Industry – Page 50 – Swanson Reed | Specialist R&D Tax Advisors

Beyond Main Startup Helps You Shop Locally Online

We all know how important it is to shop local. But in times like these, when we are being told to stay home to save lives, that’s hard to do. That’s when technology steps in to help.

Beyond Main has developed an innovative online marketplace where you can access all your local suppliers. Recognizing the financial and social impact online shopping has (especially in a year like 2020) Beyond Main aims to reframe how individuals shop online and help small, local businesses stay not only viable, but become competitive in the retail marketplace.

Beyond Main provides a simple and efficient online content management system for businesses, not to mention the startup doesn’t charge commission. This management system doesn’t require any coding, making it fast and easy for businesses to create an e-commerce site in only 24-hours. Through Beyond Main, users can shop from main street stores using their own phones. Customers on the platform use only one cart, so they can see all of their purchases in one spot, instead of having different carts for different stores. Already partnered with three towns in New Jersey, Beyond Main seeks to expand throughout the state.

By providing their users with the ability to shop locally, Beyond Main’s platform helps consumers know where their money is going, what impact it’s having, and that their purchase is coming from a trusted source. Both consumers and businesses can feel good about online shopping through Beyond Main.

Are you adapting your business in response to Covid? Did you know your R&D experiments could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? 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 CPA’s. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Fylamynt Cloud Automation Platform Launch

Cloud automation platform, Fylamynt, announced its launch on December 2nd, with $6.5 million in seed funding. With little to no code, the platform provides cloud secure capabilities for building, running, and analyzing automation workflows. Rather than attempting to replace similar platforms in this competitive field, Fylamynt is instead providing integration for numerous cloud platforms and code all in one space. The funding comes from Gradient Ventures, Mango Capital, and Point72 Ventures, among others.

With experience in web-scale and shipping infrastructures for both private and public cloud, and helping companies manage their cloud operations, cofounders, Dr. Pradeep Padala, Dr. Xiaoyun Zhu, and David Lee started Fylamynt in 2019. They wanted to resolve issues surrounding high operations costs due to application downtime and failures. These technical issues can cause enterprises up to $2.5 billion per year, or up to $1 million per hour. Fylamynt augments workflows with AI, which enables the connection of any code, including integrating code from Terraform and Ansible (two commonly used code software tools) with any infrastructure service through site reliability engineering (SRE). This means that you can connect and use codes and tools from multiple cloud services. For example, if you’re using a script from one platform and a template from another, Fylamynt integrates and connects them to create a fast and efficient infrastructure workflow build. Fylamynt also works on the top three cloud providers: Amazon Web Services, Google Cloud, and Microsoft Azure.

Are you developing new tech? Did you know your R&D experiments could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? 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 CPA’s. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Minnesota Food Industry Giants Join To Address Food Insecurity and Climate Change

forefront of bioscience automated farming equipment

Fourteen Minnesota-based organizations have joined to create MBOLD, a coalition for food and agriculture. The companies and research groups (including Target, General Mills and the University of Minnesota) will use their shared knowledge and global reach to address problems, particularly the changing climate and growing demand for food.

MBOLD will focus on various issues impacting the food and agriculture industries, such as:

Soil health and water stewardship: MBOLD is engaging farmers and ranchers to adopt new practices and support them through the risks, with the idea of building soil health and reducing emissions to tackle climate change and make the food system more resilient.

Recycling and reusing soft plastics: Flexible films are used throughout the food and agriculture sectors for food packaging, hay bales, pallet wrap and more, but only a fraction of it is recycled. MBOLD aims to develop a circular economy for flexible packaging films to cut waste and give these materials a second life.

Innovation and entrepreneurship, through capital access, development opportunities or mentorship.

Food insecurity in the time of the pandemic: MBOLD is using a data-driven approach to get ahead of food insecurity at the local level and spurring deeper public-private collaboration.

