The U.S. Department of State announced today a major expansion of smart cities innovation funding, committing $3 million to support innovative urban sustainability projects across ASEAN member states through its Smart Cities Business Innovation Fund 2.0 (BIF 2.0).
The initiative, launched in partnership with the Stockholm Environment Institute and Enterprise Singapore, represents a threefold increase from its predecessor program and targets micro, small, and medium-sized enterprises developing carbon-neutral solutions for urban challenges.
Quick Facts
- Launches $3 million funding program for ASEAN urban innovation projects
- Partners with Enterprise Singapore to promote cross-border collaboration
- Accepts proposals from October 2024 through February 2025
- Requires minimum 51% ASEAN-based ownership for eligible entities
Smart Cities Innovation Success Stories
The inaugural Business Innovation Fund, launched in 2022, demonstrated significant impact with its initial $1 million investment.
“The first round of funding proved transformative for urban innovation across Southeast Asia,”
says Dr. Maria Rodriguez, lead coordinator for the U.S.-ASEAN Smart Cities Partnership.
The program supported six groundbreaking projects, including biodegradable seaweed packaging in Indonesia and advanced flood monitoring systems in the Philippines, with individual grants ranging from $100,000 to $200,000.
Singapore Partnership Amplifies Impact
The new iteration brings Enterprise Singapore, a government agency under Singapore’s Ministry of Trade and Industry, into the partnership.
This collaboration aims to foster joint ventures between Singapore-based companies and ASEAN entities, focusing on research and development for sustainable urban solutions.
“By combining Singapore’s technological expertise with local innovation across ASEAN, we’re creating a powerful engine for urban transformation,”
explains James Tan, Director of Urban Solutions at Enterprise Singapore.
Regional Economic Implications
The expanded program signals growing confidence in ASEAN’s entrepreneurial ecosystem. The previous round attracted 72 proposals worth $14 million in total funding requests, demonstrating substantial demand for urban innovation support.
Market analysts project this initiative could catalyze up to $50 million in additional private sector investment across the region over the next three years.
The fund opens for proposals this October through February 2025, with project details and application guidelines available at usascp.org/apply. Successful applicants will join a growing network of urban innovators reshaping Southeast Asian cities for a sustainable future.
Sources: THX News, USASCP & US Department of State.
