Eat Just Secures $200M in Funding to Advance their Food Tech Alternatives

Heliponix Receives SBIR Grant for At-Home greenhouse Technology

Eat Just – a plant and cell based alternative food tech company – just raised $200 million in their latest investment round. The investment was funded by the Qatar Investment Authority and will go towards advancing their development of these food products.

The R&D and manufacturing center in Minnesota is responsible for the creation of their product, Just Egg – a plant based egg alternative. They have sold the equivalence of 100 million chicken eggs with this mung bean-based egg alternative. This egg alternative is already in many U.S. restaurants including Peet’s Coffee and Saxby’s, and is set to expand in many more thanks to a partnership with Michael Foods. They have also just received approval for their cell-based chicken in Singapore. The latest funding will help to further these research developments and bring plant and cell-based products to a larger audience.

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.

Health Care Startup Expects Business Boom in 2021

Health Care Startup Expects Business Boom in 2021

Due to the Pandemic, health care startup, Bind Benefits Inc. experienced their biggest cash influx in 2020 and now that we see vaccinations beginning to be administered around the world, they’re expecting another increase. Bind helps individuals find affordable health insurance that accommodates their needs in an Uber-like manner. They sell on-demand, personalized health insurance that offers their customers flexibility and control. 

With their Uber-like appearance, they offer easy accessibility while helping people navigate their health-care costs in a straightforward way. All prices are listed as is on the MyBind app, so there’s no hidden costs or fine print to read, so the consumer really is in control of their own health coverage, not doctors or insurance companies. Now with Covid slowly winding down and we see vaccinations being rolled out around the world, Bind expects investors to recognize the use of on-demand healthcare after the pandemic. 

Are you developing new software? 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.

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

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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.

Top States for Doing Business 2016

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How does your state rank for doing business? CNBC ranked all 50 states for business using a range of publicly available data.  They used a points-based system for each of the 10 categories of competitiveness.

Here are the results:

Workforce

Rating based on education level of the workforce, the numbers of available employees, and the states’ demonstrated abilities to retain college-educated workers.

Top 5

  1. Colorado
  2. Massachusetts
  3. Virginia
  4. North Dakota
  5. Arizona

Bottom 5

  1. Maine
  2. Missouri
  3. Hawaii
  4. Vermont
  5. Kentucky

Cost of Doing Business

Rating based on the competitiveness of each state’s tax climate, as well as state-sponsored incentives that can lower the cost of doing business. Utility costs can add up to a huge expense for business, and they vary widely by state. Also considered was the cost of wages, as well as rental costs for office and industrial space.

Top 5

  1. Indiana
  2. Iowa
  3. Mississippi
  4. South Dakota
  5. Kentucky

Bottom 5

  1. Hawaii
  2. California
  3. Maryland
  4. Connecticut
  5. Massachusetts

Infrastructure

Rating based on the vitality of each state’s transportation system by the value of goods shipped by air, waterways, roads and rail. The availability of air travel in each state, the quality of the roads and bridges, and the time it takes to commute to work was taken into account, as was the condition of each state’s drinking water and wastewater systems.

Top 5

  1. Indiana
  2. Tennessee/Texas
  3. Tennessee/Texas
  4. Georgia
  5. Minnesota

Bottom 5

  1. Rhode Island
  2. New Hampshire
  3. Maine
  4. Connecticut
  5. Hawaii

Economy

Rating based on economic growth, job creation, consumer spending, and the health of the residential real estate market. Each state’s fiscal health was measured by looking at its credit ratings and outlook, as well as its overall budget picture. Also considered was the number of major corporations headquartered in each state.

Top 5

  1. Texas
  2. Colorado
  3. Utah
  4. Florida
  5. Oregon

Bottom 5

  1. Mississippi
  2. Maine
  3. Alabama
  4. West Virginia
  5. Louisiana

Quality of Life

Rating based on livability, including several factors, such as the crime rate; inclusiveness, such as antidiscrimination protections; the quality of health care; the level of health insurance coverage and the overall health of the population. Also evaluated were local attractions, parks and recreation, as well as environmental quality.

