The European Union’s General Data Protection Regulation (GDPR) applied since May 2018, was a policy response to widely felt skepticism and fears in the European population around privacy protection in technology. Policy-makers in EU member states and institutions intended to strike a better balance between promoting innovation and protecting the European citizens’ individual autonomy.
During the 2018 edition of SEC2SV European Innovation Day, we organized a Workshop on GDPR/Data Privacy. 48 participants from the US and Europe joined a three-hour hands-on session to share experience and develop a common understanding in two interrelated areas: where we are in global privacy regulation and what technology companies can do to respond to the growing awareness for data protection as well as to the diverging legislative approaches from regulators in Europe, the United States and other markets.
Innovation is key to sustained corporate success. Innovative firms grow twice as fast, both in employment and sales, as firms that fail to innovate. However, European companies spend less on innovation than their competitors.