. If selected for funding and depending on the status of the outside funding, TIO will issue a commitment letter or proceed directly to grant agreement negotiation.

Deadlines: Letters of intent and applications are accepted and decided on a rolling basis for as long as funding remains available, subject to TIO’s discretion.

Target turnaround: TIO aims to respond to letters of intent within 21 calendar days. For Pathway 1 requests, TIO aims to decide complete applications within approximately 60 calendar days of receipt. For Pathway 2 requests, TIO targets a decision within approximately 90 days, extendable at TIO’s discretion based on the size, complexity, or other aspects of the proposed project. This solicitation includes an optional expedited review process in cases of documented exigent circumstances (§ 7.c). Response timelines begin on TIO’s receipt of the relevant complete submission but no earlier than October 1, 2026.

Targeted Federal Match 

TIO is now accepting applications for the Targeted Federal Match solicitation, the first under the state’s new Research, Development & Deployment (RD&D) Fund. It is dedicated to matching funds for a defined set of priority federal programs that align with the state’s technology and innovation priorities and target sectors. State matching funds are available for projects that secure at least $1 million in non-state funding. 

At-a-glance: 

• What this is: An always-open (rolling) solicitation that uses Research, Development and Deployment (RD&D) Fund grants to match or otherwise leverage funding from priority federal programs into New Mexico projects. 
• Instrument: Grants only. 
• Who can apply: A New Mexico public entity, or a business registered to do business in New Mexico (or that commits to register before any funds are disbursed). 
• Minimum RD&D Fund grant: $1,000,000 per award. 
• Minimum non-State funding: $1,000,000 per project. 
• How it works: Apply or otherwise pursue non-State funding; TIO runs a light eligibility and RD&D-fit screen; TIO issues a commitment letter you attach to your application or other proposal; TIO reserves the funds and disburses them only if you win the outside award or funding. 
• Deadlines: Applications are accepted and decided on a rolling, first-come, first-served basis for as long as funding remains available. 
• Target turnaround: Within 20 working days of a complete application. TIO offers an expedited option in the case of documented exigent circumstances. 

If you have questions about your submission, please reach out to our Director, Nora Sackett at nora.sackett@edd.nm.gov