Approximately 20 percent of Americans report some degree of hearing loss and over 6 million are profoundly deaf. Now, wearable sensors could one day depict the gestures in sign language and translate them into English, administrating a high-tech solution to communication difficulties between deaf people and those who don’t comprehend sign language.

Leading this study is engineers at the Texas A&M University, who are currently developing wearable sensors that can sense movement and muscle activity in a person’s arm. Although still in the prototype stage, the device can recognize around 40 ASL signs with 96 percent accuracy. The device operates by interpreting the gestures a person is creating by using two distinct sensors: one that responds to the motion of the wrist and the other to the muscular movements in the arm. A wireless program then  obtains this data and converts the information into the English translation.

The sensors are worn on the user’s wrist and the information collected is sent via Bluetooth to a laptop. Eventually, the goal is to abolish the need for the laptop by integrating a small computer directly to the device. The computer could then transfer the English words to another person’s phone, so they can read what their partner is saying. Roozbeh Jafari, the engineer who led the project, wants the final version to be small and attractive, with the end goal of making the entire system fit in a watch.

Undoubtedly, innovation such as this will make a huge difference in the lives of deaf people and how we interact with the world around us. Whether you’re creating communication devices for the deaf or researching agricultural prototypes, each company has unique levels of research and development utilized within their business. The government encourages businesses within the U.S. to do this by allowing business owners to offset research and development with R&D Tax Credits. Posing the question, could you be claiming cash back for research and development projects you’ve invested in? Innovation can create new opportunities for your business and allow for the creation of new products or solutions. Contact us today to see if you are eligible to claim the R&D Tax Relief.

In the past year, Texas has been ranked the number one state for future job growth and was listed in the top ten states for business. I tip my hat to you, Texas.

Although, this all means nothing if the incentives and benefits put in place by the state are being underutilized by businesses. It’s important to know why Texas ranks so highly and exactly what sets Texas apart from the rest. ( hint: it’s more than the food).

Texas Emerging Technology Fund

The Texas Emerging Technology Fund (TETF) was established to provide Texas with an unprecedented advantage in areas of research, development and commercialization of emerging technology. TETF is available in three areas:

1. Incentives for Commercialization Activities Awards: Funds to help companies take ideas from concept to development to ready for the marketplace.
2. Research Award Matching Awards: Funds create public-private partnerships which leverage the unique strengths of universities, federal government grant programs and industry.
3. Acquisition of Research Superiority Awards: Funds for Texas higher education institutions to recruit the best research talent in the world.

Regional Centers of Innovation and Commercialization

The Regional Centers of Innovation and Commercialization (RCICs) were created to support the activities for a specified region; research and development, commercialization of research and development, incubation and acceleration for business related to research and development, and workforce training for business related to research and development.

The Research and Development Tax Credit

On June 14, 2013, House Bill 800 was signed reinstating Texas R&D tax credits through 2026. Much of the work done on a federal R&D tax credit return applies to a Texas return, so you can essentially get two tax credits for one tax workup.

In order to achieve a benefit from R&D in Texas, the taxpayer makes one of two elections ; the franchise tax credit for R&D expenditures or the sales and use tax exemption on the purchase or lease of depreciable, tangible personal property used in qualified research in Texas.

Texas Enterprise Fund

The Texas Enterprise Fund is a cash grant used a financial incentive tool for projects that offer significant projected job creation and capital investment. The TEF has granted more than $500 million in grants since its creation in 2004.

If your company is interested in claiming the R&D Tax Credit  please contact one of our Swanson Reed specialists for more information.

 

Over the past few years, we have seen Austin become  one of the top places in the country for digital technology companies and the attraction to the city doesn’t seem to be ending anytime soon.

The 2014 Annual Report states that in 2014, investors funded 115 startups and bought 31 companies in Austin. The local tech companies raised $993 million in investment dollars and exits totaled $437 million.

After experiencing a 41.4% increase in tech-industry employment between 2001 and 2013, Austin was recently named the top city for technology job creation by Forbes. The Austin Technology Council, which integrates tech leaders into daily life in Austin, foresees nearly 12,000 more tech jobs to be added over the next five years.

With major companies like Dell and startup incubators such as Techstars headquartered in Austin, it is no mystery why Austin continues to flourish. According to their website, Techstars is “a global ecosystem that empowers entrepreneurs to bring new technologies to market wherever they choose to build their business.” Techstars provides funding and mentorship to startup companies around the world.

Due to the lively tech community that has settled in Austin and the networking resources available, entrepreneurs are able to easily collaborate and connect with one another as well as potential investors.

Texas also offers $19 billion per year in incentives for things like job creation, relocating business to Texas and R&D performed in Texas. The R&D tax credit for qualified research and development that is conducted within the state, provides  up to a 6.125% credit rate. The Texas R&D tax credit adopts the guidelines of the federal R&D tax credit, meaning one can essentially receive two credits for one tax workup. Unlike the federal credit, the Texas credit is valid until 2026.

If your company is conducting R&D within the United States and would like more information on claiming the credit, please contact a Swanson Reed specialist.