Top 5

  1. Hawaii
  2. Minnesota
  3. Vermont
  4. New Hampshire
  5. Maine

Bottom 5

  1. Arkansas
  2. Missouri
  3. Oklahoma
  4. Louisiana
  5. Tennessee

Technology and Innovation

Rating based on support for innovation, the number of patents issued to their residents and the record of high-tech business formation. Also considered were federal health, science and agricultural research grants to the states.

Top 5

  1. Washington
  2. California
  3. Massachusetts
  4. New York
  5. Maryland

Bottom 5

  1. Mississippi
  2. West Virginia
  3. Wyoming
  4. Arkansas
  5. Louisiana

Education

Rating based on the number of higher-education institutions in each state, as well as long-term funding trends for higher education. Also evaluated were several measures of K–12 education, including test scores, class size and spending, as well as digital and lifelong learning opportunities in each state.

Top 5

  1. Massachusetts
  2. Minnesota
  3. Wyoming
  4. Illinois
  5. Virginia

Bottom 5

  1. Nevada
  2. Idaho
  3. Mississippi
  4. Arizona
  5. Alabama

Business Friendliness

Rating based on the freedom each state’s legal and regulatory frameworks provide for business.

Top 5

  1. New Hampshire
  2. South Dakota
  3. Virginia
  4. North Dakota
  5. Idaho

Bottom 5

  1. California
  2. West Virginia
  3. Illinois
  4. Mississippi
  5. Hawaii

Cost of Living

Rating based on cost of housing, food and energy.

Top 5

  1. Mississippi
  2. Kentucky
  3. Arkansas
  4. Alabama
  5. Tennessee

Bottom 5

  1. Hawaii
  2. New York
  3. Delaware
  4. California
  5. Connecticut

Access to Capital

Rating based on venture capital investments by state, as well as small-business lending on a relative basis.

Top 5

  1. Illinois
  2. North Carolina
  3. California
  4. Michigan
  5. New Jersey

Bottom 5

  1. Wyoming
  2. Vermont
  3. West Virginia
  4. Delaware
  5. New Mexico

Many US businesses can take advantage of the state and/or federal R&D tax credit. Please contact a Swanson Reed representative to find out what is available in your state and whether your business qualifies.

Minnesota Researchers Develop Groundbreaking Process

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A groundbreaking one-step, crystal growth process for making ultra-thin layers of material with molecular-sized pores, has been developed by a team of researchers at the University of Minnesota. Researchers demonstrated the use of the material, called zeolite nano-sheets, by making ultra-selective membranes for chemical separations.

This new discovery could  improve the energy-efficiency of chemical separation methods used to make everything from fuels to chemicals and pharmaceuticals.

“Overall, we’ve developed a process for zeolite nano-sheet crystal growth that is faster, simpler, and yields better quality nano-sheets than ever before,” said Michael Tsapatsis, the lead researcher on the study. “Our discovery is another step towards improved energy efficiency in the chemical and petrochemical industries.”

Today, most chemical and petrochemical purification processes are based on heat-driven processes like distillation. These processes are very energy-intensive. For example, chemical separations based on distillation represent nearly 5 percent of the total energy consumption in the United States.

Several companies and researchers are developing more energy-efficient separations based on membranes that can separate molecules based on size and shape. One class of these membranes is based on zeolites, which are silicate crystals that have pores of molecular dimensions. However, the multi-step processes for manufacturing these membranes are costly and difficult to scale up, and commercial production remains a challenge.

The researchers at the University of Minnesota have developed the first-ever, bottom-up process for direct growth of zeolite nano-sheets, which can be used to make high quality molecular sieve membranes. The new material, is only about five nano-meters in thickness, and several micrometers wide. The new nano-sheets also grow in a uniform shape making it much easier to make the membranes used in chemical purification.

Mi Young Jeon, the first author of the study describes the new material as being like tiling a floor with large, uniform tiles compared to small, irregular chips of tile. Jeon explains that uniform-shaped zeolite nano-sheets also make a much higher-quality membrane with surprisingly high separation values that can sieve-out impurities.

The research findings are a big step forward and researchers are looking forward to the future changes the discoveries will make to energy efficiency in chemical and petrochemical industries.

