RESEARCH | The need for sustainable urbanization is a major—and ever increasing—challenge of our time. Many conventional and less conventional plans have been designed in order to experiment with tackling some of the pervasive harmful components of big city living. Every once and again, a real out-of-the-box one pops up. The plan for the building of the model smart city near Paredes, Northern Portugal, certainly qualifies.
A brand-new model sustainable city for 150,000 people is going to be created in Paredes, near Porto, in Northern Portugal. This is not your typical sustainable urbanization project: the plan is, unusually, to create a brand-new sustainable city in an already developed country. Sofar, a number of partners have agreed to collaborate and to, ultimately, take the resulting technology to the global market.
Living PlanIT is a technology start-up and one of the partners that recently announced to be involved in the creation of the sustainable smart city. Living PlanIT's founders are software guys with impressive credentials, not real estate developers. Yet, they have developed an ambitious and seemingly viable business model for addressing the challenge of the need for sustainable urbanization. The basic idea goes as follows: an ecosystem of large and small company partners will be created that will focus on products and services for sustainable urbanization. The people that are brought in to actually produce those products and services will be the anchor occupants of the model city. It is anticipated that this activity will then go on to attract other businesses and inhabitants.
Read the complete Harvard Business Review article on Living PlanIT's new city, "A Bold New Model for Sustainable Cities".