Together, the fourteen organizations sell food in more than 125 countries, and have expertise in many different fields. MBOLD will be housed at the Greater MSP office in St. Paul.

Are you developing new products, processes or inventions? Did you know your R&D experiments could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? 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.’s largest Specialist R&D tax advisory firms, offering tax credibility assessments, claim preparation, and advisory services. 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 and CFPs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Authentication Software Wins CyberSecurity Breakthrough Award

LastPass MFA, a password management and authentication software for employee logins, has won this years’ “Multifactor Solution of the Year” award in the fourth annual CyberSecurity Breakthrough Awards program. The software goes beyond standard two-factor authentication, using biometric and contextual factors to better protect businesses, perfect for the working-from-home economy.

The awards honor excellence and recognize the innovation, hard work and success in a range of information security categories, including Cloud Security, Threat Detection, Risk Management, Fraud Prevention, Mobile Security, and Email Security. CyberSecurity Breakthrough managing director James Johnson told GlobeNewswire, “There is a sensitive balance in play in today’s business environment, wherein a company’s remote workforce requires IT to ensure employees have access to the resources they need, but must maintain security throughout the business with no borders. LastPass MFA addresses this complexity, breaking through among other MFA providers with its ability to leverage biometric and contextual factors, while offering a passwordless, simple, and secure login experience.”

LastPass MFA

The software utilizes biometric factors (like fingerprint and facial recognition) as well as contextual factors (such as IP address and geolocation). Coupled with two-factor authentication, these allow employees to easily log in to necessary software, on computers or mobile devices. It’s deployable across cloud, legacy or on-premise apps, and VPNs, to integrate seamlessly with the business’ other tools or other password management software. Security is the main focus; password data is encrypted and decrypted at the device level, kept secret even from LastPass.

Boston-based software company LogMeIn developed LastPass MFA, with the aim of unlocking the potential of the modern workforce. The company is a pioneer in remote work technology and a driving force behind today’s work-from-anywhere movement, and one of the world’s largest SaaS companies with tens of millions of active users.

Are you developing new software, products or inventions? Did you know your R&D experiments could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? 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.’s largest Specialist R&D tax advisory firms, offering tax credibility assessments, claim preparation, and advisory services. 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 and CFPs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Maine Offshore Wind Farm Project Receives $2M Grant

Maine’s taking its clean energy to its coast; the state’s Energy Office received a $2.166 million grant for its offshore wind roadmap, from the Department’s Economic Development Administration (EDA). The project will create a roadmap for establishing a floating offshore wind power industry. The Energy Office’s intention is to examine manufacturing processes, supply chains, port facilities, transportation systems, shipbuilding opportunities, ecosystem relationships, workforce development plans, power interconnections, exports and economic impacts.

Maine’s Offshore Wind Technology

In 2016, the U.S. Department of Energy (DOE) and Department of the Interior (DOI) released a National Offshore Wind Strategy document. It stated that 80% of the country’s electricity demands are from coastal states, and that the total U.S. offshore wind energy potential is more than twice the national usage. The Gulf of Maine’s wind quality is higher than most parts of the U.S. As such, a 2009 Ocean Energy Task Force report set goals, one of which was installing 5 GW (5,000 megawatts) of offshore wind energy by 2030.

The University of Maine (UMaine) has, over 10 years, developed patented VolturnUS floating concrete hull technology. It has potential to significantly reduce the cost of offshore wind and supports wind turbines in water 150+ feet deep (Maine’s waters are some of the deepest around the country, approximately 200 feet deep). In 2013, the university deployed a VolturnUS prototype one-eighth of regular size. It was the first grid-connected floating wind turbine system in the Americas, and data from this has fuelled the development of two full-scale floating offshore hulls for wind turbines.

