CueSongs will demonstrate its CuePro music licensing platform at the recently opened Digital Catapult Centre.

CueSongs is one of 28 small businesses to be featured at the venue in Kings Cross, which opened last week with the aim of providing space for innovators, businesses and academia to work together and showcase their products.

The exhibition is the culmination of a six-month campaign to find the “best and the brightest” of British Innovators.

CueSongs’ CuePro system allows rights-holders to set licence usage, pricing and revenue shares for content in real time.

Co-founder and chief executive of CueSongs Ed Averdieck said: “This prestigious selection is a great vote of confidence in our ambition to innovate in the online broadcast market.

“Showcasing the new CuePro at Digital Catapult will help us raise awareness of this new market opportunity and build confidence amongst stakeholders.

“The potential prize is significant as successful delivery of this project will put a UK company at the leading edge of this new market place, which we have researched and estimate to exceed £1bn per year in potential value.

“The UK has always been a top world exporter of music and this new broadcast economy represents an opportunity for the UK to become a world leading exporter of music licensing.”

The Digital Catapult provides support for small-to-medium sized enterprises through facilities and expertise so that new digital products and services can be launched.

It is funded by the government via Innovate UK, which used to be known as the Technology Strategy Board.

The Digital Catapult aims to generate £365m of additional economic revenue for the UK economy.

In March, CueSongs won a £500,000 grant from the Technology Strategy Board to develop its licensing system.