Tech start up to map the future of the UK economy for Government
GovTech start-up The Data City has secured a contract with the government Department for Business, Energy & Industrial Strategy (BEIS) to help map out the future of the UK economy.
The Leeds-based firm were appointed following a competitive tender process in which The Data City platform scored highest and was selected for the BEIS ‘Future Economy’ project which will look to inform investment and other decision at every level of government.
The Data City will use its proprietary ‘RTIC’ code or (Real-Time Industry Classification), a 21st century industrial classification methodology that accurately identifies organisations within specific industry sectors in real time using machine-learning to accurately, to support BEIS in classifying emerging sectors of the UK economy.
Alex Craven, co-founder at The Data City said: “This contract win is a fantastic validation of our platform and the unique strengths of our technology. We scored very highly in the bid (over 90%) against some tough competition, a great result.”
Despite the challenges of Covid, 2020 has been a great year for the business which not only has is working with central government but also identified a dataset which shows that the UK AI sector has increased in size by 145% over the last decade.
