EY seeks start-up to solve data privacy challenges
EY is inviting start-up tech companies to compete in a competition looking for solutions to the problems posed by “right to be forgotten” regulations.
Based at Canary Wharf’s Level39 technology hub, the Challenge is looking for six tech start-ups with tech solutions that can help EY’s clients respond to the business challenges posed by the “Right to be Forgotten”, which is being addressed in the forthcoming EU General Data Protection Regulation. The start-ups selected will receive mentoring from EY, its major clients and other industry professionals. They will also have the opportunity to showcase their technologies, including data capture, processing and data erasure, to “influential stakeholders”.
EY says that the Right to be Forgotten will increase consumers’ awareness of their rights to their own data and will mean that businesses will need to consider issues around reputation management, consumer trust, compliance, operational efficiency and ultimately growth. The recent raft of security breaches has also highlighted the importance of data protection and privacy in the increasing digitisation of businesses, and has made this a board issue for data-driven organisations. Increased collaboration, and giving support to those start-ups innovating in this space, will be crucial in addressing this.
The six sucessful candidates will each receive:
- access to EY clients and new potential customers;
- mentoring and guidance from senior leaders within EY and its client base;
- a curriculum of master-class sessions;
- access to EY’s wider business, including advisory, tax, accounting and corporate finance, as well as access to EY’s entrepreneurial networks;
The winning start-up will be offered a secondment of an experienced EY professional for ongoing, hands-on expertise at the end of the programme.
Robert Walker, EY advisory sector lead for technology, media & telecommunication, said: “We’re very much looking forward to helping innovative tech start-ups tackle this topic. This programme will give start-ups much needed access to big business and help our clients respond to the challenges posed. Innovation is the key to business success so it’s a win-win solution which will see start-ups benefitting from business leaders and vice versa.”
EY designed the programme in conjunction with innovation specialists, Pivotal Innovations, based at Level39. “Data security and ‘the Right to be Forgotten’ are becoming even more critical issues for both business and consumers in light of upcoming changes to European legislation,” said Eric Van der Kleij, head of Level39, Canary Wharf Group and director of Pivotal Innovations. “[It] throws up new challenges in areas such as data capture, privacy, and in the rapid response to removal requests. Dealing with these challenges can be complex and expensive, due to the financial and reputational risk to businesses, and the impact of non-compliance.
The EY Startup Challenge is now open to applicants, and will run from November 3rd for six weeks.
