The Future Cities Catapult centre, which will be funded by up to £50m over five years through the Technology Strategy Board (TSB), will play a key part in the government’s industrial strategy and will showcase to the world how cities can be smarter in the future.
Madden has stepped down from his post as head of Forum for the Future, an organisation which works with cities, governments and leading businesses to innovate sustainable products and services.
It is estimated that the global market for integrated city systems will be in the region of £200bn a year by 2030 and Madden believes UK companies are well placed to take advantage of this.
“We’re living in an increasingly urban world. By helping UK companies innovate new products and services for the cities of the future, we can both benefit millions of city dwellers and give a significant boost to our economy. The Future Cities catapult will give UK businesses a real cutting-edge in this area,” he said.
The Catapult will work closely with Glasgow city council, which recently won £24m of government funding for a future cities demonstrator. The demonstrator will work alongside the London-based Catapult to make sure there are opportunities for innovative UK businesses to develop integrated urban solutions that can be sold to cities across the world.
Conor McGlone