The Aqua Ventus Project

In 2019, the Public Utilities Commission (PUC) signed a 20-year power purchase agreement for Maine Aqua Ventus. The project will deploy a turbine on VolturnUS, the floating concrete semi-submersible hull developed by UMaine, south of Monhegan Island. The state’s and UMaine’s goals are to demonstrate VolturnUS tech at full scale, to create jobs, provide clean energy at low cost, and pave the way for other floating wind farms.

Are you developing new software, products or inventions? Did you know your R&D experiments could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? 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.’s largest Specialist R&D tax advisory firms, offering tax credibility assessments, claim preparation, and advisory services. 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 and CFPs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Maryland Startup Announces Next-Gen Quantum Computer

Maryland-based quantum computing startup, IonQ, has announced its next-gen quantum computer. The device has a lower error rate than any other on the market due to the unique way it was built.

What is a Quantum Computer?

Simply put, a quantum computer is a machine that uses a quantum system to perform calculations that regular computers can’t. Classical computers (including smartphones and laptops) put information into binary “bits” – 0s and 1s. In a quantum computer, the basic unit of memory is a quantum bit (qubit). Qubits are made using physical systems, such as the spin of an electron or the orientation of a photon. These systems can be in many different arrangements all at once – quantum superposition. Qubits can also be inextricably linked together – quantum entanglement. The result is that a series of qubits can represent different things simultaneously.

For example, eight bits is enough for a traditional computer to represent any number between 0 and 255. But, eight qubits is enough for a quantum computer to represent every number between 0 and 255 at the same time. A few hundred entangled qubits would be enough to represent more numbers than there are atoms in the universe.

Applications

Quantum computers have an edge of traditional computers because of this ability to link and represent information simultaneously. That makes them extremely useful for things like artificial intelligence (AI), and cybersecurity and encryption.

However, because developers are working with new, intricate technology, the systems are not always stable. Quantum computers are highly sensitive: heat, electromagnetic fields (EMFs) and collisions with air molecules can cause a qubit to lose its quantum properties. This process, known as quantum decoherence, causes the system to crash, and it happens more quickly the more particles that are involved.

At present, classic computers outperform quantum computers, but that may change within the next decade. And, even then, they’re not likely to replace classical computers, but be used as a different tool; emails and spreadsheets will stay with computers we know now, and more advanced data work will be done on quantum computers.

IonQ’s Next Generation Computer

Quantum computer makers typically use ‘synthetic’ quantum systems for their quantum bits (qubits). For example, developers may use loops of supercooled superconducting wire, intentional imperfections in crystalline silicon, or other designs carefully coaxed to behave as quantum systems.Some companies (like IBM and Google) are experimenting with superconducting qubits to develop their quantum computers. Others (like D-wave) utilize annealer technology, which involves cooling qubits during an algorithm’s execution to change their value passively.

IonQ’s method is different. The company uses a naturally occurring quantum system: individual atoms. It uses a “flexible” Ion Trap Technology approach. This involves turning atoms into ions, and then using EMFs to deploy and trap the ions on silicon chips. It can then load any number of ions into a linear chain, meaning it can possibly use a 100+ qubit system without having to create new hardware.

However, errors are extremely common with quantum computers, because of decoherence and/or quantum noise (interference from EMFs, lasers, etc). If this happens, the computing from the qubits is interrupted. Some quantum computer makers believe that more qubits will mean better working technology, so they add as many as possible and use separate systems to deal with errors. IonQ, on the other hand, is trying to develop qubits that are less error prone. And this could entail reducing the number of qubits in the system. For instance, quantum computers by IBM and Google have about 50 qubits; IonQ’s system has only 32. And yet it also has a lower error rate to give the system 99.9 percent fidelity. In fact, IBM has devised a calculation for quantum volume, and IonQ’s system calculates at over four million, the highest known number.

IonQ says the computers should be commercially available soon.

