The firstHiT World Innovation
Summithas been launched in Barcelona this
week, with IT developers in mobile technology, green IT and
healthcare IT fighting to grab the venture capitalists brought in
to view the technology beauty contest taking place.
The summit will become an annual event in Barcelona and is
taking place at the same venue used by the growing
3GSM Mobile World
Congress.
As mobile innovation makes up one of the three streams deemed by
the organisers as the most important for ICT vertical market
growth, mobile industry body the
GSMA is backing the event and putting forward possible targets
for venture capitalists.
Other companies in health and green IT are similarly competing
for funding by being given scheduled pitch time in front of the
hundreds of delegates.
No mobile UK presence
Disappointingly for the UK though, no companies from these
shores are being given the opportunity to show off their mobile
wares in this way.
This might be surprising for some, considering the UK spawned
key mobile players Vodafone and O2. The GSMA judges have selected
no UK firms as part of the 10 pitching in the European contest.
Andy McGuire, vice-president for mobile innovation, told
Computer Weekly, "We received a total of 75 entrants for the
competition, but no UK companies made it."
He said 15 of these entries were weeded out by the GSMA before
being passed to the judging panel, on the grounds that they were
not thought out properly or did not have any business case. But
from the 60 remaining, no UK firm was allowed to step up to the
pitching and funding platform at HiT.
Mobile innovation
competition
Two winners from the process will be entered into a world
mobile
innovation competition at next year's 3GSM Mobile World
Congress in Barcelona. The winners will be announced tomorrow.
The UK has not fared much better in the Global Entrepreneurship
Competition also being held at HiT. Just one company from the 24
final entries is from the UK - drilling and refinery oil clean-up
firm Surface Active
Solutions.
In the Green IT competition category
Liberty Electric Cars
is pitching its zero emission 4x4 luxury vehicle system, the Range
Rover Vogue, as one of 12 competitors.
Green technology gaining
popularity
One of the busiest sessions at the conference addressed the
current investment market in green IT, or "Cleantech" to give it
its proper show moniker.
Douglas Lloyd, CEO at Venture Business Research, told session
delegates, "In 2009, investment levels are bleak. The size of
finance is down and there is a reduction in risk taken, with
greater numbers of companies forming consortia together to spread
risks."
Of those sectors still attracting green IT/Cleantech finance,
Lloyd said wind energy, energy storage, smart grids and energy
efficiency were the prime markets to be in for venture
capitalists.
Nigel Grierson, managing director of Doughty Hanson Technology
Ventures, said, "It is a series of ups and downs in a still growing
market. The politicians have done a good job in getting public
support for green technology."
When asked why utility firms were so slow in introducing
smart meters in customer homes, Grierson said, "Smart meters
would be better if they could be used to measure exactly what power
was being used by which appliance, so consumers could make
decisions on how to cut power.
"Just reducing the number of times a man has to come to the
house to read the meter is not going to change the world."
He said itemised phone billing was a good example in how to give
consumers the power to change usage. He said, "Years ago, I would
get one basic bill for around £130, then when my son became a
teenager it went up to about £400. But I could not stamp on the
usage until I had an itemised bill."
Healthy UK healthcare
representation
The UK is relatively well represented in the healthcare pitching
competition, with Diabetology and ValiRx getting a potentially
valuable platform among the 14 companies chosen.
Diabetology has developed a proprietary oral delivery system to
administer known bioactives and novel compounds for the management
of diabetes. ValiRx develops technologies for the analysis and
treatment for cancer and other diseases.
Spain an innovative
country
Barcelona is understandably delighted with its selection for the
HiT event, and is using it to parade its current city-wide
technology innovation projects as an opportunity to aid further
growth.
Barcelona mayor and HiT president Jordi Hereu, said, "The
ability to get out of this economic crisis lies in the market's
ability to generate new areas of growth in emerging sectors, such
as biotechnology, telecoms and clean energies.
"HiT brings together experts in innovation, entrepreneurs and
investors to drive this aim forward."
Research by Forrester has revealed the
attractiveness of Spain as a destination for IT services work.
Spain's IT services industry accounts for around 250,000 IT
professionals, and has one of the highest European growth rates for
senior IT staff.
More than 16,000 IT companies already operate in Spain and over
11,000 foreign companies have established offices in the country to
take advantage of its benefits.
Forrester said, "Many of Spain's large firms, such as Grupo
Santander, Iberdrola and Zara, punch above their weight
internationally and are known for their innovation, efficiencies
and world-class technology."
Labour costs in the IT sector in Spain are around half those in
the UK, and almost on par with Indian rates when factoring in the
corporate governance costs of working in India, said Forrester.