The innovation economy is proving to be a huge disruptor and opportunity for cities, businesses and the real estate sector.
Cities around the world are seeking to accommodate the needs of a new generation of technology powered industries and firms, whose innovation model depends on proximity and whose talent pool explicitly prefer urban locations and lifestyles. Such cities are motivated to host a larger slice of this innovation economy in order to grow a new base of jobs, adjust to the process of industrial change, or to leverage technology for the big challenges of sustainability, resilience, and social cohesion. Many are trying to raise their innovation profile by focusing investment and promotion on new ‘innovation districts’, locations within their city where the innovation economy might cluster and concentrate.
Source : ULI