Nora Sackett, director of the Technology and Innovation Office at the New Mexico Economic Development Department, told the Legislative Finance Committee that the office created by House Bill 20 has expanded its grant programs to support startups and businesses commercializing innovation in New Mexico.

Sackett said the office focuses on four sectors identified in House Bill 20 — advanced computing, advanced energy, aerospace and bioscience — and has markedly increased the number of funding programs available to companies and research teams.

The office operated two grant programs in fiscal 2023, Sackett said: the SBIR matching grant and the Science and Tech Business Startup Grant. In fiscal 2024, with legislative support, the office added two more programs, piloting an Advanced Energy Award and a Research University Team Pitch Award. In fiscal 2025 the office added a Quantum Technologies Award and funding for pilot and demonstration projects in advanced energy and water; Sackett said fiscal 2026 will continue those programs with the likelihood of at least one additional funding program.

"They would not be here were it not for these programs that the legislature has funded and that EDD is administering," Sackett said, referring to a company named in the office's materials as an example of the programs' local impact. She said the company, YEO Eco Safe, planned to commercialize its University of New Mexico-derived technology in Florida until receiving a grant and connections through the office.

Sackett said the office administers sector-specific business assistance to startups, awards grant funds for early-stage companies establishing a presence in New Mexico, and provides broader ecosystem coordination. She closed by saying she looked forward to committee questions and discussion.

The committee packet included slides and a recent media article the office provided about YEO Eco Safe; the panel also invited committee members to tour the Launchpad later in the afternoon.