Source: Business Cloud News
The European Commission and the Big Data Value Association have signed a memorandum of understanding that will see the Commission and private sector firms pump €2.5bn into a number of big data-focused initiatives between 2015 and 2020.
The EC said it will put up €500m from the Horizon 2020 fund to help create up to 100,000 new data-related jobs in Europe by 2020, and invest in businesses using data innovatively for energy efficiency optimisation, healthcare service improvement, and industrial machinery applications.
The Big Data Value Association, which represents ATOS, Nokia Solutions and Networks, Orange, SAP, SIEMENS, and several research bodies, and other members of the EC’s Data public private partnership (PPP) including IBM, SAP, Software AG and a number of other organisations, will pump at least another €2bn into the initiatives over the same period.
“Data is the motor and foundation of the future economy,” said EC vice president Neelie Kroes, who signed the MoU along with Big Data Value Association president Jan Sundelin.
“Every kind of organisation needs the building blocks to boost their performance, from farm to factory, from the lab to the shop floor,” Kroes said.
The EC and participating firms will also help create “innovation spaces” as part of the effort, which will offer secure environments for experimenting with private and publicly available data sets.
In October last year the European Council called on the Commission to support more initiatives aimed at helping European businesses compete more ably in the digital economy, as well as other broad related efforts in mobile and cloud computing.
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