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DNA-Authenticity & Traceability for Extra Virgin Olive Oil: Τrust the DNA, the label.

Project description

DNA-based tool for authentic extra virgin olive oil

The high demand for olive oil and the industrialisation of the product caused fragmented visibility of the associated producers and retailers. This has left space for fraudulent activities for illicit profit, particularly in the domain of extra virgin olive oil (EVOO). Furthermore, fraudulent practices represent a threat to consumers' health and oil quality. The EU-funded AUTHEVOO project proposes an inclusive DNA-based system that identifies in real time the quality and origins of EVOO. The system consists of a portable tool that combines DNA traceability with DNA authenticity to provide transparency and trust in the market. The project will conduct a feasibility study aiming to validate the product and the business plan and prepare the portable tool for commercialisation.

Objective

Globalization and internationalization of Olive oil industry increased supply chain complexity that led to a fragmented visibility of the involved actors, enabling fraudulent practices for illegitimate profit. In this context, particularly extra virgin olive oil (EVOO), due to its high price coupled with its health benefits and its increasing demand in cosmetic/pharmaceutical sectors became an ideal target for frauds. EVOO traceability is considered a central issue for the identification of improper actions along the olive oil supply chain, to protect its quality and consumers’ health.

The aim of AUTHEVOO is to disrupt the EVOO supply chain by providing an end-to-end DNA-based system offering transparency and trust among its actors. To achieve this AUTHEVOO integrates EVOO DNA authenticity and DNA traceability in a real-time portable PCR device capable to identify the varieties in EVOO and its origin. Our current forecasts and analysis show that AUTHEVOO has the ability to generate revenues of ~10M€, with a ROI of 36.30 and to create at least 31 high-educated new jobs by 2023, revealing a high business potential.

This project aims to perform a 6-month feasibility study following the TELOS concept (technical, economic, legal, operations and schedule), in order to extensively validate the AUTHEVOO Minimum Viable Product (MVP) and business plan, leading to the creation of a viable commercial strategy that will enable the full exploitation of its market potential.

Call for proposal

H2020-EIC-SMEInst-2018-2020

See other projects for this call

Sub call

H2020-SMEInst-2018-2020-1

Coordinator

BIOCOS IKE
Net EU contribution
€ 50 000,00
Address
BONIALI 11 19
731 00 CHANIA
Greece

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SME

The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Yes
Region
Νησιά Αιγαίου Κρήτη Χανιά
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Links
Total cost
€ 71 429,00