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Can you build a company around open data?

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As part of the lead-up to International Right To Know Day, the Information and Privacy Commissioner of Ontario held a special panel event to discuss the social and economic value of open data.

MaRS Data Catalyst had a chance to speak at the event, and used the opportunity to highlight the real economic and market imperative for open data. Our argument was simple: the decision to share information with entrepreneurs and innovators isn’t one of hearts and minds, but one based on economics. Open data will help Ontario grow and create new companies and jobs.

http://data.marsdd.com/right-to-know-week/

Published in: Business, Technology
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Can you build a company around open data?

  1. 1. Joe$Greenwood,"Program"Director""
  2. 2. annual$value$of$global$GPS$industry1$ poten9al$savings$to$US$healthcare$from$use$of$data2$ value$of$US$weather$data$industry3$ value$of$global$geo@services$industry4$
  3. 3. !  Products$and$services$based$on$ data$ !  Complimentary$services$e.g.$$ soDware$ !  Lowered$cost$to$find$and$use$data$ !  Costs$savings$to$government$ !  Produc9vity$and$efficiency$from$ using$data$driven$products$and$ services$e.g.$transit$apps$ !  Welfare$gains$from$new$services$ and$lowered$costs$.$ !  Alterna9ve$government$service$ delivery$$ annual$direct$and$indirect$economic$value$of$ Public$Sector$Informa9on$re@use$to$the$EU5$$ annual$direct$economic$value$of$Public$ Sector$Informa9on$re@use$to$the$EU5$$
  4. 4. !  Itemized$spending$$ !  Itemized$tax$receipts$ !  Itemized$grants$and$funding$awards$ !  New$data$service$companies$e.g.$ Open$North,$mining$US$401$tax$ returns$ !  Genera9ng$government$sales$ leads$ !  Transparency$drives$government$ savings$and$efficiencies$ !  Increased$compe99veness$of$ procurement$processes$$ !  Iden9fica9on$of$tax$avoidance$ and$fraud$$
  5. 5. !  Business$registries$ !  Directors$and$shareholders$ !  Firm$crea9on$and$growth$rates$ !  Job$crea9on$and$redundancies$$ !  Consumer$complaints$ !  Labour$force$and$demographic$ data$$ !  New$data$service$ companies$e.g.$DueDil,$ Outside$IQ$ !  AXrac9on$of$capital$to$grow$ companies$and$clusters$$ !  Detec9on$of$government,$ banking$and$insurance$risks$ and$fraud$$ !  Improved$delivery$of$ economic$development$at$ all$levels$of$government$$
  6. 6. !  Road,$transit$and$pedestrian$networks$ !  Transit$schedules,$in$real$9me$ !  Real$9me$traffic$flows$ !  Boarder$crossing$9mes$$ !  Ridership$counts$$ !  Geospa9al$and$consumer$services$ revenue$$ !  Produc9vity$@$keeps$people$and$ goods$moving$$ !  Smarter$transit$investments$$
  7. 7. !  Basic$directory$of$health$ providers$ !  Prescrip9ons$ !  Costs$of$care$providers$ !  Public$health$and$disease$ prevalence$ !  Innova9ve$new$health$IT$companies$ !  Reduced$health$systems$costs$from$transparency$$ !  Reduced$health$systems$costs$from$lower$admissions$and$more$ self$care$at$home$$
  8. 8. In$the$US$VCs$have$plowed$$400$ million$into$healthcare$ transparency$startups$since$2010.6$$
  9. 9. !  Post$codes$and$addressing$ !  Administra9ve$boundaries$ !  Place$names$ !  Background$mapping$$ !  Look$up$tables$and$ reference$data$ !  APIs$ Making$OS$Open$ DataTM$free$at$point$of$ use$will$create$a$ projected$£13.0$million$ @$£28.5$million$increase$ in$Great$Britain$GDP$by$ 2016.7$ !  Growth$in$geospa9al$and$ consumer$services$revenue$$ !  Lower$costs$of$ubiquitous$ applica9ons$$
  10. 10. “The$9mely$release$of$data$in$a$standardized$and$ machine@readable$format$called$“smart$disclosure,”$ seeks$to$empower$consumers$to$make$informed$ decisions,$and$provide$tools$to$innovators.$Smart$ disclosure$can$enable$privacy$by$placing$the$choice$to$ access$and$use$data$securely$in$the$consumer’s$ personal$control”$ $ “Open$Data,$Big$Data,$Yes$…$Personal$Data,$No!$By$ employing$Privacy$by$Design,$smart$disclosure$ ini9a9ves$can$ensure$that$the$consumer’s$personal$ informa9on$is$not$disclosed$to$third$par9es,$without$ their$express$consent.”$ $ Informa1on"and"Privacy"Commissioner"of"Ontario," Ann"Cavoukian,"Ph.D"
  11. 11. 2.7$million$homes$and$ business$with$access$to$ data$ 20$Canadian$organiza9ons$building$solu9ons$$
  12. 12. “Don’t$wait$for$this$[to$become$law].$You$can$give$your$data$away$now,$and$ generate$revenue$and$jobs,$and$even$save$money$from$the$beXer$ informa9on$and$decisions$that$will$flow.”$ $ EU"Commission"Vice@President"Neelie"Kroes" 12"December"2011" +
  13. 13. 1.  hXp://www.whitehouse.gov/blog/2012/07/12/open@data@clean@secure@energy@future$ 2.  hXp://www.mckinsey.com/insights/health_systems_and_services/the_big@ data_revolu9on_in_us_health_care$ 3.  hXp://www.slate.com/ar9cles/technology/future_tense/2012/09/ brightscope_castlight_new_businesses_built_on_open_government_data_.html$ 4.  $hXp://www.oxera.com/Oxera/media/Oxera/downloads/reports/What@is@the@economic@ impact@of@Geo@services_1.pdf$$ 5.  hXp://ec.europa.eu/informa9on_society/policy/psi/mepsir/index_en.htm$ 6.  hXp://www.cbinsights.com/blog/trends/healthcare@cost@transparency$ 7.  hXps://www.gov.uk/government/uploads/system/uploads/aXachment_data/file/ 207692/bis@13@950@assessing@value@of@opendata@to@economy@of@great@britain.pdf$
  14. 14. Joe$Greenwood$ Program"Director" jgreenwood@marsdd.com"" 416@673@8475" " " $

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