A software start-up based in Northern Ireland has secured $1 million investment from the European Institute of Technology and Innovation.
Xpand, which is based at the headquarters of Ulster Bank and supported by its entrepreneur accelerator programme, develops software which is designed to support development by planning and addressing economic needs.
Its dashboard and analytics platform monitors the impact of public policy interventions.
“There are so many complex factors at play when you are trying to measure something like public spending,” said co-founder James Gumble.
“We knew the problem was crying out for a digital solution, but we couldn’t find any software on the market that could track the impact of public investment quickly and effectively.
“This gave us the idea to develop our Xpand platform to look at the wider impact such spending has on local and national economies.”
Gumble said its Insights programme can be customised to work in any EU economy and monitor millions of pounds of spending.
“We are working on enhancing the programme, and support from EIT will help us deliver the next phase of the project across Europe and the globe,” he said.