alt.cmd: Everyday innovation for London’s future

Business Improvement Districts (BIDs) have a vital role to play in seeking to offer solutions for a new model of governance that will embrace innovation while ensuring inclusive, sustainable growth. While the UK regulatory environment often stifles the innovative potential of start-ups and small businesses, governance sandboxes provide a space that enables innovation and diversity of activity. Much of the analysis surrounding the UK’s productivity problem points to the lack of investment by UK companies in new technology, which has a negative impact on the wider economy. The benefits of the rapid innovation surrounding us have therefore not filtered down to a civic or neighbourhood level. BIDs can help redress this balance by using non-traditional avenues and applying the BID framework. Camden Town Unlimited (CTU), a London BID, has previously pioneered new models of inclusive growth through Camden Collective and the Camden Highline; a governance sandbox — ‘alt.cmd’ — is CTU’s latest venture intended to give people the freedom to create a more democratic and inclusive future. Ultimately, innovation can only be inclusive with the support of the local community. For that reason, alt.cmd brought individuals and business leaders in the community together to propose radically innovative ideas to tackle everyday problems. This ‘ideas lab’ focused on four areas: finance, data, governance and economy, resulting in four key initiatives which alt.cmd is now taking forward: a ‘Smart Covenant’, which captures the value increase to private property resulting from public projects to create new potential funding models for public infrastructure projects; an ‘Improve my Street’ participatory crowdfunding model to help people organise, ensure fair contributions, and deliver a shared vision for the community; ‘Smart Noise Licensing’ for temporary events to improve the way noise is measured, managed and mitigated; and ‘Rooftop Planning Rights’ — data-driven planning permission that aims to unlock work and living space on top of existing buildings. Communities already have the tools they need to harness the creative potential of businesses and entrepreneurs. Doing so could not only help to address low productivity, but could do so in a sustainable and affordable manner — partnering with the private sector for the benefit of local communities.