R&D Tax Incentive Case Study – How BridgePoint Group Helped ViMedia

Australian R&D Tax Incentives and grants are a way the Australian Government support business innovation. No matter what stage your business is at, innovation is a key driver of and precursor to growth.

Here’s an example of how BridgePoint Group assisted ViMedia, one of the fastest growing digital billboard networks in Australia.

ViMedia has one of the fastest growing digital billboard networks in Australia. As innovators in digital technology and digital interactive solutions, they provide advertisers with data driven hyper engagement.

The Market Gap ViMedia Identified

ViMedia has developed a global first with an interactive advertising, digital survey and data collection unit, deployed as a network of handheld device charging kiosks. This invention is known as klackit.

The klackit kiosk can be wall mounted or free-standing, consists of a digital touchscreen that connects directly to the 4G network and has been constructed with a bespoke interface. The klackit kiosks can be deployed at cafes, pubs, gyms, retail outlets, etc. Klackit kiosk lockers are individual, reinforced steel boxes, so phones are safe with klackit. Their state-of-the-art phone charging kiosks are always free, secure and covered by 24 hour support.

How did BridgePoint Group Help ViMedia?

In order to continue funding the ongoing design and development of such a bespoke invention, ViMedia were referred to us to assist it boosting its cash flow by applying for, and receiving, the refundable R&D tax offset.

As such, we worked closely with the team at ViMedia to apply for the Australian R&D Tax Incentive as soon as its financial year had come to an end. This involved us preparing and lodging an R&D Application Form with AusIndustry, as well as us assisting in calculating the eligible R&D expenditure and associated refundable tax offset for disclosure to the Australian Taxation Office.

What is the situation now with ViMedia? 

This has resulted in a significant improvement in the cash flow at ViMedia. Now ViMedia able to claim a 43.5% refundable tax offset for the R&D activities conducted.

BridgePoint Group ensured that the annual R&D Tax Incentive claim of ViMedia is lodged within the first few days of the lodgement period opening, thereby ensure that its R&D tax refund is paid out sooner rather than later in order to help fund its next round of R&D and to foster further opportunities for commercialisation.

ViMedia continues to grow it’s footprint across cafes, gyms, retail outlets, bars, pubs, festivals, surf clubs and food courts across Australia.

For more in formation please contact Alan Baghdasarayan – Alan@bridgepointgroup.com.au or call 1300 656 141

Check out the Innovation Advisory portal here.

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Alan Baghdasarayan

GOVERNMENT GRANTS & INCENTIVES DIRECTOR

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