How About Value Chain in Smart Cities? Addressing Urban Business Model Innovation to Circularity

In the last years, the concept of “smart city” has been the subject of increasing attention in urban planning and governance due to the sustainability challenges and great technological advancements. Although the relevant literature highlights those smart cities can create a fertile environment to drive innovation from a technological, managerial and organizational, and policy point of view how smart cities function, in terms of their value chain and in light of sustainability and circularity is still an open question. Based on these considerations, this work aims to investigate how smart cities deliver value by combining environmental, societal, and financial priorities to re-imagine their core business models and shift the boundaries of urban competition in light of circular economy principles. To reach this goal, the tool Sustainable Business Model Innovation Canvas has been applied in the urban context with the aim to create and leverage an environmental and societal surplus in light of circularity in the smart city framework. Preliminary results shed light on new vistas on the future and new challenges of smart cities particularly relevant for facing the current complexity of the economy, social, and environmental changes.