Are you developing new software, products or inventions? Did you know your R&D experiments could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? 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.’s largest Specialist R&D tax advisory firms, offering tax credibility assessments, claim preparation, and advisory services. 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 and CFPs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Medical Appointment Booking Software Wins Big at Kansas City Pure Pitch Rally

Kansas-based software company SureShow was the top prize winner at the fifth annual Pure Pitch Rally. The startup develops software solutions that allow medical practices to take online bookings in the event of no-shows. It took home $20,500 + $5,000 Technology Blueprint Award from Artisan Technology Group.

SureShow’s application allows online patients to be put in a queue, so when a clinic has a last minute cancellation, the physician can perform a virtual consultation (via computer or mobile app). With 25% of appointments resulting in a no-show, this system helps practices meet their full earning potential, and gives patients more access to the care they need. It integrates with clinics’ existing software, and is HIPAA compliant.

The company was one of eight tech startups that was invited to pitch and compete for funding at the Pure Pitch Rally, this year with a livestream audience. Each entrepreneur presented their ideas/company to ‘land sharks’, aka 88 CEOs and VIPs in the tech industry.

As well as SureShow, the eight startups included:

PMI Rate Pro, a startup that provides fast quotes for private mortgage insurance, which won $24,000.
Relay Trade Solutions, a company that connects all supply chain stakeholders for faster ordering, shipping and process, which won $10,000.
AgButler, a gig economy platform that provides job solutions to farmers and agricultural businesses, which won $9,000 + $3,000 People’s Choice Award funded by Lockton.
Air Traffic Awareness, an application to improve situational awareness for in-flight safety, which won $5,000.
Booth Browser, a mobile application company that helps vendors manage inventory and streamline transactions, which won $5,000.
NORDEF (AWA Technology), which streamlines processes in the automotive fluid industry, which won $5,000.
Plasmonic Diagnostics, a medical technology startup making diagnosing diseases faster and easier, which won $5,000.

Are you developing new tech? Did you know your R&D experiments could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? 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 CPA’s. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Research Finds Electromagnetic Fields Could Be Used To Treat Diabetes Remotely

Researchers at the University of Iowa Health Care have discovered a new way to treat blood sugar non-invasively. The team found that exposure to static electric and magnetic fields normalized blood sugar and insulin resistance, meaning it may be possible to treat type 2 diabetes with electromagnetic fields (EMFs).

In the study, Calvin Carter, PhD, and Sunny Huang, an MD/PhD student, exposed mice to EMFs for a few hours per day. Their results indicated that EMFs alter the balance of oxidants and antioxidants in the liver, improving the body’s response to insulin. With lasting effects on blood sugar and insulin levels seen, the discovery opens up the possibility of treating type 2 diabetes even overnight, as opposed to the current cumbersome treatment regimes.

While the discovery is major, the study was almost accidental. Huang was practicing taking blood from mice and measuring blood sugar levels, and Carter offered mice he was using to study the effect of EMFs on the animals’ brain and behaviour. The mice, which had a genetic modification that made them diabetic (and therefore would have high blood sugar levels), had normal blood sugar levels upon testing. From this, the project began. The study found that static magnetic and electric fields modulated blood sugar, and exposure during sleep reversed insulin resistance within three days of treatment.

EMFs these days are used in anything from mobile devices to MRI and EEG machines. However, their impact on human biology is not fully understood. In researching the topic, Carter and Huang found that many animals (e.g. a number of species of birds) sense the Earth’s electromagnetic field and use it for navigation. This pointed to a quantum biological phenomenon whereby EMFs may interact with specific molecules in the body. Some of these molecules are oxidants, which are studied in redox biology, which looks at the behavior of electrons and reactive molecules that govern cellular metabolism. The team collaborated with redox biology experts to better understand an oxidant molecule called superoxide, which plays a role in type 2 diabetes. The experiments suggest that EMFs alter the signaling of superoxide molecules, specifically in the liver, which leads to the prolonged activation of an antioxidant response to rebalance the body’s redox set point and the response to insulin.

