Innovation Strategy: Engagement and Support

Innovation Strategy: Engagement and Support
an updated offering from BSM

1. Innovation Strategy:
Engagement & Support
an updated offering from BSM

2. Company Background
•BSM founded in 2012
•4 directors
•Worked together at Birmingham City University
•R&D Tax Credits opportunity with Accountancy practice
•Tried out on ‘friendly’ companies
•Left BCU with 6 clients and gave it 6 months
•Not just R&D
•Grants etc
•Grew business to over 250 clients
•95% R&D Tax Credits
•Student placements & Grants
Time to reassess offering…

3. R&D Tax Credits
•Achieving significant cash benefits to re-invest back into the
business to further enhance in-house capabilities
•Understanding that significant research and development
activities are undertaken within the businessproviding
competitive advantage
•Realising that there is an ongoing tax benefit
by undertaking new and innovative projects
•Knowing that a claim can be made year
after year

4. The R&D Landscape
Policy Changes from August 2023
•All claims to be made digitally –HMRC to more effectively risk assess
claims
•Each claim to be accompanied by additional information so HMRC can
better identify and target higher-risk claims
–Advanced Information Document (AIF)
•Requiring significantly more technical detail to support finances
•Requiring each claim to be supported by a named officer of the company
and agent associated with a claim

5. Technical Information
•What was the gap in scientific, technological knowledge or capability?
•Has there or is there an appreciable improvement or step change in the
field of science or technology?
•What is the current state of baseline knowledge within the sector?
•Scientific or technological uncertainties faced by the company
•How did the project seek to overcome these uncertainties
•Names, job roles and biographies/ backgrounds of the competent
professionals involved in the project.

6. Outcome
Increase in scrutiny + Increase in Information required = Fewer
companies claiming
Its not a problem… its an opportunity…
•Worked hard to get clients
•Understand their ‘innovation’
•Built trust –more time to listen
–What else can be offered??
–What other innovation/ knowledge based support is required??
•Have offered grants & University support
•Re establish contacts/ networks

7. BSM’s Value Proposition
Innovation Strategy Support
•Research & Development (R&D) Tax Credit Claims
•Capital Allowances & RDA’s
•Asset Finance
•Grant funding streams
•ISO standards/ quality systems
•Protecting Intellectual Property (IP)
•Apprenticeships
•University Engagement & Support
•Student placements & KTP programmes
•Access to new knowledge
•Access to cutting edge tech
•Ideas for collaboration
•Networks etc

8. Morgan Cars
•Lean Consulting
•Funding Streams
oDirect Access to Innovate UK
§University Engagement
•Birmingham City University -Knowledge Transfer Partnerships (KTP)
•Warwick University-Innovate UK Funded APC Programme Skills Development
•Loughborough University –Innovate Funded APC Programme Skills Development
•Wolverhampton University –Race Team Involvement
§KEEN Programmes (Small programme assists)
•Intellectual Property Protection
oRationalised Morgan protected portfolio via Wynne Jones
•Quality Systems Support via ISO QSL
oISO 9000
•HEI Engagement
oHeart of Worcester College –Supporting Learners into Work
•Apprenticeships
oMoving towards collaboration with In-Comm
•Combined with R&D Tax Credits claims