In the last decade, we have witnessed a remarkable transformation in the global delivery and access to essential services, such as healthcare, driven by innovative digital platforms. Data-focused startups have played a crucial role in this shift, harnessing data and leveraging technology to address the most pressing global challenges and contribute to advancing sustainable development goals.
Revolutionizing Healthcare through Data-Driven Innovations
Data is critical in transforming access to essential services, particularly in healthcare, where challenges such as timely access, early detection and prevention, drug discovery and development, and more persist across numerous European countries. In May 2022, the European Commission proposed a regulation to establish a European Health Data Space (EHDS) to facilitate seamless access and exchange of health data across the region, with a dual purpose of enhancing healthcare delivery (“primary use of data”) and contribute to health research and policy-making (“secondary use of data”). The EHDS signifies a collaborative effort to harness the potential of health data, fostering cross-border cooperation and advancing healthcare outcomes on a continental scale.
Exheus, based in Spain, is an excellent example of a startup leveraging data to advance healthcare provision in Europe. The startup focuses on early disease detection, employing blood tests that analyze RNA levels to examine the expression of all genes associated with over 360 metabolic pathways. Through artificial intelligence, Exheus can detect early alterations with a simple blood sample, enabling healthcare professionals to proactively identify comorbidities, address multiple medical conditions simultaneously, and ultimately increase customer life expectancy by utilizing advanced biotechnological tools.
Bridging the Digital Divide for Inclusion
Even in the digital world, prioritizing the needs of one group can inadvertently marginalize others. Internet penetration has the potential to mitigate this challenge. Globally, telecom operators face governmental pressures to swiftly implement high-capacity networks that promote economic and social development in rural and remote areas. However, the dispersed nature of homes can make the cost per home or connected mobile user seem prohibitive, causing delays in investment decisions for network upgrades.
Aircision, based in the Netherlands, is resolving this challenge. The startup is working to improve access to connectivity and address the challenges associated with network upgrades in dispersed and remote areas by building high-capacity free space optics systems that can be deployed fast, cover long distances, and are highly secure. “Giving people access to better communication will allow everyone to exchange more information. If we can provide high-speed connectivity to everyone, not only do we contribute to better infrastructure, we could also play a part in reducing inequalities,” the startup says on its website.
In 2020, the European Commission revealed “The long-term vision for rural areas” outlining the Commission’s plan to provide better connections to Europe’s rural communities by 2040. Stable connectivity has the potential to repatriate families and attract individuals to rural areas by enabling remote working, telemedicine, innovations in agriculture, and access to a myriad of online services.
Safeguarding Privacy and Security Through Innovative Cybersecurity Solutions
Protecting data from hacking or unethical use is fundamental to upholding the universal right to privacy and security. It is a crucial defence against damaging misuses, such as identity theft and fraud, which can have severe consequences for individuals and organizations.
Leveraging artificial intelligence, UK-based startup Elemendar automates Cyber Threat Intelligence for governments and enterprises, enhancing accuracy and efficiency compared to traditional security solutions. AI’s ability to swiftly scan devices for vulnerabilities and recognize intricate patterns not easily spotted by humans contributes to more effective detection of malicious activity. Elemendar’s innovative AI translates human-authored cyber threat reports into machine-readable and actionable data, significantly reducing the time cyber analysts spend on such tasks and eliminating the “vulnerability gap.” Similarly, France-based MOABI contributes to this landscape by automating the cybersecurity process, making it more cost-effective and scalable. The startup specializes in detecting software bugs, defects, weaknesses, and vulnerabilities without needing source code, offering an efficient and proactive approach to cybersecurity.
In 2023, the global average cost of a data breach reached $4.45 million, marking a 15%increase over the past three years, notes IBM in this latest report. Notably, organizations that extensively utilize security AI and automation report an average savings of $1.76 million compared to those that do not.
As entrepreneurs continue to drive innovation at the intersection of data and societal impact, the ongoing journey holds promise for a more connected, secure, and resilient future. Through their ingenuity, data-driven startups are not just shaping industries — they have the potential to close the massive equity gap worldwide, enabling all to access critical products and services.
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- Source: https://www.eu-startups.com/2023/12/shaping-tomorrow-the-impactful-role-of-startups-in-the-data-driven-era/
