New Mexico Supports R&D Through Science and Technology Grants
Five New Mexico companies are set to receive $25,000 each from the New Mexico Economic Development Department through their Science & Technology Business Start Up Grants. These companies were selected based on their high growth potential.
These grants are available for New Mexico-based companies that meet certain criteria including being for profit and employing fewer than 50 employees. They must be science and technology based in the areas of aerospace, biosciences, cybersecurity, intelligent manufacturing, and sustainable and green energy.
The five companies selected in this round were selected based on the provision of a unique product or service, a clear business proposition, and the demonstration of a scalable product or model that could provide an economic benefit to the state. These companies include:
- Avisa Diagnostics USA
- Treatment of lung infections with rapid diagnostics to guide better clinical outcomes
- EVUS
- Development of technology in support of water-based heating market and sustainable water treatment processes
- iBeam Materials
- An intelligent manufacturing company working towards development of crystal-aligned coatings with ion-beam-assisted deposition
- Osazda Energy
- Development of additives to help preserve solar panels to enhance sustainable energy possibilities
- Pajarito Powder
- Manufacturing of advanced catalysts for PEM and alkaline fuel cells in electrolyzers
Are you developing new software for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
Who We Are:
Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.
Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.
