Reflections on a SMART urban ecosystem in a small island state: the case of SMART Reykjavik

Magnus Yngvi Josefsson and Runolfur Smari Steinthorsson

International Journal of Entrepreneurship and Small Business, 2021, vol. 42, issue 1/2, 93-114

Abstract: This conceptual paper explores 'SMART' cities and 'SMART' specialisation. 'SMART' refers to digitally enabled, innovative, progressive, green and sustainable social/technical systems. The focus is on 'SMART' as an interactive innovative ecosystem further illustrated through the concept of triple and quadruple helix systems. The paper argues that a 'SMART' city strategy should aim to build on a uniqueness that can be enabled through tapping and connecting 'SMARTness' to the available assets and resources that enhance and complement the existing ecosystem. The 'SMART' city and 'SMART' specialisation approaches leverage existing human, social and relational capital. They foster redesign and extension of established value chains and further activate and mobilise knowledge and innovation clusters to create more opportunities and development towards a more sustainable urban future. The discussion in this paper is based on SMART Reykjavik, the capital of Iceland. As Iceland is a small island state and Reykjavik a small city, the 'SMARTness' is also addressed in relation to a small island state context.

Keywords: SMART city; SMART specialisation; small island city; strategy; socio/technical systems. (search for similar items in EconPapers)
Date: 2021
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