Small businesses can participate in the NMSBA Program through three different types of projects:
Individual projects involve a single New Mexico for-profit small business. Projects address challenges specific to the business that can be solved with national laboratory expertise and resources. Technical assistance challenges are wide ranging; however, the majority include testing, design consultation, and access to special equipment or facilities. Requests for individual projects are accepted year round.
NMSBA leveraged projects allow multiple small businesses that share technical challenges to request assistance collectively for a larger project. Leveraged projects should focus on helping NM small businesses solve a specific technical challenge and must be completed within one year. Funding is competitive and ranges from $20-100,000* per laboratory. Proposals for leveraged projects are reviewed twice a year by the NMSBA advisory council. Projects that are well defined, achievable, and relevant to the stated problem faced by the businesses stand a greater chance of being funded.
* The funding limit for leveraged projects is $20-100,000 depending on where the companies are located. For example, three companies are writing a leveraged proposal together. Two are located in Bernalillo County and one in Santa Fe. The most they can propose is $10K+$10K+$20K=$40K because they are leveraging their funding to get a larger project.
Legislation allows the NMSBA Program to contract with entities that have the capability to provide small business assistance services not available in the private sector at a reasonable cost. Current contracts include New Mexico Manufacturing Extension Partnership, University of New Mexico’s Anderson Schools of Management and Management of Technology Program, New Mexico Institute of Mining and Technology Department of Management, and New Mexico State University Arrowhead Center.