IT firm targets overseas markets
Published 23/04/2013 | 04:20
A Co Down technology company which monitors social media is investing nearly £1m in a bid to reach new export markets.
RepKnight in Drumbo said the cash injection of £974,072 will help it refine its technology to make it more competitive in target markets like the Middle East and the US.
The company can monitor online data to determine if it is positive or negative in tone, and can also identify where the data originated from.
RepKnight customers include businesses in security, media and finance.
It has attended trade shows around the world, including USA-UKTI Cyber Mission in Pittsburgh in the US.
Invest NI has offered just over £335,000 towards research and development, and another £88,000 to help export marketing.
Company chief executive John Reid said it had identified the need for technology which would give intelligence analysts the data they need in a short space of time.
"The UK market has been our primary target to date but we have identified several significant opportunities in the Middle East and the US, which offer rapid and significant growth potential.
"To realise this potential we must continually develop and enhance our existing technology to include more sophisticated data harvesting and visualisation.
"Our product is unique, and the support from Invest NI will help ensure that we have the capability to take full advantage of new business and continue to develop our reputation in the security sector."
Alastair Hamilton, chief executive of Invest NI, said: "RepKnight is a technology start-up company which has seized the opportunities presented to them following on from a successful Small Business Research Initiative (SBRI) competition.
"They have developed their technology quickly and brought it to market in a short space of time, using a range of support from Invest NI," Mr Hamilton added.