0 comments on “Digital Entrepreneurship & Digital Disruption – Course.University of Warwick”

Digital Entrepreneurship & Digital Disruption – Course.University of Warwick

AS_318113021661196@1452855462861_lThis module represents the confluence of two of the most critical developments in modern business: the growth of digital enterprises and the digital economy; and the importance of digital technologies in the disruption and reshaping of many industries and the creation of new business models.
To the former, the importance of digital technology in the modern economy is undeniable. Indeed, McKinsey Global Institute have estimated that 98% of the US economy is impacted by digitalisation to some degree (Manyika, 2016).

For new business and for the entrepreneur, digital technology offers the transformative potential to reduce costs, increase agility and speed to market, and for “growth hacking” (rapid experimentation based, primarily, on digital tools).
In some instances, the integration of digital technology into an organisation’s operations, or the inception of new digital enterprises, can go beyond this to a process of digital disruption, whereby technologies come to entirely reshape the whole industry they are applied to. There are numerous examples of this, including: Amazon and book retailing; Uber and the taxi industry; Airbnb and in hotel and accommodation retailing; and many more.
The principal aim of this module is to introduce participants to this exciting, dynamic and highly relevant area of modern business management. Participants will be given the tools, case studies and best practice strategies required to develop a digital enterprise, and to identify and act upon opportunities for digital disruption.

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Manyika J (2016). Digital Economy: Trends, Opportunities and Challenges. https://www.ntia.doc.gov/files/ntia/publications/james_manyika_digital_economy_deba_may_16_v4.pdf

Objectives

Upon successful completion participants will be able to:

1. Develop a comprehensive understanding of digital entrepreneurship and digital disruption.
2. Critically evaluate relevant case studies.
3. Critically evaluate markets and industries, and identify opportunities for disruption and innovation.
4. Demonstrate a thorough comprehension of, and an ability to apply best practice in digital entrepreneurship.
5. Create, evaluate and develop a digital business model.

Syllabus

1. What is a Digital Enterprise?
a. Definition and comparison with traditional businesses.
b. Case studies.
2. What is Digital Disruption?
a. Definition.
b. Case studies.
c. Identification of opportunities for Digital Disruption.
3. Forming a Digital Entrepreneurship
a. Market research and idea development.
b. Digital business model development.
c. Digital technology development and innovation.
d. Funding – including seed funding and crowdfunding.
4. Growing a Digital Enterprise
a. Digital technology development and enhancement.
b. Growth and digital hacking.
c. Managing a digital enterprise.
d. Continuous deployment.
e. Innovation, dispersion and diversification.

Assessment

3750 Words Post Module (60 hours, 70% weighting) and In-class presentation (1.5 hours, 30% weighting)

Duration

1 week, to include lectures, seminars, workshops and presentations, approximately 36 total contact hours.

source: https://warwick.ac.uk/fac/sci/wmg/globalcontent/outlines/digital-entrepreneurship-and-digital-disruption

0 comments on “German politician calls for corporate break-up of U.S. digital tech giants”

German politician calls for corporate break-up of U.S. digital tech giants

Social Democrats (SPD) Hold Federal Party CongressGerman Social Democrats (SPD) leader Andrea Nahles has called for the break-up of major U.S. technology companies on Monday to prevent the formation of digital monopolies.

Writing in the newspaper Handelsblatt, Nahles urged policymakers to use antitrust regulation to “reign in internet giants” like Facebook, Google and Amazon as soon as their behavior began to “contradict the principles of the social market economy.”

Amongst others, she proposed a “data-for-all” law which would require companies which had acquired a dominant market position to give away a share of their anonymized data for free.

Furthermore, Nahles warned that digital monopolists which failed to assume their responsibility to society would have to face the prospect of involuntary disintegration at the hands of competition authorities.

“In such cases, we will have to hold discussions in the European Union (EU) over whether a corporate break-up is necessary,” the SPD leader said.

