Wisconsin Promotes R&D Through Governor’s Business Plan Contest

The Governor’s Business Plan Contest is gearing up for 2021 to help reward and promote entrepreneurs who practice research and development. With over 80 volunteer judges so far, the judging pool will include many early stage investors. Judges include investors from companies like Wisconsin Investment Partners, Capital Midwest, and Inventure Capital. Entrepreneurs, advisors, and executives from larger businesses also fill the judges table.

Contestants will work through four phases with help from volunteer mentors from companies like the UW – Extension’s Center for Technology Commercialization. The judges will provide feedback throughout the stages, providing insight from people who are experienced with technology, investing, and business. The finalists of the 18th annual contest will be awarded $125, 000 in cash and prizes like legal, accounting, and marketing aid. Of the previous 17 finalists, 77% are still in business working on research and development of their products.

The 2020 winner was Plumb Pharmaceuticals, LLC. They developed a platform technology for the development of super-extended-release medications that extends release 3-5 times longer than current medications.

Are you developing new technology? 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.

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