COVID-19 Crisis is Fuelling Innovation

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The COVID-19 crisis is highlighting how it can fuel innovation and collaboration across different sectors all over the world to address the pressing needs that we are all facing. Here are a few examples of community-led innovation inspired by this crisis:

Virtual-Friendly Curriculum 

  • One of the biggest challenges recognised by institutions was the quick transition to a virtual-friendly curriculum. myTrailhead, a free learning experience platform designed by Saleforce.org, is empowering health care organisations to quickly distribute the latest safety and testing protocols to train staff and ensure they are certified

Tracking Health Care Needs in Real Time 

  • An App developed by Traction on Demand and Thrive Health that allows users to view, track and allocate critical health care personnel, personal protective equipment and ventilator availability in real-time. The app is hoping to allow users to better understand the impact of the COVID-19 virus at the hyper-local level

These examples evince how communities worldwide are collaborating and innovating during times of crisis to leverage the power of technology to have a lasting impact on the world.

Medical Researchers, Life Science Companies, and COVID-19 Survivors Launch a National Campaign to Drive Blood Plasma Donation

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Medical Researchers, Life Science Companies, and COVID-19 Survivors Launch a National Campaign to Drive Blood Plasma Donation. Working together under “The Fight is in Us” campaign, this group is seeking to encourage tens of thousands of people in the United States who have recovered from COVID-19 to donate blood plasma, which contain vital antibodies that have fought off the disease. Organisations, such as Octaphrma, America’s Blood Centre, Survivor Corps, and Biopharma Plasma are taking part in the campaign.

The founder of Survivor Corps, Diana Berrent, notes “As an early survivor of COVID-19, I was desperate to do whatever was in my power to be a part of the solution. I started Survivor Corps to mobilize and connect the thousands of people affected by COVID-19 to support all ongoing scientific, medical and academic research, and this coalition is furthering our goal. Inside COVID-19 survivors is the antibody-rich blood plasma that may help stem the tide of this pandemic. The time is now for superhero volunteers to donate their blood plasma and to potentially help stop COVID-19 in its tracks.”

The campaign is beginning in the United States, but is looking to also expand to Europe.

Machine Learning Could be Used to Estimate COVID-19 Seasonable Cycles

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Scientists at Lawrence Berkley National Laboratory are launching a project to apply machine learning methods to a myriad of health and environmental datasets to try and predict COVID-19 seasonable cycles. Berkely Lab Scientist, Eoin Brodie, said that “environmental variables, such as temperature, humidity, and UV [ultraviolet radiation] exposure, can have an effect on the virus directly, in terms of its viability. They can also affect the transmission of the virus and the formation of aerosols”. “We will use state-of-the-art machine-learning methods to separate the contributions of social factors from the environmental factors to attempt to identify those environmental variables to which disease dynamics are most sensitive.”

The research and development will take advantage of the health data available during the COVID-19 pandemic, along with other factors such as climate and weather, to try and predict how these factors can influence the transmission of COVID-19.

The COVID-19 Pandemic is Testing Medical Innovation in the United States

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Despite the issues in the United States health system, health innovation is an area that the U.S. has excelled in the past. The U.S. intellectual property laws and drug approval processes are designed in a way to reward breakthrough threrapies, granting years-long monopolies to companies delivering novel cures and treatments. But the COVID-19 crisis has truly tested the capabilities of medical innovation in the U.S.

U.S. pharmaceutical companies have worked tirelessly to develop treatments for COVID-19, where they have repurposed and combined existing innovation, hoping the right mixture could treat coronavirus infections for those who have already contracted the virus. They have also raced to find a vaccine to prevent people getting sick in the future.

Nonetheless, these positives in medical innovation is coupled with two unavoidable negatives. First, antiviral research has become one of the most neglected fields in pharmaceutical development in the U.S., as companies have not been offered many incentives to pursue it and the work can be time-consuming. Secondly, a disorganized federal government has hindered the ability of companies to develop treatments and vaccinations for COVID-19.

Robin Feldman, Director of the UC-Hastings Center for Innovation, noted that, “unless we think about our long-term incentives structure, we will always be reactive. We’ll never be ahead of the game”. Therefore, although pharmaceutical companies are acting quickly to develop a vaccine for the current pandemic, the U.S. will need to provide further incentives and improve drug development to prepare for the next pandemic.

The Global Pandemic Highlights the Vitality of Innovation and Research & Development

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The COVID-19 Pandemic has generated a myriad of responses in the business community. What has been truly inspirational however, is the response of the private sector in demonstrating strength, resilience, and innovation. As highlighted by James Edwards, the executive director of Conservatives for Property Rights, the private sector medical research and development companies, such as biopharmaceutical companies, have taken the initiative and worked tirelessly to discover vaccines, cures, diagnostics and therapeutics. Medical device companies have also found unique ways to address supply shortages by adapting their business models and manufacturing processes. Edwards recognised that, “At times like these, we do well to take stock of fundamental assets that enable America not only to survive but to thrive amid challenges. These assets include limited government, a republic, private property rights, the rule of law, due process, a free-market economy and popular sovereignty. And sometimes underappreciated as an asset is innovation”.

