Investment & Funding
A New Model for Funding
In order for an industry to survive and thrive, research, skill, and ambition must be supported by capital.
While a variety of factors play a part in the successful launch of a new endeavor, adequate funding usually rises to the top as a primary concern. When it comes to the biosciences and tech industry, it can be difficult to draw a straight line from initial investment to final product, which is why it is essential for the public sector to provide an extra layer of financing and support. Thankfully, for New Mexico’s burgeoning bioscience industry, a myriad of funding opportunities are available, including investment funding and matching plans at the state and local level.
The Legislative Advantage
With the support of the state’s legislative body, the New Mexico Bioscience Authority is a highly effective source of information on funding resources and job creation.
Reducing risk and stimulating investment is key to our goal of fostering communication between the state’s bioscience industry stakeholders. In fact, the wheels are already in motion to help connect financing with industry. New Mexico Bioscience Authority offers information on community guidelines and tax incentives for businesses and start-ups considering establishing a foothold in the state. At the state level, we work to draft legislation incentivizing bioscience growth, lobby for tax breaks and work to provide access to the state capital to all interested organizations.
The state also provides several financing incentives, including matching private sector support 2:1 with an annual cap of $500,000 through 2020. In addition, with the creation of the Bioscience Development Act, along with tax incentives and access to state pension fund investment, New Mexico has established a robust and critical source of capital capable of sustaining and prioritizing the growth of the state’s bioscience industry. This comprehensive financing framework also has a proposed $.50 tax on e-cigarettes to provide incentives, to continue grow infrastructure, and create jobs.
Along with traditional funding sources, the New Mexico Bioscience Authority also operates as a clearinghouse for information on financing and investment opportunities. We offer information on community and state guidelines as well as available tax incentives for businesses and start-ups looking to put down roots here in the state.
The groundwork is already being set for the creation of additional grants, and other forms of alternative financing, to help spur growth and expand bioscience business opportunities. By fostering a collaborative environment that encourages support from both the public and private sector, New Mexico has developed a multifaceted financing plan designed to help startups and existing bioscience companies establish a foothold in the state.
Investing in Innovation
Economic growth relies on innovation. Without the right leadership and vision, industries with exceptional growth potential can still end up floundering in a sea of red tape and missed opportunity.
By connecting research and development to adequate and available funding, new industries can bolster state and local economies through job creation, fostering a robust tax base, and luring even more capital and corporate investment. In many regions, the public sector and private sector work in concert to provide innovative strategies designed to foster development and promote technological advances. By providing the connective tissue necessary to a thriving bioscience industry, the New Mexico Bioscience Authority unites all the facets of financing, research, and labor so the right resources can connect with the right opportunities.