Ernst & Young (EY) has chosen seven tech startups that it wants to work with to develop technologies that could help its clients comply with the newly-introduced “right-to-be-forgotten” law.
Under this so-called "right-to-be-forgotten", companies could be forced upon request to remove results for queries that include a person's name, if the results shown are inadequate, no longer relevant, or excessive. EY believes this right will increase consumers’ awareness of their rights to their own data and will mean that businesses will need to consider issues around reputation management, consumer trust, compliance and operational efficiency.
The seven shortlisted companies are: Exonar, Mentat Innovations, MyGravity, Privately, Sedicii, Yambina and QoiD. See below for more information on each of the startups.
Through the EY Startup Challenge, announced in September, the professional services giant said it will help startups over a six-week period, starting today, to develop technologies that can be honed and tailored to respond to the business impacts of this topic.
EY said the shortlisted firms will receive: access to EY clients and potential customers; mentoring and guidance from EY and its clients; workshops; and access to EY’s wider business, including advisory, tax, accounting and corporate finance, as well as access to EY’s entrepreneurial networks.
The winner will receive a secondment of an "experienced" EY professional to provide ongoing, hands-on support and longer-term access to EY’s network, resources and expertise.
Robert Walker, lead advisory partner for EY’s technology, media & telecommunications sector, said: “We have been overwhelmed by the level of applications and the calibre of tech startups that have chosen to come forward and apply for this programme.
“Businesses have already told us they need access to more innovative expertise to help develop new technologies to respond to the changing regulatory landscape.”
EY designed the programme in conjunction with innovation specialists, Pivotal Innovations, based at Level39 in Canary Wharf.
Eric Van der Kleij, head of Level39 and director of Pivotal Innovations, said the seven finalist companies deal with the "right-to-be-forgotten" challenges in different ways.
He added: "By working with an established firm such as EY, the growing companies will gain access to a treasure chest of contacts and resources that would have otherwise remained difficult to reach.”
- Exonar – www.exonar.com – Exonar allows organisations to understand what information is important, where it is, and who has access to it
- Mentat Innovations – www.ment.at – Mentat is building a real time machine learning infrastructure SaaS product
- MyGravity – www.mygravity.co – MyGravity provides consumers a view of their digital self and provides companies a platform of services, products and technology to better use consumers’ data
- Privately – www.privately.eu – Privately provides a platform that gives privacy to end-users by allowing them to delete social media posts from circulation
- Sedicii – www.sedicii.com – Sedicii allows identity confirmation without having to reveal personal identifiable information
- Yambina – www.yambina.com – Yambina’s Enterprise Data Management provides tools for mapping data sources, applying data transformations and applying rules to data and managing exceptions
- QoiD – www.qoid.com – QoiD provides a secure method for customers to manage and control access to their information stored with someone they trust or self-host