DIG (Data for Investment and Growth) - Pelucid Ltd

* Problem: 50% of UK turnover produced by private companies (ONS October 2011),
encouraging the growth of small companies is a primary government objective. But investors, lenders, insurers and even government departments find it extremely hard to engage with private companies due to the lack of good data (SIC codes are one-dimensional, old-fashioned and full of errors, Companies House records are on average 16 months old). Government, Banks and Corporate Investors are struggling to make informed decisions about growth support, lending and investment.
* Solution: Growth Intelligence (GI) from Pelucid tracks the performance and activity of all 3m companies in the economy in real-time using their constantly changing ‘digital
fingerprint’. This has never been possible before. Pelucid proved concept of GI as a sales and investment tool in 2012 with the support of the TSB. Potential customers now require solid evidence of GI’s revenue estimation accuracy, before they can use it in lending and targeting businesses.
* How project will address problems: DIG will develop a pre-production prototype of its GI tool and the mathematical accuracy will be assessed by an Oxford University mathematician and experienced KPMG analyst.
The GI tool will be valuable for FS firms and the public sector reducing the risk of SME
investment, insurance and lending. More accurate targeting of support for growth companies will foster job creation across the UK.