TensorWave Secures $43M SAFE Funding

software

Nevada-based TensorWave has secured $43 million in a SAFE funding round – or a “Simple Agreement for Future Equity”. Startups use SAFEs to receive funding without determining a valuation or issuing equity immediately.

The cutting-edge cloud platform and AI startup has been fighting to break NVIDIA’s control over the AI industry by building alternative solutions that rival both performance and price. The SAFE funding will enable TensorWave to increase its data center capacity by deploying thousands of AMD Instinct MI300X GPUs. The company will also expand its team and develop its new inference platform.

TensorWave aims to meet the increasing demands in the global AI market, projected to soar from $196.63 billion in 2023 to $1.81 trillion by 2030. With their cloud service, TensorWave provides essential infrastructure for future AI applications.

TensorWave CEO Darrick Horton noted the importance of this funding for scaling operations, stating, “This funding allows us to significantly scale our team and deploy thousands of AMD Instinct AI accelerators to empower the startups and enterprises shaping our technological future.”

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.

Laborie Medical Technologies takes the lead in diagnosing GERD with alpHaONE System

doctor-840127_1920

GERD, or gastroesophageal reflux disease, affects millions of people worldwide. Its diagnosis can be difficult, as current methods include invasive endoscopic exams and X-rays. But Laborie Medical Technologies is changing the game with their alpHaONE system—a wireless device that can be implanted in the esophagus and collect data for up to four days.

The alpHaONE system works by placing a small sensor capsule on the esophageal wall, a short distance from the stomach, and recording changes in pH levels over time. This data is then transmitted to a handheld device that logs the information and allows the user to document their meals, time spent lying down, and feelings of heartburn, coughs, or deep belches.

One of the standout features of the alpHaONE system is its ease of use. Patients can carry the handheld device with them wherever they go, making it easy to track their symptoms and lifestyle habits. Laborie also offers a virtual instruction program to help patients better understand how to use the device and interpret the data.

The New Hampshire-based company estimates that about 1 in 5 people in the U.S. may suffer from GERD. With the alpHaONE system, these patients can now receive a more accurate diagnosis and better manage their condition.

Laborie is a global medical technology company specializing in Gastroenterology, Urology & Urogynecology, and Obstetrics, Gynecology & Neonatal. Through the development and manufacture of high quality, high impact diagnostic and therapeutic products, Laborie consistently contributes to the improvement of patient outcomes.

The alpHaONE system is just one example of the many exciting developments happening in the world of medical research and development. As technology continues to advance, we can expect to see even more innovative solutions that will improve patient care and outcomes. 

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.

Gener8tor has Opened Applications for their 2022 Reno-Tahoe Accelerator

files-1614223_1920

Gener8tor has announced the opening of their Reno-Tahoe Accelerator Program for 2022. Companies can apply to the investment-for-equity accelerator for a12-week in-person experience. In addition to the benefits of the in-person mentorship program, each startup will receive a cash investment of $100,000 and access to Gener8tor’s global network of mentors and investors.

The cohort will accept 5 high-growth startups from applicants. Since the program is both industry and business-model agnostic, all startups are welcomed to apply so long as they do so before July 10, 2022.

The benefits of the program will include:

  • Twelve weeks of in person individualized coaching and mentorship from the gener8tor team during bi-weekly, one-on-one meetings.
  • Introductions to 100+ mentors including serial entrepreneurs, industry experts and investors.
  • Weekly cohort programming featuring topics including understanding market size, choosing a revenue model, and how to pitch investors. 
  • $100K of guaranteed funding. $20K in exchange for 6% common stock equity plus $80K of guaranteed follow-on capital into your current round (if raising) or via uncapped convertible bridge note to be converted into your next round (if not currently raising).
  • Opportunity to build relationships within the cohort of five companies, and the community of gener8tor alumni.
  • $1M + in deals and perks from vendors like IBM Cloud, Rackspace, Amazon, PayPal, Zendesk, Hubspot and Microsoft.
  • Curated pitches to our network of investors to help you raise follow-on capital.