In hindsight, Nahles argued, it had been a mistake to allow the concentration of digital market power in a handful of companies as had occurred during the takeover of WhatsApp by Facebook. However, she noted that it would not be unprecedented for governments to reverse these mergers again. It was hence in the “enlightened self-interest” of the sector to take recent criticism of industry business models to heart to avoid the need for such radical steps.

The SPD leader is not the first senior German politician to demand reforms of the way data-driven Silicon Valley companies operate in the EU. Earlier, chancellor Angela Merkel (CDU) proposed introducing a tax on data in the digital economy.

“The pricing of data, especially that of consumers, is the central injustice issue of the future,” the Christian Democratic Union (CDU) leader said. She emphasized that such data had become fundamental to the business model of many companies in the digital economy which generated income with targeted advertising.

According to Merkel, ongoing discussions in the EU over how to tax large U.S. companies like Google and Amazon only underscored the urgency of problems in the current regulatory regime governing e-commerce. The situation raised the question of whether traditional corporation tax models were still appropriate, or whether policymakers should instead resort to revenue-taxing to ensure a level playing field between digital and non-digital firms.

Many online businesses pay considerably less tax in Europe than traditional industrial manufacturers or brick-and-mortar retailers. The digital companies hereby benefit from their non-locational character which allows them to channel European profits through low-tax jurisdictions such as Ireland and Luxembourg.

The EU Commission has already announced tentative plans to tax the revenue of large digital companies with at least 750 million euros in annual global revenue and online sales worth 50 million euros in Europe at a three percent rate. The taxes would be levied in the countries where users are physically based.

But the plans also require unanimous consent from EU members, which remains elusive on the issue. While Germany and France are seen as the major driving forces behind the changes, low-tax countries like Ireland, Luxemburg and Malta have warned that the reforms could open a new front in the temporarily-stalled trade war between Brussels and Washington.

Writing on Monday, Nahles insisted nevertheless that closer regulatory scrutiny of the commercial activities of major digital technology firms was required in the bloc. She argued that digitalization would only become a force for good when its potential was harnessed by society as a whole, rather than an elite circle of corporate beneficiaries.

source: www.xinhuanet.com

0 comments on “Jack Ma Launches $10M African entrepreneurs prize”

Jack Ma Launches $10M African entrepreneurs prize

jack_sa-3-editedAlibaba founder Jack Ma has established a new contest that will see African entrepreneurs compete for $10 million in funding, with the aim of supporting businesses that are growing the continent’s nascent digital economy.

Called the Jack Ma Foundation Netpreneur Prize, small businesses in Africa will vie for $1 million in prize money every year for the next decade, starting in 2019, a statement said. The Jack Ma Foundation will host an annual pitch competition, with all 10 finalists receiving grant funding and access to the Netpreneur community of African business leaders for mentorship and other resources.

“As a fellow entrepreneur, I understand the importance of getting support during the early days,” the Alibaba executive chairman said. “This prize demonstrates our support of a next generation of young entrepreneurs across Africa that is paving the way for a better future and impart positive change in their communities.”

While the competition will be open to entrepreneurs in all industries, the prize will focus on internet-led businesses that help advance technology and innovation in Africa. Applicants must be African nationals leading mission-driven organizations, and the 10 finalists will be selected by a team of judges from five regions representing the entire continent. Applications for the first year open in January, with the finalist pitch competition broadcast on television and online in the second half of 2019.

The prize was announced at the “Netpreneurs: The Rise of Africa’s Digital Lions” conference in Johannesburg on Wednesday, which drew 800 entrepreneurs, venture capitalists, researchers and policymakers. In addition to Ma, United Nations Conference on Trade and Development Secretary-General Mukhisa Kituyi and South African Minister of Science and Technology Mmamoloko Kubayi-Ngubane, UN Women Executive Director Phumzile Mlambo-Ngcuka and Lin Songtian, China’s ambassador to South Africa, were in attendance.

