Statice generate privacy-compliant synthetic data
How did you get the idea of Statice?
In our growing customer-centric economy, innovation begins with understanding people. Businesses partly do this by measuring, tracking, and storing personal data on individuals in order to quantify personal preferences and use this knowledge to tailor experiences and products towards each customer individually. Personal data is the core source of modern services and products and serves as the most important resource for the majority of modern technological advances and discoveries. This does not only hold for scientific settings but also for corporate research and development.
It started a couple of years ago by asking ourselves why businesses in the healthcare sector didn’t cooperate more to build better services and give better care – the big problem was always personal data and the risk of data leaks.
Why did you decide to start with Statice?
As anonymous data is exempt from data privacy regulations, we decided to build Statice to protect individuals on the one side and empower data-driven innovation and collaboration on the other side.
What is the vision behind Statice?
At Statice, we believe in two major trends. First, data privacy is becoming an increasingly important asset for businesses in order to provide trust. Second, innovation will build on collaboration across players and data as a main resource.
How difficult was the start and which challenges you had to overcome?
Customers education is something we are investing in a lot. Data privacy is a fairly new area. The terms, techniques and approaches are not as established as in cryptography, for example. Different people have different understanding of what “anonymous” data is. For some – it’s pseudonymization, for others it’s aggregation. The concept of privacy is itself tricky and new to humans.
Who is your target audience?
B2C companies that process and analyse customer data, such as banks, insurance companies, or businesses in the healthcare, telecommunications and mobility sectors, for instance. Our solution is custom-tailored to each of the businesses we work with in order to fit their needs and use cases.
What is the USP of your startup?
At Statice, we generate privacy-compliant synthetic data — new artificial data that can be used and released without ever compromising the personal privacy of any individual. As opposed to only treating so-called sensitive data, Statice assumes that all data attributes are sensitive and can be traced back to an individual. Using machine learning, a new dataset is generated which contains the same statistical and structural values as the original data, maintaining the value for sharing and using the newly generated synthetic data.
Can you describe your typical workday?
At Statice, we do as we preach. We not only enable cooperation for other businesses, but it is ingrained in our own daily work as well. One example of this would be our daily meetings where each member of the team lists their priorities and challenges of the day. This way we can collaborate better and stay task focused. We aim to stay on top of the latest developments and research in the field, which created a culture of knowledge sharing on a daily basis. We are lucky to have a highly driven team with a thirst for knowledge, which directly contributes to our company’s ability to provide top innovation to our customers.
Where do you see yourself and your startup Statice in five years?
We see data privacy becoming a norm and hope that Statice will be one of the pioneers in this development.
What 3 tips would you give to founders?
Focus on what is really important
Scale the organization timely
Constantly seek feedback and iterate on different levels
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Thanks for the Interview
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