Tools for Creating Business Models in Smart Cities

Today, cities are facing increasingly substantial challenges when it comes to delivering smart services through innovative technologies. Awareness about the necessity to enhance the management of smart services has surged in recent years. Local public administrations are subject to high expectations from their citizens when it comes to providing smart services, making it essential to evaluate this task. Successful smart cities require an adequate performance measurement system, as it enables the adoption of appropriate strategic decisions. Authorities responsible for implementing smart city projects must grapple with the challenging decision of selecting suitable systems for their municipality. They often resort to conducting public tenders, where established parameters such as costs or experience are taken into account. However, when planning the implementation of smart technologies into public services, other aspects should also be measured, and this is precisely where business models come into play. In the context of smart cities, there are several tools that can be used for creating business models of public smart services. Most of them are based on the frequently used Business Model Canvas. The result is the introduction of several tools for the creation of business models in the context of smart cities, which are separately described and compared. It is up to the specific city to consider which tool they will use according to their own preferences and needs.