Joel Makower, Mark Mykleby, and Patrick Doherty in "The New Grand Strategy" aptly observed: "Public-private partnerships, once considered a wonky novelty, are now becoming a necessity, both for governments and for private companies." In some cases, PPPs are set up as platforms to generate a series of such projects. Increasingly, "PPP" refers to both formal and informal collaborations between public and private players to develop all manner of local and regional "infrastructure," including for energy procurement, communications, integrated mobility, economic development, greenspace maintenance, waste-reduction, citizen empowerment and more. PPPs are perhaps best known for facilitating formal collaborations to deliver hard infrastructure and development projects - think roads, bridges, bike trails and urban real estate developments. Public-private partnerships (PPPs) are a powerful organizing vehicle for taking on challenges and realizing opportunities - with the potential to transform cities, industries and societies toward smarter and more sustainable models. This article is the first in a series on the role of public-private partnerships in realizing smart, sustainable cities, systems and industries.
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