SciChart Ltd, which creates software to chart big data visualisations for financial services and scientific research companies, has been honoured with a Queen’s Award for Enterprise for Innovation. SciChart is one of only 61 firms to be recognised in the innovation category, and the only software development company recognised within the industry.
Founded in 2010, SciChart designs, develops and sells a software component to business and enterprise to draw fast, visually-appealing graphs, graphics and visualisations for the scientific, medical, financial and engineering industries. Drawing upon his experiences as a software consultant from investment banking to scientific research, director and software architect
Dr Andrew Burnett-Thompson identified the need for faster graphics and visualisation in business applications in order to quickly display the large amount of data that scientific or financial firms generate. SciChart’s game-changing innovation was to combine proprietary data resampling algorithms and technology from the gaming industry for speed and performance of graphics with enterprise software applications, resulting in a software library that was able to draw charts, graphs and other visualisations many orders of magnitude faster than competitors.
As a result, SciChart’s software opened up new markets for their clients, allowing them to create previously-impossible projects, where competitor charting software was simply too slow to be usable. SciChart’s software is used by all kinds of industries that require fast, real-time, big-data charts, graphs or visualisation on Windows desktop, mobile or embedded systems. Applications include visualisation of tumour imaging data in cutting-edge cancer research, tracking Formula 1
vehicle parameters during races, analysing real-time financial data for making trading decisions, and providing the charts and graphs for low-cost electrocardiogram devices used in the developing world. In each of these examples, SciChart’s fast, real-time charts and graphs enabled customers to bring to market cutting-edge innovations at a fraction of the cost and time of developing the graphics software themselves. As a result, SciChart has grown organically from a single-person company to a small business with just under 20 full-time staff, with thousands of customers worldwide and all without outside investment or debt, overtaking established competitors with larger resources. SciChart has secured a position as “best in class” for charting and graphics software and continues to innovate, driving performance improvements, supporting new platforms and features, helping its customers to conquer new sectors and drive market share. Dr Burnett-Thompson said: “We are honoured that we have been recognised with this award, and that the UK’s technology sector continues to be celebrated. “It’s been amazing to see the uptake of SciChart across business and research. “To have our work recognised for its innovation is a true testament to, not only the team at SciChart, but also our amazing customers and how they have implemented this technology to further scientific causes and business functions.”