Partner Article

Ordnance Survey launch Geovation Hub to support entrepreneurs

The early headline findings from an economic study released today shows Geo Services in the UK are now valued at £2.2bn and forecast to increase to £3bn by 2020/21. To support entrepreneurs and small businesses using location data, Ordnance Survey are today opening their Geovation Hub, Britain’s pioneering location-data lab.

Geo Services in the UK are valued at £2.2bn with a forecast to increase to £3bn by 2020/21. There are 146,000 employed within the sector

For the wider UK economy, the impact of Geo Services is significant, estimated at £25.9bn for 2013/14 with a predicted rise to £36bn over the next 6 years The total includes £4bn in defence, £2,7bn to security, £2.3bn ICT (information and communications technology), £1.7bn to leisure, and £1.7bn to insurance. The Geo Services industry has a surprising social impact, such as a 50% improvement in patient transport services due to data benefits. The economic study also found that 12% of 2013/14 Geo Service revenues came from new products. This compares to an average of 5% for many other industries. To support these new businesses using location data, Ordnance Survey are opening their Geovation Hub, Britain’s pioneering location data lab offering entrepreneurs the chance to access the immense bank of geospatial expertise and data available (including OS OpenData). On a day to day basis Ordnance Survey has a huge impact on individuals, businesses and government but research suggests that we underestimate this, with people believing they only encounter mapping data 2.8 times a day and many unaware of ways mapping data is used for ambulances, insurance companies, bus routing, computer games and home utilities including water, gas and electric.

Watch our video with some of the first SMEs that have signed up to the Geovation Hub and Nigel Clifford – Ordnance Survey CEO

This was posted in Bdaily's Members' News section by Broadcast Exchange .