European Commission and data industry launch €2.5 billion partnership to master big data
The European Commission and Europe's data industry have committed to invest €2.5 billion in a public-private partnership (PPP) that aims to strengthen the data sector and put Europe at the forefront of the global data race.
Mastering big data could mean:
- up to 30% of the global data market for European suppliers;
- 100,000 new data-related jobs in Europe by 2020;
- 10% lower energy consumption, better health-care outcomes and more productive industrial machinery.
The signature of the Big Data Value Public Private Partnership (BDV PPP) took place on October 13th 2014 in Brussels, by the European Commission Vice-President Neelie Kroes and the President of the Big Data Value Association Jan Sundelin, TIE Kinetix.
The BDV PPP signature is the first step towards building a thriving data community in the EU. Already in November 2013 in Vilnius Vice President Neelie Kroes called for the creation of a European Public Partner Partnership for Big Data. Vice President Kroes highlighted that Big Data is becoming the fuel for innovation, powering and energizing European economy.
This signature marks the commitment by the European Commission, industry and academia partners to build a data-driven economy across Europe, mastering the generation of value from Big Data and creating a significant competitive advantage for European industry, boosting economic growth and jobs.
The BDV PPP will commence in 2015 start with first projects in 2016 and will run until 2020. Covering the multidimensional character of Big Data, the PPP activities will address technology and applications development, business model discovery, ecosystem validation, skills profiling, regulatory and IPR environment and social aspects.
The BDV PPP will lead to a comprehensive innovation ecosystem for achieving and sustaining European leadership on Big Data, and for delivering maximum economic and societal benefit to Europe – its business and its citizens.
The Big Data Value Association partnering with the European Commission is an non-for-profit industry-led organization that has members from across Europe and comprises large and small industry and research entities. The BDVA will provide strategic oversight, advice and community engagement.