Data-as-a-service company, The Data City, has secured a five-figure contract with the Department for Business and Trade (DBT), to provide valuable insight that will be used to help stimulate economic growth.
The contract award enables the DBT, formerly the Department for International Trade, to analyse real-time data to map the economy and create engagement opportunities with companies.
It will also facilitate requests from other areas of government and partners to identify and target relevant companies, offering faster, more accurate access to economic data with lists generated in minutes rather than taking hours and days.
Leeds-based The Data City is successfully mapping the UK’s emerging economy, providing researchers, policymakers and investors with real-time data on dynamic sectors and the companies within them.
The Data City is a data-as-a-service company providing unique, real-time industrial data on the most dynamic emerging economic sectors. Delivered by a cutting-edge AI, The Data City’s platform combines all the data needed in one place, from open data sets and website text to company financials and investment data, allowing users to make impactful discoveries in minutes.
The project will see the development of a national-level data resource to support the ongoing pursuit of sales opportunities and client matchmaking.
Alex Craven, CEO of The Data City, said: “This is an outstanding opportunity for the team to demonstrate the quality of the insight we deliver in partnership with leading organisations, to play an important part in the UK’s Growth Plan.
“Working closely with the DBT will see activity mapping the national and regional emerging economy strengths for sectors such as space, fintech, digital and technology and Net Zero, or any other RTIC, to help with foreign direct investment opportunities and bids, further stimulating growth and economic development.”
The Data City team has spent the last seven years working with industry bodies, academic and sector experts and government departments to build an extensive library of new economy sector classifications that, once classified, are made available to all of its customers.