“The rise of the digital economy provides growth and opportunity to the developing world, but it is up to us to make sure no one is left behind. The work that Jack Ma and UNCTAD are doing together will help empower the emerging generation of young African business leaders to participate in and lead that growth,” Kituyi said.

source: www.alizila.com

0 comments on “Putin calls on Caspian littoral nations to focus on development of digital economy”

Putin calls on Caspian littoral nations to focus on development of digital economy

Russian President Vladimir Putin has called on his counterparts from other Caspian littoral nations, namely Kazakhstan, Azerbaijan, Iran, and Turkmenistan, to focus on the development of digital economy.

“Russia calls on the Caspian littoral states to focus on cooperation in the sphere of digital economy, to introduce information and communications technologies and electronic commerce, to digitalize foreign trade operations, the shipments and logistics sectors,” Putin said at the Caspian summit on Sunday.

He said he hopes an intergovernmental agreement on cooperation in the sphere of transport on the Caspian Sea will help develop a common integrated infrastructure.

“Transport links is a key factor for sustainable growth and close cooperation between our states,” he stressed, adding that Russia is implementing a strategy for the development of sea ports in the Caspian basin till 2030. Thus, it is planned to build a deep-water port near Caspiysk by 2025. The port will be capable of handling heavy-duty vessels with a payload of 15,000-25,000 tonnes.

source: www.tass.com

 

0 comments on “Blockchain technology summit brings digital economy to Laos”

Blockchain technology summit brings digital economy to Laos

laOSGovernment officials from different sectors, business representatives, entrepreneurs and Lao and Chinese experts gathered in Vientiane recently to share experiences and exchange information on blockchain technology.

Participants also debated about trends in blockchain development for future digital business expansion in the region and around the world.

The Global Blockchain Application Conference Laos Summit was held on July 29 by the BST Elephant Chain in Laos, aiming to bring digital technology management investors together to discuss the development and growth of blockchain technology.

During the conference, experts from companies in Laos and China, notably LAEX, WOGC and the BST Group, gave presentations about the integrated digital information system and technology, with the Lao government represented by Deputy Minister of Justice, Mr Bounsavad Boupha.

The blockchain system is the technology integration programme of the future, which helps to generate income and benefit via digital currency and contribute to economic expansion through participatory investment, the meeting’s Chair, Mr Xiang Run, said during the opening of the summit.

The event also helped entrepreneurs boost their understanding and have more choice in using digital systems for their business operations in line with international trends, he said.

Laos can benefit greatly from using blockchain technology in business communications and making financial repayments faster, said Mr Xiang Run.

Blockchain technology has already begun to deploy applications around the world.

Different developed countries have realised that there is huge potential for the application of block chain technology in public service and social mechanism optimisation through the blockchain development path.

At the event, organisers presented prizes to outstanding employees as well as certificates and other awards and mobilised funding for the relief effort in Attapeu province.

source: www.nationmultimedia.com

0 comments on “Insurance business model continue to face three key challenges in today’s digital economy”

Insurance business model continue to face three key challenges in today’s digital economy

5-WAYS-INSURANCE-COMPANIESDigital transformation enables insurers to take advantage of many new opportunities. But first, they must define their strategic priorities. That means reevaluating business models, processes, products and service.

There are three key challenges insurers should address along the way:

  1. They must better manage risk mitigation by evolving from a financial loss compensation focus to include physical risk prevention.
  2. They must face down disruptive competitors by enabling rapid solution development.
  3. They must manage the enormous amount of data generated by connected networks to develop and deliver leading-edge products and services.

The ability to address these challenges effectively will enable insurers to successfully compete in the digital economy.

Risk mitigation

Customer expectations have changed. Evolving customer demands coupled with technological advancements mean that insurers are expected to provide risk prevention in addition to crisis management. These benefits can be managed by technology that interacts with customers across multiple channels.

Essentially, technology is allowing insurers to move into a world in which risk is more tangible.

