- 19 May 2015
- CITY AS INVESTOR
“How does the city invest in the skills and businesses required for innovation” Building the local skills base for...
How does the city invest in the skills and businesses required for innovation?
A good supply of technical talent and capital is a vital ingredient in the success of any digitally enabled business. But a city government’s ability to influence the availability of talent and capital varies considerably.
Similarly, funding is primarily a private pursuit which differs in scale across cities according to the maturity of local capital markets.
And yet high-performing cities are finding ways to use the resources at their disposal to invest in the supply of talent and capital in ways that are appropriate to the extent of their powers and to local market conditions.
Those without direct control of education policy can use their influencing and matchmaking powers to work with local colleges and universities to facilitate skills transfer into early stage ventures.
And even some cities with thriving private investment markets still target funds at strategically important opportunities in order to pump-prime that part of their start-up ecosystem.
Support the provision of coding and technical skills
Support for schemes that help young people access the tech sector
Help business understand types of financing options
New York City is actively sponsoring technology apprenticeships for young people; the school district has added coding classes to the curriculum, as well as training teachers to deliver the classes.
A new Vancouver Entrepreneur Fund raises private investment to support emerging start-ups, giving the city’s tech sector a boost as it competes for talent and investment. The Vancouver Foundation also funds the Greenest City Fund with $2 million to support ideas generated by the community.
Some 30 schools in Buenos Aires are using Codecademy and the intention is to roll this out across the whole of the school system by the end of 2015, offering digital and coding skills to all students.