Challenge Issued: $50 million for Smart Cities Projects Revealed at Smart Cincy Summit
CINCINNATI, Ohio — April 26, 2018 — Working in concert with the U.S. Department of Homeland Security, the U.S. Congressional Smart Cities Caucus and private investment firms, Cincinnati-based Venture Smarter is transforming the smart cities conversation into action.
Smart cities leader Venture Smarter announced Thursday at the Smart Cincy Summit that at least $50 million will be made available to winning entries in the 2018 Smart Infrastructure Challenge. Entries will now be accepted until May 31, 2018, and top teams in each of four project tracks will have access to grant resources, support, and access to project financing.
The four project tracks include Smart and Connected Development; Smarter, Safer Streets; Critical Infrastructure; and Next Generation Infrastructure. Winners will gain access to grant support and project financing ranging from $1 million to as much as $10 million, Venture Smarter VP of Policy Rhonda Binda said.
Smart City Capital CEO Oscar Bode, whose firm is a financier of the Smart Infrastructure Challenge, will provide as much as $10 million to the winning project in the Smart and Connected Development track. “That doesn’t mean that if we identify a bigger project and it would make business sense, that we wouldn’t support it,” said Bode, who added that there was as much as $3 billion set aside for the right projects.
“The 2018 Smart Infrastructure Challenge is different because it is dynamic in nature,” Venture Smarter Chief Strategy Officer Mitchell Kominsky said. “It is meant to spark and accelerate interdisciplinary and interagency collaborations while leveraging available resources and capital. All teams, not just winners, will receive ongoing support, guidance and resources.”
“We are working together to make available more support, more funding, and more resources from the federal government to enable smart development for communities of all sizes,” Venture Smarter CEO Zack Huhn said at the second annual Smart Cincy Summit on Thursday.
Continue reading on SmartRegions.org
The National Science Foundation has launched a prize competition called the NSF 2026 Idea Machine - a competition to help set the U.S. agenda for fundamental research in science and engineering.
Projects that promote regional economic development can capitalize upon the unique strengths of specific rural areas. USDA Rural Development helps finance these projects by helping applicants overcome multi-jurisdictional challenges and by helping leverage federal, state, local or private funding.
The AdvancingCities Challenge will make investments of up to $3 million in cities to support creative, collaborative and sustainable solutions that address cross-cutting challenges to help more people benefit from a growing economy.
Tool provides those looking to invest in Cincy with 24/7 access to City
Brookfield Infrastructure Partners said it has another $400 million worth of deals in the pipeline after a flurry of acquisitions in the past two months.
Startup Nation wants to draw entrepreneurs to use technology to meet the challenges facing cities in and out of Israel
The first 25 teams to submit their initial response for the 2018 Smart Infrastructure Challenge are receiving support from Venture Smarter to prepare presentations, match with teaming partners, and explore the opportunities and challenges presented by smart - or IoT enabled - infrastructure and development.
For many companies, the tax bill that was signed into law just before Christmas was good news. It would lower their tax liability and boost earnings. But utilities are not like other companies.
After picking up $250 million in equity funding from Softbank earlier this year, the small business loans and finance company Kabbage — which uses only algorithms and machine learning (no humans) to determine an applicant’s eligibility — is announcing another big infusion of money. The company is picking up $200 million from Credit Suisse in a revolving credit facility that it will use for loans.
In an era of political tribalism, infrastructure investment is one of the few areas of American public policy that polls well among everyone. Which makes sense; who doesn’t like the idea of filling potholes, new airport terminals, and water systems that don’t burst?
It is hardly surprising that this policy clarification, finalized by the Governmental Accounting Standards Board (GASB) in a unanimous vote, failed to make headlines, or even any news. But given the vital implications for water utilities and their communities nationwide, it probably should have.
At the 2018 Smart Regions Conference leaders from across the United States and North America will highlight their success stories, challenges, and opportunities to collaborate to build smart cities and regions rooted in community impact and resilience.