In light of a recent report accentuating the value of the Geo Services sector, Ordnance Survey (OS) have opened up a pioneering London based data location lab to support entrepreneurs and small businesses.
Embarking on a project to help start-ups, the government owned national mapping agency have launched their Geovation Hub; using their own expertise in location mapping and centuries of data.
On a daily basis Ordnance Survey impacts not only on the government but also on individuals and businesses.
Their recent press release states that people often underestimate their impact, 'believing they only encounter mapping data 2.8 times a day’ and that many are ‘unaware of ways mapping data is used’ for the health service, public transport, computer games and everyday activities.
Nigel Clifford, CEO of Ordanance Survey states in a video that ‘nowadays everyone is carrying around a GPS device in their hand'.
'If you think about the average person, their day, their geospatial data is present every single minute from the very moment they wake up’ and use their device'.
On the 24th July, a new economic study revealed that Geo Services in the UK are now valued at £2.2bn and predicted to increase to £3bn by 2020/21. It also revealed that there are 146,000 people employed within the Geo Services sector as a whole.
The impact of Geo Services on the wider UK economy is also significant, estimated at £25.9bn for 2013/14 with a predicted rise to £36bn over the next 6 years.
Clifford states that their aim with the Geovation hub is to ‘create the atmosphere for entrepreneurs to succeed’ stating that ‘Ordnance survey was in fact a start-up, it started with £373, 3 people and a huge idea’.
The 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.’
The Geovation Hub aims to offer entrepreneurs the chance to access the immense bank of geospatial expertise and data available from OS, nurturing a new generation of tech start-ups:
‘People come here with an idea which somehow connects with location, we’ll help them apply our data, our know how, to make that idea really come alive’, says Clifford.
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