Engineering
Engineering is all about solving technical problems and developing new and improved ways to apply technology, resulting in the continuous demand for R&D.
Engineering covers a broad spectrum of industries, including everything from manufacturing to construction, where R&D is used to achieve state-of-the-art advancements.
As both technology and standards progress at an ever-increasing rate, companies are required to enhance their technical knowledge in order to meet the demands of increasingly challenging projects, products and client requirements.
How do I qualify?
Engineering is one of the industries which often overlooks R&D activities as they are often considered to be typical challenges in their office or field. However, any activity that demonstrates a quantifiable improvement in the technical capability of a product, system, process or solution is considered to be R&D, including:
- Creating a new material improving heat-resistance;
- Enhancing product durability by utilising new manufacturing technology; or,
- Building with novel materials or techniques to achieve improved energy performance and build efficiency.
What's a typical claim size?
As the engineering industry is so broad, it is difficult to estimate the potential benefit received from a claim. The more challenging and complex it is to reach the project goals due to technical challenges, the more time-cost can be included in the claim under the scheme. Engineering companies can also claim costs associated with wasted materials and prototype manufacturing which can add a significant amount to the final benefit.
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