The New Mexico Economic Development Department’s Office of Strategy, Science and Technology is allocating $25 million to establish a quantum venture studio and physical space aimed at accelerating quantum technology innovation and commercialization.
The funding, appropriated during the 2025 legislative session, aims to increase quantum industry activity in New Mexico and lay the groundwork for future investments.
“By leading the way in technology and innovation, New Mexico is charting a course toward a prosperous future,” Gov. Michelle Lujan Grisham said. “With top-tier resources like our national labs and research institutions, advanced talent and a growing quantum ecosystem, we’ve established a robust hub that will drive progress and transform our communities.”
In 2024, New Mexico, along with Colorado and Wyoming, formed the Elevate Quantum consortium, securing designation as the first and only funded Quantum Tech Hub in the federal Economic Development Administration Tech Hubs program. The state is also supporting the New Mexico Quantum Moonshot, a proposal to the National Science Foundation’s Regional Innovation Engines program.
“New Mexico is becoming the quantum state, and this builds on our deep expertise and capabilities in this innovative field,” EDD Secretary Rob Black said. “Our investments today ensure our position at the forefront of real-world innovation and industry transformation.”
The Request for Proposals (RFP) seeks projects that integrate infrastructure with support mechanisms to stimulate startup formation, private investment, and technology commercialization. Up to $12.5 million is available for a physical space and up to $12.5 million for the operation of a quantum venture studio. The funding will be awarded under one contract, expecting collaboration among multiple entities.
Interested parties can find more information at edd.newmexico.gov/public-notices. Proposals are due June 24, with a pre-proposal conference scheduled for June 5. The RFP and contract will be managed by the EDD Office of Strategy, Science & Technology, which will transition into the Technology and Innovation Office.
I’m sorry, I follow science news all the time, but I have no idea what quantum technologies might consist of or what it would mean for NM to be the “quantum state.” Are we just talking about quantum computing? Could the author have provided even a very basic definition for these terms? I mean, we don’t typically hear about venture studios at all, let alone quantum venture studios. I had to look this up.