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Data is infrastructure on which the modern economy is built. Data’s increasing ubiquity and abundance makes it vital in every sector, and businesses of every size are becoming more and more dependent.

Open data is creating value for society and the economy. In this age of data abundance, the amount of open data available will keep increasing. Individual businesses, especially startups and SMEs, can take advantage of open data in many ways.

This paper presents lessons learned about the role of open data in successful business models, based on the ODI’s experience incubating startups and on research carried out as part of the Open Data Incubator for Europe (ODINE) programme.

These are not exhaustive but we hope they can guide new and existing startups and SMEs to create value with open data. Although the exact business models surrounding open data are still evolving, the value of open data to business is clear. What these lessons show is the unique opportunity that open data creates for startups and SMEs to create growth, extract value and ensure sustainability while defining the successful business models of the future.

Data entrepreneurship (PDF)