Leading Cities has launched a global Smart City startup competition to provide technology startups with capital which they can use to improve their solutions or in partnering with cities to deploy projects.
The aim of the competition is to facilitate sustainable growth, resiliency and quality-of-life improvements for cities around the world by helping technology developers address challenges such as commercialisation of products and services.
The project is expected to help startups reduce the costs of innovation and sales cycles.
The project will connect startups with decision makers in city governments, businesses and investors in ten countries.
The project will shortlists semifinalists who will participate in a month-long virtual mentoring programme.
Finalists will participate in the AcceliCITY boot camp in the fall of 2018 in Boston to receive support from local mentors and globally recognised Smart City experts.
For instance, AcceliCity will partner with the Massachusetts Clean Energy Center to provide startups with fully funded incubation space in Massachusetts. The Clean Energy Track will focus on advanced technologies that support the integration of renewable energy or significantly reduce the use of energy from non-renewable sources.
Michael Lake, CEO of Leading Cities, said: “Cities have an amazing opportunity to capitalize on a technological revolution but are finding it a challenge to identify and properly vet these new technologies. AcceliCITY provides a common ground for growth by matching entrepreneurs with expert mentors, understanding best practices for doing business with governments, and gaining access to investment funding.”