R&D tax incentive (RDTI) A great opportunity to make a difference

The Government has shown they can make decisions and they can make decisions fast.

There is a window of opportunity for government to support innovation in Australia -  and make it attractive for innovators and  IP to stay in Australia. 

They can do this by reigniting the R&D Tax Concession (RDTI) as a tool to encourage Innovation and R&D and  keep Innovators and IP in Oz! 

This should be the focus of the government, rather than its planned $1.8 billion cut to the R&D tax incentive (RDTI). This cut is absolutely the wrong thing to do in a post Covid-19 environment .

Our Treasurer agrees that tax support for innovation is key 

“We need to have a tax regime around intellectual property to attract companies and maintain their investments in Australia,” Mr Frydenberg said in the UK last year.

The easiest way to ignite Innovation is to encourage innovation by expanding the definition  of R&D in the RDTI programme 

Do you agree that the  R&D Tax Incentive to be reignited 

Write “agree” in comments below

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Deliveroo raises $361 million Series E round to help deepen Australian roots and begin RooBox rollout

Global restaurant delivery service Deliveroo has announced the closing of a US$275 million ($361 million) Series E funding round led by Bridgepoint, DST Global, and General Catalyst, with participation from Greenoaks Capital.

The funding, which brings the total raised by the startup since its founding in 2013 to $623 million, will go towards expanding the service in new and existing markets globally, as well as facilitating the continued rollout of RooBox, delivery-only kitchens built out of shipping containers established in areas currently not reached by the core Deliveroo service.

Levi Aron, country manager for Deliveroo Australia, said he is particularly excited about the possibilities for RooBox locally, where Deliveroo services the Melbourne, Brisbane, and Sydney central business districts and inner suburbs.

“We predominantly work with restaurants that don’t offer delivery themselves, and by their very nature these are high end or gourmet restaurants that sit in very central locations in our cities. What RooBox enables us to do is bring the people to the food and bring the food to the people,” Aron explained.

“We’re now able to go to these developments being built up around our cities, where there’s huge populations who may be half an hour or 45 minutes away from the great restaurant supply that some of us are able to enjoy depending on where we live.”

Aron said Deliveroo is having conversations with its restaurant partners and councils to identify areas with potential, with restaurants particularly interested in the concept due to the fact it is a low risk way for them to test expansion.

“Expansion is one of the hardest problems restaurants face. If they’ve got a fantastic business in Surry Hills, where do they open up next? How do they know where to open? Having these conversations with us is enabling them to, in a low-risk environment, open up their restaurants to a great population who hasn’t experienced their food before but has heard a lot about it,” Aron explained.

With RooBox set to begin rolling out in Melbourne and Sydney over the coming months, Aron said Deliveroo is also focused on deepening its core roots in its three Australian markets before looking to expansion.

Launching in Brisbane in April with 50 partner restaurants on board, Deliveroo reported that it now has over 170 restaurants using its service in the city, while it is seeing growth of between 30 to 35 percent month on month across Brisbane, Melbourne, and Sydney. There are over 1,200 partner restaurants now on the service, with Deliveroo recently signing on Mexican chain Guzman y Gomez and Jamie’s Italian.

“We’re in 12 countries worldwide and 84 cities and Australia rates in the top three to four, it’s a very high performing country,” Aron said.

Aron could not reveal which city Deliveroo was heading to next around Australia, but said the service is keen to expand further around Queensland, outside of Brisbane.

From startup daily http://www.startupdaily.net/2016/08/deliveroo-raises-361-million-series-e-round-help-deepen-australian-roots-begin-roobox-rollout/

Government handouts for business

Article in Australian Institute of Company DIrectors 7 May 2015 

http://www.companydirectors.com.au/Director-Resource-Centre/Publications/eXPRESSO/15May07BO/Government-handouts-for-business#

Spare cash for new business ideas or research is often tough to find but federal, state and territory governments are handing out millions of dollars each year in grants and tax incentives to help enterprises of all sizes.

The aim is to provide government support for innovation, export, environmental initiatives and a host of other measures.

Many business are simply not aware of the wide range of grants available, says Ivan Kaye, CEO of business consultancy BSI. "Or, if they are, it’s just too hard. The red tape people have to go through is incredible."

But those who patiently work their way through the paperwork (or hire consultants to do it for them) can reap significant rewards.

Kaye gives an example from his own business, which used a tax break and a business grant to help defray the development costs and marketing of a new app it launched two years ago.

The app, called Referron, provides a way to refer potential clients to businesses and for the business to measure, track and reward the referrals.

