E.U. invests $450 million in smart cities

Earlier this week the E.U. announced that next year about $450 million (365 million euros) will be allocated to help cities develop smart city technology. The funding was announced along with the E.U.’s Smart Cities and Communities European Innovation Partnership. The funds will help pool research resources in three smart cities sectors: energy, transportation, and information and communications technology. Each project that is financed through this initiative will focus on all three sectors.