MARKET CREATION IN FUTURE CITIES – BARRIERS AND OPPORTUNITIES
DR CATHY MULLIGAN, HEAD OF DIGITAL STRATEGY AND ECONOMICS RESEARCH FELLOW, IMPERIAL COLLEGE LONDON @API_ECONOMICS
WHO WE ARE & WHAT WE DO 2
THE CATAPULT FAMILY SEVEN WORLD-LEADING INNOVATION CENTRES MAKING CONCEPTS COMMERCIAL TAKING UK INNOVATIONS TO THE REST OF THE WORLD
OFFSHORE RENEWABLE ENERGY Glasgow
HIGH VALUE MANUFACTURING AFRC - Strathclyde CPI - Wilton/Sedgefield AMRC & NAMRC - Rotherham WMG - Coventry MTC - Ansty NCC - Bristol
TRANSPORT SYSTEMS Milton Keynes
CONNECTED DIGITAL ECONOMY London
FUTURE CITIES London
CELL THERAPY London
SATELLITE APPLICATIONS London
THE FUTURE IS URBAN
GLOBAL URBAN GROWTH
RESOURCE PRESSURES
AN OLDER AND FATTER WORLD The number of people aged 80 years and older will
quadruple to 395 million between now and 2050.
Obesity is a greater burden on the UK’s economy than armed violence, war and terrorism, costing the country nearly £47bn a year.
A MORE CONNECTED WORLD
Of all the data ever created in history, 90% was generated in the last two years 26 billion
devices will be on the Internet of Things by 2020
THE FUTURE IS URBAN…
FACILITIES
CENTRAL LONDON INNOVATION CENTRE Housing our Cities Lab: a facility for business, SMEs, cities to do data analytics, modelling, visualisation To provide evidence, support innovation & help unlock the market
BUILDING DIGITAL STRATEGY IN CITIES
• Building a series of demonstrator test-beds for IoT in cities
• Creating the world’s first database of economic impact of IoT in cities
• Proving the market exists and that the economics are viable for SMEs and cities alike
BUILDING DEMONSTRATORS
• Two main types of test beds are required: • Experimental city test beds • Smaller test beds that allow SMEs to
illustrate their capabilities
STANDARDS ARE
AN IMPORTANT
PART OF MARKET
CREATION
…BUT IT FACES CHALLENGES
THE FUTURE IS URBAN…
MALAYSIA
SYDNEY
INDIA
LOCAL
NATIONAL
INTERNATIONAL
KEY INSIGHTS
• Every nation (and city) seems to think they will lead in market creation! • Europe will need to work together – there will be no smart Oulu, Helsinki,
etc… without a smart Finland (and Europe) • Procurement is key to creating a regional market • European-wide, nation-wide and city-wide investments need to continue/
increase • Standards that link built environment with technology are required that protect
privacy, enhance security and create trust • Smart technologies will balance environment, economy and society – not
focus on one • It’s not just about technology but integrating several distinct markets –
complex markets! • Markets will be multi-sided, not two sided • True Smart City Market Creation requires rebalancing of local and global
production