Monica Torres Chancellor of NMSU System Community Colleges | nmsu.edu
Monica Torres Chancellor of NMSU System Community Colleges | nmsu.edu
Arrowhead Center at New Mexico State University has secured a $200,000 grant from the U.S. Small Business Administration's Federal and State Technology Partnership Program. This funding aims to continue supporting startups and small businesses in New Mexico, helping them navigate the technology commercialization landscape.
The center is now in its 10th year of receiving funding through this program. Arrowhead officials expressed gratitude towards the SBA and administrator Isabel Casillas Guzman for their ongoing support.
Over nearly ten years, NM FAST has assisted clients in obtaining over $25 million in Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) investments. The focus remains on historically underserved startups and communities, with more than 400 unique clients having received support, over 80% of whom accessed SBIR/STTR opportunities for the first time.
NM FAST's programming continues to emphasize supporting entrepreneurial communities that have been traditionally overlooked. Approximately half of NM FAST’s startups are minority-owned, and one-third are women-owned.
“We are honored by the SBA’s continued investment in Arrowhead through the FAST program. This critical funding strengthens our capacity to support New Mexico’s entrepreneurs in accessing the resources, guidance and capital needed to bring their innovations to market,” said Dana Catron, interim director and CEO of Arrowhead Center and director of NM FAST. “We are committed to ensuring New Mexico’s diverse innovators have the tools to thrive in today’s competitive technology landscape. This grant reinforces our commitment to fostering economic growth and advancing technology commercialization in New Mexico, positioning the state as a leader in innovation.”
The FAST program has enabled Arrowhead Center to assist numerous entrepreneurs across New Mexico by securing funding, forming strategic partnerships, and navigating SBIR/STTR programs' complexities. Over $70,000 in microgrants have been distributed, alongside more than 100 workshops aimed at preparing startups for SBIR/STTR funding applications.
Success stories include Aperi CMC securing three out of six submitted SBIR awards with help from FAST; NeuroGeneces acquiring four SBIR awards for near-market-ready products; Backyard Farms submitting grants with guidance from Arrowhead Center's FAST program; among others.
Arrowhead Center is focused on reaching more entrepreneurs from underserved communities with this increased funding. The grant will enhance support for woman-owned, rural-based, socially or economically disadvantaged businesses through specialized training, mentorship, and technical assistance.
The FAST program continues as a valuable resource for entrepreneurs aiming to leverage America's Seed Fund – the SBIR/STTR programs – for early-stage funding opportunities.
Catron emphasized looking forward to another impactful year with SBA partnership while acknowledging partners', mentors', and participants' contributions toward these successes.
New Mexico startups interested in engaging with SBIR/STTR programs can apply through NM FAST at https://arrowheadcenter.nmsu.edu/program/nm-fast/.
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