The 32 London boroughs have launched London Ventures, a partnership to develop innovative projects across borough boundaries.

The partnership has been designed by the Capital Ambition board, which for the past 5 years has fostered collaboration across the boroughs in its role as the regional improvement and efficiency partnership.

London Ventures will take forward a range of projects which include introducing state-of-the-art software for repetitive back office tasks, a way to help social workers assess risk using predictive analytics, and a project which uses crowd funding to secure investment for civic projects such as new parks, sports facilities and playgrounds.

Chair of Capital Ambition board, Edward Lord, OBE JP, said: “The London Ventures programme will allow boroughs to tap into a range of innovative ideas from the private sector which can bring significant benefits to residents. It points the way for the sector to engage in a commercial relationship suited to today’s challenging economic environment.”

Darra Singh, Government and public sector partner, EY, said: “The unprecedented reduction in local authority budgets has created an urgent need for a new way of working between the private and public sector.

“With £9 billion spent annually on public services in London, the scheme involves using the bargaining power of the 33 London authorities, including the City of London, to allow private companies to come forward with proposals that have the potential to transform public services.”