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Andrew makes R&D a Synnch

November 27, 2019

A Gold Coast tech firm which aims to take the hassle out of applying for research and development tax credits is going global, and pitching its services to foreign governments.

Synnch was launched in 2018, providing a cloud-based platform designed to simplify the process of lodging R&D tax credit claims.

Synnch director Andrew Antonopoulos, a graduate of Bond University, said after having success with the claimant market, Synnch was now looking to expand.

“The claimant market has gone extremely well for us across Australia, and we’re now looking at the consultant market and saying we don’t want to just look after our clients, we want other, larger, mid-tier firms looking after their clients with Synnch as well.

“That’s our platform and our springboard to go to government.

“We’re going to New Zealand, we’re pitching into the New Zealand government to manage their program, we’re going to be pitching into the Norwegian government to manage their program, and we’re going to be pitching into the Canadian government to manage their program.”

Mr Antonopoulos said following discussions with the New Zealand government, he was hopeful of having the Synnch platform embedded as part of its R&D tax claims system by the end of next year, if not sooner.

All going to plan, Norway would follow a few months afterwards, while Synnch had already begun the process of looking what adaptations would be needed for their system to work in Canada.

Including the company’s existing base in Australia, Mr Antonopoulos was confident that expanding into the three foreign countries would provide Synnch with a strong base to continue to expand worldwide.    

“I figure if we get those four jurisdictions, we’ve pretty much got a model that will fit most of the other R&D tax incentives globally. I think there’s about 11 of them now.”

Synnch presented alongside other Queensland startups at Gold Coast Demo Day 2019, held at Bond University on November 26.

Mr Antonopoulos said events like the Demo Day provided a valuable opportunity for early-stage start-ups to receive feedback and constructive criticism of their business plans.

‘The ability for these start-ups and entrepreneurs to get up and communicate their ideas to an audience that’s willing to present some constructive feedback, criticisms and even rejection…things like Demo Day force you to refine what it is you’re offering, why you’re offering it and where you’re offering it.

“I absolutely think the younger start-ups need that opportunity to be challenged, because you can get so blinkered and pigeonholed into your thought process.”