Innovation Ecosystems 2025

4.3 Data sharing and digital services Innovation districts must consider data sharing (from both a technical and governance perspective), as well as the right mix of digital services to provide to users.  Data sharing Data sharing has the potential to enable collaboration and drive value through the convergence of data- hungry and data-generating digital technologies. As such, innovation districts must consider how they can target data-sharing initiatives and support their success through governance and data-sharing infrastructure and services.  Data sharing brings with it both technical and governance considerations. On the technical side, standards for interoperability, quality and real- time data feeds can consume time and budgets. On governance, innovation districts need clear data-sharing agreements to ensure responsible data sharing and use. These agreements must strike the right balance between protecting intellectual property, while enabling collaborative research and development between start-ups and established companies. There are few better examples of data sharing impact than Open Banking, which has adoption rates reaching 12-15% of households across the United Kingdom, Brazil and the US.63 Of relevance to innovation districts is how the early and intense focus on a regulatory and governance initiative created a thriving ecosystem driving innovation and consumer choice in financial services. Singapore’s Punggol Digital District (see Innovation District Spotlight 9) exemplifies the tangible benefits of data sharing for an innovation district. Its digital infrastructure is built around an Open Data Platform, which plays a central role in optimizing services and enhancing system performance by integrating and managing energy data across the district. Supported by digital twin and simulation technologies, the district is a testbed that facilitates real-world experimentation. Innovation Ecosystems: A Toolkit of Principles and Best Practice 39