Page 29 - Innovation Delaware 2021

why DELAWARE
Entrepreneurs share how Delaware, with its strong infrastructure of support groups and easy access to power players, has helped them innovate and thrive.
INNOVATION DELAWARE 27
OADESIS credits, according to the Delaware
BioScience Association. Another important feature
of the credit: “You don’t have to have revenue to qualify, so for small startups, it’s great,” Stimson says.
For Adesis, the credit ran into the high six figures, which allowed the company to
make a significant down payment on its lab, according to Stimson. The company also learned that it qualifies for additional funds through the Delaware Manufacturing Extension Program (DEMEP), which will provide another six-figure boost.
“For small to mid-sized companies, these are tremendous assets to have,” Stimson says. “[U.S.] Senators Carper and Coons also are very interested in how things are going. They come, they listen, and then action gets taken.”
ne persistent challenge for innovators in Delaware is a shortage of lab space, but the state has made a potent tool available to help: the R&D Tax Credit.
Contract research organization Adesis has been looking to expand its analytical testing capabilities and will be hiring people to support that business, says HELEN STIMSON, chief operating officer. But before that can happen, the company needs the space to house its testing labs.
“We might have said, let’s go to Pennsylvania or Maryland for lab space, but because we have things like the R&D Tax Credit available to us, it makes us think we don’t want to leave the state,” she says.
The tax credit provides money back on eligible spending on research and development activities conducted in Delaware. The tax credit used to have a $5 million expenditure cap, but that cap has since been eliminated, a unique feature compared to other states’
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