New Partnership between Future Cities Institute and M Institute
Future Cities Institute (FCI) today announced its partnership with M Institute, the UK’s leading think tank on issues relating to mid-sized businesses. This partnership aims to empower mid-sized companies to participate fully in growth opportunities in the digital world.
As a result of the partnership, cities governments focusing on innovation and growth will be able to build specific policy, planning and economic development strategies that include the full participation of mid-sized businesses in their local economies. In addition, these mid-size companies will be supported to participate in programmes that enhance their international growth opportunities through greater integration with the increasing open and interdependent global mosaic of cities based innovation ‘hot-spots’ around the world.
The Future Cities Institute believes that cities are the engines of national economies, and in the power of people in local communities to create and sustain cities as great places to live and work. A core driver in this successful urban economic growth is mid-sized companies with between 100-500 employees. Recent research in Asia Pacific by the Metro Group of Polytechnics (New Zealand), has shown that on average mid-sized companies are the most productive in an economy, spend considerably more on R&D than smaller ones, and are more intensively innovative.
Based in the UK, M Institute is a leading think tank which focuses on the challenges and opportunities facing mid-sized businesses. It has played a key role in establishing the powerful, though often invisible role, that mid-sized businesses play in the economy. In the UK, although medium enterprises are a tiny fraction of the businesses population in the UK, their contribution to such metrics as share of employment and contribution to profits, are well over 20% above the average of the national economy.
“It is because of the key role that mid-sized businesses play in the development and sustainability of local economies that The Future Cities Institute is excited about this partnership with the M-Institute,” said Malcolm Fraser, Chief Executive Officer of FCI.
“Together with our other global knowledge partners, such as the World Bank’s Urbanisation Knowledge Platform, we see this this partnership as a critical element in working with city, regional and national governments, academia and industry to stimulating discussion and knowledge on the development of national competitiveness and local innovation via mid-sized company success and internationalisation. ”
Director of the M Institute, Jyoti Banerjee believes that as growth becomes more elusive around the world, the focus among policy-makers, businesses and citizens alim, we see this this partnership as a critical element in working with city, regional and national governments, academia and industry to stimulating discussion and knowledge on the development of national competitiveness and local innovation via mid-sized company success and internationalisation.
“We are pleased to partner with Future Cities Institute as we feel our respective strengths are amplified when we work together. We need mid-sized businesses to be properly understood, celebrated and let free to do what they do best: build economic value. We feel our joint platform with Future Cities Institute will enable the essential thinking in this area to be carried out, and built into the working of city communities worldwide.”
M Institute is a not-for-profit knowledge organisation, with the objective of highlighting the opportunities and positioning of medium-sized businesses. Based in the UK, M Institute carries out research on the performance opportunities, challenges and hurdles facing mid-sized businesses. It works with policy-makers so that they provide the best environment for these businesses, and with the leaders of the businesses so that their organisations perform at the peak of their potential.