Income Q2 2019 / 20 Grant Funding • Xx
Total Page:16
File Type:pdf, Size:1020Kb
LONDON & PARTNERS’ REPORT TO THE GLA Q2 2019-2020 Table of Contents Headlines KPI’s Activity: • FDI • Trade & Growth • Major Events • Business and Leisure Tourism • Higher Education and Talent • Brand Engagement Markets: • India • China • France • Germany • North America Sectors: • Urban • Creative • Innovation & Life Sciences • Finance, Business Services & Technology Corporate & Commercial: • Strategy & Corporate Affairs • Research & Insights • Revenue Generations • Risks • Finance Overview Q2 2019/20 Summary The second quarter of 2019/20 has taken place against a backdrop of continued macro uncertainty. Brexit continues to affect perceptions of London across our audiences though with divergent geographical impacts. Equally we are seeing complex effects from global trade de-liberalisation. In this regard while the China–US trade wars are creating opportunities for London within an aggregate negative impact on global growth, it is equally increasingly clear that domestic policy across our key markets is moving towards trade barriers. We are performing strongly in this challenging context. Our strategy was designed to be Brexit agnostic and to deliver important geographic diversification as well as operating earlier in decision-making. These choices sit behind a half year performance that puts us significantly ahead of our year-to-date targets for economic growth. China and India between them have now delivered 20 inward investment projects in the past two quarters, showing the importance of these markets. Although it is too soon to measure much of our marketing activity, we can see that we have had a +7% impact on audience perception against a target of +8%, putting us in a good position for the second half of the year. London has been in the shop window. The SIBOS conference and the continuing effects of the Cricket World Cup are two examples of high profile events which London & Partners have used to reach high value global audiences. Our investment in systems is bearing fruit. Salesforce in particular is driving decision-making and performance and we believe that the system is improving our management of potential investment clients. Our new Business Systems Oversight Group has been introduced to identify further efficiencies and benefits from our investment in systems. Introduction: 2019 / 20 Key Performance Indicators An improved methodology to reflect the new strategy and a new system to track performance Our three-year strategy is focused on engaging audiences earlier in their decision making to choose London or remain here. Our KPIs reflect this and we have introduced new measures to track brand engagement and perception. In addition, to reflect our strategy, we have set targets against a more focused set of activities, for example performance from core markets and our chosen target audiences among contestable investment projects and first time visitors. Note that for the marketing metrics, our ability to measure performance against a simple Year to Date target is heavily dependent on when in the year campaigns will take place. There can be a three months' time lag before broadcast data, which Brand Engagement is based on, becomes available and we are therefore unable to measure it at this stage. 2019/20 outcomes as set out in L&P’s business plan Kristina Outcomes against targets – continued strong performance Half-way into an uncertain year, we continue to be ahead of many of our targets but the ‘growth rate’ is slowing down: • Audience engagement – we have nearly reached our full year target which is in line with forecast. It is a front-loaded (mainly due to the Cricket World Cup) year and we how now completed our big activities. There is still more engagements to come so we will achieve the full year target but the curve will flatten out considerably. • Audience perception: we came in 1% below target (at 7% against 8% target) on our London Paris campaign so currently below. We have one or two more opportunities later in the year to measure perception. • Business GVA – our strategy and efforts (incl new offices) are paying off and we continue to be well ahead of target. The monthly win rate is slowing down but we are confident in achieving our full year target. • Student GVA has now achieved full year target as the big activation that GVA is based on has been delivered. • Income – YTD, income generation is close to target but achieving the full year forecast is challenging. Activity FDI – new projects and wins Contestable Non-contestable Sector Specific Activities • OLA Cabs – leading Indian ride Ubitriticty - German electric charging FBST - SIBOS 2019 – held in London (Excel) for the first sharing company (£5.7m GVA) solutions (£2.1m GVA) time in its 41-year history (23-26 Sept) and was the biggest ever with over 11.5k delegates, 300 exhibitors and 200 • Smile Direct - US orthodontics Frazier Deeter - US accounting firm, speakers. L&P in collaboration with DIT exhibited along with service provider (£4.6m GVA) (GVA £48k) 6 of London’s