SMART Session delivers insight into R&D Tax Incentives
Madison Russell, Account Manager & Partnerships Executive at BourkeHood, delivered a SMART Session in Armidale this week. Referencing the Research & Development Tax Incentive and other non-dilutive funding options for business owners, founders and entrepreneurs, Madison offered insight into how a startup, small business or established operation might obtain non-diluted funding and maximise their potential without liquifying equity.
BourkeHood provides expert consultants for innovation funding to empower businesses to grow. Formerly an Armidale local, Madison was keen to share her insight with New England North West businesses.
“There was plenty of conversation in the room as Madison explained how BourkeHood might help a business maximise growth potential,” said Pip Spilsbury, UNE SMART Region Incubator Regional Connector, Armidale.
“In Australia and New Zealand , BourkeHood’s specific expertise is in innovation funding and capital advisory. They specialise in R&D Tax Credits, an incentive which rewards companies for investing in innovation.”
The R&D Tax Incentive is claimable by any PTY LTD company inside Australia that is engaging in innovative work - in any sector. The incentive can be claimed by entities that meets these four main criteria:
The technical staff must be expanding on their own technical knowledge
The business must be structured as a PTY LTD or a private company
A systematic approach must be taken when undertaking the R&D
The business must have borne a financial risk in the process
“Madison’s SMART Session presentation, and subsequent conversations and 1:1s, encouraged confidence and an enthusiasm by attendees to take next steps,” Pip said.
“BourkeHood’s track record of success in identifying and implementing cost savings measures, as well as developing and maintaining financial models to support strategic decision-making, demonstrated what’s possible.”