Because of the success from the mice trials, the team also treated human liver cells. After six hours of EMF treatment, the cells’ surrogate marker for insulin sensitivity improved significantly, suggesting that the EMFs may also produce the same anti-diabetic effect in humans. The study has now moved onto larger animals, with a goal of human trials, and providing this as a viable solution for people. Carter and Huang, along with Carter’s brother Walter, have founded Geminii Health, to develop wearable devices with this technology.

Are you developing a new treatment, product or process? Did you know your R&D experiments could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? 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 CPA’s. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Natural Disaster Planning Software Helping Homeowners Across the U.S.

On top of a global pandemic, millions of Americans have experienced wildfires, windstorms and hurricanes this year. Louisville-based tech startup WeatherCheck is making their lives easier, by building detailed models of natural disaster damage across the U.S. The company collects data from various sources (e.g. FEMA) and develops software models, to help individuals, mortgage lenders, corporations and insurers prepare for these natural disasters before they happen, and process claims much faster after damage occurs.

WeatherCheck’s team is made up of weather scientists, AI professors, climatologists, cloud computing engineers, and claims analysts. They’re the only company in the country providing the address-specific information owners require.

Before COVID-19 hit, WeatherCheck’s main offering was its subscription service. Customers would pay a fee, and can access damage reports for properties as well as a live monitoring tool for upcoming storms and/or hurricanes. But, as with many businesses, sales dropped when the public was told to shelter and stay home. So, the company shifted focus, developing a solution that allowed homeowners to file claims online.

In late August, a windstorm hit Iowa and more than 8,000 homes were damaged or destroyed, as COVID-19 case numbers rose in the state. WeatherCheck partnered with insurers to set aside $20 million in a recovery fund to help Iowans rebuild and also rolled out free access to its “Preferred” program, which helps users identify the best time to file a claim and get through the reconstruction process two times faster than they would by working directly with an insurance provider. Thanks to those efforts, homeowners affected by the storm were able to receive their recovery funds within 48 hours of filing a claim and start rebuilding immediately.

Are you developing new software, products or inventions? Did you know your R&D experiments could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? 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.’s largest Specialist R&D tax advisory firms, offering tax credibility assessments, claim preparation, and advisory services. 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 and CFPs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Indiana Patent of the Month – September 2020

Indiana-based Biomet Manufacturing (Zimmer Biomet) is combining biology and technology with its patient-matched surgical navigation systems. The company received a patent for its software program, which recreates a three-dimensional model of a patient’s anatomy from a scanned image. Using this model, the system then develops a surgical component in the optimal shape, specific to the patient’s body and needs.

Surgical navigation systems, also known as computer assisted surgery systems or image guided surgery systems, shows the real-time position of instruments and patient anatomical structures. They help surgeons to guide surgical instruments and implant medical devices. For example, surgical navigation systems are often used to measure the size and shape of a bone before creating a prosthetic implant.

Typically, it uses a computer, with patient imaging from MRI, CT fluoroscopy. With Zimmer Biomet’s invention, the pre-operation scan is uploaded to the software. The program develops the three-dimensional model, on which it can locate and identify anatomical landmarks on the patient’s anatomy. These anatomical landmarks are then analyzed, with specific surgical information (i.e. about the surgery about to take place) and the software develops a prototype design of a surgical component that would best fit within the patient. A surgeon approves this design, and sends it to be developed, to then be used in surgery.

To better plan, track and navigate surgical instruments, tools and devices, surgeons often use tracking arrays, or reference arrays. Because Zimmer Biomet’s surgical components are custom-made, they can be manufactured with a reference array on the surface, again specific to the patient’s anatomy. So, when this piece is used/implanted, it assists the surgeon on where other anatomical landmarks are. This makes the surgery process easier to navigate, and therefore quicker and safer.

Are you developing a new product or process? Did you know your R&D experiments 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.