| #1 | University of Montana | Missoula | University | $16.2M | 36 | 36 |
| #2 | Montana State University - Bozeman | Bozeman | University | $11M | 32 | 43 |
| #3 | Inimmune Corporation | Missoula | Other | $2.5M | 1 | 1 |
| #4 | Restorear Devices, LLC | Bozeman | Other | $1.3M | 2 | 2 |
| #5 | Nanovalent Pharmaceuticals, Inc. | Bozeman | Other | $1M | 1 | 2 |
| #6 | Mc Laughlin Research Institute | Great Falls | Research Institute | $929.7K | 2 | 6 |
| #7 | Montana Cancer Consortium | Billings | Other | $664.2K | 1 | 2 |
| #8 | Fort Belknap Indian Community | Harlem | Other | $564.2K | 1 | 2 |
| #9 | Montana State University -Billings | Billings | University | $499.7K | 2 | 3 |
| #10 | Blackfeet Community College | Browning | University | $464.1K | 1 | 3 |
| #11 | Montana Consortium for Urban Indian Health | Helena | Other | $447.9K | 1 | 1 |
| #12 | Montana State Department of Agriculture | Helena | Other | $390K | 1 | 1 |
| #13 | Missoula Aids Fund, Inc. D/B/A Open Aid Alliance | Missoula | Other | $375K | 1 | 1 |
| #14 | Dermaxon, LLC | Missoula | Other | $290.9K | 1 | 1 |
| #15 | Hopa Mountain | Bozeman | Other | $241.8K | 1 | 1 |
| #16 | Montana State Dept/Pub Hlth & Human Srvs | Helena | Other | $175K | 1 | 1 |
| #17 | Montana Technological University | Butte | University | $145.8K | 1 | 1 |
| #18 | Salish Kootenai College | Pablo | University | $97.1K | 1 | 1 |
| #19 | Montana Department of Labor and Industry | Helena | Other | $87K | 1 | 1 |
| #20 | Western Association /Food/Drug Officials | Great Falls | Other | $25K | 1 | 1 |
