Project description
New software to calculate property values faster
Advanced financial formulas are used to calculate the projected market value of commercial properties. This is a tricky, time-consuming and very costly process. The market requires fast evaluations and accurate financial reports. The Exquance Automated Valuation Model (XQ AVM) is an advanced software that offers a quick financial calculation for real estate. It also reduces costs by 95 %. The EU-funded XQ AVM project targets this estate industry. Based on a SaaS (Software as a service) business model, it operates on a subscription basis and offers direct information to customers. The XQ AVM is slated for the markets in Asia and the EU.
Objective
Current practices in financial valuation of commercial properties are based on manual processes. Automation is needed to help companies on everyday financial modelling, collaboration, valuation and reporting tasks. Exquance Sofware Oy offers a game changing solution: Software platform with a unique calculation engine and breakthrough innovative Exquance Automated Valuation Model (XQ AVM) calculates property valuations without human intervention. The innovation creates 95% costs savingscompared to current costs of valuation of any building. Delivery time is only some minutes compared to several hours with current methods. Immediate gains in operative efficiency, and enhancing the quality of financial modelling, and internal and external reporting, are reached. Competitive
niche-oriented solutions are based on normalised data and not scalable.
The first phase solutions are targeted to professional players in the €8,000M software market of the real estate investment industry, the solution is scalable to all investment markets globally. The business model is SaaS, transaction-based per purchased appraisal report. The shareable content makes it possible to reach clients' customers and partner companies and opens up the viral, network based user acquisition channel.
Exquance Software Oy develops innovative solutions for commercial property valuation and investment management aiming to be the leading vendor of industrial, financial modelling and AVM solutions in the EU and Asia. Dedicated team of 26 professionals in software development, business management with an in-depth understanding of real estate investment industry, and international sales. The company has realised €1M revenue to date and €600k equity investments. Company has strong client base; 13 effective client agreements with major industry players, and 300 clients have expressed their interest in the XQ AVM innovation.
The impacts will be reaching 10 000 clients and creating €40M revenue and 400 jobs by 2023.
Fields of science (EuroSciVoc)
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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 databases
- social sciences sociology industrial relations automation
- natural sciences computer and information sciences software software development
- social sciences economics and business business and management business models
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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.
00530 HELSINKI
Finland
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.