AdvanGrid grew its export capacity at trade missions and expos
AdvanGrid is a Latvian tech company that develops smart monitoring solutions for industrial clients allowing for the digitisation and real-time monitoring of consumption of electricity and other resources, manufacturing processes and operation of equipment. The company operates both in the Latvian market and in export, serving more than 130 customers in the Baltics and elsewhere in Europe, as well as in the Middle East.
AdvanGrid took a significant step in its development last year by using the support of the Investment and Development Agency of Latvia (LIAA) for digitalisation. With the help of state support instruments, the company abandoned external software maintenance services and switched completely to its own IT infrastructure, creating an internal IT team and ensuring a stable foundation for further product development.
“Our turnover is not large enough to make such capital investments without support. LIAA funding was crucial, as the costs of server infrastructure are significant,” emphasizes Oskars Gūtmanis, CEO of AdvanGrid.
LIAA has played an equally important role in the development of the company’s exports. For the past seven years, AdvanGrid has been an active participant in trade missions and exhibitions organised by LIAA, which significantly reduces the burden of launching exports for a smaller company. As the company’s CEO explains, these missions not only partially cover costs, but also provide pre-selected meetings with potential customers and partners, as well as the opportunity to establish contacts with other Latvian companies.
“A very large part of our export projects are the direct result of trade missions. When travelling abroad, companies can expect a prepared and tailored programme, meetings with potential partners, and the added benefit of networking with other participants – Latvian companies that may be interested in cooperation. This is one of the most valuable opportunities that we recommend taking advantage of,”Mr Gūtmanis adds.
AdvanGrid itself had no difficulty applying for LIAA support instruments. “Many of our customers have implemented our solutions as part of digitisation and support programmes, and we helped them prepare their applications. So, it was no big deal for us,” says Mr Gūtmanis. He also emphasises that companies should not be afraid to apply for support – the process is understandable and user-friendly, and any complications can be easily overcome, for example, by engaging an external consultant. “The main thing is to take advantage of the opportunities available and develop your business,” he urges.
Information material prepared with the support of the Recovery Fund. The author is solely responsible for the content of this publication. The views expressed herein do not reflect the official position of the European Union or the European Commission.
