GDPR Applies to Your Startup, Too
Startups often operate in regulatory grey areas, with many founders preferring to execute now and ask for forgiveness from regulators later. However, growing startups can be sanctioned, even retroactively. For successful startups, it can be just a matter of time before a GDPR compliance audit comes.
And if you are a startup seeking investors, they often view poor GDPR compliance as a red flag, putting fundraising at risk. Reports of noncompliance can be made public, causing a PR nightmare.
To get started with your GDPR compliance at your startup, consider using a data protection impact assessment. This is a process to identify data compliance and security risks. The DPIA is usually the responsibility of the data protection office or head of privacy. The DPIA usually can be done in less than a day for straightforward projects and can take weeks for more complicated jobs.
Startups also should consider how to maintain their GDPR compliance after the initial DPIA. Either they need to hire staff to process highly sensitive data, or they can rely on third-party data security and privacy experts early on. Moving forward, you will need to work closely with the product team to ensure that data compliance is a priority, not an afterthought.
Do not let GDPR or any of your other regulatory obligations bring your startup down. 2W Tech’s Cybersecurity Compliance Program will get you in compliance no matter the industry you’re in. Contact us today to get started.