3 The future for smart cities
You’ve reached the point at which you draw together your learning from all six weeks of the course and complete a first draft of your Business Model Canvas for your smart cities project.
Completing your Business Model Canvas
You made notes last week in five of the segments of the Business Model Canvas, starting with the value proposition. This week you’re thinking about how you’ll deliver the project. Spend as much time as you need to think through the remaining facets of your project. As you add your notes be sure to identify areas where further work is needed with your living lab participants.
Use this guidance and remember this is a draft. You can come back and refine these ideas after the course ends.
Who will help you? Identify your key project partners and what motivates those partners to be involved.
What do you need? What key resources do you need to deliver your project – people, money, physical assets, open data, guidance?
What will it cost? What will the project cost and which are the most expensive resources or activities? Do you require funding to get off the ground? Think back to what you learnt in Week 4 here. Are you focusing on public or private finance? Or could this be crowdfunded?
How much will you make? How much will your audience be willing to pay for the product or service, and how much revenue can you generate? You might need to do some research with potential users here. Also capture social and environmental benefits here as they may be more important than revenue.
Activity 4 Adding to your Business Model Canvas
Complete a draft of your Business Model Canvas.