About Nesta

Nesta is an innovation foundation. For us, innovation means turning bold ideas into reality and changing lives for the better. We use our expertise, skills and funding in areas where there are big challenges facing society.

Nesta's response to BIS review of sharing economy

Nesta’s response to the BIS Review of the Sharing Economy argues for a Lab to be set up and provides recommendations to support the collaborative economy.

Since 2010, Nesta has been researching the collaborative economy, including the recent 'Making Sense of the UK Collaborative Economy' report. Our work has shown the potential of the collaborative economy to deliver civic, public and economic benefits.

As part of our ongoing work in this field, Nesta has prepared a response to the Department of Business, Innovation and Skills’ timely review of the sharing economy - identifying specific recommendations in a variety of areas, intended to promote and support sustained and beneficial growth in this exciting new sector.

Key Findings

The paper proposes:

  • The creation of a Lab providing finance, space for experimentation and the development of useful evidence and research to support the growth of the collaborative economy in the UK.
  • New ways in which the collaborative economy can be incentivised and facilitated, such as using design prizes and standards frameworks or encouraging participation by making access simpler.
  • An explicit focus on using collaborative projects to create inclusive economic growth.

Nesta’s work into the collaborative economy is on-going and future work will include a detailed consideration of the policy requirements of an effective collaborative economy.