Bridging the Gap Between Citizen Benefits and Bankable Investments of Smart Cities

During the Venturous Session on 12 April 2023, Mr KC Tay, the Executive Director (ASEAN) of the Smart Cities Council, highlighted the four essential aspects of a successful Smart City. He emphasised the need for a citizen-centric approach, where improving the quality of life for citizens should be prioritised over solely focusing on the implementation of technology.

KC also stressed the importance of data in the development of Smart Cities. He noted that collecting and analysing data could inform decision-making and help improve city services, making it a crucial component in building successful smart cities.

Furthermore, KC argued that public good projects could drive business models by supporting citizens' livelihoods and improving their quality of life. The Smart Citytech industry has created numerous opportunities for businesses and entrepreneurs in recent years, making it possible to achieve both social and economic goals.

Lastly, KC discussed how developing youth leadership could be a sustainable model for building smart cities. Young people bring fresh ideas and innovative thinking to Smart City projects, making it necessary to invest in youth leadership to achieve long-term success in building citizen-centric Smart Cities.