OREANDA-NEWS. April 23, 2013. Tallinn University of Technology (TTU) allocated Prototron, the funder of the creation of prototypes, extra 180,000 euros aimed at the development and launching of prototypes created on the basis of the university’s industrial property. The sum will be divided between three years: 80,000 euros for this year, 50,000 for 2014 and 50,000 for 2015.

“Prototron is becoming a centre that collects information about all possible new ideas, expertise in the business models related to prototypes and partially also financial channels. This kind of approach and cooperation adds possibilities for implementing ideas and starting successful businesses,” explained Tea Varrak, Director of the Innovation and Business Centre of TTU.

Prototron received 57 smart ideas in its third round of applications, out of which the expert committee selected two ideas that receive financing. The committee allocated 7,000 euros for the High-Mobility team for creating entertainment, navigation and electronics management system for luxury cards that will be replacing today's boring LCD screens. The team has proven its capabilities with the car manufacturers Saab and Volvo and is negotiating with several other car manufacturers regarding the implementation of the first prototype, including Koenigsegg.

The Language Accelerator team will receive 9,900 euros for the development of its prototype. Their idea is to create a program that teaches a foreign language to any learner with 200 hours. The language study programme based on statistical analysis created by top engineers, proceeds from the learner’s knowledge, capability and difficulty of the language acquired in order to create an ideal studying pace and capacity.

Robert Kitt, Head of Corporate Banking at Swedbank noted that there were many high-minded ideas in the last round of applications, but the projects that were selected had most potential for business as well as social benefits. “Language Accelerator has a truly interdisciplinary project – this is exactly the approach we are looking for.”

The panel of expert of Prototron had some new members too: Almar Proos from the non-profit organisation Estonian Business Angels Network or EstBAN, which unites private investors was evaluating the last ideas.

Protorton has received 211 ideas in three rounds of applications, seven of which have received financing in order to make the ideas come to life.

The experts who evaluate the applications are Priit Alamae (Nortal), Pirko Konsa (Tehnopol), Robert Kitt (Swedbank), Yrjo Ojasaar (Publification.com), Andrus Oks (Estonian Development Fund), Jaanus Tamm (Defendec), Siemon Smid (Tallinn University of Technology) and Almar Proos (EstBAN).

In evaluating the ideas that have been submitted and deciding which ones to support, the panel are guided by the business potential of the prototypes, how innovative they are and the teams that will put them together. There are no maximum limits on the amounts able to be granted. If approved, the prototype receives financing and is built in accordance with the creators’ designs.

The next deadline of applications is 15 October 2013. Prototron aims to give real form to innovative ideas. It was established by Swedbank, Tehnopol Science Park and Tallinn University of Technology. Over the next three years new smart ideas will be financed to a total value of 120,000 euros, plus 180,000 euros. www.prototron.ee