To begin with, after spending $300,000 developing the app, BSI received $120,000 back after qualifying for the Research and Development Tax Incentive, says Kaye.

Promoted as a "targeted, generous and easy-to-access entitlement program", the tax incentive is open to all firms in all sectors that carry out eligible R&D. Companies may receive a refundable tax offset of up to 45 per cent under the scheme.

"A lot of businesses who do R&D may not be aware that they qualify or think it’s too hard to get," says Kaye. There’s a bit of work in checking that you actually qualify for the incentive, he says, and then it’s necessary to prove that the R&D was carried out.

Firms such as BSI specialise in helping companies to work out their entitlement to this and other grants and incentives, says Kaye. And often payment is in the form of a "success fee" of around 3 per cent of the value of the grant or incentive.

Help to sell overseas

With BSI’s app up and running, Kaye was keen to market the product overseas.

To help fund the costs of travel and appointing a permanent representative in the United States, Kaye turned to an Export Market Development Grant. This grant provides a 50 per cent refund certain marketing costs over $5,000.

"So assume I spent $25,000 on airfares and another $10,000 on accommodation over a period of a year – let’s say 30-40 days – and I could claim back $300 a day for the number of days I’m away. So that’s another $12,000 that goes onto my expenditure," says Kaye.

The cost of hiring a representative to promote the app is also claimable under the grant as is the cost of Google AdWords.

"What we’ve found is, whatever you spend on R&D, you probably spend at least three times marketing," says Kaye.

"So if you spend $305,000, they take off the first $5,000, then you divide it by two and the government will give you a grant of $150,000."

You can expect some hoops to jump through to claim. Your documentation of the expenses and payments needs to meet certain standards, says Kaye.

Kaye received received recommends companies investigate the grants and incentives available not necessarily just to chase a one-off bonus but as part of an overall strategy to help expand their business.

For more information about government grants and incentive programs, go to business.gov.au

In other words…

• Take advantage of the many grants and incentive programs available for businesses
• Millions of dollars are handed out every year to businesses of all sizes.
• Some businesses may hire consultants to help them identify the most appropriate grants and to negotiate the application and approval process.

Victorian Grant available to assist Innovative Businesses Grow

Find out How to grow your business & how to access Government Grants to do so

Right now, through the Federal and Victorian State Governments there is quite literally millions of dollars available to growing businesses, potentially, like yours.

• How much funding did your business miss out on last year?
• What's your business growth strategy? And, how will you fund that growth?

Our surveys of thousands of business owners tell us that the #1 thing every business owner wants help on is, how to grow.  

Discover new ways to grow as well as how to fund that growth through a variety of channels, including utilising grants that exist today to help you do exactly that.  

Join me to find out how to maximise these grants - Register here 20 Places left

Where and When:-
Melbourne Parkview Hotel

562 St Kilda Rd Melbourne, VIC 3004
Australia 

Tuesday, 4 June 2013 from 6:00 PM to 8:00 PM (PDT)

Grow your business and your Brand

We're holding a small, private Boardroom Event for a select few on Tuesday May 14 at which Ryll Burgin Doyle  will be speaking. You're invited to attend. 

This event is about growing your business and your brand. Growth is critical to any business - new strategies for increasing revenue, sales and profits will be explored. Further, Ryll will tell you branding is not just for Coke or Virgin, its just as important for your business as the big guys. 

Ryll will also be sharing information on the Victorian Vouchers Innovation Programme, which could fund your business up to $10,000 to assist you in increasing innovation,employment and productivity . Very few places remain please CLICK HERE to find out more and register for this hands on event.

Whi is Ryll Burgin Doyle?

Ryll's experience in helping business owners like you grow their businesses is unparalleled - starting her first business helping others access Government Grants for Business Planning at the ripe old age of 23, Ryll's career has spanned Australia, New Zealand and the USA - working with small and large businesses alike, from the local florist to $1B companies - to grow their businesses and their brands significantly.

Ryll is also the driving force behind the creation of 10X - an international business coaching brand of excellence, now partnered with BSI and myself.

Further, Ryll is the Founder of non-profit stepUP, which operates in 3 countries helping to inspire our teens - particularly underprivileged and at risk teens - about their futures in business and in life. That program is extraordinary, as is Ryll.

Join Wayne Schwass and me at an evening on how you can Maximise Government Grants available to you

To my Victorian Subscribers.... join us at  an evening where you can find out how to maximise government grants that may be available to you including .

