Policy Directions for Enhancing Transport Innovation Infrastructure for Smarter Regions

Abstract

The European transport companies are leading innovators. Transport innovation can contribute to tackle major societal challenges, which are becoming more urgent by the day. However, budgets for transport are usually spent on maintaining or improving current infrastructure as statutory obligations drive the policy agendas for investment. There are opportunities offered by the rapid development of digital technology in 5G communications, connected and autonomous vehicles, alternative power sources and interconnected devices means that the transport sector is on the cusp of stochastic change. There are numerous issues around access to the technology as it becomes available and how to maximise the benefit to a region. This paper investigates the competitive advantage of five regions and explores the innovation potential along with the success factors needed in tackling any innovation obstacles. Policy suggestions are put forward in creating a funding strategy that builds upon existing and potential areas of competitive advantage, avoiding fragmentation and insularity and linking and leveraging the assets in new and different ways.