Seeking out new software

Dec 10 2009 by Andrew Mernin, The Journal

ALMOST £2m has been injected into a new scheme that aims to unearth the most successful software firms from the region since Sage first hit the market.

The project, backed by £1.9m in European funding, will support developers through the usually expensive and complex process of building a prototype product.

The initiative aims to accelerate the creation of high-growth software companies in the North East while developing 20 software prototypes worth around £30,000 each.

The North East’s centre for digital innovation, Codeworks, will run the Digital Evaluation Vehicle and is part financed by funding from regional development agency One North East,

The aim of DEV is to remove barriers that prevent software innovations reaching the commercial market by offering a low-risk, demonstration facility for initial ideas.

It is hoped in the longer term the scheme will help spawn new businesses and create new jobs in the software sector.

For each prototype developed, there will typically be around £10,000 invested by the inventor, which is then matched by £20,000 from One North East’s Single Programme and European Union funding.

DEV programme leader Fred Pernet will seek to identify entrepreneurs or companies with a new software concept for development and prototyping.

The team will then work with them on these early-stage ideas to analyse their market potential, technical requirements and provide a development roadmap for design and testing.