Velocity Clinical Research Brings VitaLink and NRI Sites into their Realm

Virginia Patent of the Month - August 2021

Velocity Clinical Research has announced they will officially acquire two multi-site companies – VitaLink Research and National Research Institute (NRI) for an undisclosed amount. They believe this acquisition will enhance Velocity’s therapeutic reach and recruiting power. 

VitaLink, a South Carolina-based research company – has a network of 6 sites in the state. California-based NRI has 5 sites throughout the greater Los Angeles area. This dual acquisition adds a total of 11 new sites to Velocity’s existing 18, making it the largest fully integrated site management organization in the world. 

They intend to integrate management from both companies, filling key roles in Velocity and strengthening its senior management bench. North Carolina-based Velocity is the leading integrated site organization for clinical trials. This unique position allows them to help biopharmaceutical and contract research organization customers find the right patients for their studies. This integrated approach benefits both sponsors and study participants. 

As they expand their reach and site availability, Velocity is on track to advance the clinical trial field and speed up the testing and trialing of experimental pharmaceuticals. Each acquisition is based on careful vetting of the research site. They look for dedicated research clinics with experienced physician investigators and research staff. They are also interested in achieving a sufficient geographical dispersion across the country to ensure their access reaches minority populations and provides sufficient patient diversity. 

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.

Climavision Sees new R&D Facility in the Forecast

Mississippi Patent of the Month - June 2021

Climavision, Kentucky’s new weather-intelligence company, has announced they will be receiving a $100 million investment to open new R&D operations in North Carolina. The Rise Fund – a global impact investing platform – will help as Climavision strives to deliver technology and services that can help in the fight against climate change. Investments like this one aim at providing the technology needed to enable climate change solutions.

Climavision is a pioneering weather-intelligence company that is powered by a private network of high-resolution radars, GPS-RO data, and proprietary software. Their goal is to improve both timing and accuracy of weather forecasts as well as to fill gaps in weather surveillance. They were formed as a division of Enterprise Electronics Corp (EEC) – a massive supplier of weather radar systems. 

With this $100M funding, they intend to open a new R&D department in Raleigh, North Carolina. Raleigh was chosen as it has a large local tech talent and a great meteorology program at North Carolina State University. They hope to use this division to change the landscape of weather forecasting, as they bring together a weather radar and satellite network with new prediction modeling tools. As of now, the industry relies on existing government data – but you can only interpret and analyze that in so many ways. With Climavision applying its own proprietary data to this mix, it can provide a more accurate forecast.

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.

RAD Game Tools and Epic Games Unite to Work on the Unreal Engine

fortnite-4129124_1920

RAD Game Tools design video game development tools. Their designs have appeared in more than 24,600 games, and now Epic Games have taken them in. In a recent deal, Epic acquired the technology and business of RAD, working to integrate their products into Epic’s Unreal Engine. Unreal Engine is the world’s most open and advanced real-time 3D creation platform for photoreal visuals and immersive experiences in game development.

 Epic used RAD’s compression technology in their games, including Fortnite. The technology was so impressive that it inspired Epic to strike this deal with RAD. RAD has been developing innovative game tools and software since 1988 and the same team will continue their R&D from their offices in North Carolina. They will connect with Epics teams to work on rendering, animation, Insights, and audio projects to enhance the Unreal Engine even further. RAD’s connections with other companies throughout the game, film, and television industries will continue as normal with access to RAD’s previous proprietary technology.

Are you developing new technology? 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.

Social Auto Transport Drives Into Other Markets

Social Auto Transport Drives Into Other Markets

Operating in North Carolina, Social Auto Transport Inc. looks to expand into six new markets, starting with Philadelphia, Atlanta, and D.C. The startup secured $1.5 million in seed funding for the operation. Social Auto Transport co-founders, Nick Mottas and Rob Newton, developed the app for the company after working in the auto industry for some time and even working together. The startup serves customers including CarMax, Lyft, and CarLots, as well as other dealerships. 

The Social Auto Transport app allows companies to move their cars without a team of their own drivers. Social Transport Auto has a team of on-call professional drivers. Drivers are screened, background checked, and properly trained. And in lieu of the pandemic, all drivers have been trained for covid safety and are tested regularly. The process is simple, the client simply schedules a move, the driver will pick up the car and drop it off at the selected location, and the client can track the car the whole time.

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.

North Carolina Startup Creates Software to Bring Farmers into the Digital Age

With the constant technological change that shapes how people live and consume products, digital business management tools can help businesses adapt and stay ahead of the game. But what about companies who don’t typically use technology? We don’t often think of farmers and tech going hand-in-hand, but that’s where Growers comes in. The company identified a gap in the market – with a huge array of equipment available to farmers, but no centralized system to streamline communication between key parties, unify operations and maximize productivity

Being raised on a farm gave its founder, Steven Valencsin, a good insight into the business needs of farmers. From this knowledge, Growers developed a number of software solutions, namely Growers Agronomy™ and Growers Rally™: 

  • Agronomy helps farmers create plans using a forward approach, touching on 5 key aspects – creating crop plan, fertility program, planting program, modelling financial impact of those decisions and being able to make iterative changes in real time to the impact on your bottom line. 
  • Rally combines farm planning with customer relationship management (CRM). Growers designed the platform to meet the needs of agriculture retailers and farmers by enabling them to converse digitally and utilize other planning tools within the platform, such as creating sales plans. The software is expected to be released in the summer of 2021. 

