The European Commission has joined forces with the data industry to invest €2.5bn (£2bn) in a public-private partnership (PPP) that aims to strengthen the data sector and put Europe at the forefront of the global data race.
A Memorandum of Understanding to set up the PPP on big data will be signed today by EC vice-president Neelie Kroes and president of the Big Data Value Association, Jan Sundelin, who acts on behalf of companies including ATOS, Nokia, Orange, SAP, Siemens, and research bodies.
The EU has earmarked over €500m of investment from 2016 to 2020 from Horizon 2020 – the EU’s €80bn research and innovation programme – which private partners are expected to match at least four times over and invest €2bn.
It is claimed the initiative will lead to the creation of up 100,000 new data-related jobs in Europe by 2020; 10% lower energy consumption, better healthcare outcomes and more productive industrial machinery and give European suppliers up to 30% of the global data market.
Kroes said: “Data is the motor and foundation of the future economy. Every kind of organisation needs the building blocks to boost their performance, from farm to factory, from the lab to the shopfloor.”
The idea is to help focus public, private and academic research efforts to support research and innovation in game-changing big data ideas in fields such as energy, manufacturing and health to deliver services like personalised medicine, food logistics and predictive analytics.
The PPP, due to start on 1 January 2015, is one of the first outcomes of the Commission’s recent policy and action plan accelerate the development of Europe’s data-driven economy.
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RT @DM_editor: European Commission seals £2bn big data partnership http://t.co/pGuHrwHr3u #data #bigdata #directmarketing #analytics #digi…
RT @DM_editor: European Commission seals £2bn big data partnership http://t.co/pGuHrwHr3u #data #bigdata #directmarketing #analytics #digi…