are only a limited number of local players with the knowledge and resources to invest in broadband infrastructure. Even those few potential players may have been deterred from investing by a fear of assisting their competitors. In November 2013, Google Fiber announced the deployment of a fibre backbone network in Kampala, enabling local mobile operators and ISPs to increase their data speeds up to 100 times faster than elsewhere in the city. The amount invested by Google Fiber has not been disclosed. However, as an indication, in 2006 the Ugandan government tried to implement a similar broadband infrastructure project at a cost of USD 100 million.Google Fiber emphasizes the importance of local governments in creating the right environment to attract new entrants. According to Google, \"[l]ocal government can actually play a large role in reducing the complexity of fibre networks just by giving new entrants access to maps of infrastructure, including maps of gas and water mains and things like expedited construction permits\".83 Making infrastructure available to new entrants is key to promoting network coverage expansion.1.5.3 New financiers Investment in broadband infrastructure may also come from more unlikely institutions such as hedge funds or corporate organizations that do not traditionally invest in broadband infrastructure. These organizations normally are driven by the opportunity to recoup their investment through public listing, when a company is sold, or through downstream revenues (that is, developing the broadband capacity allows other products and services to be sold).The investments that can deliver the high levels of return sought by hedge funds normally carry a reasonable level of risk, often due to the sheer scale of the project or the uncertainty around the deployment of a new technology. As a result, these investments tend to involve multiple investors to spread the investment risk. 24 Trends in Telecommunication Reform 2016 Box 1.8: Key lessons: Google Fiber (USA)• Having easy access to economic infrastructure and utility ducts was a key reason for Google to select Kansas City, as it reduced the need for street digs. This, in turn, reduced investment costs and the time taken to offer services to the market. Governments and regulators should consider how they can increase the attractiveness of the investment environment to make the business case for new entrant investment commercially viable. This can be achieved through undertaking consulting services to understand investors’ concerns. • Government capital investment needs may be reduced by creating the correct investment conditions for private-sector investment and by working closely with operators. The favourable investment environment in Kansas City, which attracted Google, also benefited the local government, as it was not required to make an investment that it would otherwise have been unable to source. According to the Mayor of Kansas City, they would not have been able pass a bond issue for the investment required.• The Federal Communications Commission (FCC) played no role in the network roll-out of Google Fiber in Kansas City. The main facilitator was the local government, which expedited the permit process, giving rights of way for little or no cost and allowing Google Fiber to build in desired areas.• Heavy regulation can create a barrier to new entrants. One of the lessons Google Fiber took from deploying in Kansas City was that investment often flows into areas that are less affected by regulation.