Three Alabama Universities to Receive $1.3M in Funding for New R&D Efforts

Alabama’s State Governor, Kay Ivey, has shown support of innovation in the state with his latest announcement. Governor Ivey has awarded $1.3 million to stimulate new R&D projects at three different Alabama universities. 

These programs will focus on life-improving projects and will be funded through the Alabama Research and Development Enhancement Fund – a state-funded program created under the Alabama Innovation Act.

• The University of Alabama at Birmingham. Total: $666,910.
  • $316,910 to conduct research relating to the development of a new neurovascular stent for stroke treatment.
  • $350,000 to conduct research involving the development of a new material in dental root-canal treatment.
• The University of Alabama. Total: $486,026. 
  • $399,831 to conduct research relating to development of a membrane for the removal of some man-made chemicals which may cause harm in humans.
  • $86,314 to conduct research involving the development of ultra-high performance concrete using materials available in Alabama.
• Lastly, Auburn University. Total: $184,773.
  • $184,773 to conduct research relating to the development of an iron-based contrast agent in an angiography procedure that examines blood flow in the body.

“Often, the research and development that comes out of our universities has far-reaching and life-altering impacts across a wide array of issue areas,” said Governor Ivey. “Alabama’s future outlook is largely dependent on our ability to find solutions to the problems of tomorrow, and I commend the students and professors for their dedication and time-consuming efforts to ensure Alabama remains the leader in innovation that it is.”

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

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