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Content archived on 2023-11-13

Digipay4Growth: Governments, SMEs and consumers make expenditures through a digital payment system that stimulates economic growth and job creation by increasing sales and access to credits for SMEs

Project description


Open objective for innovation

The DigiPay4Growth project applies an innovative Digital Payment System (DPS), Cyclos, to showcase a solution for economies facing the detrimental effects of the Eurozone crisis. The innovation focuses on increasing the availability of money and the way that it organizes growth in local economies so that the multiplier effect is increased. The general objective of the project is to demonstrate the use of Cyclos in 3 pilot projects (Catalonia, Sardinia and Bristol) in 3 different project environments in the European market. The pilots illustrate the various possibilities of Cyclos for a) conditioning the flows of purchasing power to increase the multiplier effect and thereby creating income and more jobs and b) creating an innovative credit guarantee fund for mutual credit to SMEs.The project strategy makes use of a structure where 9 pilot partners test the application. Knowledge on the applicability, preconditions, best practices etc. is created and documented through an interlinked process of M&E and Knowledge sharing. The pilots and learning process are followed by a third group of 20 actors in this project, called the dissemination partners. They learn from the pilots and identify possible regions and project partners throughout Europe for future dissemination in order to ensure rapid up and out-scaling.Through the implementation of this 3 year project, 18 people at 9 partners will be trained to independently operate the system, 10 000 SMEs will channel €34 mln through the system, €4.5 mln of credit extended, and 3 government actors have channelled €14,5 mln through the system leading to 113 jobs created. Dissemination has been prepared by selecting interested regions/parties and establishing contact, 9 conferences organised, manuals will be written and translated into 5 languages . Sustainability of the Digi4Growth system and the pilots will be explored through the elaboration of 10 business plans/licences of Digipay4Growth that have been sold.

Programme(s)

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Topic(s)

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Call for proposal

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CIP-ICT-PSP-2013-7
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Funding Scheme

Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.

PB - Pilot Type B

Coordinator

STICHTING STRO, AKTIE STROHALM CYCLOS INTER LINK
EU contribution
€ 640 593,00
Address
Oudegracht 42
3511 AR Utrecht
Netherlands

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Activity type
Other
Links
Total cost

The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.

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Participants (16)

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