The EU platform to reinforce traditional taxi drivers and face the challenging competition of digital era

Project Information

TaxiDriver

Grant agreement ID: 862780

DOI

10.3030/862780

Project closed

EC signature date 24 May 2019

Start date 1 May 2019

End date 31 August 2019

Funded under

• INDUSTRIAL LEADERSHIP - Innovation In SMEs

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

NERD DEVELOPMENTS ZARTKORUEN MUKADO RESZVENYTARSASAG
Hungary

Periodic Reporting for period 1 - TaxiDriver (The EU platform to reinforce traditional taxi drivers and face the challenging competition of digital era)

Reporting period: 2019-05-01 to 2019-08-31

Summary of the context and overall objectives of the project

Platforms for registered taxi drivers suffer a competitive disadvantage struggling to offer the same flexible/affordable services as Uber-like solutions, while they need to ensure full commitment with laws/regulations. TaxiDriver, is a pioneering fully branded e-hailing solution and mobile app for traditional taxi companies, enabling them to boost their activities via a global Taxi Alliance, while maintaining their brand identity. Taxi companies are our customers, taxi drivers and the entire range of citizens (drivers, commuters, families, elderly, tourists) our end-users. We will help taxi companies to efficiently compete with e-hailing companies, while passengers
will get lower cost/trip, enhancement of the safety feeling and unified taxi services regardless the location. Objectives of the FS where to develop a technical, commercial and financial viability check, determine tasks to be done and update our business model with the relevant findings.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

So far we have done a PoC, developed traffic algorithm, designed /tested TwinRide option, Public Beta Testing, IPR Protection & Legislation analysis, collaborations and communications with companies and participation in events. In our Feasibility Study we determined technical developments needed and designed a detailed work plan for next steps, technical/commercial risks and a mitigation plan, an FtO analysis, and a deep market study. We also refined our commercialisation plan, did a competitive landscape analysis and developed a financial forecast.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

With 1.1 MM investment TaxiDriver expects to reach total revenues over € 10.5M with € 10M Gross Margin, € 7.1M EBITDA and a ROI of 8,34. Socio-economic impacts include:
Taxi Competitiveness Enhancement: allows taxi companies to take back their customers, always within a transparent regulations framework.
Benefits for passengers: decrease the cost/trip, enhance the safety and unify taxi services under the same umbrella regardless the location.
Gender Dimension: Women would prefer a ride-sharing or even walk, due to a feeling of insecurity. TaxiDriver drivers are legally registered and the TwinRide feature (allows checking other users/drivers via our review system) will enhance the safety feeling among users.
Reduction of Environmental Footprint: maximizing the trip efficiency (4 times lower waiting time, share a trip via TwinRide) we reduce registered taxis’ CO2 emissions.

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