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Sandia and Los Alamos national laboratories are accepting statements of intent through Sept. 3 for the new Technology Readiness Gross Receipts Tax Credit Initiative. The program offers up to $150,000 in technical assistance for businesses that provide promising concepts to mature licenses obtained from or developed with the labs into commercial products. (Photo courtesy of Randy Montoya)
Copyright © 2020 Albuquerque Journal
_copyright”>Copyright © 2020 Albuquerque Journal
A new state program allows eligible New Mexico companies to work with scientists and engineers at Sandia or Los Alamos national laboratories to advance technology developed at the labs into market-ready programs and services.
But the first deadline is approaching quickly.
The Technology Readiness Gross Receipts Tax Credit Initiative, signed into law earlier this year, allows selected companies to receive up to $150,000 in direct technical assistance per year, according to a news release from Sandia National Laboratories.
Technical assistance includes prototyping, proof-of-concept, field demonstrations, testing and development, technical validation and other activities, according to the release.
The initiative is a three-year pilot program, designed to address the stage between technology development and commercialization. Once technology is transferred out of the labs, it often requires significant capital investment, and businesses often lack the funding to let the technology mature.
Statements of intent from companies looking to participate are due Sept. 3, according to the release. After receiving all statements, the laboratories will complete an interview to establish eligibility by Sept. 17.
From there, eligible companies will then complete written proposals and prepare presentations by Oct. 14. Invited companies will present to a review panel the following week, and funding decisions will be announced by Oct. 26, the release said.
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