Syndicate content

finances

The rise of open data driven businesses in emerging markets

Alla Morrison's picture
Also available in: 中文 | العربية | Español | Français


Mapping traffic flows using real time data.

Key findings --

  • Many new data companies have emerged around the world in the last few years. Of these companies, the majority use some form of government data.
  • There are a large number of data companies in sectors with high social impact and tremendous development opportunities.
  • An actionable pipeline of data-driven companies exists in Latin America and in Asia. The most desired type of financing is equity, followed by quasi-equity in the amounts ranging from $100,000 to $5 million, with averages of between $2 and $3 million depending on the region. The total estimated need for financing may exceed $400 million.
The economic value of open data is no longer a hypothesis
How can one make money with open data which is akin to air – free and open to everyone? Should the World Bank Group be in the catalyzer role for a sector that is just emerging?  And if so, what set of interventions would be the most effective? Can promoting open data-driven businesses contribute to the World Bank Group’s twin goals of fighting poverty and boosting shared prosperity?

These questions have been top of the mind since the World Bank Open Finances team convened a group of open data entrepreneurs from across Latin America to share their business models, success stories and challenges at the Open Data Business Models workshop in Uruguay in June 2013. We were in Uruguay to find out whether open data could lead to the creation of sustainable new businesses and jobs. To do so, we tested a couple of hypotheses: open data has economic value, beyond the benefits of increased transparency and accountability; and open data companies with sustainable business models already exist in emerging economies.

The specter of big data is haunting the world, but has the data revolution already occurred?

Prasanna Lal Das's picture
Also available in: 中文 | العربية | Français | Español

Changes to the supply and demand of data are restructuring privileged hierarchies of knowledge, with amateur hackers and machine-readable technology becoming a central part of its analysis. Traditional experts may be hoping for a gradual evolution, but a parallel revolution led by practitioners in the private sector may already be underway. Prasanna Lal Das argues that partnerships will need to incorporate these new practitioners because for them, the data revolution is already a fact of life.

This isn’t the first age of revolution, but this one feels like it might not last 100 years. Our world is transmogrifying in front of our eyes – sometimes more forcefully than others – and the traditionally dry world of data, dominated by dons and ‘experts’, hasn’t been immune to changes either. It might even be the spark for at least some revolutionary fervour, especially since the report of the high level panel of eminent persons on the post-2015 development agenda called for a ‘data revolution’ to ‘strengthen data and statistics for accountability and decision-making purposes’. The official data revolution has however unfolded slowly, sometimes making one wonder if it’s going to be a revolution of the bureaucrats, by the bureaucrats, and for the bureaucrats. Or if it will be a revolution that truly changes how we measure our world, what we measure in it, and who does the measurements.

The Feedback Hyperloop

Samuel Lee's picture

This post originally appeared on the FeedBack Labs blog.

Arcturus Aldebaran
Photo credit: Arcturus Aldebaran via photopin cc

Feedback is always present. Even silence is not the absence of feedback, but a quiet subtext open for interpretation. In both online and offline communities, the most difficult part is not generating feedback or even collecting it. People typically care about what is happening around them and are often willing to share their sentiments and reflections- sometimes even unable to hold back expression. The advent of writing perhaps marks an innate human desire to share information and to be heard without speaking; “true” silence may actually be quite rare, more a condition of looking and listening in the wrong places or employing a less holistic approach. The graffiti that marks the architecture of repressive regimes past and present is in itself a type of feedback, representing citizen engagement with institutions that refused to officially afford that right or offer practical channels to its citizens. As such, the key challenges that exist with feedback loops are whether or not we are listening, engaging, and actively responding by catalyzing appropriate change.