Item 4 - Capital Ambition and London Ventures Update (L8/12)

Summary    

This paper updates Leaders’ Committee on the work of the Capital Ambition Board and in particular the progress on the new model for delivering innovation and efficiency: London Ventures – a partnership with EY. 

London Ventures is now an established process with a portfolio of 15 Ventures which are described within the report. 21 boroughs are now implementing at least one of the Ventures and current estimates provided by EY indicate that savings in the region of £6 million could be realised.

The current portfolio supports key areas of concern such as safeguarding children, reducing isolation and loneliness, and driving efficiencies through good practice IT estate management. The team are working with stakeholders to learn from the first three cycles of sourcing innovation to ensure London Ventures meets the needs of London’s local authorities.

This report also seeks the Committee’s approval to undergo a procurement process for a new London Ventures contract.

Recommendations    

Leaders’ Committee is asked to:

a)    note the report
b)    receive the presentation from a Borough Chief Executive implementing Venture projects and note the early success of the programme
c)    consider the range of London Ventures innovations and seek additional information on those that they feel would benefit their borough
d)    note the continuation of the London Energy Project, a legacy Capital Ambition project.
e)    approve the undertaking of a procurement process for a new London Ventures contract and delegate the decision on award of the contract to Capital Ambition Board

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