European Union (EU) has spend in 2012 on agriculture 43.6billion EUR (up 2.6 % compared to 2011) which is almost half of its total budget. This includes verification that food production is in accordance with numerous protocols defined by food safety bodies like European and Mediterranean Plant Protection Organization (EPPO) and European Phytosanitary Research Coordination (EUPHRESCO). End-to-end verification may include phytosanitary inspectors who on fields take soil/plant samples, authorized phyto-laboratories which analyze them, and accountants which handle payment of services. Currently these procedures involve a lot of inefficient manual, error-prone administrative paperwork. The company is developing a system that will apply ICT, big data, and cloud computing to facilitate end-to-end processing of food safety and agricultural protocols defined by EPPO, EUPHRESCO, and other relevant EU bodies. The system will collect data in a centralized way while allowing all participants to access relevant information and global analysis of vast amount of data collected over long period of time, thus allowing for example tracking spread of diseases.
The food and Agriculture Cloud Technology (FACT) is a high-tech company whose principals jointly combine a unique skill set and proven track record in the areas of agriculture, ICT, and business development necessary to tap into multi-disciplinary niche market of ICT support of EU food and agriculture safety protocols. The diverse skill set means that we know what to deliver and how to do it. Broad practical and theoretical experience that will enable principals to build a successful company from ground up includes hands-on experience in the field and in the laboratory on the agricultural side, rapid software development in start-ups with tight resources on the ICT side, as well as broad experience in banking/financing/marketing on the business development side.
The company is conveniently located in Belgrade, Serbia, with an excellent university as the source of talented junior staff for a high-tech company. Low cost of labor and corporate tax among lowest in Europe (10%) insure low operating cost while EU as the target market insures high margin and profitability.