Hong Kong tech firm employs five staff in Belfast
A Hong Kong investment technology firm is employing five people at a new centre of excellence in Belfast – with hopes that it will grow to be the company's largest office.
WAVTEQ Ltd provides business development and consultancy services to economic development organisations across the globe and is a world leader in foreign direct investment (FDI) products.
The company uses a database called ICA Incentives to monitor worldwide transactions and the new Northern Ireland office will house the software's research and sales team.
WAVTEQ was established in January 2010 as a spinout from the Financial Times Ltd by Dr Henry Loewendahl, widely regarded as the pioneer of the modern FDI industry.
The firm has a global technology centre in Cork.
Nerys Coleman, manager of WAVTEQ NI, said that Belfast was the ideal location.
"We selected Belfast due to the strong FDI research cluster in the city and the availability of a skilled, efficient workforce and reasonable office costs," she said.
Oonagh Hinds, manager of Invest Northern Ireland's regional business team, said that with 10,000 economic promotion agencies worldwide, there was a huge global market.
"WAVTEQ NI will be a strategic centre for the group and is expected to grow over time to become the group's largest office," she said.
"The company aims to double sales of its products by targeting the US market, and to grow its corporate research and mobile app business in Europe."
WAVTEQ is among 13 Northern Ireland companies participating at BIO International Convention in San Diego this week.
The number of Northern Ireland firms taking part in a San Diego convention