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Start-up businesses – is big data key?

30 July 2014

On 25 July Lisbon start-ups came to London for the London Investor day of the start-up accelerator Lisbon Challenge, where more than ever it was obvious that data is indeed the oil of the internet.

The Lisbon Challenge is a start-up accelerator organised by Beta-I and, as the name suggests, based in Lisbon. It has 2 phases, the first one dedicated to mentoring 30 chosen start-ups and the second an investment phased for the 5 best start-ups.

London Investor day is the end of phase 1, and is a day when the chosen 10 start-ups are able to present their business to a room filled with investors, colleagues, other start-ups and mentors.

Last week we heard all about how new systems of data processing can help sport coaches analyse their athletes' performances, how the internet of things will help us take our medication on time, how ringtones are the holy grail of targeted advertising, or even how to ensure your presentations hit the right note with attendees!

For more details on the amazing projects presented please check Beta-I's website

Throughout the presentations it was clear that big data is the future. All the projects seem to have data as their final goal, and providing customers with tailored reports on the service users or targets hit seemed to be the ultimate key to monetising the product.

Data analytics, data aggregation, regular usage reports sound 'jargonish' but all point to this idea of using automatically collected information about the use of the service.

This goes hand in hand with the ICO's report released yesterday on Big Data and how it must still comply with the Data Protection Act. We will cover this during our next Information Law Update.

To help start-ups think about data protection without hindering their entrepreneurial creativity, we created a top ten data protection tips for start-ups - please let us know if you want to receive a copy.

This article was written by Robert Bond.

For more information contact Robert on +44 (0)20 7427 6660 or robert.bond@crsblaw.com