AUTHEVOO SIGNED

Project "AUTHEVOO" data sheet

The following table provides information about the project.

 Partnership

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 Project 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.