leading fintech companies and MIBP clients and a visit by the Deputy Mayor. • Scanline – Canadian VFX Studio Salt Edge – US fintech (GVA £411k) (£1.8m GVA) ILS – Updated AI Proposition; speaking engagement at Glo China - Chinese recruitment firm, Global TLA and Tech Conference with Laura Citron. • Blue Rose – Indian premier (GVA £89k) First draft of Life Science FDI guide produced. outsourcing and IT solutions company (£1.3m GVA) Creative – Esports Insider held in Twickenham on 16-17 September. This is a new esports B2B conference that attracted 500+ delegates, 100+ leading industry speakers, 30+ panels, debates, and a pitching competition for 9 international esports/games companies. Urban - Developed narrative and sales proposition for proptech; attended MIPIM Proptech in Paris (9 new FDI opportunities sourced) FDI – new projects and wins Growth Wins New Opportunities Activities • Worked with Lidl Senior We are working with Petroliam Nasional We hosted 2 roundtables with our key clients Management team in their Berhad (Petronas), the Malaysian oil and covering relevant topics of Diversity & Inclusion expansion plans to open gas company, who are looking to set up and Apprenticeships, which included an update more stores across London their first global research hub in London from the Chair of the Mayor’s Apprenticeship resulting in £14m GVA and that will act as an office/vehicle to attract Advisory Board. 900 jobs creation over 3 and retain new researchers and years. Support included scientists. We supported the first China Conference hosted liaising with relevant teams by Chatham House with a theme of China’s at GLA, London Boroughs We supported Gensler, the US Economic Future with a number of influential and TFL. headquartered urban design company, on speakers and about 200 guests. the opening of their brand new European HQ in London. We worked with the Confederation for Indian Industry for an Indian VIP delegation visit to the We are working with HCL, the Indian House of Lords, where Rajesh presented. technology company, on developing their relationships with the Metropolitan and We involved our clients in a number of L&P City of London Police forces. activities including Meet the Corporates (SPIE and CapGemini) and the Mayor of LA visit. Trade & Growth: Business Growth Programme TARGETS ACTIVITIES ACTIVITIES Total number of active companies on the • Cohort 7 launch bringing on a • Technology in Education event as programme: 630/530 further 75 companies. first in an ongoing series exploring • Cross-company creative 'Fashion trends and key challenges in this KPIs Disruption' event with Kering, sector. Attended by over 70 people Dune, Rituals and Vestiaire with representation from across the C1: 404 / 530 Collective and over 80 attendees whole ecosystem from teachers to C8: 190.7 / 170 exploring themes around edtech founders, to investors and C5: 59 / 50 sustainable fashion and future universities. C29: 40 / 58 trends of the sector. • Together with Funding London, • Meet the Investor sessions: MMC Ventures and The FSE ERDF Downing Ventures, Octopus Group ran an event helping Ventures, RLC Ventures, True founders understand and access We are still waiting for a final decision on Global and Silicon Valley Bank. the Greater London Investment our ERDF extension that will secure the • Meet the Corporate sessions: Fund with over 60 founders in programme until the end of March 2022. Capgemini, Oracle, TSB Bank, attendance. SPIE UK and Banco Pan. • 35 workshops and events across • 3 new Mentors onboarded – 2 our key pillars: raising investment, specialists in the creative sector sales acceleration, prioritising and and 1 with pitching expertise. engaging your audiences, people strategies and business modelling. Trade & Growth: Mayor’s International Business Programme TARGETS ACTIVITIES ACTIVITIES Total number of active companies • Launch of cohort 14 – all day event that saw 75 • Detroit & Chicago Urban Mission that on the programme: 795 / 900 high growth companies join the programme saw 12 companies from smart mobility and • Sales & Shares Options masterclass prop tech take part in a 4-day trip across KPIs • Meet the Corporate Sessions with Heathrow both cities and Banco Pan • Learning the Silicon Valley Playbook C1: 464 / 900 • Government Funding workshop masterclass that saw 25 companies take C8: 1536.5 / 1200 • Getting Export Ready workshop part. • Office Hours sessions on subjects including 'how • Meet the City events with Los Angeles and to set up in California' and 'are you AI ready' in Oregon addition to sessions with mentors on marketing • How to access the Canadian Market with and raising finance the trade commissioner of Canada • Half day trade mission bootcamp event that saw • Creative Summer Soiree over 40 companies attend on the day to find out with 40 companies how to get the most out of the opportunity • Coming to America Dinners on US expansion and fundraising Major Events DELIVERED/SUPPORTED WON/BIDDING OTHER • UEFA Champions League Final • Major League Baseball 2019 • World Para Swimming announced for 2023 Wrap Meeting.