Keeping up with disruption

Nearly 80% of insurance company chief information officers expect technology to significantly change or transform both the industry and their organization in less than five years, according to Ovum. More than a third of insurance companies are already using or developing IoT projects; another 25% are actively evaluating IoT projects.

These new technologies increase the risk to some incumbent carriers that new entrants will cause business disruption. Startups may lack the deep actuarial and underwriting experience and capabilities of established carriers, but they have access to customers, IoT infrastructure or the ability to process data in real-time.

Deciphering data

As the volume of data grows, insurance companies must use solutions like AI and machine learning to process large amounts of data. The ability for insurers to adopt these types of platforms now can lead to better product and service agility. By using technology like AI and machine learning, insurers can deliver new products and services to customers while more effectively managing their existing portfolio. With a strong digital core, insurers can bundle products and services to deliver personalized offerings to specific customer segments and distribution channels.

The change afoot

The digital economy is still evolving. By aligning transformative actions across these three priority areas, businesses can more easily manage the transition in stages, creating a digital core and then extending digital functions across the enterprise. The reduced reliance on traditional risk-assessment and data-processing methods will provide insurance customers with a much more personalized experience via a multi-channel environment. These steps will reduce the possibility of business disruption and propel insurers to fresh success.

Insurance for the greater good

Many of today’s insurers are passionate about digital transformation and what it can do for business and for society.

Why? Because the industry is witnessing a steady shift from a centuries-old business model that has the potential to dramatically improve lives worldwide.

Rather than just compensating for financial loss, which insurers have done remarkably well, the industry is getting geared up to help people prevent loss, lead healthier lives, live longer and drive safer.

In short, digital transformation in the insurance business will potentially do more than any other industry to further society’s long-term well-being.

source and more: www.propertycasualty360.com

President Trump’s Indo–Pacific Economic Investment Initiative

Indo-Pacific_biogeographic_region_map-enUS Secretary of State Mike Pompeo has laid out a new vision for American economic engagement in the Indo–Pacific, announcing the rollout of a new US regional infrastructure initiative, which, while not explicitly targeting China’s growing economic power in the region, attempts to provide Indo–Pacific countries with US financial and technical alternatives to China. The funds may be modest, yet they remain important; the key question is whether the strategy will be sustained, and whether it will succeed in engaging other US allies as well.

Secretary of State Mike Pompeo has announced the launch of ‘America’s Indo–Pacific Economic Vision’, which will focus on digital economy, energy, and infrastructure investments to the tune of $113 million. While the initiative indicates that the US’s Indo–Pacific Strategy is gaining substance, more will need to be done to convince the region that the US is committed to sustained engagement and that Washington is determined to create a power balance that will allow countries to make the best choices for themselves.

 

The initiative encompasses three main project funding strands: $25 million to expand partner countries’ digital connectivity and US technology imports; $50 million to develop sustainable and secure energy markets across the Indo–Pacific; and $30 million to launch an Infrastructure Transaction and Assistance Network for infrastructure development in the region. It is a not a great deal of money, but it is a significant start and a symbolic gesture.

More: https://rusi.org

 

0 comments on “World Bank report: Malaysia – unlocking the potential of the digital economy”

World Bank report: Malaysia – unlocking the potential of the digital economy

CaptureUnlocking the potential of the digital economy is key to ensuring Malaysia’s successful transition to a high-income economy.

  • Moving forward, Malaysia should consider adopting policies with two main objectives:
    – Improved quality and affordability of fixed broadband services;
    – Increased coverage of ultra-fast broadband networks.
  • To achieve these objectives, the government should strive to increase competition in the fixed broadband market.
    – Better enforcement of the current regulatory framework could provide all operators with access to cable landing stations.
    – Encouraging competition by opening the market across all levels of the telecom and internet supply chain.
  • For Malaysia to increase productivity outcomes in the private sector and drive the country’s digital transformation, it is crucial for the country to improve its level of digital adoption and connectivity.

