Program Overview

NM FAST Program Overview

The NM Federal and State Technology (NM FAST) program is designed to assist New Mexico small businesses in developing competitive SBIR and STTR proposals. The program provides expert guidance, resources, and support to secure federal funding for innovative ideas and technologies.

Eligibility

The program is open to New Mexico-based small businesses pursuing SBIR or STTR funding to advance the research, development, and commercialization of innovative technologies.

Program Details

The NM FAST program is housed at Arrowhead Center at New Mexico State University and is funded in part through a Cooperative Agreement with the U.S. Small Business Administration. Since its inception in October 2015, NM FAST has assisted over 441 small businesses across New Mexico in their pursuit of SBIR/STTR funding, providing training, webinars, and extensive guidance in a broad range of services.

Services

NM FAST offers a wide range of services to clients in their pursuit of SBIR/STTR funding, including:

• Weekly office hours
• A wide range of services to support SBIR/STTR funding
• SBIR 101 guidance
• Self-guided, self-paced Canvas LMS courses
• SBIR/STTR Accelerator (ACSA) support
• Innovation Summit events
• Agency information pages to clarify the proposal process and priorities
• Available resources for Arrowhead Center Clients

SBIR/STTR Overview

The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs are federally funded programs designed to move early-stage technologies towards commercialization. Both programs have three phases:

• Phase I: focused on establishing technical merit (up to $306K awards)
• Phase II: focused on continued R&D efforts
• Phase III: focused on commercialization efforts resulting from the previous two phases

Eleven federal agencies participate in the SBIR program, and six of those also participate in the STTR program, allowing for a breadth and depth of innovative potential that covers every domain of science, research, and development.

Program Association with SBIR/STTR

The NM FAST program provides SBIR and STTR proposal development assistance to small businesses throughout New Mexico. Securing federal funding for innovative ideas or technologies is a critical step towards commercial success. NM FAST provides the resources, support, and expertise necessary to submit a highly competitive proposal. While NM FAST primarily focuses on innovative companies in the state of New Mexico, it can provide limited assistance to companies in other states.