While we are still struggling to put the pandemic under control, Cities are trying to broaden their perspective and plan for pandemic-resilient urban communities. This brings pervasive connectivity and a reliable infrastructure under the spotlight, as there can’t be real innovation without a smart use of digital technologies.
However, the increased demand for digitalisation and enhanced services is mirrored by the increased need for funding: the execution of Smart City projects requires considerable investments, but the current economic climate forces many City managers to examine budget cuts and appropriate resources toward other initiatives, placing urban networking projects off for another day.
Flexible funding options are essential for Cities to expedite and streamline urban innovation. Efficiency as a Service (EaaS) is emerging as an evolution of Public-Private Partnership (P3) models, offering municipalities the opportunity to design and implement new services without impacting already strained budgets.
EaaS allows public entities to create a relationship in which the municipality purchases a service from a provider, which is responsible for delivering it through assets it owns, maintains, and improves. Such business model is becoming quite common for public asset optimizations and flexible funding of upcoming project.
Are you interested in EaaS and flexible funding solutions? Read more on Industry Insights by NMB Technologies Corp.