The commercial value of data (commonly referred as the 'oil of the 21st century') has exploded over the last years and, as such, it is becoming more and more regulated worldwide. This is especially true in Europe thanks to the approval of the General Data Protection Regulation (GDPR) and its impending coming into effect (on 25 May 2018), which has left several European and international companies unsure about the best way of complying. This will not only inevitably increase the costs for management of data but also demand the design and implementation of new personal data management paradigms that would not only comply with these requirements but also offer the required level of control and transparency to the end users in a way that they are able to understand and manage.
The analysis of this trove of personal data is currently leveraged to produce quantifiable benefits (up to €1 trillion by 2021) by private and public organisations in order to design new services and products that better suit consumer preferences. Nevertheless, several companies have also misused or failed to regulate the use of this information either directly (for example snooping, reselling, leaking personal data without user consent) or also indirectly (failing to provide the mechanisms to control or manage very sensitive information). This impacts not only the businesses and reputations but also the personal lives of people who deal with real life repercussions because of their information being mishandled or leaked online
To address these challenges, WhiteRabbit aims at developing a off-the-shelf software platform able to become a 'privacy accountant' that, with minimal configuration and investment, will allow to extract value from data while keeping its subjects in the loop and also complying with upcoming regulations. Such platform will allow companies willing to manage personal data in a quicker, less expensive and more end-user driven way. In a “data vs. money” comparison, the platform has an analogous role of an automated “tax accountant” that helps to deal with complexities and regulations related to “tax returns”. To do so, when installed in the client's servers as a middleware, the software will provide an extra layer of transparency and granularity for management of all operations related to personal information.
Taking a step back from the content and focusing on the process necessary for an innovation to reach the market, it has been proven that no “easy to follow pathway” exists from the intellectual property produced from research projects to actual market-ready products. The lack of knowledge, within research environments, on subjects like Intellectual Property management and business/market needs are frequently cited as the main reasons for this.
Among the project's specific original objectives we can cite:
* To validate the Lean Canvas’ assumptions: the project needed to validate of initial assumptions and extend them to from the base of the business model towards a punctual roadmap for commercialisation.
* To fine tune the main features of the platform: compiling feedback from early adopters trial to set up the final product with the right features to match customers’ needs and make it attractive to the market and consequently, to investors.
* To set up the commercial vehicle, a new company, to market and sell WhiteRabbit.
* To contact and engage potential customers and seed investors. The success of the new venture will depend by the availability of financial resources to reinforce the staff and sell first licences.
* To raise awareness on exploitation within the research community. The lessons learned during the implementation of the project will be shared with the research community (in particular the FET) acting as a role model and motivating researchers to exploit their own results.
