Innovate UK, the operating name of the UK Technology Strategy Board, has awarded two AI companies more than £300,000 ($387,600) and will co-invest an additional £130,000 ($168,000) from the grant's funding pot of £20m ($25.8m). The money will be used by the companies to deliver a partnership project entitled: "Chemeia: A synergistic AI integrated architecture for augmenting high value dark-data".
The two businesses, Manchester-based Biorelate and Cambridge-based Intellegens, announced their success in the third round of Innovate UK's open grant funding competition.
Intellegens has developed Alchemite, which uses AI to predict ranked unknown data-points and uncertainties, while Biorelate is in the process of developing text analytics and data mining cloud-based platform Galactic AI.
Project Chemeia (pronounced Chem-ee-a) will test the potential for combining the capabilities of both company's platforms to produce up-to-date, comprehensive and reliable datasets for high-value R&D work.
While current AI methods for curating scientific experimental data can be slow and prone to leaving gaps in the information they produce, the project will attempt to improve data curation techniques to help firms garnering data from in-house experiments and information from external sources to integrate results for further analysis.
Ben Pellegrini, CEO and co-founder of Intellegens, remarked: "Independently, our AI technologies are proven; together they have the potential to take the pain out of data curation.
"We work with sparse data, using our deep-learning algorithm to make accurate predictions in datasets that are as little as 0.05% complete. With the funding granted by Innovate UK we'll be able to exploit the synergies between these two approaches and see if it is possible to create a powerful new approach that can transform data curation."
Biorelate CEO and founder Dr Daniel Jamieson added: "Adequate data curation underpins so much of the future success of research and development in science and Biorelate is continually investing in innovative ways to improve this.
"What really excites me about this project is the prospect of bringing two completely different, game-changing technologies together to achieve something entirely novel."
Innovate UK has a remit to support businesses in developing and realizing the potential of new ideas, which it does by connecting businesses to partners, customers and investors, as well as by providing funding.