A Belfast-based IT company has set up a team to undertake research and development into the Cloud computing market.
Parity Group plc has set up a subsidiary company in the city to embark on a six-month project beginning in the new year.
A small team, including specialist external consultants, will carry out market research on an interactive, multi-platform visualisation tool.
Current tools on the market tend to be highly complex and expensive and Parity's aim is to develop a cloud tool which will enable ordinary users to create animated visualisations to be easily accessible across a wide range of web-enabled devices.
Invest NI has made an offer of support of £95,000 part funded by the European Regional Development Fund towards the initiative.
Parity's chief executive Paul Davies, said the firm wants to create a generation of tools allowing businesses and consumers to create "interactive visualisations".
"Our experience in the Cloud, 3D visualisation and multi-platform applications will push the boundaries of this technology," he said.
"Creating software is of course a risk venture and Invest NI's support is essential to allowing us to proceed quickly to develop and commercialise the technology."
Carol Keery, Invest NI's director of innovation, research and technology, said that the project will bring together a number of emergent technologies.
"The level of innovation is extremely high and the potential global market for the tool is significant," she said.
"Invest NI is keen to support this kind of cutting-edge research, which will increase not just expertise within the company but also the collective knowledge base in Northern Ireland."