Grants and participation in science projects have opened up an entirely new global niche for Testonica Lab OÜ – a company that deals with system analysis and custom software development.
According to Artur Jutman, one of the founders of Testonica Lab, the company’s advantages over competitors are its high automation level and flexibility. These properties make it easier to sell licences to leading electronics companies, starting with consumer electronics manufacturers and ending with telecommunication firms, airplane, army and car industries. “Even the leading manufacturers of traditional testing and measuring equipment use our instruments to test their products,” he added.
Testonica Lab OÜ successfully pulled through the economic crisis. According to Jutman, a start-up entrepreneur has two ways of overcoming a lack of financial means: either find investors or apply for a grant. “The latter is less risky as it does not require excessive adaptation of your plans with the expectations of investors,” says Jutman. “Fortunately, research intensive companies have a favourable environment for receiving grants in Estonia.”
The idea for the product was conceived in 2009 when Testonica was a young company still lacking its own niche product. Back then the business direction of Testonica was providing services; however, the company was strategically focused on product development by searching for a better application and service for the team.
The grants are financed by the European Regional Development Fund.