Yes! Documenting any patents or IP that emerge as a result of your project can serve as strong proof that you’re doing something new and scientific that has been signed off on by an unbiased third party. And the fact that you’ve raised VC funding is also proof that the development project is indeed new technology, since VC firms specifically look for new software or hardware and wouldn’t write a check if you were just recreating an existing product. In fact, any pitch deck that you use to secure venture funding for a research and development project is an excellent source of written documentation for the IRS. Any financial model you include in a deck can also strengthen your proof of a clear plan for the work, indicating what the projected spend will be, over what time period, and when a product will likely be ready to bring to market.