INNOVATE: Hub could generate £90bn every year
Business Secretary Vince Cable has opened a new transport innovation centre in Milton Keynes, aimed at revolutionising the worldwide movement of people and goods.
The ‘Imovation Centre’, a nationwide hub for smart transport technology, is targeted to generate up to £90billion per year for the UK by 2025 by making journeys ‘more seamless, smart and efficient’.
Operated by the Transport Systems Catapult, the Imovation Centre is a collaboration space for innovators, entrepreneurs, research organisations and businesses.
It will also offer modeling and testing facilities, allowing new products to be properly trialed and demonstrated.
The centre aims to position the UK as a global leader in intelligent mobility products and services, from driverless vehicles to integrated logistics, sentiment mapping and smart traffic lights.
Mr Cable said: “Britain has a long history of transport innovation; from the shipbuilders who paved the way for globalisation, to the railways that underpinned the industrial revolution.
“This new innovation centre will ensure the UK is well placed to profit from the increased demand for high-tech transport solutions – creating jobs, supporting businesses, and driving economic growth.”
Steve Yianni, Chief Executive of the Transport Systems Catapult, added: “Intelligent mobility harnesses new technologies to create seamless journeys, where transport is smart and connected, and delays and congestions are a thing of the past.
“The Imovation Centre will take the brightest solutions to the most pressing transport challenges, and help make those ideas a commercial success.”