A Start up Companies R&D and EMDG journey
S and A’s big idea was a portal for people and enterprises to access a variety of software without having to pay large licensing fees. The software could be accessed based on the amount of time purchased, and could be as little as hours to months. They gave up their corporate jobs for a “start-up” to develop their ideas and started pitching their ideas to investors.
After going through and wining a number of ‘pitching’ competitions, the start up company secured funding from investors to develop their portal. Ray met S and A as they were pitching for funding and they were immediately attracted to the idea of an R&D Tax Incentive to support their development. In the early part of the Start Up’s journey, the refund from the R&D Tax Incentive allowed them to survive and thrive as they kept sourcing for capital funding for their business.
As well, the Start-up company expanded overseas with offices in the US and Middle East established to market the benefits of the portal. This created the opportunity to claim the Export Market Development Grant (EMDG) which help offset the costs of running these centres.
Today this start up company has developed and evolved their idea from a simple platform to access software to a ‘business platform as a service’ for SME’s. They have partnered with major international banking, accounting and consulting firms to offer business services to SME’s cost effectively.
Do you have a vision of expanding your start-up into overseas markets? The R&D tax incentive and EMDG Grant might be your answer. Contact us to talk about your options.
