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Rethinking Local Infrastructure Finance: UMD Smith Study Proposes New Model to Unlock Trillions in Institutional Capital

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COLLEGE PARK, Md., July 6, 2026 /PRNewswire/ — A new paper from the University of Maryland’s Robert H. Smith School of Business argues that America’s infrastructure shortfall—estimated at $3.7 trillion over the next decade—is not primarily a funding problem, but a structural design problem.

In “Rethinking Municipal Financing: A Hybrid Institutional Capital Model for Local Infrastructure Development,” Smith MBA (finance) candidate Anton Steshenko proposes a new funding framework that could channel pension fund and insurance sector capital into local infrastructure at scale.

“The challenge is not the absence of capital, but the absence of institutional architecture capable of deploying it at scale,” writes Steshenko. Despite roughly $60 trillion in U.S. pension fund assets, most local governments—especially small and mid-sized jurisdictions—cannot access this capital because their projects are too small, too fragmented, or too risky under current structures.

Hybrid Model to Bridge the Gap

Steshenko introduces the Hybrid Institutional Capital Model (HICM), a layered financing framework that blends public credit enhancement with private institutional investment.

The model integrates four components:

Project aggregation through local or regional intermediaries (such as green banks) to overcome the “deal-size gap” that keeps institutional investors out of small projects.Public first-loss capital—often 10–20% of project value—to de-risk senior tranches.Structured risk allocation across equity, mezzanine, and senior debt layers aligned with investor mandates.Institutional capital participation through standardized, investment-grade vehicles.

Steshenko notes that “public capital deployed as credit enhancement produces materially higher leverage than public capital deployed as direct lending,” citing evidence from blended-finance facilities and U.S. green banks.

Green Banks as the Missing Link

One of Steshenko’s key findings is that the United States lacks the intermediary institutions needed to translate local project pipelines into investable products. He points to the success of the Connecticut Green Bank, which has achieved a 6.7:1 leverage ratio on $463 million in public capital, and the Rockville, Maryland-based Montgomery County Green Bank (MCGB), the first county-level green bank in the nation.

Steshenko says these institutions demonstrate that relatively small amounts of public capital can unlock large volumes of private investment. “MCGB provides a partial loan guarantee—covering 20% of principal—to a participating commercial lender… The result: $2 million in private capital deployed for $200,000 in MCGB capital, a 10:1 leverage ratio.”

Such viability, he adds, is reinforced internationally, including by the UK Green Investment Bank, Germany’s KfW and Australia’s Clean Energy Finance Corporation.

Steshenko’s paper outlines a practical implementation roadmap for local governments, emphasizing:

Intermediary creation (municipal, regional or state-partnered green banks)Integration with federal programs such as the Transportation Infrastructure Finance and Innovation Act, the Water Infrastructure Finance and Innovation Act, and the $27 billion Greenhouse Gas Reduction FundPortfolio-level credit ratings to meet pension-fund requirementsLong-term governance independence to maintain investor confidence

Steshenko argues that his HICM can make $5-50 million projects—the vast majority of local infrastructure needs—investable for institutional capital for the first time.

Steshenko says his paper is especially timely, given that legislation such as the Inflation Reduction Act and Infrastructure Investment and Jobs Act has injected historic levels of funding but still covers less than half of the national need. Without new financial architecture, he adds, local governments will continue to face widening gaps in transportation, water systems, clean energy and climate resilience.

Nima Farshchi, Smith’s executive director of the Office of Experiential Learning and director of the Center for Social Value Creation, says Steshenko’s work “surfaces a critical insight: the barrier to modernizing America’s infrastructure isn’t a lack of capital, but a lack of design. The Hybrid Institutional Capital Model, he says, “shows how thoughtful financial architecture can translate community-level projects into investable opportunities for institutional partners. This is exactly the kind of evidence-based, socially meaningful innovation we aim to cultivate at Smith—research that gives local governments practical tools to unlock scale, resilience, and long-term value.”

The HICM offers a scalable, evidence-based model that does not require new federal legislation—only new institutional design, Steshenko adds. “The infrastructure financing gap is large. But it is not inevitable. The Hybrid Institutional Capital Model provides a design for that architecture.”

Read the paper, “Rethinking Municipal Financing: A Hybrid Institutional Capital Model for Local Infrastructure Development,” at SSRN.

About the University of Maryland’s Robert H. Smith School of Business

The Robert H. Smith School of Business is an internationally recognized leader in management education and research. One of 12 colleges and schools at the University of Maryland, College Park, the Smith School offers undergraduate, full-time and flex MBA, executive MBA, online MBA, business master’s, PhD and executive education programs, as well as outreach services to the corporate community. The school offers its degree, custom and certification programs in learning locations in North America and Asia.

