DUBAI, U.A.E., 10 December 2015 – Cisco and Whitehelm Capital (“Whitehelm”) today announced a new global collaboration to provide funded Smart City solutions to cities.
The global collaboration is a completely new approach to scaling Smart Cities around the world leveraging best in class technological capabilities from Cisco and extensive experience in financing global infrastructure projects from Whitehelm Capital. With rapid urbanisation ability to improve City Infrastructure Management and offer new Citizen services on a digital backbone will increasingly define social, economic and environmental success for Cities.
Critically, cities will not be required to fund the upfront costs associated with the implementation, lessening the burden on their balance sheets. The initial investment is recovered over the life of the concession and additional value is shared between the city and investors from Smart City applications.
“The global collaboration between Cisco and Whitehelm will offer long-term benefits to cites by providing a Smart City infrastructure, offering a variety of new urban services as well as improved management of existing city assets,” says Matt Smith, Cisco’s Global Head of Market Development – Internet of Things.
This collaboration will provide best in class technological capabilities combined with an innovative financing mechanism, the “Smart Concession” model. The Smart Concession financing solution is designed to allow cities to accelerate the implementation of a Smart City through a digital infrastructure and capture the benefits of a more dynamic, innovative and eco-friendly city environment.
Historically, Smart City deployments have been constrained by budgetary considerations.
“The Smart Concession solution bridges the funding gap by addressing the issue of cities having to make trade-offs between technological investments such as public WiFi with social investments such as schools and hospitals,” added Stephen Burns, Whitehelm’s Head of Infrastructure for Europe and Americas.
“Institutional investors have reacted very positively to the opportunity of funding critical social infrastructure. The short term pipeline of opportunities is dense and attractive”.
The implementation of IoE infrastructure can deliver wide-ranging benefits for cities and citizens, including dynamic sensor-based street lighting, optimized parking and traffic management, public safety and security, more efficient water and waste management systems and real-time urban services for city operations and management.