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European Commission Launches €2.5 Billion Partnership to Master Big Data

CivSource - The European Commission is going all in on big data by partnering with players in the industry to support a pan-European initiative. The public-private-partnership will focus on creating jobs, lowering consumption and improving healthcare outcomes through big data. The plan is notable as a potential model for similar efforts in the US.

European Commission Vice President Neelie Kroes and President of the Big Data Value Association, Jan Sundelin have signed a memorandum of understanding to launch the effort. The EU has earmarked over €500 million of investment over 5 years. Private partners are expected to match the investment at least four times over (€2 billion).

The Big Data Value Association is a non-profit, industry-led organization whose members include IBM, NOKIA Solutions and Networks, Siemens, SAP, and research institutions such as the Technical University of Berlin.