Data protection is often a vexed topic for companies, but it shouldn't be taken lightly. Especially since a regulation comes into force this year that could prove costly for companies if they don't comply. The team at ECOMPLY.io wants to help companies prepare for the General Data Protection Regulation as easily and reliably as possible. You can find out all about it in our seven questions.
1. Who are you and what do you do? Please briefly introduce yourself and your product!
We are ECOMPLY.io, the new Munich-based startup in RegTech and LegalTech. In May 2018, the General Data Protection Regulation (GDPR), which presents all companies in Europe with new challenges in handling personal data. We are developing the ECOMPLY eDirectory — the data protection management system for medium-sized businesses — precisely for this purpose.
We, the founders, are Hauke Holtkamp (35, TUM, M.Sc. Communication Networks, TÜV Data Protection Officer) and Aazar Ali Shad (27, TUM, Consumer Affairs). We met last summer in the network of LMU Entrepreneurship Centers and have been working on ECOMPLY since July 2017.
Small and medium-sized businesses lack trained data protection personnel
2. But that's been around for a long time!
There are complex, complicated data protection management systems on the market that are used in large companies, where experts in the legal departments devote themselves to the topic full-time. However, in medium-sized companies, data protection is usually a part-time issue for which trained staff are lacking. This is precisely where ECOMPLY comes in: our cloud software guides users (who are inexperienced in data protection) through the necessary steps to achieve GDPR compliance.
In addition to Hauke being the data protection officer himself, we have a partnership with the company rehm Datenschutz, which tests our product weekly from a data protection perspective.
3. What has been your biggest challenge so far?
To attract enough good software developers for ECOMPLY.
4. Let’s get down to business: How is business going?
We actively receive inquiries every week from companies looking for software like ours. We currently have six companies in closed beta.
Market leader in ten years
5. What does Munich mean to you?
Munich became our home during our studies and beyond. The startup scene is very stable and diverse. Of course, Munich costs a bit more. But you can also build a startup in the compliance field here, which might be too uncool in Berlin.
6. How will your startup become the next unicorn? Or will we see you soon at Epic Fail Night?
In the long term, data protection management systems are a prerequisite and enabler of data portability. In ten years, we aim to be the market leader in data protection management systems and a trendsetter in data portability.
7. Bavaria or '60?
Pakistan Cricket Team & Manchester United!