CLICK HERE TO REGISTER

• the Export Market Development Grant (EMDG scheme administered by Austrade)
• The R&D Tax Rebate
• Commercialisation Australia
• Various State and Federal Training Programmes
• The new Victorian Innovation Vouchers Programme

What is the new Victorian Innovation Vouchers Programme?  – As a business owner you could be entitled to up to $10,000 toward Business Coaching, enhancing your own knowledge, leadership and skill base to increase productivity, improve your marketing, sales, innovation and profits and bring about positive change across your entire business.

In other words, if you are committed to significantly improving your business, innovating for growth and you qualify, the Government may assist you for it to the tune of $10,000 to do so!

Further, the Victorian Business Research and Development Voucher Program connects companies with Universities, CSIRO and research institutes and can fund your business up to $25,000.


Find out if you qualify for Government Funded Dollars for the Growth of your Business on the evening on Monday April 15.

Attend this Seminar, hear from the experts and find out more about these grants and if your business is eligible for assistance. Specifically, Michael, Ivan and Brendan will provide key insights, essential knowledge and strategic advice on:

• What grants are available
• How to access these funds;
• Your eligibility criteria;
• How you can qualify;
• Explore different options of maximising your return.

We are delighted to have the legendary Wayne Schwass host this event  - Wayne is one of the most highly rated performers in the AFL history, playing 282 AFL games over 14 years with the North Melbourne Football Club (1988-1997) and the Sydney Swans (1998-2002).

Wayne is an awesome  AFL Broadcaster on TV, radio and online with AFL.com, AFL Live, Triple M Footy and AFL Central- hosting such shows as Off The Bench TV, Footy Feast and calling AF on the AFL Live.

Wayne will share with us the challenges about trying to secure funding from his experiences raising $1M for the charity he founded (thee Sunrise Foundation, and the importance of fundraising, how to do it, why and whose responsible.  This insight will be both motivating and beneficial for all SME's on their journey to secure funding for their businesses.
There are only 20 seats left for this event, so you’ll need to book NOW by simply clicking here to register or calling 02 9262 3333 and asking for Rachael.

• Where: Melbourne Parkview Hotel, 2 St Kilda Road, Melbourne
• Date: Tuesday, 14 May
• Time: 6.30pm
• Expert Presenters: Michael Lynch, Ivan Kaye & Brendan Hook
• Your Hosts & Sponsors: 10X & BSI
• Single Ticket: $45, tax deductible

• Multiple Tickets: 2 for $60, Of course, tickets include comprehensive reference materials and refreshments.

I look forward to discovering what’s potentially available for your business at this special event.
I will keep an eye out for your registration to attend.

Do You want to maximise your export grants?

FEDERAL GRANTS ON HOLD

It has recently come to light that the Federal Government has placed a 'temporary pause' on new grants. It has been confirmed that the Commercialisation Australia program and the Clean Technology Investment Fund, among others, have been affected by the pause.

Swan... we are putting a pause on $2b worth of government grants.
We need a surplus!

While the programs are still open for application, no new grants are being written for the duration of the pause which has been described as a 'normal part of the budget process'. At this stage all background work such as preparation of guidelines and the assessment of applications is continuing as normal, but uncertainity remains regarding how long the pause will last and what will happen to the grants programs following the conclusion of the pause.

EXPORT MARKET DEVELOPMENT GRANT

EMDG is the financial initiative of Australian Government aiming to help and aid current and aspiring exporters.

Do you want to maximise your export grants?

Global and domestic economies are facing turbulent times. Europe’s sovereign debt crisis, the struggling US economy, Australian’s two speed economy and wavering business sentiment are just some of the challenges facing business today.

Australian businesses have historically demonstrated their resilience and resourcefulness during tough times. Initiatives such as EMDG are important tools in bolstering the current account and foster strong, sustainable growth.

The Export Market Development Grant:

• Provides a 50% rebate on eligible overseas marketing costs above $10,000 (minimum spend $20,000).

• Acts to encourage Australian exporters to seek out and develop overseas markets. These markets include goods and specified services and industrial property rights which are substantially of Australian origin.

• Has a maximum grant payable of $150,000 per annum for a maximum of 7 years.

We at BSI believe that there is no better time than now for exporters to plan their activities and to establish or increase their overseas market share.

If you wish to know more please contact us and we will be happy to arrange a meeting for an obligation free initial eligibility assessment.

BSI INNOVATION
Suite 1, Level 3
55 Holt Street
Surry Hills NSW 2010
P: 02 9212 5505