Parity Group plc, an IT solutions company, has set up a subsidiary company, based at its Belfast office to initially focus on software research and development in the Cloud-based visualisation field.
The new company will undertake a six month scoping project commencing in January 2012 which represents an important long-term venture for the Group. Invest NI has made an offer of support of £95,000 part funded by the European Regional Development Fund (ERDF) towards this scoping project.
This project will initially involve a small team, including specialist external consultants, to scope out and complete planning, requirement definition and market research on an interactive, multi-platform visualisation tool. This is the first phase of Parity’s strategy to establish a solid foundation on which it can build future intellectual property development projects in Northern Ireland.
Carol Keery, Invest NI’s Director of Innovation, Research and Technology, says: “This R&D project will bring together a number of emergent technologies and will help position Parity at the forefront of animated visualisation technology. The level of innovation is extremely high and the potential global market for the tool is significant.
“Invest NI is keen to support this kind of cutting-edge research, which will increase not just expertise within the company but also the collective knowledge base in Northern Ireland.”
Current data visualisation tools tend to be highly complex and expensive. The company’s aim is to develop a Cloud tool which will enable non expert users to create animated visualisations, to be easily accessible across a wide range of web enabled devices.
Parity’s CEO, Paul Davies, says: “We want to create a new generation of tools that will allow both businesses and consumers to create interactive visualisations, which can in particular be deployed in-browser.
“We see this initiative as an important part of our new Group Strategy as outlined in recent statements to our shareholders. As conceived it will build in part on existing proprietary research, for some of which TechLab has agreed to acquire a sole licence.
“Our experience in the Cloud, 3D visualisation and multi-platform applications will push the boundaries of this technology. Creating new software is of course a risk venture and Invest NI’s support is essential to allowing us to proceed quickly to further develop and commercialise the new technology.”