|Practice area:||Business analytics | Data & technology | Disruptive technologies | Entrepreneurship & SMEs | ICT | Internet/New Economy | Productivity, Innovation and New Economy|
|Client:||Data Pitch (Horizon 2020)|
|Published:||24 January, 2020|
Data is an important driver of innovation and productivity. The key to a productive data ecosystem is to enable reuse of data and integration with other datasets in a data value chain, which can include open, closed, and shared datasets. This means rethinking access to data and creating opportunities for data owners to work with other organisations, in particular innovative start-ups and SMEs that bring the creativity to use data in new ways to create value-added products and services.
Data Pitch is a pioneering programme aimed at facilitating open innovation through data-sharing. Data Pitch helped data providers to develop open innovation challenges and facilitated the matching between data providers and start-ups. Data Pitch establishes a transnational data innovation ecosystem that creates collaboration between data providers on the one hand, and start-ups with fresh ideas for data-driven products and services on the other.
London Economics’ study explores and evaluates the impact of Data Pitch on participants using a mix of quantitative and qualitative data obtained from programme documentation, published sources, and primary data collection.
During the Data Pitch programme, participating firms increased their sales by €36,554, received investments of €82,448, realised efficiencies of €17,168 and increased their employment by 2 employees on average. On average, start-ups generated €599,432 in sales and €338,862 in investment per GB of data shared with them through Data Pitch. By the end of the programme, the total Data Pitch resources already attracted 50% equivalent value from other investment opportunities. One year after the end of the programme, ROI already exceeded 100% and leveraged investment was already approaching 300%.