The following Best Practice was selected by the Greek SEE Net Partner as an example of a successful entrepreneurial approach. The company selected, “VI.EL.THA.” is an example of a company that has managed to successfully incorporate EU funding into its long term business plan. It is a good example of a company that abides by the EU body of law and the Aquis in general. Also, it is an excellent example of a company that has contributed to the economic development of the agricultural town where it is located. During the SEE Net Study Visit organized in Greece, this company was visited.

The Chamber of Kavala was contacted by this start-up entrepreneur in 1998. Specifically, Dr. Argyrios Tyrologos was Director of Cardiology in the Hospital of Kavala at the time and was looking to establish a new company in a remote town on the Aegean Island of Thassos that would promote the development of the area, employ persons, act as an educational and tourism promotion center, be friendly to the environment and, on a personal level, would provide for occupation for himself in his retirement and an investment for his children. Taking advantage of the olive groves in Thassos and taking into consideration the health qualities of olive oil, Dr. Tyrologos chose to produce organic olive oil, naming the product "Cardiofilo" (a friend to the heart). His total vision in 1998 was to create a manufacturing plant that would use all new and innovative technology, to create an olive and olive oil museum and a visitor center with multimedia tools for educational and training purposes and beyond olive oil, to manufacture other products related to olives such as edible olives of a special variety available only in Thassos (Throuba), olive paste, soap, etc. His reason for contacting the Chamber was to receive information on the legal environment for organic products, to enquire about sources of funding and to learn about enterprise promotion tools available to him after the company would be created.

Our Chamber provided full service support for this enterprise from the first initial steps for enterprise creation in 1998 (start-up support) to advising during all development phases on sources of funding and information on business cooperation and product promotion tools. We provided the enterprise with all legislation on organic food products (although there was no legal framework at the time, we followed up with them when a framework was in place), marketing studies on organic products, information on exhibitions abroad, etc. We advised the company on funding opportunities. In fact, the company was partially financed by the Greek Development Law, the Olive Museum was partially financed by Leader +, the company incorporated the results of "ImproLive" (an industrial research project) in their production techniques and participated in its own research project under "PAVE-Net" (a national R & D Progarmme) for creating composts out of industrial waste. In terms of Business Cooperation, the Company participates in all of the initiatives of our Chamber, including participation in food exhibitions throughout the years (SIAL in Paris, ANUGA in Cologne, ALIMENTARIA in Barcelona, IFE in London, Fancy Food in New York, etc.), participation in an EIC Border Project for food technology and their company profile has been entered in the BCD database. Also, with our assistance, they have a project of their own with funding from the Hellenic Export Promotion Agency promoting agricultural products.

The benefits for the individual company and also for the development of the area are great. Although this is a relatively new and family run company, they employ about 10 persons (full-time and seasonally), they buy organically grown olives from producers in the area and the museum is visited by schools in the winter and tourists in the summer. Their market is mainly regional, but they have also already taken advantage of the Internal Market selling to France anf Germany. Their products were enthusiastically accepten in Tokyo and the company projects that in the next few years the products will be available in the U.S. and Canada. Also, the company serves as a bright example to other entrepreneurs of how a company can benefit from EU funded programmes and services.

Visit the company's web sites www.vieltha.com and www.vieltha.net to learn more about the company and the health benefits of olive oil.