Licence to Share
What is the public demand for Smart Data?
Today we launched our new report, Licence to Share, our latest intervention on how the Government can bring Smart Data to life in the UK.
With the Data Use and Access Act now in force, there is a clear opportunity to build on the progress made through initiatives like Open Banking to meet consumer demand and supercharge startups across the UK.
This latest report aimed to capture both public sentiment and the current state of Smart-Data-driven entrepreneurship, so that policymakers and industry can make informed decisions about what comes next, with a new Smart Data Roadmap on the horizon.
What the Public Told Us
Working with Public First, we commissioned nationally representative polling to explore how people feel about sharing their data and what they expect from services that rely on it.
The findings show a public that is generally open to responsible data sharing, provided their privacy is protected and the benefits are clear:
70% of people say they share their data “some of the time” or more.
65% want their data to move more easily between the services they use.
Support for secure, limited company-to-company data sharing stands at 46%, compared to 22% opposed.
62% of respondents feel they lack sufficient control over how their data is used.
The top concerns are privacy (54%), security (52%), and lack of clarity about benefits (41%).
Trust remains highest in financial services providers (80%), followed by government departments (73%) and energy suppliers (69%).
Younger respondents (18–34) are the most willing to try new Smart Data driven services, while older groups express greater caution.
However, many people still feel uncertain about how their data is used. This reinforces the need for clear guardrails and trusted systems, all of which directly shape whether Smart-Data-enabled products can achieve broad adoption.
Mapping the Smart Data Startup Landscape
A significant part of our work involved building a picture of the UK’s Smart Data startup ecosystem. Analysing data from Beauhurst, we identified:
214 startups operating in Smart-Data-enabled markets.
£3.2 billion in cumulative fundraising across these firms.
An estimated combined valuation of £5.4 billion.
There is a heavy concentration in financial services., which accounts for the majority of overall sector value.
Open Finance’s relative maturity demonstrates a key principle: when the government sets clear, pro-competitive data access rules, startups respond with products that attract users, investment, and growth. This is an important lesson as Smart Data expands into new sectors.
The Interoperability Opportunity
One of the strongest messages from stakeholders across our research is that interoperability, meaning consistent data standards, shared formats, and predictable access, is foundational to delivering Smart Data in a way that works for startups and the economy as a whole.
The Government has started to explore this through the new Fuel Finder initiative, with drivers now able to compare real time pricing to avoid getting ripped off. The same principle of real time data exchange should be employed across Government for efficiency and accessibility.
What Should Happen Next
Our intention is not to dictate outcomes but to highlight the conditions that will allow Smart Data driven innovation to thrive. Based on our analysis, we believe the government should take the following steps:
Utilise the powers in the Data Use and Access Act to achieve its policy objectives, such as in the event ticketing and driving lesson sectors.
Explore opportunities in retail and transport, where structured data access could support new consumer-facing tools.
Develop a cross-economy governance function to set standards and maintain trust, something that is especially important for early-stage firms that depend on predictable frameworks.
Why This Matters for Startups
Smart Data is fundamentally an economic enabler. For founders, it means a level playing field, smoother access to markets, and reduced friction in building and scaling innovative services.
For investors, it provides clearer signals of where new markets may emerge. For consumers, it offers greater control and more responsive products.
Our goal with Licence to Share is to ensure that Smart Data implementation reflects the needs of the startup community and builds on the UK’s existing strengths.
With the right structures in place, Smart Data can help create a more dynamic, competitive, and consumer-focused economy, and we look forward to continuing this work with government, regulators, and industry partners.