Are you developing new software solutions? 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.

Reinforcement Learning ‘Tunes’ Robotics Prosthetics in Minutes

prosthetics

Researchers from Arizona State University, the University of North Carolina and North Carolina State University have discovered a new intelligent system that depends on reinforcement learning to tune powered robotic prosthetic knees.

This new development will allow patients to start walking comfortably using their prosthetic equipment in minutes, as opposed to the hours it would take if the gadget was to be manually tuned by a trained clinical practitioner. This invention is the 1st system to rely only on reinforcement learning to tune robotic prosthesis.

According to a statement by North Carolina State, the new tuning device tweaks 12 distinct control parameters to accommodate the specified patient while addressing prosthesis dynamics like joint stiffness through the whole gait cycle.

Usually, a human medical practitioner would work with the prosthesis’ user to adapt several parameters. This process takes hours to complete. The new invention, on the other hand, relies on a computer program that avails a type of machine learning called reinforcement learning to modify all 12 parameters instantaneously.

This permits the patient to use the powered prosthetic knee to walk on a level surface in less than 10 minutes.

“We begin by giving a patient a powered prosthetic knee with a randomly selected set of parameters,” said Helen Huang, a co-author of a paper on the work and a professor in the Joint Department Biomedical Engineering at UNC and NC State. “We then have the patient begin walking under controlled circumstances.”

“Data on the patient’s gait and the device are collected via a suite of sensors in the device,” she added. “A computer model adapts parameters on the device and compares the patient’s gait to the profile of a normal walking gait in real time.”

Even though all the work is currently executed in a controlled, medical setting, the goal of the researchers is to invent a wireless version of the system. This will permit the device to continue fine-tuning itself as the user tackles his or her daily activities and surrounding conditions.

 

Derek Bridges on Foter.com / CC BY

Yokohama Tire Corp. Opens R&D Center in Cornelius

yokohama tires

Yokohama Tire Corp. has opened its first North American research and development center on Bailey Rd in Cornelius N.C. Cornelius was chosen as the ideal location due to its skilled workforce and the short distance from the airport. County Commissioner Pat Cotham said that the development of the $5.85 million center by an international company was an “outstanding economic development achievement.”

The 25,000 sq. ft. facility intends to consolidate its activities from California, Michigan, Mississippi and Virginia into one place. The center includes state-of-the-art tire characteristic machines for testing purposes as well as tire labs, a garage and offices. 

While the hub will initially employ 25 staff, this number is set to more than double.  Jobs will include advanced technical and engineering positions. Yokohama has been running in the US since 1969 and want to expand into new markets including original equipment fitments. Other focus areas include designing tires for passenger cars, other consumer markets and industrial and construction machinery.

Thomas Kenny, Director of Consumer Tire Development, says that combining their R&D activities into one location will strengthen the company’s R&D structure and accelerate the development of new products.

Top States for Doing Business 2016

team 1317270 1280

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.

North Carolina R&D project receives $1.47m Grant

test 214185 960 720

SeaTox Research Inc. and the University of North Caroline Wilmington (UNCW) have collaborated in an R&D study to further develop toxin tests for seafood.

The study has now received a $1.47 million R&D grant, which will provide significant advancement in its ability to detect neurotoxins from harmful algal blooms that make people sick when they eat contaminated fish and shellfish.

The tests are designed to be used by research groups and regulatory agencies to monitor toxin content in fisheries to protect the public from the detrimental effects of neurotoxins.

SeaTox Research Inc. is a biotechnology company located in UNCW’s CREST Research Park. It is involved in assay development and pharmaceutical R&D utilizing materials, originating from the marine environment.

Assay development involves inventing and designing scientific tests, modifying the tests to optimize efficiency and then validating those tests with a large pool of data to determine effectiveness.

The university’s strategic plan includes innovation as one of its core values as this is a commitment to continuous improvement and breakthrough advances to ensure distinctiveness.

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.

New 3D printing R&D facility opening in North Carolina

printer 2189968 960 720

North Carolina may become the next 3D printing hub in the near future after Swiss company, Oerlikon, announced it will be opening a new R&D production facility for advanced 3D printed parts in Charlotte, NC.

The new facility will offer clients integrated, end-to-end services for advanced additive manufacturing. 3D printing offers manufacturers a number of advantages over traditional manufacturing processes, such as customization and efficiency in terms of materials, lead time, and cost.

Oerlikon, the globally recognized technology group, will be investing roughly CHF55 million (Approximately $55 million USD) into the new facility over the next two years and will create over 100 new jobs.

The company says additive manufacturing has been identified as a potential growth area, and is primed to leverage its strong materials heritage, service reputation, access to markets, and more.

With its new 3D printing R&D and production facility, Oerlikon is aiming to further establish itself as a global leader in surface solutions and advanced materials. The expansion of the company’s global additive manufacturing business can be owed to the simultaneously growing demand for advanced 3D printed metal parts in various industries.

The planned R&D facility in Charlotte will be an important step in Oerlikon’s plans to grow their additive manufacturing business and investment in key technology areas.

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.