SMark2.0, our next level product authentication, anti-counterfeiting and track and trace system

Project Information

SMark2.0

Grant agreement ID: 878178

DOI

10.3030/878178

Project closed

EC signature date 31 July 2019

Start date 1 August 2019

End date 31 December 2019

Funded under

• INDUSTRIAL LEADERSHIP - Innovation In SMEs

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

SMARK TECHNOLOGY ZARTKORUEN MUKODO RESZVENYTARSASAG
Hungary

Periodic Reporting for period 1 - SMark2.0 (SMark2.0, our next level product authentication, anti-counterfeiting and track and trace system)

Reporting period: 2019-08-01 to 2019-12-31

Summary of the context and overall objectives of the project

SMark2.0 is the connection between nanotechnology and blockchain that allows a brand new, unique and groundbreaking approach to authentication, identification and track-and-trace.
Counterfeiting is causing severe business damages, reducing tax incomes and directly or indirectly affecting the life of EU citizens. Our mission is to offer break through solutions to protect people & businesses through reliable, yet simple ways to authenticate the origin of the goods.
SMark2.0 is a four layer, product identification, authentication, anti-counterfeiting and track-and-trace system with a breakthrough physical part (SMark NanoLabel manufactured using our Integrated Customisation System) and a highly disruptive and decentralised secure network (Blockchain Framework) that is able to give a complete solution in B2B, B2C and B2G (B2ALL) relevance. Furthermore, SMark2.0 has an innovative business model, which is able to minimise the system installation costs, gives the opportunity for SMEs to use our scalable system as well.
The main target of the SMark2.0 project is to turn pilot system into a commercial product with scalable production and business methods.
According to our business projection we will break even 2 years after commercialisation and realise a substantial Return on Investment (RoI) by the 3rd year.

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 the Phase 1 project we carried out an extended feasibility study consisting of market assessment, business model validation, risk and IP strategy assessment, up-date and advancement of the business plan, and pilot location selection to support the commercialisation of our technology.

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)

The project has made progress in the following areas:
• We have carried out a comprehensive assessment of our potential European and global markets.
• We validated our business models and product specification with relevant stakeholders.
• We determined pilot locations for the Phase 2 project and engaged relevant partners.
• We carried out a complete risk analysis, contingency planning, and revised our IPR strategy
• We updated our strategic business plan

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