NMSBA leveraged projects allow multiple small businesses that share technical challenges to request assistance collectively for a larger project. Leveraged projects focus on helping NM small businesses solve a specific technical challenge and must be completed within one calendar year.
Funding is competitive and ranges from $40,000-$120,000* per laboratory project. Projects that are well defined, achievable, and relevant to the stated problem faced by the businesses stand a greater chance of being funded.
Projects selected for leveraged funding will support the New Mexico Small Business Assistance Program’s core mission and key objectives to:
- Help New Mexico small businesses address critical challenges.
- Utilize the unique capabilities of the national laboratories by providing expertise and services that are not available at reasonable cost through private industry.
- Offer strategic value, technical feasibility and economic potential that can further develop the small businesses in New Mexico.
- Positively impact the national laboratories by aligning with existing or emerging laboratory program areas, offering potential to attract other funding or license laboratory technologies, and promoting meaningful collaboration between the national laboratories.
Proposals for leveraged projects are reviewed twice a year by the NMSBA advisory council. During each open call, businesses may submit their application here.
Proposals must also comply with the guidelines and eligibility requirements of the New Mexico Small Business Assistance Program.
* The funding limit for leveraged projects is $40,000-$120,000 depending on where the companies are located. For example, three companies are writing a leveraged proposal together. Two are located in Santa Fe County and one in Curry. The most they can propose is $20K+$20K+$40K=$80K because they are leveraging their funding to get a larger project.