Periodic Reporting for period 1 - TARASOL (TARASÓL - The pioneering bio-marine liposomal Sunscreen released to the skin upon sunlight exposure)
Reporting period: 2018-02-01 to 2018-05-31
The chemicals present in most sunscreens products such as formaldehyde-based ingredients, parabens, butylated compounds, plastic softeners or phthalates cause undesirable toxic effects in humans and the environment, leading to distressing medical issues like contact urticaria, endocrine disrupting effect, organ toxicity and even cancer. Moreover, despite the systematic use of sunscreen which is vital to prevent the harmful effects of prolonged sunlight exposure, many UV filter molecules still present high toxicity issues themselves. TARAMAR was founded in 2010 with the aim to design, develop and commercialize all natural and 100% chemical-free cosmetic products. With TARASÓL line TARAMAR will deploy to the European market the first all- natural, edible grade, marine-based based organic sunscreen with absolutely no artificial chemicals, effectively filtering UV radiation. TARASÓL is the result of years of basic research and technology transferring efforts that have led to a prototype incorporating three main innovations: a seaweed-based UV-filter with SPF; a liposome-based delivery system equipped with an open mechanism that stabilizes and releases the bioactive UV filter upon sunlight exposure; a fully natural formulation; and finally, a production process that circumvents the use of conventional preservatives and solvents. To assess the technical feasibility, we have established the tasks needed to optimization steps needed to obtain UV-filter extract with a SPF 30 or higher from seaweeds and a stable and sensitive light-activated delivery system. To ensure commercial feasibility, we have conducted an in-depth analysis of our market, including its dynamics, its environment and key players, our end users and customers, and our competitors. We have also conducted an FTO analysis and defined our value proposition. We have also designed a communication strategy. To analyse the financial risks of launching TARASÓL, we have observed different scenarios and ensure financial viability in all of them. We infer that the TARASÓL project is completely viable and feasible.
Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far
The report has guaranteed the viability of the project: 1) Technically, we defined the strategy to optimize TARASOL according to a detailed work plan for Ph2 and a complete evaluation of technical risks. 2) Our commercial plan and a FTO analysis show that there are no IPR barriers for commercialization of TARASOL. Our market analysis has demonstrated that the organic sun care, will show constant growth driven by: the toxic effects of chemical sunscreens; demand for 100% chemical free, environmental friendly, sustainably harvested cosmetics; increased disposable average income EU and globally. We have prepared a detailed exploitation and dissemination plan to deploy TARASÓL in EU & US. 3) We have prepared a financial plan, in which we conclude that by 2025, we will earn almost €53.5M cumulative profit and generate a R.O.I of 15.82 by commercializing TARASÓL .
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)
TARASÓL aims to replace the synthetic and toxic UV filters and absorbing chemicals with safe natural marine based bioactive compounds from seaweed. TARASÓL is a fully traceable product from origin to packaging as every step is carefully supervised by TARAMAR. We replace both chemical and inorganic physical filters and employ food technology and thereby create an edible grade seaweed-based natural sunscreen, suitable for both adults and kids. TARASÓL is environmentally-friendly as it does not incorporate toxic chemicals nor artificially synthesized compounds that accumulate in nature. TARASÓL avoids sea contamination or build-up of non-degradable chemicals, which represent a growing global concern. TARASÓL is expected to be a commercial success with a cumulative profit of €53.55M with an ROI of €15, 81 per euro and increasing the headcount from 6 employees to 25 by 2025. Taking into account the TARAMAR’s financial and human resources we consider that the TARASÓL project is viable and fully feasible technically, commercially and financially.