1835i start-up launches a collaboration platform
DataCo Technologies, a new Australian start-up born out of 1835i, ANZ’s corporate venture capital and innovation partner, has launched a new platform that addresses how organisations safely test and realise the value of collaborating on data.
The DataCo Collaboration Platform allows organisations to connect and collaborate on customer data, leveraging the latest privacy-enhancing and data protection technologies to remove the need for data to ever be directly shared.
“Through our experience trying to deliver data partnerships for large enterprises, we saw firsthand that organisations faced a number of key challenges, namely data risks, unclear value of partnership upfront and staying responsive to evolving rules around consent,” says Danny Tyrrell, co-founder of DataCo Technologies.
“These challenges, particularly concerning protecting consumer privacy and commercially sensitive data, have previously restricted data sharing for many organisations.”
Establishing data partnerships has, in the past, meant that organisations have had to take on either significant investment or risk before really understanding the value.
“We saw that the potential value that can be achieved through a data partnership is not always immediately clear, so we wanted to find a way for organisations to gain clarity before making any major investments,” says Tyrrell.
The platform uniquely connects customer consent to secure enterprise data collaboration so that consumers and organisations are always in control of how their data is used, by who, and for what purpose.
“Consumers have become ever more aware of how their data is being used and consent regulations around the world have been rapidly evolving, moving to an expectation that customers should be always in control of their data,” says Tyrrell.
“Ensuring data collaboration is being performed in line with the latest, active consents is something that is not possible for a number of organisations today, so this is something we are passionate about solving through the platform.”
Developed inside the 1835i Creation Lab, DataCo Technologies officially launched the platform in April 2022 after 12 months development work.