The Open Data Institute, founded in 2012 by Sir Tim Berners-Lee and Professor Nigel Shadbolt, aims to demonstrate the commercial value of open government data and develop business capabilities to leverage this value. Open data is defined as data that organizations make available for anyone to access, use, and share, requiring a license for reuse. The initiative promotes data-driven decision making, economic development, and enhanced transparency in government, fostering innovation and citizen engagement.