Report World Bank –  Malaysia Economic Monitor: Navigating Change, part two: Unlocking the potential of the digital economy (2018)

Or you can find more reports in Library

0 comments on “What ride-sharing means for Canada’s cities”

What ride-sharing means for Canada’s cities

dfasfHow are ride-sharing and other digital platforms changing our cities? Questions remain about the impact of the sharing economy on our jobs and the economy.

“I’ll just grab a Lyft or Uber,” I casually said when my friend asked how I was planning to get home to Etobicoke from the heart of Toronto. If you aren’t familiar with Toronto, the city spans about 630 square kilometres, and Etobicoke is its westernmost district.

The part of Etobicoke where I’m from is 25 kilometres from downtown. To put this distance into a broader context, 25 kilometres from downtown Vancouver would put you roughly in Delta or Surrey, and in Montreal it would take you halfway to Laval. Needless to say, Toronto is big, and getting around in it can be a challenge — so much so that a recent study named Toronto the worst city in North America for commuting. This isn’t exactly what we want to come first for. One key development — ride-sharing — is taking root and scaling fast, and it is helping Toronto shed this less than favourable reputation.

The rise of the sharing economy

How are the digital economy, the gig economy, ride-sharing and the future of transportation important for Canada, for our collective economic future and for the shaping of our cities? What is the impact of the increasing influence of technology across economic sectors, and what does it mean for Canadians in terms of jobs, skill needs and changes in employment and the economy? These are some of the issues that the Information and Communications Technology Council studies.

One thing that is increasingly reshaping how we understand our economic systems is the changing nature of work. What we refer to as the sharing economy operates mostly by reliance on gig workers who are part-time, freelance or on contract rather than full-time. Such employment is a central component of the sharing economy, which offers opportunities for people to pool underutilized resources, such as properties or vehicles that they own, while generating income and also connecting people in the community.

Recent estimates suggest that the proportion of Canada’s workers who are engaged in part-time, temporary work or self-employment is around 30 percent. Clearly, the sharing economy and gig work — both disrupters of traditional work structures and business models — are here to stay.

Ride-sharing is more than just driving

Looking at ride-sharing, we see new apps and services emerging regularly. Examples include companies like Curb, based in San Jose, which lets users schedule pickups ahead of time, or Wingz, based in San Francisco, which allows users to schedule rides to and from airports at flat fees and even to choose their preferred driver.

A substantial player in the sharing economy, ride-sharing is quickly becoming a staple of transportation. Peer-to-peer platforms that blend technology and community-driven services, ride-sharing apps have recalibrated what it means to commute and travel. With the simple use of a mobile phone, applications like TuroLyftUber and many others provide access to vehicles on demand.

I lived in Los Angeles for a few years, and ride-sharing was a significant lifeline. Offering the ability to hail a car within minutes, platforms like these provide a convenient and cost-effective method of travel — particularly for millennials like me, who increasingly choose not to own a car. Similarly, companies like Amazon, through Amazon Flex, are also using the concept of ride-sharing to bolster their businesses, while providing new avenues for employment. Applications like Turo challenge the vehicle rental market, by allowing users to connect to vehicle owners in their community to essentially “rent” a car. If you consider that the majority of vehicles reportedly are not in use 95 percent of the time, finding a way to make the best of that unused time by sharing them seems logical.

Other digital platforms have also taken off. While some of the more well-known ones are accommodation-rental services like Airbnb, of particular interest is the growth of services that focus on pets. Apps like Rover let users browse available pet-sitters in their area, and DogVacay matches pet owners with sitters in the area who can host the pet at their homes.

The future of transportation for Canadian cities

A few weeks back, I had the pleasure of joining a panel in downtown Toronto, moderated by TV/radio host and author Amber Mac, where I chatted with Turo’s Cedric Mathieu and Lyft’s Aaron Zifkin about ride-sharing and what it means for Toronto. Icons of peer-to-peer vehicle sharing, both companies had recently followed Uber’s decision in 2012 and chosen Canada as their first location for expansion outside the US. While Lyft is still fairly new to the Canadian market, this spring marked Turo’s two-year anniversary in the city.