Contact: Greg Muraski, gmuraski@umd.edu

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SOURCE University of Maryland’s Robert H. Smith School of Business

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51Talk Marks 15th Anniversary with Global Curriculum Upgrade to Enhance Children’s English Communication Skills

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July 8, 2026

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SINGAPORE, July 7, 2026 /PRNewswire/ — 51Talk, a global live 1-on-1 online English learning platform for children, today announced a comprehensive global curriculum upgrade to celebrate its 15th anniversary. More than a product upgrade, this initiative reflects 51Talk’s enduring commitment to global education: empowering children to communicate confidently across cultures, connect with the world, and make their voices heard.

Founded in 2011, 51Talk now serves families across more than 50 countries and regions, with a strong presence across Southeast Asia, the Middle East, and East Asia. Through live 1-on-1 English lessons and structured learning pathways, the platform has consistently helped children develop speaking confidence through regular practice and immersive interaction.

An Integrated Curriculum Upgrade

Starting this July, 51Talk will roll out its new online English learning curriculum, Global Communicator. Built on academic excellence and real-world relevance, the upgraded curriculum delivers internationalized content, personalized learning pathways, and a highly interactive learning experience designed to develop confident global communicators.

The curriculum incorporates Oxford University Press-authorized course materials, adapted for young learners and aligned with internationally recognized English proficiency standards. An AI-powered adaptive learning system analyzes student performance and adjusts lesson difficulty in real time, enabling truly personalized learning. Powered by an advanced interactive engine, the curriculum simulates authentic real-life scenarios, helping students develop the confidence and skills to communicate naturally and effectively in English.

“Our goal has always been to help children apply their English communication skills confidently in everyday situations,” said Lucy Qu, Vice President of Academics at 51Talk. “This upgrade further enhances how we deliver interactive, responsive, and communication-focused learning.”

Real Voices: From Classroom to Global Stage

Since 2023, 51Talk has supported youth public speaking initiatives at international events such as the United Nations Climate Change Conference (COP), empowering students to voice their perspectives on real-world issues.

Le Bao Nhi from Vietnam, who was once hesitant to speak, found her voice through 51Talk lessons and ultimately spoke at COP30. “I used to be shy and afraid of making mistakes,” she shared. “Now, I’m proud to connect with people worldwide in English. We must believe that small hands can make a big difference.” Sheddi Alharthi from Saudi Arabia also experienced a remarkable transformation after speaking at COP30, noting, “Speaking English with confidence has opened up a much bigger world for me.”

One of 51Talk’s 5-Star teachers noted that confidence grows through consistent practice in a supportive learning environment, empowering students to express themselves freely in English. “Our mission goes beyond teaching English,” the teacher shared. “Through continuous guidance and companionship, we hope every child can speak English confidently in real-life situations.”

Looking Ahead to the Next Chapter

Standing at this 15-year milestone, 51Talk remains dedicated to enhancing its live 1-on-1 online English learning experience. Supported by passionate teachers and an AI-powered learning system, the platform will continue to help more children develop communication skills and the confidence to connect with the world. 51Talk looks forward to seeing more young learners find their voices and shine on the global stage.

To learn more, please visit: www.51talk.com

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SOURCE 51Talk

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IAA MOBILITY 2027 Registration Now Open – Record-Breaking Demand – More Than Half of Floor Space Already Accounted For

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July 8, 2026

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BERLIN and MUNICH, July 8, 2026 /PRNewswire/ — Registration for IAA MOBILITY 2027 is officially open. Interest from the international mobility sector hits record-breaking demand even before the regular registration period started. More than 100 companies have pre-registered as rebookers. As a result, over a year ahead of the event (scheduled for September 7–12, 2027), 53 percent of the total space used at IAA 2025 (both downtown and at the exhibition center) has already been reserved.

“The high volume of already registered rebookers shows that our hybrid concept is hitting the mark,” says VDA Managing Director Jürgen Mindel. “This lays the groundwork for IAA MOBILITY to further expand its role as the world’s leading platform for mobility, sustainability, and tech.”

High-Profile Exhibitors Across All Sectors

Pre-registered companies include AUDI, AUMOVIO, BMW, CATL, Changan Automobile, CUPRA, Ford, GAC, Google, Horizon Robotics, Horse Powertrain, Hyundai Motors, Mahle, Mercedes-Benz, Polestar, Porsche, Riese & Müller, SAP, Schaeffler Technologies, smart, Sonatus, VW, XPENG, and ZF.

Mathias Geisen, Member of the Board of Management of Mercedes-Benz AG, emphasizes: “As the inventors of the automobile, we have been shaping mobility for 140 years – so participating in IAA MOBILITY is a core part of our DNA.”

“Our greatest success at IAA MOBILITY was proving that premium e-bikes and cargo bikes belong on equal footing at a mobility show – an event traditionally dominated by the automotive industry,” says Dr. Sandra Wolf, CEO of bicycle manufacturer Riese & Müller.

“IAA MOBILITY 2025 was a fantastic experience for Schaeffler. Direct dialogue with our customers provided vital insights and solidified the strong partnerships we’ve built,” says Matthias Zink, CEO Powertrain & Chassis at the Schaeffler Group.

