EU Commission and Europe's data industry start €2.5 billion PPP for big data
The European Commission and Europe's data industry have committed to invest €2.5 billion in a public-private partnership (PPP) that aims to strengthen the data sector and put Europe at the forefront of the global data race. A Memorandum of Understanding to set up the PPP on big data will be signed today by European Commission Vice President Neelie Kroes and President of the Big Data Value Association, Jan Sundelin, who acts on behalf of companies including
- Nokia Solutions and Networks,
- Fraunhofer and the
- German Research Centre for Artificial Intelligence.
The EU has earmarked over €500 million of investment over 5 years (2016-2020) from Horizon 2020 which private partners are expected to match at least four times over (€2 billion).
See also MEMO/14/583.