22 March 2017
The Local Group of the InFocus project met again on Friday, March 17 in order to address the third sphere of specialisation of Bilbao prioritised for the economic transformation of the city. In previous sessions, analysis was undertaken of the creative industries and cultural sectors and advanced services. In this case, it was a question of considering the challenges facing Bilbao when it comes to developing the Digital Economy as a focal point for urban specialisation and, as on previous occasions, seeking alignment with strategies (like RIS3) and other initiatives in the Basque Country.
The Digital Economy represents a qualitative leap in the development of the information society. From the economic point of view, on the one hand, it embraces the traditional activities of the TIC industry, but goes much further, by including an increasing number of digital activities in every sector of the economy. It is precisely this second component which is producing a genuine digital revolution. We are currently witnessing the early stages, but in coming years expect to see much more profound transformations in social and economic orders.
The meeting focussed on two specific spheres within the Digital Economy: fintechs and the Internet of things (IoT). Whilst previous sessions saw the presentation of tractor projects capable of driving the creative industries and cultural sectors and advanced services respectively, in the Digital Economy session, participants explained their vision regarding the challenges facing Bilbao for the development of these two fields. The session facilitated the identification, therefore, of the aspects that should be the focus of the actions which aim to promote specialisation in the Digital Economy.
Guillermo Dorronsoro, Dean of the Deusto Business School, explained the University’s role in the development of fintechs and pointed out that the university can contribute to the development of fintechs but that the challenge is to retain talent. Sergio Chalbaud recounted his experience as the creator of the start-up Fintonic, stressing the importance of having an entrepreneurial ecosystem that benefits from the corresponding institutional support.
In relation to IoT, Guillermo Gil from Tecnalia shared the idea of establishing a Digital Innovation Hub in Bilbao that would permit the creation of a space that could centralise the services that the different agents of the digital ecosystem offer vis-à-vis supporting the industrial fabric of the city and the territory. Tomás Iriondo de Gaia, in connection with the idea proposed by Tecnalia, also presented the option of the Basque Country having a platform of open collaboration that might accelerate the digital transformation of companies. On behalf of the University of the Basque Country, Eduardo Jacob reflected upon the paradigm shifts that will result from the use and application of new digital technologies amongst which he highlighted 5G connectivity. Finally, Juan Carlos Macho of the company Prometec, discussed with the other participants the company’s trajectory and the opportunities and changes they visualise as a consequence of the rapidly advancing digital revolution.
The next meeting of the Local Group will be on March 26 y and will focus on the field of entrepreneurship as the lever that facilitates specialisation in prioritised sectors.
