Microsoft co-founder and one of the world's richest men Bill Gates has entered the smart city space by announcing his role in the development of a sustainable, technologically advanced community in the Arizona desert.
Finance & Policy NA
The Canadian government has once again reiterated its commitment to the smart city movement by officially launching a new $50m 'Smart City Challenge'. The innovative project has been specifically designed to encourage communities nationwide in the country to leverage new technology.
A research firm has claimed that 'smart city' technologies could save governments, enterprises and citizens globally over $5 trillion annually by 2022. The claims were made by US firm ABI Research following their publication of a whitepaper which examined the impact of cities deploying 'smart' technology in major cities across the world.
The development of a new 'smart community' in Canada labelled one of the most ambitious projects ever undertaken in the country is underway. REZ Real Estate officially confirmed that the construction of District Union, a project worth $900m has begun and signaling the emergence of a 'new smart, organic community' in the home of the Maple Leaf.
US smart cities technology and media firm Intersection has formally announced that it has received $150m in a recent funding round which was led by US conglomerate Graham Holdings Company. New investors Arrow-Mark Partners and New-Spring also invested. The strategic plan behind the financing round is to accelerate the deployment of its smart city technology on a global scale.
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