HEC-Ecole de gestion de l'Université de Liège
HEC-Ecole de gestion de l'Université de Liège

La place du financement alternatif dans les projets "Smart City" en Wallonie

Lecaillie, Quentin ULiège
Promotor(s) : Crutzen, Nathalie ULiège
Date of defense : 4-Sep-2017/11-Sep-2017 • Permalink :
Title : La place du financement alternatif dans les projets "Smart City" en Wallonie
Author : Lecaillie, Quentin ULiège
Date of defense  : 4-Sep-2017/11-Sep-2017
Advisor(s) : Crutzen, Nathalie ULiège
Committee's member(s) : Desdemoustier, Jonathan ULiège
Van Caillie, Didier ULiège
Language : French
Number of pages : 91
Keywords : [fr] Smart City
[fr] Financement alternatif
Discipline(s) : Business & economic sciences > Finance
Institution(s) : Université de Liège, Liège, Belgique
Degree: Master en sciences de gestion, à finalité spécialisée en Financial Analysis and Audit
Faculty: Master thesis of the HEC-Ecole de gestion de l'Université de Liège


[fr] Smart City has been a growing trend for the past few years. Cities and companies are trying to join forces in order to build the city of tomorrow by integrating technologies, citizen participation, smart transportation, smart energy or decrease of energy consumption into their innovative projects. Examples can be various and often arise from multiple stakeholders.
However, the economic aspect of the Smart City can’t be ignored. Before you can hope for a satisfying return on investment and see the infrastructure being built under your eyes, you have to consider the price of such an innovation and the way you manage to finance the whole process. It can sometimes even be the ways.
This thesis tackles the different ways of financing a Smart City project in Wallonia. Considering different aspects of the country, such as the contrast with Flanders, economic issues and the growing trend of Smart Cities, we will try to discover how different communities of Wallonia manage to finance their projects and how bright their future is.
The analysis will begin with a theoretical part that will be useful to introduce the concept of Smart City and how it became such a phenomenon on the European scene. Then the comparison with Belgium and especially Wallonia will be made. We will then define the main ways of financing a project or a company, making an important distinction between traditional ways (venture capitalists, subsidies, bank loans, etc.) and alternative ways (crowdfunding, public-private partnerships, etc.). The second part will deal with a qualitative analysis of nine communities of the Walloon territory. Focusing on how they manage to raise funds to launch Smart City projects, we will try to spot the links with the theoretical approach and build conclusions.



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  • Lecaillie, Quentin ULiège Université de Liège > Master sc. gest., à fin.


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