Common use of Data Innovation Clause in Contracts

Data Innovation. 1. The Parties recognise that digitalisation and the use of data in the digital economy promote economic growth. To support the cross-border transfer of information by electronic means and promote data-driven innovation in the digital economy, the Parties further recognise the need to create an environment that enables and supports, and is conducive to, experimentation and innovation, including through the use of regulatory sandboxes where applicable. 2. The Parties shall endeavour to support data innovation through: (a) collaborating on data-sharing projects, including projects involving researchers, academics and industry, using regulatory sandboxes as required to demonstrate the benefits of the cross-border transfer of information by electronic means; (b) cooperating on the development of policies and standards for data portability; and (c) sharing research and industry practices related to data innovation.

Data Innovation. 1. The Parties recognise that digitalisation and the use of data in the digital economy promote economic growth. To support the cross-border transfer of information by electronic means and promote data-driven innovation in the digital economy, the Parties further recognise the need to create an environment that enables and supports, and is conducive to, experimentation and innovation, including through the use of regulatory sandboxes where applicable. 2. The Parties shall endeavour to support data innovation through: (a) : collaborating on data-sharing projects, including projects involving researchers, academics and industry, using regulatory sandboxes as required to demonstrate the benefits of the cross-border transfer of information by electronic means; (b) cooperating on the development of policies and standards for data portability; and (c) sharing research and industry practices related to data innovation.