HKSTP announces first city-wide Data Community to unlock cross-industry opportunities in the digital economy

(Hong Kong, 21 February 2023) – Hong Kong Science and Technology Parks Corporation (HKSTP) today announced the launch of the Data Community, centred on cross-industry data collaboration. The city-wide community is the first of its kind to rally organisations to connect diverse data across institutional and industry boundaries for richer insights and hence, new growth opportunities. 

The digital economy has the potential to open a new dimension for open data and data collaboration; however, data silos remain common in many businesses, creating barriers to data collaboration across departments, institutions, and industries. 

The Data Community strives to connect corporates all over the city with tools and skills to forge data-related partnerships across institutions and industries as they learn to break down silos in this space. Participating community members come from various industries including banking, insurance, healthcare and more. 

The members will gain exclusive access to upskilling workshops, dedicated tools and technologies to protect privacy and security, as well as a pool of data providers, data requesters and technology enablers from the expert community. 

Announcing the Data Community at the “Secrets of Next-Gen Business” event, Crystal Fok, Head of STP Platform, HKSTP, said: “Data will continue passing through the veins of industries and economies in this data-driven business era. The development of new products and services will involve information from a multitude of sources and increasingly, many of these sources will be beyond an organisation’s industry. Organisations that have realised cross-industry data potentials will easily foster innovation, leading to leapfrog their traditional businesses in search of next-generation customers.”

“The Data Community is to bridge purpose. We welcome all enterprises to come and open new opportunities beyond their industry and sector. The success of the banking, insurance and healthcare industries that we work in today is a testament to the power of cross-industry data collaboration. We look forward to seeing other sectors making inroads in the world of the digital economy by capturing cross-industry opportunities.” 

Designed as a trusted platform for organisations to forge data collaboration, the Data Community has also established the Data Governance Steering Committee (“Steering Committee”).

“Data governance is always our first priority. As data becomes more plentiful, it becomes more crucial than ever to have a robust framework for governance that promotes trust and ensures data becomes fuel for intelligence,” said Herbert Chia, Chairman of the Data Governance Steering Committee.

“The independence of the Steering Committee aims to give organisations the confidence and protection they need to foster cross-industry innovation and ultimately, thriving in this new era for next-generation business.”

Composed of high-level advisors and subject matter experts (see table 1), the Steering Committee is an independent entity, providing strategic direction and guidance to HKSTP and the Data Community in five focus areas: ethics, legal and compliance, technology, information security, and cross-industry collaboration. The advisory body will support the members by offering advice on data governance principles and practices for their data collaboration initiatives, or new endeavours and opportunities arising from the community. 

Table 1: Data Governance Steering Committee