SeafoodTrace: Intelligent Traceability Platform enabling full transparency in the Seafood supply chain

Project Information

SeafoodTrace

Grant agreement ID: 816070

DOI

10.3030/816070

Project closed

EC signature date 30 April 2018

Start date 1 May 2018

End date 31 August 2018

Funded under

• INDUSTRIAL LEADERSHIP - Innovation In SMEs

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

SKYNJAR TECHNOLOGIES EHF
Iceland

Periodic Reporting for period 1 - SeafoodTrace (SeafoodTrace: Intelligent Traceability Platform enabling full transparency in the Seafood supply chain)

Reporting period: 2018-05-01 to 2018-08-31

Summary of the context and overall objectives of the project

We validated the technical, the commercial and the financial feasibility of our innovation project and established the plan for a global commercialization.
We analyzed that a partnership with Marel between Phase 1 and Phase 2 will allow us to improve the design of our breakthrough innovation to offer to the whole seafood supply chain a key solution on the market to empower the customer and restore trust between the supply chain stakeholders.
We analyzed our target markets and identified key market drivers that will fuel the adoption of our solution. To speed-up post-project sales, we fine-tuned our commercialization strategy and established agreements and plans with carefully thought partners (Institutes, key players of the seafood sector: processing companies, retailers…).

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

Technically, we established our technical roadmap to improve the prototype with Marel, the seafood processor leader on the market, for the implementation of the best features to truly and efficiently ensure the traceability of the seafood sector. Our market research aimed to analyze the seafood supply chain and the needs of our target customers.
We studied our competition landscape and our freedom to operate analysis validated that our technology does not infringe any existing patent.
We shaped our partnership strategy and our commercialization strategy and projected sales revenues from 2021 to the end of 2025.

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)

Skynjar will introduce a technology that will provide accurate shelf-life and quality control through product temperature monitoring, 12-15% global savings, reducing logistics, rejections, transportation and management costs and it can contribute to the 90% reduction on claims costs arising from potential labelling failures. It could also reduce between the 20% and 40% of the seafood waste. The project will also enable our company to grow, both financially- achieving cumulative revenues of approx. €21.45M and profits of €17.9M in 2025- and in personnel- we will hire 38 more people.

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