QUIC is a name, not an acronym. It is pronounced exactly like the English word "quick".
QUIC is a new reliable and secure transport protocol that is suitable for a protocol like HTTP and that can address some of the known shortcomings of doing HTTP/2 over TCP and TLS. The logical next step in the web transport evolution.
QUIC is not limited to just transporting HTTP. The desire to make the web and data in general delivered faster to end users is probably the largest reason and push that initially triggered the creation of this new transport protocol.
So why create a new transport protocol and why do it on top of UDP?