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EC to launch public-private partnership on big data

2014-10-14 13:44:22Source:XinhuaAuthor:

The European Commission (EC) signed a memorandum of understanding with the Big Data Value Association to set up a public-private partnership (PPP) on big data, aiming to strengthen the data sector in Europe, according to a statement of the EC on Monday.

The PPP will commence on Jan. 1, 2015, start with first projects in 2016 and run until 2020.

The Commission has earmarked a budget of around 500 million euros (634 million U.S. dollars) in Horizon 2020 while the private sector is expected to invest around 2 billion euros (2.54 billion U.S. dollars).

The PPP will 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 personalized medicine, food logistics and predictive analytics, said the statement.

The Big Data Value Association is a non-profit, industry-led organization, aiming to boost research, development and innovation of big data in Europe.