Representatives of NewSpace Nexus, Roadrunner and the Economic Development Department told a legislative panel the state’s emerging tech ecosystem combines navigation and coaching, an expert network, investor showcases and non-dilutive grants to help early-stage companies move from idea to market.

Casey, a NewSpace Nexus representative, described the group’s NewSpace Igniter program as a three-part pipeline: navigation and assessment, expert coaching through an approximately 55-person expert network, and investor and government showcases that link companies to contract opportunities. “We assess where they are, what they need, and we, sort of, have tailored navigation plans for them,” Casey said. Casey told the committee the program had helped companies obtain about $59,000,000 attributable to the program in its first two years.

Maggie, speaking for Roadrunner’s studio model, said Roadrunner employs, trains and launches founders directly and focuses on operational basics such as bookkeeping, cap tables and employment. “We make sure that our companies exit the studio with clean books, with clean cap tables, with proper employment so that they can be successful,” Maggie said, adding that Roadrunner typically helps startups secure non-dilutive r&d funds including SBIR/STTR awards and other federal and state grants.

Nora Sackett, director of the Technology and Innovation Office at the Economic Development Department (EDD), described state grant programs and business-assistance services that aim to reduce founders’ need to “give up 50% of their ownership” early in a company’s life. EDD staff and contractors, she said, provide sector-specific business advice and help companies pursue state and federal non-dilutive funding. Sackett noted a longer-term goal of attracting more companies to set up physical operations in New Mexico: “we have about a third of the companies are New Mexico companies … we have about 10 of those … in different stages of setting up in New Mexico,” she said.

The panel discussed how non-dilutive funding works in practice. EDD’s representatives defined non-dilutive funding as grants or government contracts that do not reduce founder equity; Roadrunner said it has helped companies secure an average of about $500,000 per company in non-dilutive awards. Casey and EDD staff said a significant share of follow-on funds for the program have been government contracts, including SBIR grants and Defense Department procurement.

Panelists said the ecosystem is still building “founder density,” and that in-state assets — notably Sandia and Los Alamos national laboratories and university programs — are central to recruiting outside startups and encouraging them to create local operations. Panelists asked for renewed or sustained funding for intermediary services, noting a partnership intermediary agreement with the Air Force Research Laboratory that helped subsidize navigation activities but is nearing its end.

Legislators pressed panelists on measurable outcomes and asked how many startups ultimately locate in New Mexico. Casey said roughly one-third of participating companies are already New Mexico‑based and that the program is working with about 10 out-of-state companies now moving toward establishing in-state operations. EDD and Roadrunner representatives said state investment in grant programs, workforce pipelines and site readiness would be important to retain and attract firms.

No formal budget commitment or legislative action was made during the panel; participants asked lawmakers to consider renewed support for intermediary grants and for programs that help companies bridge early-stage research and productization without giving up large equity stakes.