New Public-Private Partnership on Big Data launched
The European Commission and data industry representatives have launched a new public-private partnership (PPP) “Big data Value PPP”, aiming at strengthening the data sector in Europe. Together they plan to invest € 2.5 billion for pushing the global data market for European suppliers up to 30%, to create 100,000 new data-related jobs in Europe by 2020 and to strive for 10% lower energy consumption, better health-care outcomes and more productive industrial machinery.
A Memorandum of Understanding to set up the PPP on big data will be signed today by European Commission Vice President Neelie Kroes and President of the Big Data Value Association, Jan Sundelin, who acts on behalf of companies including ATOS, Nokia Solutions and Networks, Orange, SAP, SIEMENS, and research bodies such as Fraunhofer and the German Research Centre for Artificial Intelligence. The EU has earmarked over €500 million of investment over 5 years (2016-2020) from Horizon 2020, which private partners are expected to match at least four times over (€2 billion).
The PPP will also support “Innovation Spaces” that will offer environments for experimenting with both private and open data. These will also act as business incubators and hubs for the development of skills and best practices.
The PPP, due to start on 1 January 2015, is one of the first outcomes of the European Commission's recent policy and action plan accelerate the development of Europe's data-driven economy.