Updated: June 10, 2021 06:21 PM
Created: June 10, 2021 04:43 PM
ALBUQUERQUE, N.M. - A unique partnership is revving up businesses in New Mexico.
The technology readiness gross receipts tax credit (TRGR) initiative, connects scientists and engineers at Los Alamos or Sandia national laboratories to businesses.
The goal of TRGR is to help projects along through the commercialization process.
“High level companies can work with scientists and engineers at the labs to advance the maturation of patents, software, anything related to an active license between the labs or where work has been developed through collaborative research," said David Kistin, manager of Technology and Economic Development.
TRGR is the only program of its kind in the country. "I think it’s amazing the national labs have a lot of capabilities and to be able to bring those out to the New Mexico business community is really great," said Kistin.
“Trigger” (TRGR) gives technology assistance to businesses up to $150,000 per year.
“There are a couple of requirements that are mandatory for the program and one is that companies who utilize the program have to license a technology from Sandia or have an existing license," said Genaro Montoya, Sandia Program lead for TRGR.
It’s funded through a one-time appropriation from the state of $4.5 million, reimbursed over three years.
This is the first year of the three-year pilot program.
"Our first year we have four companies that are currently working with sandia and we just had another application round and expect to on board another set of businesses this summer which is real exciting," said Kistin.
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