21st of April

How to convert an expensive hobby into a full-fledged business?

2017-10-26 10:53 Share:

Lithuanian Innovation Centre has contributed to local business company winning a H2020 (SME Instrument) grant for feasibility study aimed at spectrophotometric crop diagnostics device (Spectrophotometer). The project seeks to introduce novel patented crop monitoring and diagnosing device into the global market. The main novel feature of the spectrophotometer is the capability to sense deficiency of 12 micro- and macro elements, while other existing technologies can sense nitrogen content only. ‘The company really has to be proud of winning this grant, because Horizon 2020 program competition for SMEs is very high, and usually only 1 idea out of 20 is funded’, says Arunas Berzinskas, the Lithuanian Innovation Center expert who has assisted the company in winning the grant. The company is also happy about the outcome of this cooperation. “The funding attracted will help converting a quite expensive hobby into a full-fledged business’, Ernestas Ichtiandras Petrauskas, the CEO of Žemdirbių konsultacijos, the company that won the grant, says.

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