The success of HotSpot Parking Inc. in offering a smartphone parking payment service to Fredericton’s downtown area, illustrates four key attributes that should be front and centre in the minds of all city planners concerned with driving growth, according to Barry Gander, EVP of CATA:
- Create an environment that acts as a nesting-ground for growth-centered innovation;
- Actively work with new companies to make the future happen;
- Make yourself "future friendly", allowing for example the use of city data to help companies develop next-gen software services like security -- a move that Fredericton’s e-Novations VP Mike Richard calls “a very good-news story”; and
- Ally yourself with senior corporate players like IBM, to partner with the best in the world.
Fredericton has positioned itself as a leader in the provision of networks, and now it is carving out a name as a startup capital. The evolution shows that with the network in place as necessary “table stakes,” it can promote and develop the use of the network as the game-changer.
This is ROI that any planner would be proud of.
“HotSpot Parking is a good example of the type of companies we are developing in Fredericton,” said Larry Shaw, CEO of Knowledge Park, the commercialization centre where HotSpot is located. “At Knowledge Park, HotSpot found a network of like-minded entrepreneurs and global players, who helped them jump-start their company. I am confident these successes will become "pay-it-forward" stories returning support that someday will help build other successes.”
An article about the company can be found at: http://www.cata.ca/Cata_Members/News/members_pr03251401.html