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.
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%.
contracts won by SMEs, start-ups and social entrepreneurs
by better risk management, understandable and simpler processes