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.

EPA to Award $9M from their STAR Program to 7 Universities

laboratory-563423_1920

The EPA will award $1.26 million in funding to Natalia Soares Quinete – an assistant professor in chemistry at FIU – from their $9 million STAR Program. This program aims to support innovation and scientific research focused on advancing the EPA’s mission to protect human health and the environment. $9 million will be awarded across seven universities to research exposure to toxic chemicals via soil and dust ingestion. 

Six universities will collaborate with FIU to work on this project, including Emory University in Atlanta, Ga., Johns Hopkins University in Baltimore, Md., New York University, North Carolina Agricultural and Technical State University in Greensboro, University of California Davis, and University of Nevada-Reno.

This collaboration will use this grant to identify specific tracers of dust and soil exposure combined with the relevant environmental information in an effort to estimate soil and dust ingestion rates in children. It may be surprising to learn how toxic these ingestion rates may really be. Young children are especially vulnerable to this exposure method as they often play on the ground and put their hands in their mouths after touching random objects or dirt.

Toxic chemicals are deposited in soil and dust as they are carried through by water and left behind. At present, there is no way to accurately estimate chemical exposure by soil and dust ingestion. Identifying chemical tracers through analytical methodologies will help develop this method. This can then help understand the impacts on underrepresented groups of children.

Are you developing new software 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.

Rhodium Scientific to Join Forces with Sierra Space Corp

Rhodium Scientific to Join Forces with Sierra Space Corp

Rhodium Scientific provides support services to life science companies and those academic researchers that are focused on advancing discoveries. They have pioneered many innovative projects focused on space microgravity science missions and have developed logistics services to support them. They have recently announced their new partnership with Sierra Space Corp. 

Sierra Space Corp. is a new subsidiary of Sierra Nevada Corporation focused on redefining space exploration. They have developed the LIFE Habitat (Large Integrated Flexible Environment) which can offer flexible launch options, provide power needed to support long-duration human habitation, and meets NASA micrometeoroid impact requirements. They believe it will offer applications in low-Earth orbit, Mars transport and even Lunar and Mars surface habitation. 

Rhodium Scientific will test the viability of science operations onboard the LIFE Habitat in conditions similar to the future CRS-2 mission. Rhodium Scientific will use their experience in science payload development and management using industry-level quality assurance to ensure Sierra Space’s developments will have the best operational capabilities and scientific operations. 

“Rhodium Scientific shares a vision with Sierra Space for the new space economy and is very pleased to enter into this new agreement and explore the business and scientific opportunities that lie ahead with our leading-edge research and the LIFE habitat,” said Olivia Gamez Holzhaus, CEO and Founder of Rhodium Scientific. “As an innovator in the commercial space biotech industry, we see great promise for a wide range of research in-space and in partnership with Sierra Space.”

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.

Loon’s Balloon: Sky High Internet Source

puerto rico internet

Internet: it’s something most of us use everyday. And when there are outages we feel lost because we rely on it for almost everything. Even though the World Wide Web was only invented in the 1990s, it’s become so entrenched in our day-to-day lives. But there are still some rural areas that don’t have any access for various reasons, one being it’s too expensive. The internet can be sourced from different places, including radio towers, cell providers, satellites, and modems, which are all very expensive equipment and services. But there are companies working to provide innovative ways to reduce these costs, to ensure even remote and isolated areas can access this valuable resource. 

Loon is one such company, who has developed a novel approach to solving this problem.. Their method: a high altitude balloon about 11 to 16 miles high to quite literally create a floating internet tower. The balloons are made of lightweight polythene and are filled with helium. Radio hot-spots and LTE networking equipment powered by solar panels are attached to each balloon which will float in the stratosphere for around six months before landing and being collected by Loon. The balloons are also capable of navigating the sky through instruction and by analyzing data collected about air currents and altitude to either maintain or change its current location. The balloons have now flown nearly 24 million miles, with one balloon providing internet to 35,000 people over 31,000 square miles.

