About Data Sharing and Innovation
As part of IMDA’s role in promoting the responsible use of data for business growth while building consumer trust, IMDA supports data sharing and innovation among businesses. One key initiative is IMDA’s Trusted Data Sharing Framework, which enables businesses interested in data-driven innovation to understand the broad considerations for establishing trusted data-sharing partnerships via a systematic approach.
Such partnerships can be further cemented through Data Sharing Agreements, which sets out clear roles and responsibilities in each data sharing relationship. To help businesses scope out the terms for these Data Sharing Agreements, IMDA has released sample Data Sharing Agreements for bilateral and multilateral relationships.
To support safe and trusted data-driven innovation, IMDA’s Data Regulatory Sandbox helps businesses and their data partners explore and pilot innovative use of data in a “safe environment”, in consultation with IMDA and PDPC. To further harness the potential of data and innovation, businesses can tap on IMDA’s PET Sandbox to implement Pilots or Proofs-of-Concept for PET use cases. These Sandboxes reduce uncertainty in compliance with current and planned policies and limit the exposure of companies and consumers.
Beyond these, IMDA is at the forefront of exploring innovative models for digital transformation and data analytics. IMDA is also exploring models such as data trusts and the de-centralisation of personal data management. These can build consumer trust in organisations’ use of data. Data trusts are data governance frameworks, where pooled data is managed by an independent entity in a manner that prioritises the data providers’ interests and preserves their rights and privacy, helping to encourage data-sharing. De-centralised personal data management allows individuals to have control over their data and make informed decision on the use of their data, while enabling companies to collaborate with industry partners to gain access to more customers and develop data-driven innovative products and services.