Significant R&D scheme attracting scientists from around the world

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Almost 260 scientists from around the world have applied for the New Delhi Visiting Advanced Joint Research (VAJRA) R&D scheme, which attracts the top international talent in the country’s research and development ecosystem

Screening of applicants for this exciting opportunity will continue throughout October and 70 applicants will be shortlisted and begin work in December.

Being selected for the VAJRA Faculty scheme is a significant opportunity and achievement. Scientists will be provided with a lump-sum amount of USD 15,000 in the first month of residency and USD 10,000 per month afterwards.

Eventually the plan is for the department of Science and Technology to select 1,000 scientists every year for the pilot project. This will aim to significantly increase expertise in the areas which India currently lacks in such as, renewable energy and water.

The following program will greatly benefit the advancement of research and R&D expertise in India, which will ultimately lead to further opportunities within the sector in the years to come.

India has seen a surge in global R&D, which helps nurture the country’s innovation ecosystem. If your company is engaging in research activities, it may be eligible for an R&D Tax Credit. An R&D Tax Credit reduces the cost and risk of undertaking R&D activities for your business. The benefit helps companies doing eligible work to create new or improved products, processes and services by reducing their tax. To find out if your company could be eligible, complete Swanson Reed’s quick and simple contact form.

Swanson Reed also regularly hosts free webinars and provides free IRS CE credits as well as CPE credits for CPA’s.  For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Automated Vehicles- The Next Big Thing for R&D in Fort-Worth Region

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Self-driving cars are set to be the next big thing in Texas, specifically in the Forth Worth region as congestion is a major issue. The U.S. ranks 16th overall for congestion, making the market for self-driving cars needed. The development of this product is something that is completely new and innovative. It requires experimentation in regards to safety, maintenance, etc. Research and development (R&D) tax credits is something that will be very useful in this industry.

Thomas Bamonte, the automated vehicles program manager is a team of one in the Fort-Worth region and is looking into the legality of having more vehicles on roads but increasing traffic flow at the same time with self-driving cars. Bamonte believes that before self-driving cars hit the market, there has to be a few changes. The focus may change from cement and road structure to back-end computing systems, digital technology within signs, traffic lights etc. R&D tax credits will benefit this industry due to the highly technological changes that will need to happen.

The changes that will need to happen to make the autonomous vehicle industry flourish are ongoing and still in the design stages. If your company is experimenting with new products or technologies contact a Swanson Reed R&D Tax Advisor today.

Electric Scooter Transportation On The Rise

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By the end of 2017 the electric scooter market is expected to be valued at more than $8B with the market then jumping 3.9% to $12B by the end of 2027. Research and development (R&D) is being conducted in order to find the best hybrid scooter, and the most efficient way to charge the scooters, taking it from hours to minutes.

Charging stations producing a direct current need to be readily available, allowing scooters to be charged in less than an hour. Engineers are currently trying to find a way to provide direct current as opposed to alternating current being sourced from overhead grid lines. The nature of this project is eligible for R&D due to the experimentation relying on the engineering of these charging stations, and the increased performance of this transportation.

The sales of electric scooters made up 2% of the total number sold worldwide in 2015. In order for this to change these charging stations need to be readily available. With the help of R&D Tax Credits this can happen.

If you would like to check your eligibility for R&D, contact a Swanson Reed R&D Tax Advisor today.