Arity’s top 3 SUMC Summit takeaways
As you might have read on MOVE, earlier this month Arity’s Sharing Economy team ventured down the block to the National Shared Mobility Summit 2019. Over the course of that week, the team connected with both old and new friends to exchange ideas and brainstorm how sharing economy can continue to make an impact on the future of transportation.
Our team got together to debrief and highlight key learnings that popped up throughout the course of the week. Here’s the download on key themes that caught our attention:
Micro-mobility is the new .com and everyone is claiming their piece of the pie. Last year at the event, there were only a few companies showcasing their bike sharing systems, but this year so much of the conversation was dominated by bikes and e-scooters. There is definitely consumer interest and demand for these types of solutions that are helping to solve the first and last mile problems. However, there is also conversation around the liability and insurance for these types of mobility models along with the challenges that come with maintaining the operations.
Electrification and sustainability
With concerns that sharing economy could be adding vehicles to already congested roadways, electric vehicle companies are focusing efforts on reducing CO2 emissions and reversing adverse effects that internal combustion vehicles have on the road. Infrastructures that allow for EV charging stations along with all of sharing economy’s efforts to reduce the number of single-occupancy vehicles will be critical to ensuring the long-term success and sustainability of how we move.
The Right Revenue Model
This continues to be one of the biggest challenges across the board, as sharing economy can’t rely on established subsidies to support their operations. On the whole, the business model of moving a lot of people from point A to point B is difficult, and it requires continual innovation, collaboration, and investment to really make it work. We heard many companies talk about how they’ve been adapting their revenue models to better connect their customers’ needs with their business’s needs. That’s why it’s great to have conferences like these that bring together a lot of smart, passionate people to openly exchange ideas on problems and solutions, and that’s why Arity continues to evaluate how sharing economy companies can optimize risk to increase business returns.
All in all, the week was very productive and the team met people across the industry who shared the same interests of improving the safety and options for how we get around. Most importantly, it continued to validate Arity’s values – collaboration is key and the collaborative energy we feel in sharing economy is exceptional. Everyone in the industry recognizes the potential of sharing economy and is eager to do whatever it takes to keep moving it forward!