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+---- Thread: What does a laboratory do? How does the products here come into the market? (/showthread.php?tid=13)
What does a laboratory do? How does the products here come into the market? - admin - 08-02-2023
This is a question that is often asked by interested parties. Yes, we agree it can be confusing. Usually, people expect an IT company to work on a specific product or service and market that to the world and make money. We are not such a conventional IT company. So what does a "laboratory" do?
Why we call ourselves a laboratory is that we happily experiment with grappling with problems. We do not wait for others to give us a custom software development project (we do that too, but in a very limited manner) Instead we work on several IT products and then we offer those products to others (Indians only) for them to start their own IT startups.
So how does our products reach the market?
We do not believe in vacuous, meaningless mentoring and lecturing about startups on the side to impress young startups*. Instead we like to actually prove that our intellectual properties are really worth the salt. So all our products are actually available for sale too -- just like the way you would get products from IT companies. In that regard, you can look at us as a regular IT company selling products to others. However, in our case, all our products are made available to enterprising youths from India who can convince us that they can run a startup using each of those IT products.
That means, initially you may see a product of ours being sold by us -- but later on you may find the same product (either under the same brand or re-branded) being managed and sold by an entirely different company. At that point in time, our revenues are not directly from that product but we would get royalties from that company that is now managing our product.
*This is a core foundational principle of our company. We are a company that tackles wicked problems so that youngsters can jump-start their companies with the work we have done. We have given a deeper answer about the ills that we found in the startup system in India in a different post in this discussion forum. Look up that answer too.