This report reflects on the state of nature-based financing and entrepreneurship in four UrbanByNature hubs to unlock the implementation of nature-based solutions (NbS) and relates to Connecting Nature’s task 5.5 “Understanding nature-based financing and entrepreneurship in UrbanByNature hubs to unlock implementation”. It is based on the experiences that were made whilst implementing the UrbanByNature (UbN) Programme in the four UbN Hubs Brazil, China, Korea and the Caucasus. This report outlines the gap between nature-based solutions products and services on offer by nature-based enterprises (NBEs) and the demand for nature-based solutions by local governments. It also identifies opportunities for overcoming them (e.g. integration of NbS in policy initiatives, funding for nature-based enterprises, resolving procurement barriers). Drawing from the previous Deliverable 15, and considering the Connecting Nature Framework, this deliverable focuses on financing and business models as well as entrepreneurship around NbS in these four regions.