OLT ERP, Limited, is a tech startup based in London UK, founded by Dr Sangeeta Jain. Her team develops customised software solutions for universities and colleges, including an AI-powered app, named Eudemonic to assess academic stress among students to facilitate timely targeted interventions to minimise the losses due to students’ mental stress. This is a preventive deeptech application with a transdisciplinary approach to support students from dropping out of their courses by using survey questionnaires, data analytics, sentiment analysis and AI modelling.
Dr Jain says that she was unaware of R&D tax credits when she became a Swoop customer:
“I was looking for funding for OLT when somebody from my circle of friends recommended Swoop to me. Initially I used Swoop purely as a funding platform, and I spoke with a funding manager who recommended me to look into R&D tax credits.”
That conversation led to Sahil Shethia, Swoop’s in-house R&D expert. Dr Jain continues:
“Sahil was patient enough to understand what we were doing and prepared a strong application explaining why OLT should qualify for R&D tax credits. We got about £10,000 back, which is a good amount for a startup.”
Sahil says:
“Dr Jain presented me with a classic example of a company that is intended to be helped by R&D tax credits. By getting this money back from HMRC, we have reduced the need for OLT to borrow, helping a great idea come to market faster and more profitably.”
If you want to learn more about the R&D tax credit, read our comprehensive guide and find out how your business can benefit.
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