At The Data City, we’ve been working closely with the Department of Science, Innovation and Technology (DSIT) to develop more than 10 Real-Time Industry Classifications (RTICs) for emerging and frontier sectors. As part of this exciting collaboration, we are proud to announce the launch of our new Advanced Materials RTIC.
This updated RTIC will replace our existing Advanced Materials RTIC, which was originally developed in partnership with Optimat and Knowledge Transfer Network (KTN) in Q1 2021.
While the existing version has served its purpose well, the new RTIC has undergone a comprehensive review and revamp alongside DSIT to ensure it is up to date and aligned with the latest developments in the sector.
Why have we made this change?
The new Advanced Materials RTIC reflects the latest thinking in advanced materials, with its development running parallel to the National Materials Innovation Strategy (led by the Royce Institute). This process allowed us to identify companies that are specifically driving innovation in advanced materials, ensuring a more accurate and targeted classification.
What’s new in this updated RTIC?
The key change lies in the structure: the existing RTIC had 11 verticals, while the new one consolidates this into 6. While the number of verticals has been reduced, the coverage has been refined to focus on the most critical areas, making the RTIC more precise and relevant.
This updated structure also reflects the work DSIT has undertaken to define and shape the sector more effectively.
By replacing the existing RTIC, we are not discarding the progress we’ve made but building on it. The new RTIC represents an evolution, better equipped to capture the dynamism of the advanced materials sector while supporting innovation and growth.
The Advanced Materials RTIC is now live in our platform and available to all Data City users.
Want to find out more about our RTIC and see the data in action? Sign up for a free trial today.
