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Prognolite

The first holistic restaurant forecasting tool to reduce food waste by predicting future demand

Total Cost €

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EC-Contrib. €

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Partnership

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Project "Prognolite" data sheet

The following table provides information about the project.

Coordinator
PROGNOLITE GmbH 

Organization address
address: BRANDGRUBENSTRASSE 3
city: USTER
postcode: 8610
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Switzerland [CH]
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.3. (PRIORITY 'Societal challenges)
2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs)
3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
 Code Call H2020-SMEInst-2018-2020-1
 Funding Scheme SME-1
 Starting year 2019
 Duration (year-month-day) from 2019-05-01   to  2019-08-31

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    PROGNOLITE GmbH CH (USTER) coordinator 50˙000.00

Map

 Project objective

Prognolite GmbH is a Swiss SME that is using artificial intelligence to combat the €20 billion food waste crisis within the restaurant sector. Through Prognolite software, restaurants can reduce food waste by up to 50% by accurately predicting food demand. The software has already caught the eye of six renowned Swiss and German multi-unit restaurants (including an international chain), testing it in 12 of their restaurants, reporting reduced food costs by up to 6%, and staff costs by 5-15%.

10.5 million tonnes of edible food is wasted each year by EU restaurants, primarily due to the difficulty of estimating the exact food demand. This complexity of accurately forecasting sales is causing restaurants to (i) dispose to waste over 10% of the purchased food and (ii) reduce efficiency of staff planning, resulting in poor customer service and unnecessary high staff costs. Traditional methods of demand forecasting of manually analysing historical data are inaccurate, highly dependent on staff experience and time consuming. The few digital solutions that exist fail to, within one software, optimise the two cost centres (food and wages) that gobble 80% of restaurateurs’ costs and often unaffordable to many. Moreover, most of these solutions are designed by Point-of-Sale (POS) systems providers and are only compatible with their own POS who cannot scale in an EU and global market where there are numerous POS systems.

As such, we have a unique advantage within the burgeoning €2.64tn global restaurant/food service market that has >2.5mn restaurants (EU & US only). With a product that enables restaurants to save, within a month, up to 8x what they would have paid us and widest POS compatibility (>80% of EU & US), we seek to be the global leader in demand forecasting solutions for the restaurant sector. We have estimated that we will need an additional investment of €1.3 million to achieve that and bring our product to the market.

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The information about "PROGNOLITE" are provided by the European Opendata Portal: CORDIS opendata.

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