Some outcomes after 100 Citymart challenges


10X   *

more solutions presented by providers 

by opening up to new approaches and structured market engagement 

 

*

Sourced from cities reporting how many previously unknown solutions they discovered in the Citymart challenge process. Example: In 2010, Copenhagen (a city globally leading on bicycle innovation) knew of 4 of the 37 solutions submitted to the Citymart Future Bike challenge. This means that the city knew one tenth of available solutions to their challenge.

 

80%   **

cost saving 

by increased competition, finding new approaches or avoiding re-invention

 

**

Citymart calculates this average based on the results of 100 challenges run to date and results reported by cities. It is a composite, based on statistical occurrence, of three primary factors that affect cost; cost savings here include direct additional revenue. Firstly, Citymart effectively eliminates the cost of re-invention, which typically is a saving of over 95%. Secondly, results have shown that finding new approaches can deliver transformative savings of over 98%. Thirdly, according to the Citymart impact model developed by McKinsey & Co, increasing competition by having more vendors brings down cost by an estimated 10%.

 

98%   ***

contracts won by SMEs, start-ups and social entrepreneurs 

by better risk management, understandable and simpler processes

 

***

Out of the 100 challenges run by Citymart with 57 cities between 2011 and 2015, 98 were won by SMEs, 2 by corporations.