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Report

Teaser, summary, work performed and final results

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

Teaser

Summary

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

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.

Final results

With 1.1 MM investment TaxiDriver expects to reach total revenues over â‚¬ 10.5M with â‚¬ 10M Gross Margin, â‚¬ 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 taxisâ€™ CO2 emissions.