The Industrial Data Space aims at establishing a virtual data space in which partners in business ecosystems can securely exchange and easily link their data assets. The presentation puts the Industrial Data Space in the context of recent developments in the area of Smart Service Welt and Industrie 4.0 and sketches a reference architecture model and functional software components. Furthermore, the presentation introduces the Industrial Data Space Association which institutionalizes the user requirements and drives standardization. The presentation was given at the Industry 4.0 session at MACH 2016 on April 14, 2016, in Birmingham, UK.