Alma Economics

What Alma Economics does

Alma Economics is a London-headquartered economic research and technology consultancy founded in 2014, operating across three integrated pillars: research, technology, and communications. The firm delivers policy evaluations, economic analyses, consultation reviews, cost-benefit modelling, and bespoke digital tools for UK government departments (covering 'almost all' of them), the Welsh and Scottish Governments, UK local authorities, and multilateral organisations including the World Bank, UNICEF, WHO, OECD, and the European Commission, alongside charities and NGOs such as GambleAware, BFI, and Resonance. Technical delivery spans custom digital tools, interactive dashboards and data hubs, agentic AI and machine-learning applications, process automation, and economic modelling, built on a stack of Django, React, TypeScript, Vite, Redux, and cloud infrastructure (AWS, GCP, Azure) managed via Docker, Kubernetes, and Terraform.

The business model is professional services-led: revenue is generated through project-based contracts, multi-year framework agreements, and bespoke digital tool deployments negotiated with public-sector buyers rather than published pricing. Distribution runs exclusively through direct enterprise sales — government tenders, framework responses, and direct engagement with multilateral procurement teams — supplemented by thought-leadership marketing via published research, press coverage in outlets such as the BBC and the Guardian, and active LinkedIn presence. Geographic operations now span London (HQ), Athens (regional European office), Sacramento (US office), and Cardiff, with project presence across Africa, the Middle East, South Asia, and additional European and American markets. Leadership is concentrated around founder and Managing Director Nick Spyropoulos, drawing on prior UK Civil Service experience at HM Treasury, HMRC, and the Cabinet Office, supported by a multidisciplinary team of 80+ named professionals in the 101-250 employee band covering economists, social researchers, data scientists, developers, designers, and corporate functions. The company is privately held with no disclosed external funding, acquisitions, or ownership changes.

Name

Alma Economics

Legal name

Alma Economics

Website

https://almaeconomics.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

101–250 employees

Short description

Alma Economics is a London-based economic research and technology consultancy delivering policy evaluation, economic analysis, bespoke digital tools, and AI-enabled analytics for UK government departments, multilateral organisations (World Bank, UNICEF, OECD, European Commission), and major charities across the UK, Europe, Africa, and the US.

Ownership category

akta.pro rank

Product category

Public Policy Research and Consulting

NAICS

Management, Scientific, and Technical Consulting Services (5416), Research and Development in the Social Sciences and Humanities (54172)

SIC

Services-Management Consulting Services (8742), Services-Engineering, Accounting, Research, Management (8700)

akta.pro primary industry

Economic Research, Statistics & Policy Advisory (BPADAMAJ)

akta.pro secondary industry

Enterprise Architecture & IT Operating Model (BPAHAEAB)

Keywords

• Economic policy research
• Public sector consulting
• Data analytics services
• Government advisory services
• Policy evaluation

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Research and Advisory Services: Alma Economics generates revenue primarily through providing research, consulting, and advisory services to government clients, multilateral organisations, and charities. This includes policy evaluations, economic analysis, consultation analysis, and research reports commissioned by public sector bodies. Revenue comes from project-based contracts with UK government departments, devolved governments, local authorities, and international organisations.
2. Software Products and Digital Tools: Revenue is also generated from developing and deploying software products and bespoke digital solutions for clients. These include data dashboards, interactive tools, forecasting and policy analysis tools, and custom web properties. Products are built to complement their public policy and service delivery work.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Alma Economics is a policy research and technology company that delivers economic analysis, policy evaluation, and bespoke digital tools to governments, multilateral organisations, and charities. It operates across three integrated pillars—research, technology, and communication—providing services including policy and economic analysis, custom-built digital tools, dashboards, AI/automation solutions, and stakeholder communication for public sector clients.

Product overview

Alma Economics is a policy research and technology company that operates across three integrated pillars: research, technology, and communication. Their software product suite comprises cutting-edge tools for analysis, collaboration, and communication, including user-centred digital tools, AI and machine learning capabilities, data hubs and dashboards, automation solutions, and modelling and analytics. Their products are built with the end-user in mind, managing underlying complexity so that policymakers, researchers, managers, and front-line workers can achieve their aims simply. They also create custom maps, dashboards, forecasting tools, and interactive portals tailored to specific partner needs.

Differentiator

Problem solved

Functional benefit

Products and services

• Research and advisory services Economic and social research, policy evaluation, economic impact analysis, consultation response analysis, and programme evaluation for government departments, devolved administrations, multilateral organisations, and charities.
• Technology and digital tool development Custom-built user-centred digital tools, AI and machine learning solutions, data hubs and dashboards, automation, and modelling and analytics designed for policymakers, researchers, front-line workers, and citizens.
• Communication services Publishing and editorial design, multimedia production (including documentaries, animations, and video), and press and stakeholder engagement for translating complex research findings into accessible stories.
• Software products Standalone software offerings including custom maps, interactive dashboards, and forecasting and policy analysis tools that allow users to explore data, interact with analysis, and share findings.
• Training and capacity building Training courses and capacity building programmes for public sector organisations, covering analytical and evaluation methodologies to strengthen in-house policy and research capabilities.

