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The data economy is growing faster than other industries and creating new business opportunities for companies at an accelerating pace. In the Competitiveness through Data project, we are creating links between actors and improving opportunities for sharing and using data and providing tools to do so.
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What is it about?
The size of the data market, or data economy, Data economy An area of the economy where the collection and use of data are a key part of activities. Open term page Data economy is growing faster than other industries and creating new business opportunities and models.
But despite good data resources and a functioning digital infrastructure, there has not been much success in developing new business or significant data-driven services in Finland. According to one study, Finnish companies do not feel they are tapping into the potential of the data economy (Sitra’s business survey 2021).
Sharing data across organisational boundaries multiplies business and innovation opportunities.
Lack of understanding of the importance of data and reluctance to share data between organisations are challenges not only to the competitiveness of Finnish businesses, but also to building a sustainable future. The use of relevant, reliable data is a key enabler of the European “twin transition”, the digital and green transition, as Europe moves towards an era of climate neutrality and digital leadership. We support this transformation.
To succeed, Finland needs to increase data-related business skills and grow data-driven, sustainability-oriented innovation. Globally, innovation activities are mainly focused on innovation ecosystems. An innovation ecosystem refers to a set of actors around the generation of new data and its use.
What do we do?
The Competitiveness through Data project addresses the challenges of sharing and using data in innovation ecosystems.
The project aims to make trust and open data-driven service development a success factor for Finnish innovation ecosystems and a competitive advantage for businesses.
In the initial phase of the project, we will examine the state of data use and sharing in Finnish innovation ecosystems. We will identify factors that need to change in attitudes and organisational culture related to data sharing. We will identify practical tools for using and sharing data for innovation ecosystems.
In spring 2022, we will launch a collaboration with innovation ecosystems that have recognised the importance of data sharing and are ready for it. We will pilot the co-development of data-driven services with them. The aim of the piloted solutions is to create a network-like model for sharing and using data for innovation ecosystems.
We will also raise the profile of innovation in ecosystems and its impact in the European debate. Ecosystems combining research and business know-how are increasingly important in solving challenges facing society.
Where are we now?
The Competitiveness through Data project started on November 2021.
Co-operation with ecosystems started in spring 2022, when we launched a collaboration with innovation ecosystems that have recognised the importance of data sharing and were ready for it. We will pilot the co-development of data-driven services with them. Read more here.
The project will end in September 2025.
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Projects
Digital product passports
The state of development of data ecosystems and networks survey
Pilot projects: Competitiveness through data
Growth from Data programme