Challenge Issued: $50 million for Smart Cities Projects Revealed at Smart Cincy Summit
Venture Smarter and RSCI reveal new collaborators and financing partners for the 2018 Smart Infrastructure Challenge to give communities of all sizes access to public and private support
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.
About the 2018 Smart Infrastructure Challenge
The 2018 Smart Infrastructure Challenge calls for regional teams to add a layer of smart and connected technologies into infrastructure planning and relative efforts. Teams have until October 25th to create a project vision and presentation to compete for grant resource, support, and access to project financing. A letter of intent must be submitted by May 31st, 2018 to qualify for participation and support.
About Venture Smarter
Venture Smarter is developing strategies and technologies to innovate how leaders across industries, sectors, and agencies can work together on smart development and infrastructure projects throughout cities and regions. Venture Smarter’s founders are mission-driven industry experts coming from The White House, Institute of Electrical and Electronics Engineers (IEEE), State Department, U.S. Senate Leadership, technology startups, and other leading organizations.- The company is based in Cincinnati, OH, with offices in NYC, and Washington DC.
Jamie Sordo, Jamie@venturesmarter.com, + 224 456 5454