LESTO PRODUCT Ltd. is a beneficiary under Administrative Contract for the provision of grant aid No BG16RFPR001-1.001-0042-C01 “Development of a software platform to improve the efficiency of machine manufacturing at LESTO PRODUCT Ltd.” dated 28 February 2025 under the “Competitiveness and Innovation in Enterprises” Program 2021-2027, procedure through selection of project proposals No. BG16RFPR001-1.001 “Development of innovations in enterprises”.
The total eligible costs of the project (remuneration costs) amount to BGN 1,014,940.00, with the maximum amount of non-repayable financial assistance equal to 49.25% of the total eligible costs of the project: BGN 499,857.95, of which BGN 424,879.26 is EU funding.
The project start date is February 28, 2025, with a completion date of August 28, 2026.
The project supports the development of innovative software, a combination of a new product and process that the beneficiary plans to introduce into its core business as a process and subsequently provide as a product to other industrial manufacturers. The essence of the innovative software is to provide a combination of functionalities based on LEAN tools and techniques and the just-in-time approach, through which the process of improving the efficiency of machine manufacturing is continuously implemented. Through real-time innovation, all stakeholders in the enterprise will have the opportunity to take action to solve and prevent technological problems and reorganize the technological process in order to achieve maximum production efficiency with minimum resources and prepare for the implementation of Industry 4.0 principles.
The innovation is a novelty both for LESTO PRODUCT Ltd. and for the global market of software products, including cloud-based ones, designed to achieve maximum efficiency of the technological process through continuous improvement of the organization, management, and actual implementation of work processes at the individual stages of production and their interconnection.
The specific objectives of the project are:
- Within one year of introducing the innovative software into the company’s operations, the following should be achieved:
– reorganization of the technological process, ensuring maximum efficient use of available production equipment;
– improved interaction and communication between teams at various levels of the hierarchy in order to prevent production problems and continuously optimize the production process;
– increased labor efficiency;
– organizational and technological transformation of production in physical terms as a prerequisite for digitization and digital transformation and the introduction of Industry 4.0 concepts and technologies.
- Increasing the beneficiary’s innovation capacity by developing an innovation that has a direct impact on its overall core economic activity;
- Improving the beneficiary’s competitiveness by increasing their development activity;
- Achieving sustainable development for the beneficiary based on innovations in digital technologies;
- Ensuring the beneficiary’s competitive advantage based on maximum efficiency in production processes and resource use.
The development will start at TRL 2 – Formulated Technology Concept and will reach TRL 6 – Technology Demonstrated in a Relevant Environment. The development process will be carried out by a team of the beneficiary, without the use of external services. All planned activities fall within the field of Experimental Development.
The implementation of the project leads to the development of innovation in the thematic area of ISIS 2021-2027 ‘Mechatronics and Microelectronics’, sub-area ‘Engineering, re-engineering and life cycle extension of industrial machines, devices and systems based on the Industry 4.0 platform and digitalization and digital transformation of industrial production’.
The project is in line with the horizontal principles set out in Article 9 of Regulation (EU) 2021/1060 of the European Parliament and of the Council, as well as with the principle of ‘no significant harm’.
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“This publication was created with the financial support of the Competitiveness and Innovation in Enterprises Programme 2021-2027, co-funded by the European Union through the European Regional Development Fund. LESTO PRODUCT Ltd. is solely responsible for the content of this publication and under no circumstances can it be assumed that this publication reflects the official position of the European Union and the Managing Authority.”