What are the results so far when it comes to ride-sharing in Canada? Uber is currently available in 17 cities across the country. During its two years in Canada, Turo managed to draw 350,000 users to its platform, which lists more than 10,000 vehicles. Similarly, even before its debut, Toronto was already gearing up to go for a ride with Lyft. The app received more than 50,000 downloads in Toronto prior to official launch. Whether you’re hailing a car to get from one end of the city to another, or renting one to drive to Mont-Tremblant for the weekend, sharing applications like Uber, Lyft and Turo service a need for convenient, fast and affordable transit alternatives.

In the end, the 25-kilometre ride from the panel in downtown Toronto to Etobicoke cost me $20 on a Lyft Line — a car-pooling option similar to UberPOOL. On that journey I met two other passengers who were going my way and chose to car-pool. For $20, I was able to get to my destination quickly and conveniently, make a connection in the community and possibly eliminate the need for one or two more cars on the road. Similarly, the next time I need to take a trip outside of the city, I will most likely forgo a trip to Hertz and grab a Turo instead.

Ride-sharing, connected cities and the future of work

The benefits of the sharing economy — increased connectivity, the efficient use of assets or skills and greater economic participation — are playing an important role in our cities and communities. Ride-sharing apps like Lyft and Uber fill a need for accessible and convenient transportation. Services like Airbnb, Homestay and Couchsurfing provide access to accommodation that might offer better prices and more flexibility than traditional hotels, and freelancing platforms like UpWork and Toptal allow skilled workers to access more employment opportunities.

These kinds of services are transforming the places we live, and also how we interact with them and within them. Increasingly, they are inspiring questions about how basic needs like housing, employment and transportation should be met. Uber currently has over 40 million active users per month, and Airbnb cites more than 150 million global users on its platform. Challenging the traditional modes of transportation like taxis, or traditional accommodation like hotels, these services offer a greater availability of options, convenience and experiences for consumers, and could reshape our cities.

However, even these new developments, which are propelled by consumer demand and are shifting business and economic models, often require some finesse to operate within our current economic and social platforms. Last month, the city of Barcelona instructed Airbnb to remove more than 2,500 listings that were operating without city-approved licences. The crackdown on Airbnb was a direct result of the increase in popularity of Barcelona as a tourist attraction, which had led to a surge of Airbnb listings, limiting the ability of residents to find affordable housing.

The city of Amsterdam took a different approach, in its effort to battle excessive rents and low vacancy rates. It introduced a regulation allowing owners to rent out their places on Airbnb for a maximum of 60 days per year. Owners who surpass this limit have to apply for a hotel licence.

The idea behind both approaches is to allow these alternative services to continue, while ensuring that communities are not negatively impacted by them.

The sharing economy and regulation

During the Q & A portion of the Toronto panel, an audience member raised a question about the role of inclusivity in the sharing economy: While the sharing economy has immense potential to integrate new players economically, what can we do to ensure that this new marketplace doesn’t become an elite platform of income generation for those who already own assets like housing or vehicles? How can populations such as remote communities, people with disabilities and Indigenous communities benefit from the sharing economy? These are important questions that need to be kept at the forefront of the discussion and will play a key role in regulation.

While in some ways, sharing economy platforms like Uber or Lyft have been seen to offer expanded mobility and employment opportunities for people with disabilities, for example, issues including unfair pay and lack of work benefitshave recently arisen. In May, the Supreme Court of California tackled this issue. Its ruling significantly limited the ability of businesses to classify workers as independent contractors who therefore do not receive key employment benefits. While the debate about how the sharing economy should be regulated and who should regulate it continues, decisions like these will guide the public bodies that are willing to engage in the debate.

