Hitachi discusses strategy in R&D initiatives around the world

Innovation Success Globe

Conglomerate giant, Hitachi, operates in several industries around the world and invests heavily in research and development across many sectors.  As a for-profit company, Hitachi funds their own research and development, and so must strategize in choosing which R&D projects or industries to invest in to be most effective and lucrative.

According to Hitachi’s co-head of Social Innovation Business, Patrik Sjoestedt, Hitachi’s strategy is to address major issues that have the biggest affect on society.  These issues and their affects vary greatly by region, but typically these projects tackle issues such as climate change, water management and energy use.  Hitachi addresses modern day problems with technology to create solutions for society, such as developing sensors to deal with traffic congestion.

Determining which issues to invest R&D in is heavily influenced by region.  For example, in Southeast Asia, development is heavy as cities are being built up, and so importance of research and development is on issues such as energy efficiency and security.  Another example exists in Germany, where manufacturing is one of the biggest industries. Here, R&D would aim to solve issues resulting in reducing waste, optimizing energy, managing pollution and increasing overall efficiency.  Similarly, in cities such as London and New York, transport (including transport of goods) is a major contributor to issues like pollution and congestion.  R&D invested in transportation would aim to reduce emissions and optimize transport loads, perhaps through technologies such as self-driving vehicles.

Hitachi will continue innovating to solve major issues faced around the world today through R&D.  The R&D tax credit is another strategy available to Hitachi any other companies developing new and improved products and processes, allowing a credit of up to 14% of eligible spending.

If you would like to find out how your company could benefit from Research and Development Tax Credits, please contact a Swanson Reed R&D Specialist today.

Texas startup on mission to cure wine hangovers

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Research has shown that after drinking wine, up to 75% of adult consumers may experience hangover-like symptoms such as headaches, flushed skin or congestion.  PureWine is a Texas based startup that has created a new filter that removes ingredients (specifically, histamines and sulfites) from wine prior to drinking, aiming to prevent hangover like symptoms.  

PureWine’s co-founder, David Meadows, and his son started researching this system, referred to as a ‘Brita filter for wine’, over five years ago. Today, the company has successfully developed a wand-shaped filter that absorbs the chemical compounds, or ingredients, from the drink, preventing the dreaded hangover.  The wand filter has been designed to cover multiple beverage platforms, including beer and champagne.

The R&D Tax Credit is available to PureWine and other companies developing new and improved products and processes, allowing a credit of up to 14% of eligible spending.

If you would like to find out how your company could benefit from R&D Tax Credits, please contact a Swanson Reed R&D Specialist today.

R&D Tax Credits for Pet Tech and Toys

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Data from the American Pet Products Association (APPA) states that over 65% of US households own a pet, with around 86 million cats and 78 million dogs across the country. Pet-owners are spoiling their furry friends more than ever. Countless toys pervade the market and “pet tech” like GPS trackers, pet cameras and activity monitors have become popular ways to help keep pets safe and healthy. In fact, the wearable market for pets is expected to reach $2.36 billion by 2022.

If your business creates pet technology or other pet items, you may be eligible for R&D tax credits. Items like dog bones, hamster wheels and even protective pet shoes may count as eligible R&D, as well as innovative water and food dispensers, pet brushes and work undertaken to improve pet nutrition and behavior. The development of software and apps to create or improve technologies such as “fitbits” for dogs or pet door technology are often eligible as long as they meet the requirements below.

3D printing of pet products is a strong indicator of innovative activity as it is often used to create one-off prototypes to economically test ideas. This can be useful for products like retractable dog leashes, which often fail during use. Another area of 3D development is pet prosthetics, where 3D scanners can custom fit a pet with a fitted limb.

R&D activities must do the following:

  • Require experimentation
  • Attempt to eliminate an unknown
  • Be technological or scientific in nature
  • Be a new or improved product, service, process or technology

If you are unsure whether your work qualifies for R&D tax credits, or you would like expert assistance in making a claim, please contact Swanson Reed R&D Tax Consultants. You may also be interested in our free, online eligibility test.