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Liverpool to start the Future State CoFoundry

The project aims to avoid prescriptive solutions to urban problems offered by the private sector and to give cities the power instead to determine what works for them

  • July 23, 2018 16:00
  • Author Olya Georgieva
Medium liverpool pier head from albert dock
Source: wikimedia.org

The UK city of Liverpool is starting a co-foundry with cities around the world to attract private investment in shared municipal challenges. Members of the network, dubbed the Future State CoFoundry, will pay a nominal fee of 6000 GBP to gain access to affordable solutions. Cities may also take equity stakes in businesses that emerge from exchanges with vendors and investors.

The project aims to avoid prescriptive solutions to urban problems offered by the private sector and to give cities the power instead to determine what works for them. Cities typically do not open themselves up to potential partners. The co-foundry will push local governments to ask how they can invest collaboratively in their citizens’ most genuine needs. A full list of confirmed cities will be available in the coming months of 2018.

Source: Cities Today