“What I love most about working with Catalyst Solutions is how their team gets committed to supporting your company and making sure one accesses as many funding opportunities as possible. They have a very dedicated team approach where everyone in their team gave attention to our team and provided us with unique services tailored to our needs as a company. I also love and appreciate the excitement they have in the work we are doing as a company – as a start-up founder, that helps boost one’s confidence” – Nneile Nkholise, Business Lead, Med Tecma
Background:
Med Tecma Group (or “3D-IMO”) specialises in the use of data analytics to generate and connect data, as well as communicate data insights to optimise business performance in various sectors. The company is specifically interested in data analytics related to the sport and agricultural sectors.
They are undertaking a project to develop an animal husbandry monitoring system known as the “Thola system”. The system aims to significantly improve the current methods of monitoring, detecting and proactively preventing the spread of disease within livestock through the use of thermal imaging cameras and artificial intelligence to collect, store and analyse data which will be used to detect, monitor and prevent the spread of disease within livestock.
The implementation of AI and Machine Learning intelligence along with biometric identification into drone-based IR cameras in the monitoring of live, moving targets in the livestock farming sector is unprecedented. As such, the development of the product will result in a revolutionary and significant improvement to the performance of the existing methods of livestock monitoring as well as a significant improvement to the quality and reliability of the data currently being collected and processed.
The Challenge:
Although Med Tecma had received some investment to assist with the significant R&D projects ahead, they still required further financial assistance to meet their goals. While they were aware that they might be entitled to R&D grants and incentives for their work on the “Thola System”, they were unsure of how to maximise this opportunity.
The Solution:
Catalyst Solutions found that Med Tecma’s R&D efforts were eligible for the R&D Tax Incentive and the Support Programme for Industrial Innovation (SPII) Grant. They worked closely with Med Tecma to analyse all available opportunities to add to their R&D investment. The R&D Tax Incentive application has already been submitted and approved.
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150% Tax Deduction Catalyst Solutions submitted an R&D Tax Incentive application for the “Thola System”. Ultimately, the project was approved by the Minister of Science & Innovation and unlocked a 150% tax deduction for Med Tecma on their R&D costs. |
KPI Snapshot: Success in Numbers
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100% Percentage of qualifying expenditure eligible for R&D Tax Incentive |
1 The project was approved despite a 36% rejection rate of 11D Tax Incentive applications |
2 Months Approval was received only 2 months after the submission of the project |
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