Open Contracting, a project to encourage the open publication of public sector contracting data, is establishing a data standard for contracting and procurement data (http://standard.open-contracting.org/). Much of this work has been done by the prolific and highly talented Tim Davies, who is breathing life into the standard.
As more and more public money is directed to companies, it becomes increasingly critical to ensure this money actually meets the needs of citizens; better data has the chance to deliver new insights into the trillions of dollars spent by governments every year.
Our blog sets out four reasons why we’re strong advocates of the standard: https://openopps.com/blog/post/11/why-the-open-contracting-data-standard-matters/.
Update: details of the Open Contracting Partnership’s funding arrangements are here: http://www.open-contracting.org/our_transparency