The Economy of Data as the new Source of Funding creating Smart Cities

 

Transforming a city into a smart city is a matter of open-mindedness. But not just it is also a matter of the financial recourses. Particular if innovation and technical know-how from the privat sector is needed. To improve the funding the new economy of data comes to play. 

Data are a valuable asset to facilitate an ecosystem of partners. Generating new business opportunities. Or inviting innovators.

A leading example is the Greece Capital Athen as the European iCapital 2018, to make something from nothing. Further successful examples regarding, how can the public and private sector can work together?, are featured by McKinsey Global Institute.

So how can this work in practice?

A new data economy: Funding city services

The dramatic effects on cities in Scotland, and around the world, of digital technologies are evident every day. Across any city’s infrastructure – its roads, transport systems, sewers, communications networks and energy grids – more and more citizen services are provided using digital technologies.