I recently went ‘down under’ to discuss infrastructure and benefits of “Smart Cities” with business owners, government officials, and family office investors. Smart cities aim to improve urban life by connecting services and constituents more efficiently by integrating multiple tech solutions. And the greatest benefit comes from a thriving community where city dwellers are empowered to be sustainable, prosperous, connected and inclusive.
Elements of smart cities consist of bus kiosks disseminating city information; seamless advertising of city services and businesses; fiber connecting the internet on one system; public transportation, utilities, and parking, all organized and connected to work together as efficiently as possible. Smart cities are in their first iteration, 1.0. This is a fantastic foundation for the smart cities of the future, which will continue to innovate and disrupt the status quo. As populations grow and more people move into urban regions, cities need to evolve and continue this important transformation.
However, budget constraints prevent cities from fostering these projects. That is why private sector participation is crucial. Public/private partnerships have been in existence in varying forms since the beginning of our economic system. These partnerships are key to creating a better world in our cities. A public/private partnership means that a private, for-profit company provides financing, services, or infrastructure. Both parties share in revenues and build the future together in partnership with all parties thriving.
Montcalm provides consulting services alongside these partnerships to help create innovative financing models, where both large and small investors earn investment returns by providing the capital to build smart cities. We are connecting thriving communities with thriving capital – cities receive financing to build infrastructure to make them a better place to live, and investors hold assets that help in their own financial sustainability. Its’s a relationship where everyone ‘wins’.
On a side note, Australia is amazing! The countryside is beautiful, the food is amazing, with its abundance of fresh ingredients, and the people are warm and open minded. And I am reminded that in today’s world, we need to continue to look for the expansive energy and motivation in companies, industries, and cities to bring positive change for all! Please contact us at firstname.lastname@example.org with questions or if you want to be on our contact list.