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Business Models, Finance and Procurement
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The Action Cluster Business Models, Finance & Procurement creates pace, scale and impact by acting along three interconnected axes:
1) Business Models; 2) Finance & Funding; and 3)Procurement.
Innovation, dissemination and acceleration is found at the heart of this Action Cluster, our Action Cluster actively connect the dots. Our work boosts the work of the EIP community as whole and in particular the Commitments within the vertical Action Clusters, we are the advisory and knowledge hub of the EIP Community.
Through collecting, disseminating and making available knowledge about innovative business models, financing and funding models and procurement models, we help the wider EIP community develop and scale faster.
By engaging the financial community in smart sustainable city development we increase the flow of resources to the commitments.
By identifying new needs for knowledge, models and tools within business models, financing and procurement, we open up for and stimulate innovation in these fields.
Existing business models, finance & funding instruments and procurement schemes do not always fit today’s challenges within our cities and urban communities. There is a strong need for knowledge sharing, innovation and expertise on business models, finance & funding and procurement. Therefore, the AC aims to develop knowledge and tools to guide Smart Cities projects in the search for funding sources and business schemes to tackle their market.
The AC will make an effort to enhance cooperation among the main actors in the field (cities, financial institutions and industry players) to learn from past experiences and develop innovative financing/business schemes specifically useful for Smart Cities initiatives. These entities need to be encouraged to work together in order to:
- Establish a dialogue between public and private sectors
- Ease the access of cities to financial instruments
- Agree on capacity building activities.
The AC will implement the following initiatives:
1) Collaborating with a Finance Expert Working Group:
The group wish to be a platform for The first meeting of this group took place during the las General Assembly in May 2016 (please see here for the minutes) .
2) Elaborating a funding guide for projects and initiatives: this funding guide will gather the most relevant European funding and financing sources for Smart Cities projects. It seeks to be an interactive tool that will offer a tailored result according to some criteria, such as country, type of organisation, sector and method of funding.
3) Gathering business models case studies: the AC aims to gather examples of good and bad practices on the development of Business Models for Smart Cities projects that have been already implemented and tested. The final objective is to elaborate some guidelines on what to go for and what to avoid.
4) Producing a report on Local Innovation Ecosystems (LIE): this is be a case study-based report that outlines why systemic initiatives to strengthen and govern your LIE are important and how they can contribute to increasing the innovation capacity for smart sustainable city solutions.
5) Capacity building and knowledge sharing.
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1. Q2 2016: Finance Expert Working Group(FEWG)
Deliverable: ‘First meeting of FEWG in May, during the EIP SCC General Assemble’. New meeting are being organised for November 2016.
2. Q4 2016: Interactive Funding Guide
Deliverable: Inclusion of a fully operative interactive funding guide available in the Market Place website (add link).
The Funding Guide contains the main European Funding and Financing sources for Smart Cities projects. It is regularly updated in order to offer the most accurate information.
3. Q3-Q4 2016 Case studies
Deliverable: Gather business models examples of already implemented projects (both successful and unsuccessful)
Deliverable: Analysis of collected examples by the end of 2016
4. Q2-Q4 2016: Report on local ecosystems
Deliverable: First draft of the report on local innovation ecosystems at the EIP GA 2016
Deliverable: Final version of the report on local innovation ecosystems at the AC Meetings in November.
5. Capacity building and knowledge sharing
Deliverable: exchanges of information documents and capacity building webinars.
During the Business Models, Finance and Procurement Break-out session at the EIP-SCC 2016 General Assembly, the Action Cluster members presented its on-going initiative on the creation of a Finance Expert Working Group. The presentation was supported by three European initiatives focused on urban development and energy efficiency financing: CITYnvest, SMARTimpact and the online investment survey conducted by the Covenant of Mayors.
The Roadmap for 2016 is:
- Creation of a Finance Expert Working Group in order to ensure that cities, financial institutions and industry players can work together
- Funding Guide: gathering the most relevant European funding sources for smart city projects and initiatives (Check the funding tool: https://eu-smartcities.eu/funding-guide - only available once you are logged in the web page.
- Report on Local Innovation Ecosystems for Smart Cities: this report outlines why systemic initiatives to strengthen and govern a LIE are important and how they can contribute to increasing the innovation capacity for smart sustainable city solutions.
- Business Model Case Studies
To know more...
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