The digital transformation resulting from the implementation of Industry 4.0 changes the current IP management and understanding of the use of digital data. Data and algorithms using open source code increasingly serve as a foundation for the creation of added value in the digital economy. Data is not only considered a by-product of business activities anymore, but a strategic resource that constitutes the basis for developing and offering novel digital products, services and business models. Many of these business models will be based on the analysis and evaluation of machine generated data. Data can be valuable in economic terms and can assure a competitive advantage to those possessing them. European manufacturing SMEs do not know well how to protect and monetize digital IP and provide added value using their intangible assets such as data, methodologies, configuration of interconnected systems, 3D designs, processing algorithms. Moving towards a data-driven approach, embedded software into hardware, new questions arise concerning data sharing, data driven innovations, legal digital IP protection and data ownership. These new challenges of the European digital economy hamper inbound open innovation/IP sourcing in European manufacturing SMEs. Project Go-DIP will address these challenges with raising awareness of digital data and software IP value and positively impact IP management of up to 100 manufacturing SMEs in three Alpine innovation systems. SMEs will be able to better incorporate the software and data IP management systems into their business strategies and boost digital innovation. Valuating, monetizing data and software IP will be addressed through the use of practical cases of 60 SMEs directly involved. Guidelines, templates and cases will be developed in the Design Option Paper (DOP) using the EASME Twinning plus methodology. Results will be widely communicated and disseminated by partners and organizations supporting project Go-DIP.