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HavocAI Secures $11M in Seed Funding

New Hampshire Patent of the Month - December 2021

HavocAI, a new Rhode Island startup, has secured $11 million in seed funding in a round led by Trousdale Ventures and Scout Ventures. The investment will help the startup bring low-cost, collaborative, autonomous surface vessels to market.

The new funding will support the company as they ramp up production and deploy their fleets in global waters.

HavocAI’s un-crewed vessels can act as a first line of defense against maritime threats, equipped with explosive and electronic warfare warheads and with the proven capability to launch both subsurface and airborne drones. Plus, electronic warheads disable enemy drones, allowing them to be captured or destroyed with surgical precision.

HavocAI has committed their engineers to extensive R&D, building vessels with greater speed and defensibility. Through this effort, they have designed naval drones capable of neutralizing enemy combatants and surface threats, operating in denied-communication zones, and working with air and sub-surface autonomous systems, creating a holistic defense web.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Oklahoma’s Entrepreneurs Could Secure New Funding

Investments in innovation can boost economies and keep an industry growing. This logic is exactly why Oklahoma is investing in entrepreneurs with the next big idea.

The Builders + Backers Idea Accelerator is offering all Oklahomans over 18 a chance to test their entrepreneurial ideas by providing up to $5,000 in non-dilutive grants. Applicants do not need a full-formed business plan and pitch. The application simply requires an idea.

Those selected will partake in a 90-day virtual program without needing to quit their day job. The program will take off in November. The deadline to apply is Sept. 29, 2024.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Entrepreneurs Gather at Denver Startup Week

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Startups in Denver are gathering for the annual conference at Denver Startup Week. The week-log event has taken place for over a decade, bringing attention and celebration to the entrepreneurial spirit in the city.

Their website boasts, “Since 2012, our annual event routinely brings over 10,000 people together with 200+ programs and events to celebrate Denver’s thriving entrepreneurial ecosystem and build the center city’s culture of innovation.”

The 2024 conference is taking a slightly different approach from the past. Organizers are leaning on people from the startup community to plan their own meetings at venues around the city and condensing the timeline for official gatherings.

Despite this change, the conference is still hosting 70 events throughout the week, with an additional 170 meetings planned throughout the city. The new format was intended to amplify the energy in a few core locations.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

OptiTrack Opens New R&D and Manufacturing Facility

NaturalPoint (DBA OptiTrack) has opened a new manufacturing facility in Corvallis, Oregon. NaturalPoint is a subsidiary of Planar Systems, whose parent organisation is Beijing-based Leyard Optoelectronic.

OptiTrack provides 3D tracking technology with a comprehensive range of cameras, software and accessories. The firm’s new facility expands its presence in Corvallis which already houses the company’s headquarters and manufacturing operations.

The building, spanning 25005 sq ft, offers a new surface-mount technology (SMT) line and increased warehouse storage capacity. It also provides dedicated spaces for prototyping, additive manufacturing and assembly.

The upgraded facility allows it to better meet demand for 3D tracking solutions as well as shorten lead times for customers worldwide. Furthermore, it will also create new jobs and bolster its on-site research and development efforts.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

KnitIt Swaddles New Industries

New Mexico Patent of the Month - June 2021

KnitIt, a startup based in Holland, Michigan, is directing its baby swaddle technology to the healthcare and aerospace industries. The company’s flagship product, Swaddelini, is a 3D knit baby swaddles where the user gets a say in every stitch.

“Instead of walking into a fabric store and ‘feeling what fabric speaks to you,’ you have control of every stitch,” said Liz Hilton, founder. “Imagine you’re building a brick wall, and you have control over the size, shape and texture of each brick, and that’s knitting.”

The Swaddelini is woven from an elastic yarn and post-consumer nylon fiber all manufactured in North Carolina. Hilton said the material is soft, strong and safe for babies. Units are made from 16 automated knitting machines, so the finished product comes out in one piece.

There’s also one larger, more high-tech machine in the factory used for research and development of new products. This space is currently exploring the potential of applying their technology in tubular solutions in both the health care and aerospace industries.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Northeastern University Launches New ClimateTech Incubator

A new ClimateTech Incubator from Northeastern University’s Roux Institute has been launched with the aim of supporting startups and spurring green job growth in the state.

