A growing number of global cities are approaching smart transformation through a series of smaller projects, typically costing a few thousand to a few million Euros. Public sector budgets are often insufficient to take advantage of the benefits of smart city development, and so alternative forms of finance from the private sector has become a priority. This global study estimates the potential accessible funding that the top 40% of cities could be raising from private sector asset finance for these smaller-scale ‘SmartStart’ investments.
The study identified a selection of early stage smart initiatives that have a track record for delivering dependable return on investment and are currently being financed through asset-financing arrangements. These are:
building controls (energy efficiency),
improved medical technology,
citizen self-service online,
mobile workforce enablement,
e-bus and e-vehicles,
low-energy street lighting.
"In the past, Smart Cities were mainly explored by large cities that needed [large scale] solutions for growth. Now it’s time for all city managers to make people feel they live in the cities they want to live in.”
Mayor of Pila, Poland
Learn about the SmartStart accessible funding in 13 countries around the globe, and register to download the whitepaper now.