Utilizing data to foster competitiveness is a crucial and challenging task for cities and territories. This paper presents the results of our research, which aimed to answer the following two questions: Which artifacts drive the competitiveness of innovative territories? How can we obtain the greatest value from data to reinforce competitiveness in smart territories? Based on previous research, we propose a methodology for developing a data strategy as part of smart territories’ efforts. We validate our approach through the application of the methodology in Puerto Salgar, Cundinamarca, Colombia. This paper presents the development of the proposed solution, and the results and lessons learnt from the validation. Our contribution is the design of practical artifacts to enhance the competitiveness of smart territories based on data usage, organized into a component named Data Strategy for Smart Territories’ Competitiveness, as well as the process that demonstrates local stakeholders’ appropriation of key knowledge areas.