VALUMICS granted €6m funding boost

VALUMICS granted €6m funding boost

An Iceland-led international food sustainability project involving academics from Newcastle University, UK, has received a €6m funding boost.

Launching in April 2018, the VALUMICS project will see 19 partners from Europe, China and Vietnam work collaboratively to establish a current climate of food value chains, examining the profitability within such, and provide recommendations on how to improve the process.

Professor of Marketing at Newcastle University, Matthew Gorton, said: “VALUMICS is in the early stages but we’re thrilled to have secured funding from Horizon 2020 – the largest ever EU research and innovation programme.”

The Iceland-led project consists of both academic and non-academic partners from 14 countries and will deliver comparative assessments at a European level, and beyond, through whole chain analysis.

Involving a number of academics from Newcastle University Business School, one of only two UK partners working on the project who will receive £225,000 (~€255,000) of the funding, the research will be performed over four years and will look to develop frameworks which will measure sustainability.

Gorton added: “The main concerns around food value chains come in the form of issues around fairness, and this project will aim to analyse profitability from production to transport to retail.

“Over the next four years we hope to gain in-depth knowledge of every element of the food journey, eventually producing recommendations which will help improve and shape the industry.”