Project description
A system to better assess translation services
Companies that require high volumes of translations rely on translation vendors, often relinquishing control over quality and cost. The EU-funded AQRATE project has developed a web platform designed to support large companies and organisations with purchasing high volumes of translations services to reduce their costs. The platform will allow them to take control of word counts and translation quality more efficiently. AQRATE’s approach aims to increase transparency and competitiveness of the translation market. It is expected that the new platform will slash annual translation costs by 30 %.
Objective
Aqrate is the SaaS changing the way companies handle and purchase translation services. It is a web platform designed to support companies and organisations who translate high volumes of documentation. Translations might seem like a simple process to handle, but for companies around Europe who require thousands of words translated per week, the reality is much more complex and costly. There are thousands of companies spending over €50,000 per year and many spend over €100,000. The main issue for translation buyers today is that cost estimates are provided by language service providers (LSPs) themselves, and buyers are given little transparency on the process. This creates a clear conflict of interest because companies producing large volumes of text for translation tend to entrust their content to one LSP with no visibility or feedback on word counts and translation quality. Purchasing translation services on the market is therefore like putting fuel in your car without knowing how much fuel is in the tank or how much you are adding. Aqrate provides companies with a meter to overcome this market asymmetry and level the playing field. Our approach is completely unique in the industry and was created to give companies control of their translations and allows them to use multiple vendors. Our software separates content analysis from translation to reduce costs and improve the quality of the entire process. Our market tests show that we can deliver companies 30% savings on their yearly translation costs. We have a clear value proposition that resonates in the market, and we believe that within three years of market launch we will be generating €6 million per year. We will use Phase 1 to conduct valuable market validation and targeting studies while also completing our due diligence process around remaining software development areas. Our estimated total funding required: to reach TRL 9 is €2.2 M which we plan to fund via private financing and a Phase 2 project.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- natural sciences computer and information sciences artificial intelligence
- natural sciences computer and information sciences software software development
- social sciences economics and business business and management business models
- engineering and technology environmental engineering energy and fuels
- social sciences other social sciences development studies development theories global development studies globalization
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.2.3. - INDUSTRIAL LEADERSHIP - Innovation In SMEs
MAIN PROGRAMME
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H2020-EU.3. - PRIORITY 'Societal challenges
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H2020-EU.2.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
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.
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.
SME-1 - SME instrument phase 1
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-EIC-SMEInst-2018-2020
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
40121 BOLOGNA
Italy
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
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.