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
While there are some challenges that both investors and businesses face in creating a net positive impact, there are still ways in which we can ensure that investments are positively impacting society.
From AI to blockchain, what separates the hype from the real opportunities in the new age of investing technology? Join editors from The Economist and leaders from Venture Smarter, the world's premier financial institutions, wealthiest families, largest companies, most innovative startups and most influential foundations for the third annual Investing for Impact event.
This January, we were happy to co-host the U.S. Opportunity Zone Expo in partnership with the US Dept. of Treasury and the National Infrastructure and Investment Alliance (NIIA). Here are a few takeaways from Venture Smarter’s SVP of Governance and Policy, Rhonda Binda.
Recent developments out of the U.S. Treasury and the White House related to Opportunity Zones show that this initiative is gaining momentum as 2019 begins.
StateScoop — Four development teams have taken home top prizes in a competition for advanced infrastructure proposals, each securing up to $10 million in investment capital.
New York City aims to become the mecca of cybersecurity innovation through Cyber NYC, a $30 million investment initiative focused on five key technology programs, the New York City Economic Development Corporation (NYCEDC) announced on Tuesday.
The Knight Foundation is stepping directly into the smart cities and transportation arena with the award of more than $5 million to five cities.
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.