Future cities market is waiting for UK to “take advantage”

The UK has a rich ecosystem for urban innovation that positions the country to take advantage of the £200 billion global future cities market, claims a new report.

The document, How Can The UK Innovate For The World’s Cities, charts the scale of the UK’s urban capabilities and ecosystem of innovators developing products and services that improve the way cities plan and operate.

The Future Cities Catapult, which compiled the report, claims future cities activity is already worth over £16 billion to the country and predicts this number to grow.

“The UK already has an incredible number of individuals and organisations working to improve the future of our cities,” claimed the Catapult’s chief executive Peter Madden.

“Building on this rich ecosystem – of architects, engineers, data scientists, designers, ethnographers, planners, urbanists and many more provides an incredible opportunity for the UK to create more jobs, more revenue and to help solve some of the world’s most pressing problems,” he added.

“Technology must be used in the right way”

The report argues that technology cannot resolve all a city’s problems and it shouldn’t be asked to – but using it in the right way can vastly improve quality of citizens’ lives.

It claims future cities have the potential to increase prosperity and improve quality of life, adding there is a great amount of innovation right within the country itself.

The Future Cities Catapult is one of seven “Catapults” launched by the UK’s Technology Strategy Board, which aims to be a world-leading innovation centre in their own specialist area.

The organisation in question is focused on urban innovation, investigating how modern cities can take a joined-up approach to the way they plan and operate.