1. The Lab and the Street
Tom Campbell
Associate
Global Cities
2. Who we are
• Economic Development
• International
Communications
• Place-branding specialists
3. Characteristics of
Knowledge Economy
• High levels of education and skills
• R+D investment
• Defensible IP (patents, trademarks)
• Collaboration with research base
• Formalizing and solving problems with
proven market need
• Well understood processes and metrics
• Market structure dominated by large
corporations
4. The Creative Industries is an
essential part of this
• High levels of education
• Prosper in developed economies (6% of GVA in
the UK)
• Strongly linked to technological advances
• Value lies in IP and human capital rather than
physical capital
5. But with distinct characteristics
• Industry dominated by small and ‘micro’ (<10 employees)
businesses
• Workforce characterized by freelancers, consultants, agents,
entrepreneurs
• IP is increasingly difficult to protect
• ‘Nobody knows anything’ – very difficult to predict success
• Market led by new fashions, tastes, trends, styles (e.g. music,
fashion)
• Strong emphasis on informal knowledge (‘the street’)
6. So… implications for growing a city’s
creative economy
You need “the Lab”:
• Excellent education institutions (especially universities) which
are open to collaboration
• Cultural institutions: museums, libraries, galleries
• Sound regulatory and IP framework
• Investment in R+D
7. But you also need ‘the street’…
• Wide diversity of cultures, styles, approaches
• Openness, tolerance, freedom to create and dissent
• Strong business support and start-up culture
• Affordable workspace
• Opportunities to network and share ideas (festivals,
events)
8. London’s Strategy has been to encourage
both…
• Encourage diverse populations to enter into creative industries
• World-class institutions, but also support for workspace,
business support, access to finance
• Encourage universities to become drivers of enterprise as well
as research/learning
• Strong focus on showcasing, promotional events and links to
international markets
• Planning to encourage independence, small retail, café culture