Newcastle technology development consultancy, NewieVentures, has been named one of the third Hunter-based entities to receive national recognition as an approved Research Service Provider (RSP).
NewieVentures join the University of Newcastle and Ampcontrol’s research and development (R&D) arm ResTech as the Hunter Region’s three Government registered RSP entities.
An RSP is a business or institution approved by the Australian Government’s Department of Industry, Innovation and Science that has appropriate scientific or technical expertise and resources to perform research and development on behalf of eligible companies.
For companies or individuals who wish to undertake R&D activities, registered RSP entities can provide a selection of benefits that can assist in lowering the barrier to entry for innovation.
When employing the services of an RSP such as NewieVentures, the usual requirement for R&D entities to have a total annual expenditure of over $20,000 to claim the R&D Tax Incentive is waived.
This enables small and medium-sized businesses to undertake R&D activities without having to invest in costly R&D equipment and expertise.
Additionally, companies that intend to engage in R&D activities can be assured that an RSP has met a set of government-approved criterion which includes staffing, facilities, capability and capacity to undertake R&D.
The addition of NewieVentures to Australia’s RSP directory means that more Hunter businesses have access to valuable resources and expertise, growing the innovation output of the region.
Principal Engineer and Founder, Heath Raftery, said they proud to be a registered provider and that this will see them can innovate further for their customers.
“We at NewieVentures have been very much the beneficiary of working with our collaborators and I see that as the way innovation is done in the future,” he said.
Already, NewieVentures is providing R&D technology development services to local innovators such as compact wind turbine company Diffuse Energy, Point-of-Care service providers NSW Health Pathology, and global mining technology providers Orica.
“Our business’ purpose statement is that we transform ideas into products,” he explained.
“Our customers provide us with the blue-sky ideas, our team assists these businesses with the technical pathways to translate these product concepts into prototypes and Minimum Viable Products.”
Earlier this year, NewieVentures joined Hunter-based electronic manufacturers, Ampcontrol and Safearth, to develop emergency prototype ventilators in response to the NSW Government’s request as the state’s cases of COVID-19 began to rise.
Ampcontrol Group Engineer Manager, Ian Webster, said he realised big ideas required big thinkers and a strong team to back positive results.
“I recognised that this project was bigger than any one company, so it was important to bring other people from around the region in and contribute to the project by bringing forward their own ideas,” he said.
“Our company is extremely proud to be recognised as a Research Service Provider,” Heath said.
“With the R&D tax benefits that this will create for our service offering, we hope to attract more innovative clients who are looking for a dedicated engineering team that can bring their technology ideas to fruition.
IMAGE | NewieVentures recognised as one of the Hunter’s Research Service Providers.