On February 28th Cabinet Secretary Alicia J. Keyes of the New Mexico Economic Development Department announced the first round of awards of Business Start-Up Grants to five science and technology companies.
The grants are meant to assist companies with their early stage endeavors for continuing in the developing of unique products or services that are operating within certain New Mexico key industries such as: biosciences, cybersecurity, aerospace, intelligence manufacturing or sustainable and green energy. Companies are to be “High-growth-potential company” with fewer than 50 employees to be considered for the award.
The Technology Research Collaborative Board (TRC) conducts assessments to see that companies in key industries have an opportunity to expand and to provide solutions. Upon the reviewing of 25 applications the Board found that five companies best represented the resolution of the grant. Of those companies, two are in rural areas. The Start-Up Grants usually amount to $10,000 but the amount may differ depending on what the TRC assesses regarding potential and necessity of a company.
“We have restructured the TRC so it has the expertise to evaluate and make decisions about companies that have the potential to break out, succeed in the marketplace, and create high-paying jobs,” Cabinet Secretary Keyes said.
The Dona Ana County company receiving the award, Mesilla Valley Organics, has goals of attaining 5 percent of the hemp market startup plants by producing a genetically engineered plant strain to thrive in the Southern New Mexico climate conditions. Through testing the company has been able to achieve outcomes of CBD content of ten percent, ten feet in height, and flower weights reaching nine pounds. Dedication to Regenerative Agriculture Practices is shown in the Mesilla Valley Organics’ careful breeding techniques and natural selection i.e. exclusion of laboratory manipulations for their genetically adapted productions.
Additional information regarding the Business Start-Up Grants can be found at the Office of Science and Technology online page at www.gonm.biz/OST and clicking on “S&T Business Startup Grants”, or contacting Myrriah Tomar, Ph.D., Director, Office of Science & Technology, at 505.827.0222 or via email at Myrriah.Tomar@state.nm.us.
Release courtesy of the New Mexico Economic Development Department.
