Periodic Reporting for period 1 - BIOAGRIBOOSTER (Agrobiological products for crop production improvement: a novel approach towards a sustainable agriculture)
Reporting period: 2015-10-01 to 2016-02-29
We are Iden Biotechnology S.L. a private agrobiotech company founded in 2005 with the mission to serve the needs of the agri-food industry. We have developed BioAgriBooster a novel biostimulant product that allows increasing plant productivity by 20-25% but without the need for continuous application and with negligible residues or detrimental effects in the soil in the long term. The overall project objective is to scale up and certify our product according to EU regulation and position it in the market to be a leading biostimulant product offering a long-term sustainable alternative to the use of agrochemicals.
Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far
During this 5-months feasibility study we have clarified the tasks needed and the overall costs of scaling up our product. We have also clarified the registration process needed to sell our product in the EU. We have also carried out a market study for our product and defined a new commercialization strategy. We have updated our financial projection that clearly show that BioAgriBooster represents a highly interesting market opportunity
Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)
With this feasibility study we demonstrated that BioAgriBooster represents a viable alternative for European agriculture. It provides a cost-effective solution to the highly problematic synthetic fertilisers. AgriBioBooster will decrease the use of fertilisers while improving crop yields contributing to improve production profitability and food security.