Business Activities in Smart Cities of Greece: A Qualitative Study

Modern urban centers are complex ecosystems consisting of other subsystems and networks which purpose is to ensure a long-term sustainable development and quality of life. This research focuses on both the development of Smart City services and applications by private entities and the investment trends in Greece. Under study are the business prospects rising from the new, small, and innovative formed firms and partnerships which they have developed between different actors and stakeholders of a city. Afterwards, the research analyzes the development and implementation of ongoing strategies from private companies, emphasizing on the necessity to form partnerships to achieve the prerequisite goals of the transition of conventional cities to smart. Thus, a targeted study was conducted to a group of eight multinational companies highly active in the Greek economy and have collaborated at least once with an entity from the Greek Municipalities. In conclusion, a series of systematic efforts are directed by private entities including active research and development in technologies which promote a sustainable economic environment and high quality of life. In the present study, companies are being actively involved in the development and implementation of innovative and cost-effective solutions aiming in developing, automating, and saving energy applications. Finally, it is pointed that a sustained and coordinated effort is required to implement the necessary actions to address the goal holistically. Additionally, it seems that the right planning and the developed strategy in a city ready to accept changes are the main tools for modernization.