Promoting Entrepreneurship and Innovation Through Business-to-Business (B2B) Data Sharing
Summary
To bolster competition, entrepreneurship, and innovation, the next administration should facilitate business-to-business (B2B) data sharing between startups and data-rich, established companies. Asymmetry in the digital economy is an existing market failure that, if left unchecked will continue to intensify to the detriment of consumer choice and our collective security.
Leveling the playing field requires policy to remove barriers to entry created by data advantages and to promote market competition through increased access to big data. Specifically, we propose that the Small Business Administration’s Office of Investment and Innovation establish a data-sharing program that gives entrepreneurs access to the data they need to improve algorithms underpinning their products and services. This would support a thriving and diverse ecosystem of startups that could in time yield valuable new markets and products.
By providing essential funding mechanisms, the Bioeconomy Finance Program will reduce the risks inherent in biotechnology innovation, encouraging more private sector investment.
While the U.S. has made significant advancements and remained a global leader in biotechnology over the past decade, the next four years will be critical in determining whether it can sustain that leadership.
It’s paramount to balance both innovation capabilities and risk as we work towards ensuring that the U.S. bioeconomy is a priority area for both the Nation and for National Security.
The Federation of American Scientists supports the National Security Commission on Emerging Biotechnology’s Final Report and the Recommendations contained within it.