The Smart Cities Marketplace is a major market-changing undertaking supported by the European Commission bringing together cities, industries, SMEs, investors, researchers and other smart city actors. The community consists of a number of action clusters and initiatives with a variety of activities to help shape the market for smart cities in Europe. The community is governed by its charter.

The Smart Cities Marketplace consists of various Action Clusters which represent assemblies of partners committing to work on specific issues related to smart cities, by sharing the knowledge and expertise with their peers, giving added-value to their national and local experience and identifying gaps that need to be fulfilled at European level. The work of each Action Clusters is collected under thematic Initiatives.

procuRE project has been assigned to the Business Models and Finance (BM&F) Action Cluster which aspires to be a platform of choice for stakeholder-dialogue, and to identify and remove the obstacles for the accelerated development of the smart cities market. The objective of the BM&F Cluster is to accelerate the development of smart city markets through knowledge sharing, innovation and expertise on business models, finance and funding and procurement.