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UCL Home  /  Geography  /  News & Events  /  News  /  News Archive  /  November 2011  /  Innovation policy and the ‘London Paradox’

Innovation policy and the ‘London Paradox’

Peter Wood at Amsterdam Workshop

Innovation policy and the ‘London Paradox’

On 3rd November, Professor Peter Wood was an invited speaker at a Workshop in Amsterdam, organised by AIM (Amsterdam Innovatie Motor) and RSA Nederland (Netherlands Regional Science Association), on Amsterdam; A node of service innovation?

Following an opening speech by the Mayor of Amsterdam, Eberhard van der Laan, Peter’s paper explained how London’s knowledge-intensive business services (KIBS) have been a major source of international market-led innovation in recent years. While this had widened the economic gap between London and other UK cities, urban innovation policies in the UK continued to focus on technology, neglecting the importance of service innovation in creating such inequality. KIBS expertise also extends much more widely than the financial services that continue to exert so much political influence. The problems of relying on financial services were further illustrated by a subsequent paper from Professor Ewald Engelen (University of Amsterdam) which showed the heavy net costs to Amsterdam in recent years of supporting the financial services.


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