(TNS) -- Six companies developing new technologies in partnership with New Mexico’s research universities and national laboratories will benefit from $300,000 in funding to help move new products to market.
Gov. Susana Martinez announced the funding Monday at the University of New Mexico’s Center for High Technology Materials, which is providing technical assistance, critical infrastructure and resources to help startups develop cutting-edge innovation.
The funding, which ranges from $38,000 to $62,000 for six projects, comes from the Technology Research Collaborative, a state-backed organization that unites New Mexico’s research institutions in a joint effort to accelerate the commercialization of new, homegrown technologies.
“The technology we develop and create in our labs and universities is truly incredible, and we need to take full advantage of these opportunities by bringing them to the private sector,” Martinez said. “I am confident that with this funding, we can continue to invest in New Mexico’s bright technological future. And by doing so, we will create jobs, strengthen our institutions and diversify our economy.”
UNM, the Air Force Research Laboratory and Sandia National Laboratories will jointly assist four startups with $212,000:
The grant funding comes from $400,000 the state Legislature approved last year for the Technology Research Collaborative, $300,000 of which was earmarked for targeted commercialization projects, said Patricia Knighten, director for the Economic Development Department’s Office of Science and Technology.
Financial constraints this year, however, prevented the Legislature from approving any new money for the Research Collaborative for fiscal year 2017, which begins in July.
©2016 the Albuquerque Journal (Albuquerque, N.M.) Distributed by Tribune Content Agency, LLC.