Explore the words cloud of the QuidProQuo project. It provides you a very rough idea of what is the project "QuidProQuo" about.
The following table provides information about the project.
|Coordinator Country||Ireland [IE]|
|Total cost||71˙429 €|
|EC max contribution||50˙000 € (70%)|
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)
|Duration (year-month-day)||from 2018-12-01 to 2019-05-31|
Take a look of project's partnership.
|1||QPQ LIMITED||IE (LEIXLIP KILDARE)||coordinator||50˙000.00|
QuidProQuo is an ecosystem of intelligent, integrated platforms and services that enable true digitalisation of the trade value chain. We are starting with trade settlements, payments and finance. QuidProQuo removes all low-value transactional administration from the trade value chain for any enterprise. This can save up to 12% of their revenue. It also provides trade finance for SMEs. The trade finance market is worth $9t annually, however there is an unmet demand of $1.6t. We have completed over 60 customer discoveries with enterprises of various sizes and industries. These demonstrated a clear demand for QuidProQuo. We are now working towards identifying pilot customers. QuidProQuo will be sold to enterprises involved in trade settlements and finance, and other stakeholders. We will charge a 1% commission to trading enterprise on the value of payments. Our first commercial targets will be trading firms in the EU and the US where we currently have a presence We have a world-class team drawn from banking, law, technology, and business management, so are uniquely positioned to deliver our vision. Key partnerships secured: Launchbadge for with turn-key development capacity for our distributed ledger technology. Projected sale volume in 3 years: €600m cumulative gross profit 3 years following commercialisation. ROI: 120x the investment of €5m needed to reach commercialisation.
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The information about "QUIDPROQUO" are provided by the European Opendata Portal: CORDIS opendata.
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