GDPR, Data, Start-Ups…

Monday the 25th of September Josefien and I attended the start-up event: GDPR & Software Quality. So what is GDPR? And what is the link with start-ups?

GDPR stands for General Data Protection Regulation and is designed by the European Commission in 2016. GDPR aims to harmonize data privacy laws across Europe, protect and empower all EU citizens data privacy and it reshapes the way about how companies use and approach personal data. The GDPR replaces the old Data Protection Directive out of 1995. The GDPR enters into force in May 2018. By then all companies, which process or use data from European citizens for their business should comply to this rule.
So it is about the protection of personal data, what actually is personal data? To name some examples: photos, email addresses, bank details, computer IP addresses, etc… All in all, data that can directly or indirectly identify a person.

Nowadays we live in a world where data becomes more and more important. More and more companies rely on the use of data for their businesses. It is easy to understand that the GDPR rule has a dramatic impact on the business world today. All companies need to adapt to make sure that they comply with the GDPR rule. For example, personal data such as a phone number, cannot be transferred from one company to another without informing the owner. Have you ever wondered how recruiting bureau’s get to know your phone number?

So, this brings me to start-ups. A lot of start-ups, especially technical start-ups which use big data for their business, need to know what is allowed within the GDPR rule. On the one hand, when start-ups know what they can do within this new piece of legislation it can give them a competitive advantage among others. On the other hand, due to this GDPR rule new niche businesses emerge. Start-ups can use this niche to specialize in data protection and provide advice to clients.

I learned that the use of data under the GDPR rule will change. Remarkably their is not much media attention for this topic, but I expect that this will increase as soon as the deadline of May 2018 is coming closer. The majority of companies is simply not ready for the GDPR rule. So start-ups that specialize in data protection should use this opportunity to provide consultancy to boost their business.

Thank for reading,

Menno