Quantifiable outcome

• £349 million in savings to local authorities from Resonance Homelessness Property Funds (2025-2035)
• +3 more outcomes

Named customers12 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature5 records

Partnerships

14 partnerships are on record, tiered core.

• KPMGcoreStrategic or Co-development Partner · 12 November 2025Alma Economics partnered with KPMG and Frontier Economics to conduct research on the economic impact of cyber attacks across UK sectors. The research, commissioned by the Department for Science, Innovation and Technology, produced five papers quantifying the annual cost of cyber attacks at £14.7 billion (0.5% of GDP).
• Frontier EconomicscoreStrategic or Co-development Partner · 12 November 2025Alma Economics partnered with KPMG and Frontier Economics on the UK cyber attack economic impact study, providing independent research supporting the Cyber Security and Resilience Bill.
• World BankcoreStrategic or Co-development PartnerAlma Economics works with the World Bank on international development research, providing economic analysis and country diagnostics. They have delivered projects including Systematic Country Diagnostic work on China's transformation and youth mobility research in the Mediterranean region.
• UNICEFcoreStrategic or Co-development PartnerAlma Economics collaborates with UNICEF on child welfare research internationally. Projects include situation analysis of children and women in Afghanistan and operational research on EU Child Guarantee pilot in Greece.
• WHOcoreStrategic or Co-development PartnerAlma Economics provides advisory services to the World Health Organization on public health policy research and analysis.
• OECDcoreStrategic or Co-development PartnerAlma Economics works with the OECD on international policy research including cost-benefit analysis of child welfare interventions such as implementing Barnahus in Latvia.
• European CommissioncoreStrategic or Co-development PartnerAlma Economics collaborates with the European Commission on policy research and analysis across multiple sectors and member states.
• Department for Culture, Media & Sport (DCMS)coreStrategic or Co-development PartnerAlma Economics was commissioned by DCMS to assess how climate change is affecting grassroots sport in the UK, both environmentally and financially. The project explored ways to reduce environmental impact and identified adaptations for long-term sustainability.
• Defra and Seasonal Worker Scheme TaskforcecoreStrategic or Co-development PartnerAlma Economics was commissioned by Defra and the Seasonal Worker Scheme Taskforce to investigate the potential economic and welfare impacts of implementing the Employer Pays Principle within the UK horticulture sector.
• ResonancecoreStrategic or Co-development PartnerAlma Economics was commissioned by Resonance, a UK social impact investment company, to assess the financial and non-financial benefits of the Resonance Homelessness Property Funds, which acquire and refurbish properties for homeless charities and housing associations.
• Scottish Childminding Association (SCMA)coreStrategic or Co-development PartnerAlma Economics conducted a process evaluation and preliminary impact assessment of the Family Childminding Partnership (FCP) pilot developed by SCMA to provide targeted, enhanced childminding placements for families most in need.
• Family Rights GroupcoreStrategic or Co-development PartnerAlma Economics was commissioned by Family Rights Group to explore costs and benefits of introducing employment rights changes for kinship carers, including policy options analysis and cost-benefit modelling.
• GambleAwarecoreStrategic or Co-development PartnerAlma Economics has conducted multiple projects for GambleAware including analysis of gambling and mental health, strategic evidence reviews on gambling harms among children and young people, and research on military and veteran gambling issues.
• British Film Institute (BFI)coreStrategic or Co-development PartnerAlma Economics conducted research commissioned by BFI on economic challenges faced by independent filmmakers in the UK, producing a documentary 'Lights, Camera, Economics' screened at major festivals.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Frontier Economics: London-headquartered economic consultancy providing economic analysis and policy advice to governments, regulators, and corporates. Direct overlap with Alma in microeconomics, regulatory, and competition economics for public sector clients.
• Oxera: Economics consultancy serving regulators, government, and infrastructure clients across Europe. Comparable to Alma in policy evaluation, regulatory economics, and public-sector advisory engagements.
• London Economics: Economics consultancy with strong public-sector focus across education, health, competition, and environment policy. Closely comparable service mix and client base to Alma Economics.
• NERA Economic Consulting: Global economic consulting firm providing economic analysis for regulatory, antitrust, and public policy matters. Comparable in scale, methodology, and government/regulatory client base.
• Cambridge Economic Policy Associates (CEPA): Economic policy and regulatory advisory consultancy. Direct peer in public-sector policy evaluation, infrastructure economics, and international development advisory.

Broad incumbents

• RAND Europe: European arm of global policy research organisation conducting social science research for governments and multilaterals. Broader and more established player in evidence-based policy research.
• PwC Economics: Economics practice within Big Four firm competing for government tenders and economic impact studies. Overlaps with Alma on large public-sector commissions but operates at much greater scale.
• KPMG Economics: Economics advisory arm of KPMG, partnering with Alma on UK cyber impact research. Larger incumbent with global reach competing for similar UK government and EU tenders.

Emerging players

• Institute for Fiscal Studies (IFS): Independent UK microeconometrics research institute producing influential tax and public-finance analysis for government. Comparable in economic policy research depth and policy influence, though structured as a charity.
• National Centre for Social Research (NatCen): UK social research charity conducting large-scale survey and policy evaluation work for government. Comparable to Alma's social research and evaluation practice serving UK public-sector clients.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/almaeconomics
• Facebookfacebook.com/AlmaEconomics

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alma Economics