Most of the regulation we have seen to date around the sharing economy has taken place at the city level. Some early adopters of the sharing economy like Portland, Oregon, Washington, DC, and Chicago have established tax-collecting arrangements with sharing companies. This means that these sharing services will be subject to taxes, just like traditional businesses. Similarly, in 2016, five Florida-based cities formed a public-private partnership with Uber to subsidize rides. All Uber rides in these cities were subsidized to the tune of 20 percent, and those taking public transit were subsidized by 25 percent. This initiative was undertaken in order to alleviate traffic problems and to find savings on transportation and road building.

However, not all regulators have been as positive toward the sharing economy as those in Florida. For example, in late 2017, Uber shut down operations in Denmark, following the development of new taxi laws that required Uber vehicles to be fitted with fare meters and seat sensors. Companies like Uber continue to face challenges in many European cities, following the decision by the European Court of Justice classifying these services as transport companies. This ruling means that ride-sharing services are subject to stricter regulation and licensing in the EU.

The sharing economy vs. traditional industries

Innovations like ride-sharing can reshape the way we think of driving and commuting. They could even contribute to turning the most challenging commute in North America into one of the best. But ultimately, the success of these and other applications in the sharing economy is rooted in their ability to contribute to economic growth and their ability to provide advantages for everyone, including Canada’s most vulnerable populations. It’s our job to ensure that the new doors that the sharing economy opens are open to all, and that the future economy is one that everyone has the opportunity to participate in.

How will these trends in transportation affect consumer markets and labour productivity, and what impact they will have on the economy in general? In the interests of creating an inclusive, sustainable and innovative future for Canada, we need to evaluate questions like these.

In Ontario, over the past few years, the government has tailored insurance schemes to be relevant to ride-sharing companies. The Financial Services Commission of Ontario has approved auto insurance products for eight ride-sharing companies and three car-sharing companies. They work by activating the company’s insurance while the app is in use, and then switching to the owner’s private insurance once the app is turned off. Responding to changes and disruptions created by these new platforms, the Ontario government recently created the Sharing Economy Framework with the intent of generating new wealth for the province, while assessing challenges and issues along the way. The framework seeks to conduct research and consult with stakeholders on the sharing economy, identify opportunities or gaps, develop methods to address those gaps and gather data on actions taken to assess outcomes and results.

The approach to regulating the sharing economy is not standard across the country. In 2016, the British Columbia Chamber of Commerce called for policies on the sharing economy. This call focused on assessing proper taxes on short-term rentals like Airbnb, as well as the establishment of relevant regulations, the removal of unnecessary red tape and the integration of ride-sharing into the broader provincial Passenger Transportation Act. However, progress has been slow to date, and BC has become all but infamous for the delay in allowing these services to enter the province. Most recently, stating the need to develop BC-specific policies and insurance mechanisms to support ride-sharing, the government announced that ride-sharing would continue to remain unavailable in the province until the fall of 2019. Instead, the province has committed to adding more taxis to the road in the interest of mitigating supply shortages.

What is the best way forward for Canada in the sharing economy? Should legislation and policy development be considered on a case-by-case basis at the municipal level, as in the Florida cities that forged a partnership with Uber for reduced fares? Should it be at the provincial level, encouraging the development of policy frameworks for each province, like Ontario’s Sharing Economy Framework? Or should it take place at the federal level, offering a clear standard or guidelines for all provinces and municipalities to implement, similar to the ruling by the European Court of Justice that Uber is a transportation service?

The answers to these questions are neither easy or straightforward. They require substantial research and data collection on considerations relevant to each type of sharing platform, as well as extensive consultation with stakeholders, policy-makers and consumers. While the policy needs of British Columbia may differ in some ways from those of Ontario when it comes to this newly developing economical structure, one thing is clear: the sharing economy is not only here, but it is likely here to stay. The challenge now is to assess the appropriate balance between safety, consumer protection and economic needs, while at the same time continuing to support and drive Canada’s growth in the innovation economy.

source: http://policyoptions.irpp.org