To find out more about R&D or to determine whether you may be eligible for an R&D Tax Credit  Contact a Swanson Reed specialist to see if you qualify.

R&D creates a new form of boating docks…

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Forest Lake-based R&D Manufacturing Inc. has made a name for itself in Minnesota and Wisconsin for its easy-to-install, lightweight V-Dock boating docks and accessories. R&D manufacturing sells an average of three miles of decking per year, the equivalent of 15,840 feet. Docks made by the company, which employs only six people, range from 32 to 300 feet.

The company’s Roll-in and Roll-n-Float portable docks allow consumers to roll docks into the water ‘as is,’ with no further assembly other than connecting the self-locking pieces together using a steel pins. If water levels rise or fall, the dock can be raised or lowered by using a cordless drill or a handle provided by R&D Manufacturing.

Most docks on the market require owners to remove decking tiles before rolling it into or out of the water. Simplifying the installation process has led to R&D Manufacturing’s growing popularity.

Three years ago, the company ramped up its online marketing and expanded its consumer base by shipping its portable docks to other destinations in the U.S. Some of their most recent shipments went to Texas and Alaska. The move has resulted in two consecutive record years for the company.

In 2016, the company saw sales growth of 35 percent, marking the company’s most profitable year, said co-owner Rick Johnson. All docks are sold and shipped directly to customers.

The company was founded in 1982 by Johnson’s father, Dick Johnson, who wanted to create a more sturdy and easy-to-install boating dock for Minnesotans. A trained welder, Johnson created his own brand of docks using V-shaped beams located under the dock for better support and to better absorb impact and movement. Johnson designed his own tools and machinery to make the docks and in 1982 started R&D Manufacturing. The company has since produced five patented designs.

“The customers we get are not first-time home buyers,” Johnson said. “The kids are out of the house. They need a simple way of installing the dock. They don’t want to go in the water to put posts in. They want to put it in and out.”

To find out more about R&D or to determine whether you may be eligible for an R&D Tax Credit  Contact a Swanson Reed specialist to see if you qualify.

Could human gene therapy be the next cancer cure?

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Perry Hackett, a researcher at the University of Minnesota, had a significant breakthrough in using DNA to fight cancer. Hackett received significant research and development funding due to his form of cancer treatment using viruses like no other treatments do.

Hackett has invented the Sleeping Beauty Transposon system, which is a basis for many cancer-fighting immunotherapies. Transposons are DNA that are not uniform throughout an organism, a concept which is easily seen throughout Indian corn, where the kernels are multicolored because a DNA element is hopping around the corn genome. It is named Sleeping Beauty because it was a gene that was active 13 million years ago, however went extinct.

Hackett began his research journey almost 40 years ago when he first started genetically engineering larger fish, however now his more recent work can reprogram a person’s immune system to fight cancer. Hackett explains that an immune system has memory, and it can target specific things that are bad for your body by targeting virus-infected cells. His breakthrough was introducing a gene into a cell that will recognize such foreign cells in the body.

Hackett’s virus differs from others in that traditional viruses are expensive to make and take a long time, however, the Sleeping Beauty Transposon is simple enough for an undergraduate student to make.

Hackett calls his research, “One of the grandest Minnesota fishing stories ever,” as initially he was working to find a way to improve the lives of fishermen by genetically engineering fish and eventually this research lead him to immunotherapy and finding a cutting-edge tool to treat cancer.

In addition to treating cancer, Hackett’s research has also lead to further understanding into how cancer progresses and how to correct genetic diseases that people inherit. In the future, therapies based on Hackett’s Transposon system could eliminate  or correct the symptoms of inherited diseases.

The university will continue working on this research, as a cancer treatment like this can provide 80% of people who use it with complete recovery or remission of cancer.

As a result of R&D grants, such as the one Perry Hackett received, innovative thinking and research can be rewarded, continue to progress and ultimately save millions of lives.

If your company is undertaking certain R&D activities, you may be eligible to claim the state and federal R&D tax credit, which can then be reinvested into the business. To find out whether your business qualifies, contact Swanson Reed R&D Tax Advisers.