CONNECT: Sydney A New Platform for City Development August 2017 Councillor Craig Chung, City of Sydney 1

August 15, 2017 The future of our world rests in the future of our cities Society Economy 70% 80% of the world’s population will live in cities by 20501 of global GDP generated from cities2 Innovation Environment of the world’s patented inventions3 93% of global CO2 emissions2 70% 1 OECD 2 World Bank 3 CityLab

August 8, 2017 To manage growth, cities face a complex, seemingly intractable set of challenges. City leaders are feeling a growing urgency to take action. Obstacles are mounting but solutions are not forthcoming. Shrinking budgets Aging infrastructure Diminishing environmental resource Rising economic inequity Shifting demographics and labor markets City leaders are now willing to put their political capital behind these issues. Governments see upgrading transportation systems as a quick pathway to drive business activities, citizen inclusion and sustainability Economic development is one of the main drivers for government to achieve social inclusion and equality Governments are becoming more deeply committed to providing access to jobs and economic growth as a way to improve standards of living and improve the day to day affordability of living in cities.

August 15, 2017 Forward-thinking organizations who can meet these challenges will write the next chapter in urban development - and capitalize on the opportunities. $3.5 Trillion USD $41 Trillion USD Revenue from smart city technology will grow over the next 10 years1 This revenue will grow even more dramatically over the next 20 years2 1 Persistent News Research Report 2 CNBC

August 8, 2017 No single player can solve these challenges at scale. Cities, corporations, and institutions must come together to build the cities of the future.

Transformation will require a fundamental change in the way city leaders and solution providers work together. Cities operate with a lack of … Solution providers operate with … Standards. Cities are operating with a lack of standards in implementing smart digital technologies, and there is no clear mechanism to implement these solutions. Cohesive solutions. There is no comprehensive 'smart city' development partners for municipality, instead requiring them to manage multiple relationships Sustainable business models. Cities fear depending on vendor for solution to function and operate for a long term Testing and results. Cities are typically risk averse and look for solutions are tested and proven Lack of integration. Most companies offer solutions designed to address a particular urban challenge rather than addressing city development holistically and from an ecosystem perspective Poor cross-sector cooperation. There are too few high level partnerships between corporations that enable them to offer comprehensive solutions to solve cities’ complex problems. Little to no collaboration. Most relationships see the city as a client rather than a partner.  

A new model for private public partnerships is required To guide a comprehensive solution-based model that integrates smart digital solutions throughout city systems To adhere to a collaborative, co-development approach, delivering significant benefits for citizens, cities and corporate partners To create a sustainable revenue model that allows savings from solutions to be reinvested in the future city transformations and to provide continued revenue for corporate partners

August 8, 2017 Vision: To build a new path forward for co-developing, piloting, and scaling solutions throughout global city systems through a new model of private public partnerships

Sneak Peek… This project will bring together stakeholders to prioritize the needs of communities, co-develop solutions, accelerate scaling technologies and strengthen the new triple bottom line: benefiting citizens, cities and businesses. We will connect leading companies, cities, institutions and citizens to co-design, test, pilot and scale repeatable urban solutions based on open standards globally. This inclusive approach will result in a future-facing platform that puts citizens in the front and center, allows for savings from solutions to launch next steps of smart city transformation and provides ongoing revenue for partners.

This work must be done in collaboration. Partners will jointly invest, share strategy, and share profit. Partners are driven by common ideals: Thought leadership Business success Leading for impact

Together, we will focus on the biggest issues facing cities today and in the future. We will decide on challenges using the following the criteria: URGENCY: Is it a pressing problem that cities face today and will continue to face in the future? VIABILITY: Is it an issue that cities (or through a coalition of cities) can address - not dependent on federal regulations? Is it an area where the private sector can play a major role? IMPACT: What positive impact will it have on a city's cost base and the quality of life of citizens and visitors? SCALABILITY: Are there large enough partners who can deliver scalable solutions globally or across multiple markets? STANDARDIZATION: Can the issue be address by global standards, i.e. is the solution open standard based (or can become standard based) and scalable?

6 Global Cities Worldwide & Local Partnerships Smart Solutions Citizens 6 Global Cities with Government Worldwide & Local Partnerships Smart Solutions NGO’s Business Urban Problems With Solving Entrepreneurs

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