Periodic Reporting for period 1 - DOP (Data Ownership Platform: turning privacy laws from an obstacle to an opportunity)
Reporting period: 2022-06-01 to 2022-11-30
Ground-breaking innovation of the underlying systems upon which our society is built cannot be enacted by fitting new facts into old schemes. Disruptive solutions require a paradigm shift that could be paralleled to a Copernican Revolution of our time. The revolution I’d like to see unfold is the introduction of a new, decentralised, and distributed data economy. EcoSteer, an IoT and Blockchain start-up for data ownership and monetisation, aims at doing precisely that. Data is rapidly becoming the sustenance fuelling economic growth and innovation, yet its economy is utterly asymmetrical and controlled by a handful of tech giants.
Ecosteer technology implements an entirely new, decentralized approach to data access control. Based on a patented multicast end to end encryption scheme, DOP assigns data access control at its point of origin – any IoT devices –enabling data owners to unilaterally grant and revoke visibility over their data to chosen third parties, enabling European Companies to become the leaders of a new data economy, based on the ethical principles established by the GDPR.
The ultimate goal of this project was to advance in the go to market strategy, being ready for technology commercialization and in a better position for raising €2M.
Ecosteer technology implements an entirely new, decentralized approach to data access control. Based on a patented multicast end to end encryption scheme, DOP assigns data access control at its point of origin – any IoT devices –enabling data owners to unilaterally grant and revoke visibility over their data to chosen third parties, enabling European Companies to become the leaders of a new data economy, based on the ethical principles established by the GDPR.
The ultimate goal of this project was to advance in the go to market strategy, being ready for technology commercialization and in a better position for raising €2M.
The main activities performed to achieve the project’s goal are:
1) Develop commercial relationships – with both prospect clients and commercial partners.
- 2 new pilot projects and 2 in pipeline for 2023 (NDAs signed) secured
- A database of prospects with detailed information about roles of engaged people, discussion status and feedback was created
- Ongoing discussion with a system integrator
2) Obtain from legal counsels a formal opinion document that certifies technology compliance with EU GDPR
- The document has not been finalized yet.
3) Extend IP protection
- After having granted the patent from the EU PTO, the EU national phase has been completed with the obtaining of patents in the following countries: AT, BE, CH, DE, EE, ES, FI, FR, GB. IT, LT, LU, MT, NL, NO, SE.
3) Prepare for fundraising
- A database with contacts of VC firms, with feedback and outcomes was created
- LOI from Bandwidth Capital received
1) Develop commercial relationships – with both prospect clients and commercial partners.
- 2 new pilot projects and 2 in pipeline for 2023 (NDAs signed) secured
- A database of prospects with detailed information about roles of engaged people, discussion status and feedback was created
- Ongoing discussion with a system integrator
2) Obtain from legal counsels a formal opinion document that certifies technology compliance with EU GDPR
- The document has not been finalized yet.
3) Extend IP protection
- After having granted the patent from the EU PTO, the EU national phase has been completed with the obtaining of patents in the following countries: AT, BE, CH, DE, EE, ES, FI, FR, GB. IT, LT, LU, MT, NL, NO, SE.
3) Prepare for fundraising
- A database with contacts of VC firms, with feedback and outcomes was created
- LOI from Bandwidth Capital received
In summary, Ecosteer was able to reach the expected milestones. By executing the planned activities, Ecosteer decreased the risks associated with bringing to the market its technology, as demonstrated by new pilot projects and signed NDAs, and it obtained a LOI from an investor.
To ensure the success of deep technologies such as Ecosteer DOP, it is required a strategic investor able to bring key contacts to accelerate the go to market strategy and quickly obtain significant tractions.
To ensure the success of deep technologies such as Ecosteer DOP, it is required a strategic investor able to bring key contacts to accelerate the go to market strategy and quickly obtain significant tractions.