The central aim of the EU 2020 Strategy is to put Europe’s economies onto a high and sustainable growth path. To this end, Europe will have to strengthen its innovative potential and use its resources in the best way possible. The 2009 Digital Britain Report describes data as “an innovation currency”.  Data-driven innovation in the new Big data era, is an opportunity that Europe must leverage. This panel debate will discuss how the Innovation Union can embrace the potential for growth and job creation in today’s data-driven world.