The state Governor’s Energy Office provided part of the seed-funding and set a goal to see 30,000 clean energy jobs by the end of the decade.

“Opportunities like this are going to help us meet those targets. It’s good for our clean energy future, it’s good for our environment, and it’s good for our economy too,” Director Dan Burgess said.

The accelerator brings a dozen climate and environment-focused start-ups to the Portland-based program, where they’ll have access to prototyping spaces, mentorship opportunities, investors, and academic and business help.

The incubator has already selected its first round of startups, including Bluebel, a sustainable battery management startup. Bluebel is hoping to use the time in Maine to test and customize lithium battery packs (often used in microgrids) to be better suited to the local environs.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Phagelux AgriHealth Announces Phagelux Animal Health

Phagelux AgriHealth has launched a new subsidiary – Phagelux Animal Health – focused on developing innovative products for the animal health industry based on bacteriophage technology.

The new subsidiary will be based in Ames, Iowa and will conduct extensive research into bacteriophage technology. Bacteriophages are natural viruses that target and eliminate specific pathogenic bacteria to reduce disease in animals, enhance productivity in protein production, and improve food safety. Phagelux Animal Health intends to harness the power of bacteriophages to improve the health of livestock without the need for antibiotics and heavy chemicals. Phages are completely safe and non-toxic, enhancing sustainability and reducing the risk of antimicrobial resistance.

“We are excited to launch Phagelux Animal Health and contribute to the animal health industry with our expertise in bacteriophage technology,” said Mark Engel, CEO of Phagelux AgriHealth. “Our new base in Ames, Iowa, will allow us to leverage the local scientific community’s strengths and drive the development of new, effective solutions that meet the needs of the global livestock market.”

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

KūHana Accelerator Supports Hawaiian-owned Businesses

The KūHana Accelerator is helping Hawai’ian-owned businesses in early to mid-stages of development.

The accelerator provides an intensive 8 week business plan development class set to equip entrepreneurs with the tools and technical assistance needed for success. This covers everything from business planning to market research and financial projections.

“Our goal at KūHana is to empower local and Hawai’ian-owned businesses by providing them with a solid foundation in business planning. We’re committed to helping these entrepreneurs develop clear, actionable plans that not only attract funding but also set them on a path to long-term success,” says Max Mukai, Program Manager of KūHana.

Local businesses interested in the accelerator can reach out to KūHana at the 2024 Native Hawai’ian Convention.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

FORGE Secures New Funding from Connecticut’s MIF fund

FORGE, a nonprofit that connects hardtech startups with product development, manufacturing, and supply chain education and resources, today announced it has received new funding from the Connecticut Department of Economic and Community Development’s Manufacturing Innovation Fund (MIF).

The nonprofit is focused on bringing hardtech startups from prototype to commercialization at scale. They achieve this by providing the tools and advice needed by any startup. The new funding will bridge a critical gap for startups with physical products through non-dilutive product development grants in the range of $30,000 to $100,000, as well as continuing to offer manufacturing readiness education and facilitating right-fit connections to local manufacturers. FORGE aims to use these offerings to drive innovation, create new opportunities to engage with innovation for Connecticut suppliers, and increase advanced product development in the state.

Those interested can submit an application for FORGE’s first $30,000 grant. This grant will be awarded mid November at the CT Innovation Nights event in Stamford, CT. The application deadline is October 4, 2024.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Woodland Biofuels Plans Biofuel Facility in Louisiana

Woodland Biofuels, Inc., a Toronto startup, has announced plans for a new facility in Louisiana that will burn wood and garbage to produce a renewable biofuel.

The company anticipates a $1.35 billion investment at the Port of South Louisiana in St. John the Baptist Parish. The end goal is one of the world’s largest biofuel production facilities which will burn waste biomass to produce natural gas and hydrogen.

If the project moves forward as outlined in a Louisiana Economic Development (LED) news release, the company expects to create 110 direct new jobs with an average annual salary of more than $90,000.

According to LED’s news release, Woodland Biofuels plans to capture the carbon dioxide and sequester it underground at a storage site to be determined at a later date.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.