Are you developing new technology or an innovative approach to solve a problem? 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.

First American Autonomous Bus Project Starts in Nevada

Proterra autonomous bus

Proterra has begun America’s first autonomous bus test project in Nevada, one of the leading states in autonomous driving legislation. In partnership with the University of Nevada and its Living Lab Coalition, Proterra will develop and test the zero-emission vehicles in downtown Reno.

Unlike other programs, the project aims to develop a system for real world driving conditions. It will need to deal with difficult situations, including emergency response, varied road conditions and dense traffic. Implementing the project will be complex due to strict laws, which will differ from private autonomous vehicles.

The Living Lab program has three development stages; data collection, algorithm development and licensing and commercialization. First, the battery-powered bus will be driven by a human and will pick up data about the different city routes using sensors. Using this data, engineers will try different algorithms to see how they would perform autonomously, looking for ways to improve safety and predict traffic flow. The algorithms will aim to solve issues of vehicle perception, navigation control and path planning. The university will also focus on vehicle-to-vehicle and vehicle-to-infrastructure research. The end goal is to allow one of the programs to steer, under the watchful eye of a human supervisor.

Ryan Popple, CEO of Proterra believes that autonomous buses will become a common part of daily life and that they will be free to the public, with governments covering the costs with their budgets.

“As more and more communities take steps to integrate autonomous vehicles, we will continue to advance mobility solutions that best meet those evolving needs while embracing the highest safety standards on the market,” said Popple. New York, California and Arizona are also accepting applications for autonomous vehicle testing. While battery-powered transit vehicles represent just 1% of the market, Popple has claimed that electric buses are currently cheaper than diesel and CNG and could rule the transit bus market within the next decade.

Automated and battery-powered vehicles are disrupting the transportation industry. Projects like this have an exciting future but there is still much development to be done. Companies who are helping to solve issues in this space can benefit from the R&D tax credit. Contact Swanson Reed R&D tax specialists to see if your activities qualify.

How Does Your State Rank on the Innovation Scale?

business 561388 960 720

Innovation Is Key

Innovation is crucial to sustainable economic growth, but for innovation to occur businesses must have both the incentive and the capacity to invest.

As innovation is key to the United States’ economy as a whole, many U.S. states are showing off while others are falling short when it comes to patents, R&D, venture capital and academics.

So which states are excelling in innovation and which ones are lacking, you ask?

Patents

The top states in patents per population include:

  1. Wisconsin
  2. Washington
  3. Texas
  4. Utah
  5. California
  6. Massachusetts

The bottom five patented states include:

  1. Alaska
  2. Mississippi
  3. Tennessee
  4. West Virginia
  5. Wyoming

Venture Capital

The top states for venture capital are:

  1. Massachusetts
  2. California
  3. Utah
  4. Washington
  5. Colorado

The lowest are:

  1. Arkansas
  2. Alaska
  3. Hawaii
  4. Wyoming
  5. Iowa
  6. South Dakota

R&D Spending

The leaders in R&D spending are:

  1. Delaware
  2. Michigan
  3. California
  4. Connecticut
  5. Massachusetts

The states that spent the least on R&D include:

  1. Arkansas
  2. Wyoming
  3. Louisiana
  4. Alaska
  5. Mississippi

Academics

As for academics, the top states include:

  1. New Mexico
  2. Maryland
  3. Rhode Island
  4. Massachusetts
  5. Alabama

The lowest academic rankings were for:

  1. Louisiana
  2. Arkansas
  3. Delaware
  4. Wyoming
  5. Nevada

If you are a U.S. based company conducting R&D you may be eligible for the federal and/or state research tax credit. Please contact a Swanson Reed representative to find out further information.