BIOsens

Project "BIOsens" data sheet

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 Project objective

Every year, companies involved in agriculture businesses experience significant financial losses because of mycotoxins – invisible and dangerous for human health foodborne toxins, which contaminates 25% of the global supply. Farmers, grain elevator owners, and food processing companies suffer the most from this issue and crave for the solution that will allow them easily, swiftly and accurately detect mycotoxins on-site. Timely detection of mycotoxins will prevent them from unsuccessful trade or border rejections, and will lead to revenue increase. BIOsens provides cutting-edge solution that successfully tackles the problem of agriculture companies by creating an easy-to-use portable device for mycotoxin analysis. The mycotoxins testing market is expected to grow to USD 1.75 billion in 2023, and BIOsens is the first solution on the market which combines the accuracy of laboratory testing and the speed of onsite devices. BIOsens team comprises of experts in Biochemistry, Biotechnology, IT and Business which ensure the high quality of the developed solution and successful market entry. According to Financial Times, company’s CEO Andrii Karpiuk is one of 100 eastern Europe’s emerging technology stars and the team has already won numerous start-up competitions, including Intercontinental Startup Battle in San-Francisco. BIOsens aims for global commercialization to ensure that people all over the world consume safe food. SME Instrument Phase 1 funding will enable the company to validate customer needs, conduct thorough analysis of target markets and validate priority countries for market entry, research regulatory requirement and develop an IRP strategy, validate business model and as a result create an elaborated business plan for the successful commercialization of the device.