Description
The Smart Cities Marketplace is designed to engage cities and towns of all sizes in delivering more sustainable urban environments. It offers a comprehensive set of tools and services to explore solutions, shape urban projects, and close financing deals for sustainable initiatives.
level of support
EU-wide
support area
Mentorship and Coaching, Peer-learning, Training and Capacity Building, Financing Support, Stakeholder Engagement
Support scope
Smart Cities Marketplace offers a complete catalogue of support such as calls for free technical assistance, 1-to-1-consultancy services for city-led consortia close to the financing stage, financing masterclasses and fine-tuned assistance/matchmaking for the financing of sustainable urban projects.
Eligibility criteria
To be eligible for support from the Smart Cities Marketplace, cities or city-led consortia must be working on sustainable urban projects in areas like energy, mobility, and smart infrastructure. The platform is open to cities of all sizes that aim to enhance sustainability and urban resilience.
Application Process and Timeline
The Smart Cities Marketplace application process is designed to guide cities and consortia through three key phases: Explore, Shape, and Deal, based on the maturity of their sustainable urban projects. Applicants begin by completing an online intake form, which includes information about their project’s financial viability, risks, and a self-assessed Project Maturity Level (PML). Early-stage projects enter the Explore phase, where they receive guidance on shaping their project ideas. More mature projects advance to the Shape phase, where they benefit from 1-to-1 consultancy services and technical assistance to make their projects investment-ready. Highly mature projects, assessed at PML 6, can fast-track to the Deal phase, where they engage in meetings with potential investors for financing. Applications are open continuously, and matchmaking events and workshops are held throughout the year to facilitate project development.
Evidence Of Success
The Smart Cities Marketplace is making a significant impact by helping cities and communities shape and finance their sustainable urban projects. To date, it has facilitated the development of 127 bankable project proposals, with a total of €716 million in projects matched with investor interest. Additionally, the platform boasts a growing network of 18 investors, further enhancing its role in securing funding for urban sustainability initiatives.
Expert Opinion
The Smart Cities Marketplace is highly relevant for energy communities, offering technical support, 1-to-1 consultancy, and matchmaking services that help them shape their projects and secure funding. Through the Energy Management for Energy Communities Focus Group, energy communities can collaborate on city-led consortia, joining forces to implement renewable energy solutions and smart energy management systems.
