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