Text and Data Mining (TDM) is an inventive approach for analysing and extracting new insights and knowledge from the exponentially growing world of machine-read material, known as Big Data. TDM techniques and tools enable researchers from different disciplines to exploit datasets of increasing complexity and diversity from various forms of media. However, the present use of TDM tools across Europe is significantly lower than some countries in the Americas and Asia, likely due to limitations imposed by the European legal framework. As such, the FutureTDM project identifies and reduces the barriers that inhibit the uptake of TDM for not only researchers, but also innovative businesses. FutureTDM provides critical up-to-date assessments of legal regulations and policies on TDM within the EU, while maintaining an international scope of the competitive world of Big Data exploitation. Such assessments will lead to the development of novel policy frameworks and interdisciplinary case-driven practitioner guidelines to facilitate the spread of TDM activities. The project also creatively integrates contributions key stakeholders. Furthermore, the acquired knowledge base from both quantitative and qualitative research will be incorporated into a web-based Collaborative Knowledge Base and Open Information Hub using insightful and intuitive visualisations. On a European scale, this dynamic collaboration platform will serve as a one-stop resource for current and future TDM practitioners from various disciplines to ensure a broader uptake of TDM to boost Europe’s research and innovation capacities.