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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 (Digipay4Growth)
Start date: Jan 1, 2014, End date: Dec 31, 2016 PROJECT  FINISHED 

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.
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