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The EU has embarked on a Three-year project that aims to encourage Startups and SME’s to share information to improve data-led innovation.

Knowledge flow

New collaborative data-sharing alliances are being formed between enterprises and small to medium sized enterprises. The aim of this is create a flow of knowledge from experienced enterprises to enrich younger businesses under the guise of the “Data pitch project”.

The Project is funded by the European Union’s (EU’s) Horizon 2020 Research and innovation program. Open data Institute Jeni Tennison stated that by encouraging Startups and enterprises to work together through the project, the chance for successful ventures is increased for both parties.

“Startups have the skills, agility and energy to create novel and innovative solutions using data. Corporates need to understand the benefits of publishing and sharing data to take advantage of this innovation,” said Tennison.

“Data Pitch will allow both corporates and startups to experiment with ways of encouraging open innovation using data in a safe environment.”

Application soon to be available to public

The Project opens the application to the public from the 1st of July, each round of accepted Startups will be entered into the program for six months from December 2017. This is to ensure that the data being shared is still relevant and useful to both parties.

The three-year programme will see approximately 50 SMEs receive a share of €4.8M in funding to boost the growth of their business throughout the duration of the program.

Elena Simperl, Data Pitch project director, stated the programme would help enterprises weighed down with big data put it to good use. “In the digital age, every organisation, public or private, big or small, generates and owns substantial data assets. Not all them can use this data effectively,” said Simperl. “With Data Pitch, we take an established open innovation model and apply it at a European scale – we pair some of the most creative entrepreneurial minds in 28 countries and help them to solve data challenges that matter”

The overarching aim of the initiatives is to create a continent-wide ecosystem of information. That will not only increase the amount of information available to SME’s but also offer economic and reputational gain.

Further Reading

To read more about the project please go to: http://www.computerweekly.com/news/450416700/EU-backed-Data-Pitch-fund-to-encourage-information-sharing-between-startups-and-enterprises-launches