TEAM 1 // LIVING CITY
LIVING CITY: A city designed by its own community
Imagine a place where you can safely open your ice cream shop knowing that many children after school will flow in to get their beloved frappè. A place where you can take just a 10 minutes walk to get your new minimalist lamp for your desk. Here, livability, sustainability and happiness matter and play in favour of citizens, entrepreneurs and investors.
TRACK WE COMPETE IN
TRACK: Green transition, Science City Lyngby challenge.
Cities are experiencing a growing population; along with this, the complexity is rising and putting under pressure the creation of sustainable and livable places where the community can feel a sense of belongings and respect our planet. Moreover, different players are present in the context of a city and everyone has their interest that could be conflictual and detrimental for the environment. In this situation, land consumption and sustainable urbanisation are among the main challenges cities struggle to overcome and the one for which we think we have a solution.
We envision a future where different players can thrive together in cities designed to maximise their livability and attractiveness, where old buildings can have a new life and citizens feel at home. Starting from this challenge, we have developed a tool which aims at using smartly the available spaces already present in a city rather than constructing new ones.
OUR CLIENTS AND USERS
Our final customer will be private organisations and real estate investors. However, it is important to note that the final users will be the citizens (and the public institutions) as they can all live in a place designed for their needs.
Our offer consists of two main services for both entrepreneurs and real estate investors. On one hand, a comprehensive and structured analysis of community interests, urban structure and available data packed to deliver insights not only on where but also on what and how to open a business. On the other hand, a partner to navigate the market, find the right counterpart or deal with the public administration.
Our project is built around a network of stakeholders who are both the providers of some of the inputs required and those who benefit from the output: the clients. We envision a city where there is a link between citizens and businesses. This future will be fed with feedback from inhabitants that through a dedicated digital environment can provide frequent and specific information. This feedback experience enables us to provide entrepreneurs and real estate investors with easy to use and insightful data that will allow them to make more thorough decisions and align the interest of the local community with the interests of the enterprises and organizations.
A closed feedback loop is created to increase the flexibility of the neighbours, making it responsive to changes in needs and behaviours of the community who shapes it. Additionally, available data sources will be integrated for further detailed analysis and provide even more significant recommendation for the clients aiming not only to decrease the risk for a new business but also designed to close the gap in connection between new technology and public administration, empowering them with actionable recommendations.
The technology and operations
Our core operations are the aggregation of data and the generation of an insightful report designed for different stakeholders from entrepreneurs to real estate investors. The digital infrastructure will be built around a community engagement platform that represents the digital frame to orchestrate and convey the information from the city. On top of these qualitative data, we will be able to enrich the analysis with digital data obtained from online providers such as Google Maps.
Community engagement platform
This platform can be split into two dimensions: online and digital. The offline dimension is an in-town space called Community Hub aimed at providing valuable information and displaying community events with a dedicated corner for the feedback experience. Furthermore, this place will serve as a meeting point for the local community where will be hosted talks and workshops. The digital, on the other hand, is a web space to live the feedback experience. The feedback experience is a dedicated digital environment through which citizens can provide information regarding their needs and behaviour answering tailored questions. (what do you need, behavioural questions, habit questions).
We deliver a solution to orchestrate different interests and drive the evolution of urban districts towards a better and sustainable future.
We believe that the uniqueness of this project lies in its priority to solve social issues providing a perspective that balances the interest of all the stakeholder involved and that generates consistent spillover that results in additional benefits for the society at large. It is unique because it fulfils the essence of entrepreneurship where the business dynamics is not only the engine of the profit but also of the social wellbeing.
FINANCIALS AND FINANCING OPTIONS
Our project, due to the way it has been developed, will designate to each city a different business unit. In this scenario, each city will have three sources of revenues. First, fees from entrepreneurs to access a detailed analysis regarding the behaviours needs and habits of the local population. Secondly, fees as a percentage of the contracts closed through our platform for demand and offer aimed at easing the process of finding the proper business for specific needs. Lastly, event management consultancy for brands to address the interest of the community while promoting their business (e.g. a yoga event in a public location). Complementary to the three sources of revenues, there will be three main sources of costs: wages of the Hub personnel (fixed amount over the year per hub), renting cost (fixed amount per hub) and promotion (proportional to the revenues). To conclude, it is important to highlight that other than these outflow of money, the project needs an initial investment for the development of the platform and the algorithm (one-off investment) plus an additional investment per hub opening to buy its equipment.
According to research, the market is extremely promising and, basing on those we expect to break even around the fifth month and become cash-flow positive around the eight month. Whether it will more or less depend on the dimensions of the city, for the biggest metropolis could be necessary to open more than one hub.
We would like to use a mixture of self-financing and equity capital raise (or crowdfunding) to finance the initial investments and the first eight months (the need is forecasted to be around 50.000€) in the first city. Once sufficient liquidity is guaranteed with enough certainty, we would switch to introducing leverage to not dilute too much the equity structure.
The impact of our project can be articulated in 4 main areas:
- Cities will be more sustainable as by maximising the utility of unused buildings, spaces and urban areas, the impact of land consumption will be minimised. Moreover, by having most of their wants near their home, citizens will have to move less and this will bring a reduction in atmospheric and noise pollution, road hazards and stress.
- Citizens will benefit from the increase in their general wellness as they can dispose of more green and livable districts where they find whatever they need.
- Businesses, by finding locations where the market can provide a flourishing demand and engaged customers, can see their revenues maximised and profits increased. Furthermore, there will be less uncertainty when opening a business, resulting in a more tailored and efficient kickstart.
- Real estate owners and investors will be able to rapidly find a partner able to guarantee a stable inflow of money for their unused spaces and investments. Moreover, collaterally, they will benefit from a comprehensive increase in the value of their investments in the area (as there will be an improvement of wealth and wellness of the neighbourhood resulting in a higher demand for real estates).
OUR TEAM AND MOTIVATION
We are a group of friends with different backgrounds, from physics to engineering and to finance, spread all around Europe: Paris, London, Copenhagen and Brescia. We have been working together on different projects and the virtual innovation sprint has been a tailored opportunity to test out one of them. We are very committed to the green challenge traditions, not only on this project but also in our life.
Davide Bodini – Strategy/Business development: firstname.lastname@example.org
I am Davide, Master in Management student with a couple of experiences in listed companies in Italy (Fincantieri) and Germany (Siemens), helping engineers with a business perspective and a good sense of organisational variables in high complexity environments (R&D, redesign…). I am passionate about smart cities and healthcare especially when it comes to innovation. Hopping to be soon a shaper of a more sustainable society.
Edoardo Allorto – Strategic financial management: email@example.com
I am Edoardo, Master in Management student with experience both in a startup as a business controller and in a listed company as a performance management analyst. Starting from September I will commence a six-month internship as an M&A analyst in London. I am passionate about building from scratch the financial strategy of a company and ultimately I am focusing my interest in learning how to do it most sustainably.
Giulia Guarda – Engineer : firstname.lastname@example.org
I am an MSc student, specialising in Nanotechnologies devices and cleanroom-based facilities. I have a background in Physics, completed with a tailored internship at Elettra Sincrotrone, where I joint research activities bridging the fields of ultrafast laser spectroscopy and quantum information. I am strongly committed to the green challenge transition unconventionally, as it brings together my passion for quantum engineering and the desire to shape a better society to live in.
Matteo Gambera – Engineer: email@example.com
I am a master’s degree student in industrial automation engineering. I have worked on several robotics projects in the field of safe human-machine interaction and advanced control methods. I am passionate about data analysis and its potential to find and solve problems.