New Mexico Statutes Chapter 6. Public Finances § 6-31A-2. Definitions

A. “applicant” means a person or entity applying for project funding;

B. “applicant match” means money for a project provided by an applicant or a partnering entity that is not a political subdivision of the state;

C. “board” means the technology and innovation network advisory board established pursuant to Section 3 of this 2025 act;

D. “business” means any corporation, partnership, limited liability company, joint venture or other similar legal entity registered in New Mexico;

E. “department” means the economic development department;

F. “division” means the technology and innovation division of the department;

G. “documented need” means language in solicitations for non-state funding or other communications from authorized officials within a non-state funding agency or corporation that clearly states that regional or institutional support, commitments or matching funds will be used in the evaluation of proposals for non-state funding;

H. “fund” means the research, development and deployment fund;

I. “public entity” means a political subdivision of the state, a state agency or a national laboratory or public post-secondary educational institution in New Mexico;  and

J. “target sector” means aerospace and space, biosciences, clean energy and water, advanced computing, which includes artificial intelligence, quantum computing and cybersecurity, and other sectors that are strategic and important for statewide economic development.