UCL spin-out company awarded major grant
16 June 2003
A company founded by members of the Software Systems Engineering Group, in UCL's Department of Computer Science, has won a Smart Feasibility Grant from the Department of Trade & Industry's Small Business Service.
The Smart Award scheme provides financial help to individuals and small enterprises to research and develop technologies with the aim of establishing the commercial feasibility of innovative new products.
Systemwire is a software company specialising in products and services for
data and transaction control. Their clients are businesses with complex or rapidly
changing data or processes, such as large financial institutions. Systemwire products minimise the risk associated
with inconsistent data, reduce the time to market for data driven products and
services and lessen the total cost of owning and maintaining large amounts of data.
The company was created by Professor Anthony Finkelstein, head of
the department, and his team, in response to commercial demand for the technologies
they were researching. The £45,000 grant,
part of a £60,000 project, will be used to finance a study examining the
feasibility of the proposed 'XlinkIT' product range, which stands
at the centre of Systemwire's portfolio.
'XlinkIT' is a powerful software engine that will enable organisations to maintain data integrity across multiple sources. It can help them to check, link, diagnose and repair distributed data and is fast becoming the standard for business rule validation. Mr Ramin Dilmaghanian, Managing Director of Systemwire, said: 'XlinkIT' will help to solve data integrity problems by working within an organisation's existing information management infrastructure. The smart award is invaluable in helping us to plan the 'XlinkIT' product range."