As the United States battles the coronavirus and economic disruption, it is critical to recognise and acknowledge the true importance of innovation and development to solve social problems and enhance society’s ability to act.

Healthcare Workers can now get 3D Printed Prescription Protection Glasses

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Fitz is a startup company that makes custom, 3D printed glasses, using an iOS app that measures faces. That sentence alone proves how innovative this company is. But, as if that weren’t enough, the company’s now using crowd funding to develop protective eyewear for healthcare workers.

With Covid-19 rampant across the world, we’re all encouraged to stay inside, and away from anyone who’s sick. Unfortunately, healthcare professionals don’t have that luxury. Instead, they’re taking measures to cover their faces, to limit the risk of infection being passed from patients. But, current personal protective equipment (PPE) consists of face shields (a sheet of plastic) or a fabric mouth and nose mask; neither offer full protection. Add to this that more than 60% of doctors need prescription glasses, and experts are warning against using contact lenses. And so, healthcare professionals are turning to all sorts of homemade solutions to fit around their glasses and protect their face.

In conjunction with these frontline medical professionals, Fitz developed its Fitz Protect range. They provide more coverage than traditional glasses, including the eyebrows, which can accumulate viral particles and infect the eyes. Also, each pair is custom measured and made to fit the face, so can provide full coverage and are comfortable for long 12-18 hour shifts. The company developed its unique software using Apple’s depth-sensing Face ID camera. With this, Fitz provides a virtual try-on feature, and gets accurate measurements (to the millimeter) for that custom fit.

The prototype design came from discussions with workers in New York and Texas, who were struggling to find protection solutions. Because they’re 3D printed, constant feedback and customization was available throughout the development. The initial responses have been fantastic; doctors, nurses and hospital staff appreciate the effective, comfortable protection that helps them feel safe and do their jobs. Fitz is in the process of scaling up its operations, to get these made and shipped as quickly as possible.

What’s more, Fitz believes that this PPE should be available at no charge to doctors, nurses, and other healthcare workers seeing Covid-19 patients. So, the glasses are 100% crown funded. Currently, the company’s almost a third of the way toward its $60,000 goal and more than 3,000 healthcare workers have registered for a pair.

Are you developing an innovative product to help in the global crisis? Your work 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 Texas’ largest Specialist R&D tax advisory firm, offering tax credibility assessments, claim preparation, and advisory services. We manage all facets of the R&D tax credit program in Texas, from claim prep & 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.

Six Ways that Businesses of all Sizes are Innovating Through the COVID-19 Crisis

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The COVID-19 pandemic has forced businesses to adapt their business models and innovate. Here are a list of six ways businesses have adapted to meet demand during this crisis:

  1. Costovation
    • Vegetarian fast food chain, Clover, faced concerns arising from indefinite store closures and food waste. However, the company repurposed the ingredients it normally uses for its sandwiches into boxes of assorted fruits, vegetables and other supplies
  2. Banding together with others
    • A group of hotels, restaurants and cinema chains have been forced to close. However, a large majority of these staff were shared with Hema, a supermarket chain owned by Alibaba. Due to increase in online deliveries, Alibaba desperately needed help to meet demand for deliveries. By hiring these employees, it is reducing the negative ramifications of unemployment.
  3. Keeping your customers loyal
    • Customer loyalty is critical when everyone is looking for convenience, job security is low, and spenders are holding on tighter to their wallets. A grocery store in Western Massachusetts have sought to achieve this. Each day, the first two hours upon opening are reserved for senior shoppers only.
  4. Spot re-prioritized jobs to be done
    • Companies like Audible have recognised the shift in priorities and have adjusted their offerings to meet these demands. As children are staying home with schools shut, Audible has launched ‘Audible stories’, allowing anyone to listen to over 200 children’s stories for free
  5. Adjust to new consumer habits
    • As consumers are avoiding shopping in stores, countless companies are investing in delivery. Others are offering fully prepared meals, do-it-yourself packages, and grocery collections.
  6. Rethink customer experience
    • ‘The Old Brick Store’ in Vermont have started offering daily rundowns on social media of in-stock produce and hosting virtual pizza nights on Fridays

While this new sense of reality won’t last forever, businesses might realize that a more remote workforce will mean lesser overheads. Companies should consider that these new consumer habits may stick around in the long-term. Having an understanding consumer priorities and needs, along with developing innovative and creative solutions, will go a long way.