Hungarian startup LabShare offers the online marketplace for lab testing capacity

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LabShare provides an online marketplace platform that aims to boost the international collaboration of laboratories, manufacturers and engineering centers with a focus on the mobility industry: automotive, aerospace, rail industry.

The 5th MVM Edison startup competition, hosted by the energy giant MVM and their incubator house, Smart Future Lab, introduced a number of revolutionary concepts which contribute to a sustainable future. The winners, who all presented “green” and environmentally friendly ideas, are also eligible for a capital seed investment of up to €143K.

The year 2021 saw a record number of applicants try their luck at MVM Edison’s startup competition: more than 260 teams have applied with innovative ideas, however, only the 8 best have made it to the finals on the 27th of May.

The Startup category saw three winners selected with various concepts, while the ScaleUp category offered an opportunity for an already thriving, new business to introduce itself.

According to Zsolt Bertalan, head of the professional jury, the major principle of the competition was sustainability, given that an ever-growing segment of the population aims to create a greener, cleaner and more livable environment.

Such an initiative was presented by the gold medal-winner of the Startup category, EthiCoin, a company that rewards people for cycling and walking. 

The platform that connects developers with laboratories

The winner of the ScaleUp category this year was LabShare, an innovative B2B marketplace that connects accredited testing laboratories with product developers requiring validation tests – a platform through which both parties can save plenty of time, money and environmental costs.

We launched our service at the end of last year, so it’s still a fresh concept

explains Levente Bakos, the CEO of LabShare who was joined by his colleagues David Gyenes and Agoston Loth in a video call at the award
Hungarian startup LabShare
Hungarian startup LabShare

According to Bakos, LabShare’s online marketplace is similar to those of accommodation booking sites – except that here, giant manufacturers are matched with accredited laboratories who carry out the required validation tests, particularly in the field of consumer electronics and the automotive industry.

Before introducing certain products to the market, be they phones, hairdryers, the appliances of self-driving cars or any other equipment, we need to assure they comply with the applicable laws and quality standards relating to a particular region

says the CEO, adding that for developers, it’s often an uphill struggle to find a laboratory with the right qualifications and capacities

Certain pieces might only be tested if flown across continents, which might present significant extra costs – in the automotive industry, for instance, these can go as high as 1 billion Euro. At other times, labs are overbooked and the launch of certain products might suffer a delay, while other labs’ capacities remain unused, a significant waste from an environmental point of view.

LabShare offers a practical, green and innovative solution, allowing developers to pick and choose between labs according to their own preferences. Thus, costs can be cut, and the optimal use of capacities can reduce the carbon footprint of companies.

LabShare’s “one-stop-shop” concept makes Google searches unnecessary since all the required information is stored in one place, making it easy for developers to compare, select and contact labs on the very same platform. Labs, on the other hand, become easier to find and gain more clients. It’s a win-win situation

Bakos concludes