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Spreadsheets run the world. We run spreadsheets.


The spreadsheet is the most widely used data storage, manipulation and modelling software tool within the non-developers reach. Almost 750M people use it, while 60% of the business world underpins every critical business decision, planning and budgeting based on spreadsheets. Since a strong business comes with good data, analytic strategy and clear vision, organisations are extending current infrastructure with modern analytics tools, driving fast market expansion for Application Platforms as a Service, aPaaS (3.5Bn€ by 2020, 18.5%CAGR). Business intelligence based on spreadsheets is left behind though due to their shortcomings in handling high data volume, data integrity and flexibility.
As successful entrepreneurs with 20 years of experience in software development for the data market, we have the means to challenge the shortcomings of spreadsheets. We introduce GRID, a high level web-based application transforming spreadsheets into user-friendly reports, dashboards and interactive applications. Through it, we enable not only the creation of new data collection, but also handling the existing ones within the online environment. Our technological innovation consists of a 3 steps mechanism capable to read spreadsheet files and automatically compile the data, logic and presentation layers to server-side.
A 2018 start-up located in Iceland, GRID Inc, was founded as a response to a business opportunity resulting during our survey on spreadsheets as a self-service problem solving tools for non-IT individuals. GRID is an aPaaS that could improve the advantages of Business Intelligence (30.3Bn€ by 2023) or become an extension to Office Suites (27.7Bn€ by 2023). We follow a Software as a Service business model, a “Pay as you go” mechanism and 3 levels of monthly subscriptions offering full access and functionality of our product. By completing this project, we estimate 35.45M€ cumulated profit, ROI of 13.18 and additional 32 FTE.

Field of science

  • /natural sciences/computer and information sciences/software/application software
  • /natural sciences/computer and information sciences/data science/business intelligence
  • /natural sciences/computer and information sciences/software/software development
  • /social sciences/economics and business/business and management/commerce

Call for proposal

See other projects for this call

Funding Scheme

SME-1 - SME instrument phase 1


Klapparstigur 29
101 Reykjavik
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
EU contribution
€ 50 000