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Business Models, Finance and Procurement


EU Access to Finance


Cities need a framework to enable economic viability of smart city solutions. This viability should be provided via new Business Models, Finance and Procurement tools.

The priorities are to: 
  • Create new integrated business models with innovative local partnerships (Local Ecosystem) and adapted procurement;
  • Create a European market for innovation that opens up investments.
Striving for broad uptake across Europe of smart city solutions requires in most cases new investments in combination with a more efficient use of the currently available resources in cities. Citizens’ support is important to get the needed initiatives going and accepted. Innovative solutions will only create jobs and growth if the market-pull from cities leads to a broad activation along the value chain to supply new materials for mobility and housing, new ICT systems to deal with the large amount of data and new energy systems. Combining existing available technologies and solutions is not enough. There is a need for a dynamic system of continuous improvement, creating the European critical mass for innovation uptake within available budgets and leading to sustainable growth and jobs.
The main challenges are:
  • Balance cities’ individual characteristics and requirements with the need for a modular approach which offers economies of scale and therefore cheaper and more broadly available technology solutions;
  • Balance city/regional requirements and strategies with national or broad EU policy goals (industrial policy);
  • Ensure long-term planning to build trust for (de-risk) investments.

Our ongoing initiative


Business Models, Finance and Procurement


Get in contact with the Business Models, Finance and Procurement Action Cluster at


by Konstantinos Papachristopoulos (ADDMA SA)
at 18:20, 18 December 2015

Suitable Business model for Athens in partnership with its local community, which can be shared with other cities throughout Europe. 


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Sustainable business model and a digital platform connecting stakeholders of the smart city local ecosystem to enable co-creation and development of new services based on open data and open infrastructure that the cities will connect to the platform. 

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by José María Diez (José María Diez)
at 10:16, 28 January 2015

Asociación Red Española de Ciudades Inteligentes (RECI), Spanish Smart Cities Association, is an Association created under the public law in Spain in June 2012, and officially approved by the Spanish Internal Affairs

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by Anna-Lisa Boni (Anna-Lisa Boni)
at 22:42, 14 September 2014

Through plenary sessions and workshops, participants will explore these and other themes related to current and future needs and developments around cities and energy efficiency.

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Development of a multicriterion framework for dealing with sustainability indicators for benchmark cities in the energy, transport and ICT domains.

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Interview - Business Models Action Cluster Meeting 21st May 2015

Interview - Business Models Action Cluster Meeting 13th February 2015

Interview - Business Models, Finance and Procurement Action Cluster


Cluster Andalucia Smart City

AIT - Austrian Institute of Technology

Aalborg Municipality

Management Team

Nathalie Guri (chair)


Ryan Titley (manager)

ERRIN Network

Latest comments

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