£5m programme to unlock the value of geospatial data
The Geospatial Commission is to invest £5 million to help its six partner bodies - the British Geological Survey, Coal Authority, HM Land Registry, Ordnance Survey, UK Hydrographic Office and the Valuation Office Agency - unlock the value of location data by making it available for analysis by private companies.
The Commission, which has a total fund of £40m, was launched late last year with the aim of driving economic growth; the Government claims better use of geospatial data could potentially add £11bn to the UK’s top line each year by allowing public and private sector organisations to develop new products and services.
Location data is an increasingly valuable tool for businesses and public sector organisations, helping them to make better decisions across a range of issues, from tackling crime hotspots or finding the quickest routes for emergency services to deciding where best to locate supply chains.
By improving the quality of key publicly held data and making it easier to access and use, the Government aims to help the private sector to develop new innovations and applications.
David Lidington, Chancellor of the Duchy of Lancaster, said: "Our modern Industrial Strategy will secure Britain’s position as a world-leader in digital innovation and this government is committed to providing more opportunities for tech businesses - including small firms - to thrive, as well as access public procurement opportunities.
"Through emerging technologies, our Geospatial and GovTech funding will elevate British companies onto a global market and help to deliver new services to improve people’s lives."