Needs of Global Start-up companies (Deliverable 2) GlobalStart wp1 Studies Deliverable 2 Needs of Global Start-up Companies Table of contents p
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References: Company’s homepage. 1. Profile and background Estla Ltd. established in 1988 on private capital by a group of scientists at the Institute of Physics of the Estonian Academy of Sciences. The scientists used the first possible opportunity to found a company; before that year the establishment of a private company was not legally possible. The company has quickly become one of the leading companies in the Baltic region in the field of laser technology. The company develops and produces accessories for lasers, lasers of different types and laser based instruments for science, medical applications, entertainment and electronic industry. From the beginning there were three persons who were founders: Dr. Evgeny Berik who was earlier invited to Estonia from the Institute of Spectroscopy at the Moscow university, and additional two laboratory researchers. The main reasons for establishing the company were the need for self-realisation as well as a favourable market for laser products in the Former Soviet Union. From the establishment until 1991 the market for the company products and services was in the former Soviet Union. That market was protected from the foreign competition and the products were patented (approximately 10) for that market. After the collapse of the Soviet Union, the company switched over from serving customers in CIS to customers in Estonia and Western countries. During these changes Dr. Berik was a person to look for and attract new customers. Among other countries he visited potential customers in Scandinavia, Germany and Benelux. Estonian market was growing as well in the first years of independence, where the customers were both universities/colleges and private enterprises. Company is a leading provider in the laser components and other laser based products including laser shows. Currently, the largest customer is a German company, which stands for approximately 60% of turnover. This German company resells the Estla’s products (brand Estla is not in use) to a large US customer and some final customers in Europe: Estla does the R&D, design and production. The German company packages and distributes the products using its selling network. Another 20-25% of the Estla’s market consists of Estonian customers, and the remaining 15-20% of customers are individual clients who find the products through the company web page. Estla was and is financing itself through the equity from the owners, undistributed returns, and smaller amount of grants approximately 50 000 Euro from the European Union, and approximately 25 000 Euro from Estonian Innovation Fund. Until now, the revenue growth has been between 10-20%, with a turnover of approximately 1 million Euros. The company seeks to have sufficient cash in order to be able to cover “unexpected” expenses, as it is not taking external loans. Currently, there are 15 employees in the company: 3 owners who form the management team, (1 cofounder has left the company about 10 years ago), and 12 others who are mainly technicians and administrative personnel. There is a problem of retaining skilled employees within the company, because higher salaries available in Europe attract highly competent scientists to leave the company in Estonia. Estla's local and international cooperation network includes universities (mainly the University of Tartu), research institutes, technology centres, large and small enterprises, venture capital and technology transfer companies. The close partnership was developed with Asper Biotech Ltd in Estonia: Estla is responsible for design and manufacturing of hardware for Asper Biotech final products.
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