High Exhibitor Satisfaction in 2025

The popularity of IAA MOBILITY is also reflected in an increased recommendation rate among exhibitors. Eighty-three percent of surveyed exhibitors stated they would “definitely” or “likely” recommend participating in IAA MOBILITY to other exhibitors (up from 72 percent in 2023).

“As organizers, we see this highly positive trend as a complete validation of our conceptual strategy. In terms of overall satisfaction, IAA MOBILITY 2025 received a 96 percent positive rating from exhibitors. This means our exhibitors rated their participation in Munich as ‘excellent,’ ‘very good,’ or ‘good,'” says VDA Managing Director Jürgen Mindel.

Strong Performance in 2025 – and Long-Term Stability Until 2031

At IAA MOBILITY 2025, 750 exhibitors from 37 countries showcased their products and innovations, featuring over 350 world premieres and product launches. International exhibitors accounted for 57 percent of the total, with the largest contingents coming from China, South Korea, Austria, Italy, and the US. This strong international presence was also mirrored by the attendees, with international visitors accounting for roughly 24 percent of the total crowd.

Furthermore, IAA MOBILITY is set to remain in Munich until at least 2031. The German Association of the Automotive Industry (VDA) and Messe München have extended their successful partnership until 2031.

 

SOURCE German Association of the Automotive Industry / IAA MOBILITY

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Movemedical Launches Ask Move AI, the First AI Assistant Purpose-Built for Med Device Field Operations

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July 8, 2026

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Mobile-first AI assistant built on 15+ years of surgical case data gives field reps a conversational interface for every step of their case workflow.

SAN DIEGO, July 7, 2026 /PRNewswire/ — Movemedical, the leading field inventory management platform for the medical device industry, today announced the availability of AI-enabled workflow capabilities as part of their June 2026 platform release. The launch marks a significant expansion of the platform’s intelligence layer — adding a purpose-built AI assistant for reps and warehouse personnel managing the surgical supply chain delivered on a foundation of compliance infrastructure that meets the requirements of FDA-regulated enterprise operations.

Ask Move AI launches with four capabilities available immediately on mobile: smart case creation by voice or text, case inventory lookup, case rescheduling, and invoice lookup. Together these capabilities give field reps a conversational interface for the full arc of their case workflow — from creation to inventory confirmation, scheduling, and billing — without navigating screens or losing time to manual processes. Subsequent releases will continue to extend the range of Ask Move AI’s capabilities.

The intelligence layer is built on top of Movemedical’s deterministic core, which encompasses the validated, auditable, SOC 2, HIPAA, and HITRUST-certified platform that has run enterprise field operations for more than 15 years. That foundation does not change. The AI agent layer sits above it, drawing on the richest surgical case data in the category to execute case workflows and respond to rep queries conversationally, while every interaction is logged, audited, and authenticated by the platform. Customer data is not used to train the underlying models.
“The field inventory management category is at an inflection point,” said Mark Herrington, CEO of Movemedical. “Companies across MedTech are debating whether to build AI internally, buy a platform, or wait for the market to settle. We have spent nearly two decades building the data foundation, the compliance infrastructure, and the domain expertise that any meaningful AI capability in this space requires. What we’re launching today is the first expression of that investment — and it’s only the beginning.”

Movemedical’s AI capabilities are the first deliverables on their agentic roadmap that extends across the full field inventory lifecycle. Movemedical is planning a regular agentic AI release cadence that will optimize every major workflow in medical device inventory management. Near-term additions to the AI assistant include On-Demand Data Insights for plain-language operational queries, Streamlined Usage Capture for automated post-case reconciliation, and expanded case management capabilities. Looking further ahead, consignment optimization, demand forecasting, and inventory rebalancing are among the agentic capabilities on the roadmap.

“We built toward the highest-impact friction points first,” said Vito Salvaggio, Chief Product Officer at Movemedical. “Every rep who creates a case, confirms what is on it, checks a billing detail, or needs to move a date without losing their place in the day – these are the users we designed for. The AI assistant we are releasing today addresses where we know field reps will see immediate benefit, and the roadmap behind it is built to compound that advantage with every release.”

“Movemedical.com/ai”
The 2026.5 release is available to all Movemedical customers as part of the platform’s standard release cadence. AI features are opt-in and gated, allowing customer organizations to enable access on their own timeline. For more information, visit movemedical.com/ai.

About Movemedical

Movemedical is the leading field inventory management and automation platform for the medical device industry, trusted by global manufacturers and hospital systems to manage the last-mile surgical supply chain from the warehouse to the operating room. The platform brings together case management, inventory tracking, consignment operations, and compliance infrastructure in a single system built exclusively for the last-mile complexity of MedTech field operations.

For more information, visit movemedical.com.

Media Contact
Movemedical Communications
Marketing@movemedical.com

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SOURCE Movemedical

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