New Ground™
From Setback to Success: New Ground Coffee’s Journey with Swell
Client
Services
Sector
Year
New Ground™
R&D Tax Incentive
Manufacturing
2024
Overview
New Ground Coffee (NGC) set out to revolutionise the coffee industry with innovative products and cutting-edge technology. However, their journey faced a challenge when their R&D Tax Incentive(RDTI) application encountered difficulties. That’s when Swell stepped in to assist, helping to turn a challenging situation into a positive outcome. With Swell’s support, NGC was able to secure the funding they needed to continue their growth. This case study highlights how Swell’s expertise provided essential support for NGC.
About
Founded in 2018, NGC is all about creating the world’s best tasting instant coffee and other innovative coffee products. Their proprietary technology, New Ground Tech (NGT), enables them to produce high-quality espresso-strength coffee at scale. With a global footprint spanning Australia, New Zealand, the UAE, the US, and Europe, NGC was growing rapidly.
Challenges
Originally, NGC decided to complete their RDTI application in-house, however this created challenges throughout the process. Important details within the application were mishandled, leading to a sub-optimal submission. This created uncertainty and put NGC at risk of missing out on vital government funding, at an important stage of their growth journey. They needed a timely solution to get the process back on track and maintain their upwards trajectory.
Incomplete Application Details
NGC’s in-house RDTI application lacked key details, leading to a sub-optimal submission that jeopardised their ability to secure crucial funding.
Uncertainty in Securing Funding
Due to the application issues, NGC was at risk of missing out on vital government funding, creating uncertainty during a crucial stage of their growth.
Lack of Internal Expertise
Completing the RDTI process in-house proved challenging for NGC, highlighting their need for specialised support to navigate the complex funding landscape effectively.
Why Swell
Barnaby Marshall, one of NGC’s founders, had heard about the value-add created by Swell through his experience with Icehouse Ventures and their portfolio companies. Therefore, when NGC’s RDTI application faced issues, Barnaby turned to Swell, confident in their ability to address the situation. Trusting in Swell’s specialist reputation, NGC engaged them to help resolve the issue.
Impact & Value
Swell’s team quickly addressed the concerns raised by the IRD. Their prompt and effective approach not only resolved the situation but also secured $150,000 in R&D tax credits for NGC. This funding played an important role in allowing NGC to finalise their R&D project and continue their growth curve. With Swell handling the details and complexities of the process, NGC could remain focused on their core business—creating exceptional coffee products.
Secured Critical R&D Funding
Swell's expertise helped NGC resolve their RDTI application issues, securing $150,000 in R&D tax credits, which was essential for advancing their projects.
Simplified Complex Processes
Swell efficiently handled the intricate RDTI process, allowing NGC to focus on their core business and avoid getting bogged down in regulatory challenges.
Enabled Continued Innovation
The secured funding allowed NGC to finalise their R&D projects, driving further innovation and supporting their growth trajectory.
Conclusion
Swell’s support made a significant difference for NGC. By helping to secure the funding, Swell provided the assistance NGC needed to overcome a technical and financial challenge. This case study underscores the importance of having a reliable partner to navigate complex financial and regulatory processes, and Swell delivered the expertise NGC needed.
On Swell's Expertise
"Swell’s team stepped in and made the R&D tax process much easier. They knew exactly what to do and took care of the difficult aspects with the IRD, allowing us to focus on our business. Their expertise was clear—we couldn’t have asked for a better experience!"
On The benefits