Urban Innovation and Investment

The international finance institutions such as the World Bank, European Bank for Reconstruction and Development (EBRD), and the European Investment Bank (EIB) invest significant amounts in cities around the world. However, in 2014 there had been no comprehensive attempt previously to understand the nature of this urban investment, and how it was evolving or might need to change to address the opportunities and challenges facing cities into the future. 

Whilst working as the Executive Director for Integrated City Systems at the Future Cities Catapult, Disruptive Urbanism Founder Paula Hirst oversaw the research and publication of the first ever report on urban investment by international finance institutions and development banks including the EIB, EBRD, CDC, World Bank in Dec 2014 entitled Urban Innovation and Investment. This report was informed by both desk based research and interviews with senior investment officers at the various institutions, as well as a roundtable hosted at the City of London in May 2014 chaired by Paula, and launched in December of the same year. 

This research formed part of the overall development of the market development programme of the Future Cities Catapult to stimulate demand for 21st century solution to challenges facing cities, including developing proposals for city project development services, challenge based procurement approaches, new investment structures and financial instruments for city investment, and the development of new, and adaptation of existing business models to understand value creation and capture for products and services which are fit for the future. This programme was led by Paula, who also lead the Catapult’s relationship and engagement with investment funds, intermediaries, law firms, and the Green Investment Bank.