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The Industrial Data Space® enables companies to exchange data with other market participants in a regulated and self-determined manner without the data providers having to disclose their sensitive or profitable data (data sovereignty). On the other hand, data users can gain access to data that would otherwise be inaccessible to them and generate added value. The Industrial Data Space® initiative was launched jointly by parts of the Business Studies, politics and research sectors in Germany. It aims to establish both the development and use of the Industrial Data Space® on an international level. While twelve Fraunhofer Institutes are creating the technological solution within the framework of a reference architecture model in the BMBF-funded research project, the Industrial Data Space Association bundles the interests of users in industry, services and trade. In particular, the association identifies user requirements, promotes standardization and enables companies to use data as the basis for business models on a new scale.