Urban centres and metropolitan areas are increasingly integrating cyber-physical technologies to optimise the use of resources and enable a higher quality of life. Innovative business models and digital technologies are transforming how services are delivered in cities and regions. The development of these new digital solutions has the ability to address the challenges brought by an increasing urban population. However, key investments and the existence of critical physical infrastructures are required to develop and successfully implement many of those capabilities.
The volatility and the rapid evolution of the digital world forces investors and policy makers to constantly adapt or create new enabling infrastructures addressing the most fundamental requirements of digital stakeholders (businesses, universities, accelerators, incubators, ..). Though cost-effective and strategic, these high investments are not often judged as a priority by local policymakers. Budgetary restrictions and the scarcity of public financing require greater selectivity towards the digital infrastructures of European local territories. Innovative financial models are therefore critical to ensure the availability of the technological infrastructures needed for the transformationof the ecosystem.
European cities and regions are striving to invest in technological infrastructures to deliver value and to drive forward a favourable business environment. Urban centres and metropolitan areas are increasingly integrating cyberphysical technologies to optimise the use of resources and to enable a higher quality of life however in peripheral and rural areas, investments in digital infrastructuresremainoften limited. Large differences can therefore be observed between European localities. While in certain regions austerity measures and tight budget constraints are preventing investments in advanced technological infrastructures, in other territories investments in cutting-edge technologies are being considered as a key priority.
3 key success factors
- Ensure the availability of critical digital infrastructures for the digital transformation of local businesses
- Secure investments in digital infrastructures
- Ensure the economic sustainability of local investments in digital infrastructures