WORLD BIZ THE BUSINESS OF LEADERSHIP
AUTUMN // SEPTEMBER 2019
GLOBAL INVESTMENT ISSUE + The 2019 WORLD FDI AWARDS
World Business Magazine September 2019 Editorial Mike WaltersÂ Editor in Chief Giles AndersonÂ Deputy Editor Contributors Troy Richards Mark Davidson Anne Chu Victoria Abbott Mahmoud Ayub Matt Lee David Sanchez Donald Adu Mark Berkshire Marketing / Web John West Advertising Alice Carreras David James Interns Zayne Walters Micah Sayed Director Yeliz Cilar www.worldbizmag.com email@example.com
Published quarterly by prbd global www.prbdglobal.com All Rights Reserved.
THE BUSINESS OF LEADERSHIP
Invest Newswire - 006 Fisk Johnson, SC Johnson CEO - 010
Punit Renjen, Deloitte Global CEO - 014 Henley & Partners - Brexit - 020 IBM - Data breach costs on the rise - 026
Punit Renjen Global CEO Deloitte
Eviation - electric powered planes - 030
Deloitte marks its 10th
Invesco - Sovereign investors - 022
Four Seasons - innovation and EI - 032 Fairmont Hotels - Bee program - 036
consecutive year of growth with revenues of $46 Billion.
Business in California - 040 Bain & Co - European Banking - 042 NJF Capital - European unicorns - 044 Nanox - $1 billion funding - 046 Saudi Arabia's 5 focus sectors - 050 Siemens and Saudi Arabia - 052 Denso celebrates 25 years of QR - 056
Mexichem transforms to Orbia - 058
CEO of SC Johnson talks about
XAG protects farms with drones - 062
Microplastics and Ocean Health
5 tech companies to watch in 2020 - 064
with one of the world's leading
The battle for digital Ad spending - 068
marine pollution experts.
Deoleo unveils sustainability plan - 070 Leukemia and Lymphoma Society - 072 The Kaluga region of Russia - 076 Carrier and Habitat for Humanity - 082 Hublot protects Rhinos in Africa - 084 Medicon valley - Southern Sweden - 086 The European Forestry Institute - 090 Selangor state, Malaysia - 094 Tate and Lyle + Land O'Lakes - 098 Parana State, Brazil - 100 Kimberly Clark + UNICEF- 104 Bogota - city of innovation - 106
War on Cancer The Leukemia and Lymphoma Society announces $50 Million of investment in research grants to accelerate solutions.
Women boards more resilient - 110 Invest in Idaho - 112 Honda invests in North Carolina - 114 Howard County + Korea -116 IBM quantum for Germany - 118 Frankfurt Rhein Main - 120 Samsara secures $300 million - 122 Helsinki targets carbon neutral - 124
Hublot for Rhinos
Lockheed Martin $3 million grant - 126
The watch Manufacture has
Qatar means business - 128
partnered with SORAI to save
US and Israel renewable partners - 130
the endangered Rhinoceros
Vietnam sandals brand enters US - 132 19 year old securses $7 million - 134
of Africa and India.
Thailand new incentive packages - 136 Biz leaders target North East Asia - 138 Collaborative data in agriculture - 140 Gauteng Region, South Africa - 142 Sugarfina expands to Mexico - 146
Britain's Passport Power and Brexit
Bunge and BP launch Brazil JV - 148
Henley and Partners reports
Cybershoes - A new leap in VR- 144
Gantri consumer products 3D print - 150
that the power of the British
Hilco Global - CSR activity - 152
passport has been damaged
Medela Celebrates breastfeeding - 154
Alladin Cards introduces Spot UV - 156 FINO Tequila - woman owned - 158 Gym Launch + Arnold Schwrzeneger- 160 KONKA opens new Egypt factory - 162 Honeywell + Braskem Idesa - 164 Bhutan Wine Company - 165
Unilever is Green
Enova AI business opportunities - 166
The global giant announces that
US Supermarket Wines catching up - 167
is now operating with 100% fully
Bahrain EDB appoints new CEO - 168
renewable electricity at all its
Evernote selects Chile - 169
operations across 5 continents.
Baha Mar gives $2m to Bahamas - 170 Western Anhui leads on low carbon - 171 Rwanda - Africa's great success - 172 Sika opens 22nd factory in Africa - 173 Menarini appoints new global CEO - 174 Metsa Wood - Prefab in Norway - 175 COLA Wealth invests in Columbia- 176 Dominica Citizenship by Investment - 177 Huobi moves full speed in Turkey - 178 Pepsico - plastic waste reduction - 179 Mid Continent gives 1 million nails - 180 Unilver goes 100% Renewable - 181
Bahrain EDB The national investment promotion and economic development agency of Bahrain welcomes new CEO.
Subaru sells 10 millionth car in US - 182 World FDI Awards Winners - 184
Europe's Unicorns Europe'sÂ tech ecosystem is becoming a worthy rival to the US thanks to a recent boom in tech entrepreneurs. NJF Capital can guide you.
WORLD BIZ MAGAZINE
2019 CEO OF THE YEAR AWARDS NOMINATE AT: WWW.WORLDBIZMAGAZINE.COM
TRIGO RAISES $22M A ROUND TO ENABLE MORE GROCERY RETAILERS TO BATTLE AMAZON GO. Trigo, a computer-vision company providing checkout-free systems to grocery retailers, has announced that it raised $22 million in an A Round. The round was led by growth fund Red Dot Capital with the participation of existing investors Vertex Ventures Israel and Hetz Ventures. The funds will enable the company to scale the technology for even larger store sizes (currently at 2X the footprint of Amazon Go), and advance its partnerships with leading US and European grocery retailers. www.trigovision.com
INVEST NEWSWIRE ROUND UP OF VC FUNDING IN Q3 2019
BEEKEEPER RAISES $45M SERIES B FUNDING ROUND TO CONNECT 1.7B UNCONNECTED WORKERS. Beekeeper, creator of the first operational communications platform for non-desk workforces, announced the closing of a $45 million Series B financing. The round was co-led by Thayer Ventures and Swisscanto Invest by Zürcher Kantonalbank, with participation from prior investors including Atomico, Alpana Ventures, Edenred Capital Partners, Fyrfly, Hammer Team, investiere, HighSage Ventures, Keen Venture Partners, Samsung NEXT, Swiss Post, and Swisscom. www.beekeeper.io SAMSARA RAISES $300 MILLION IN NEW GROWTH CAPITAL TO VALUE COMPANY AT $6.3 BILLION. Samsara, the leader in Industrial IoT, has announced $300 million in new funding to accelerate the company's growth. The funding comes from new investors Tiger Global and Dragoneer, along with existing investors Andreessen Horowitz and General Catalyst. The round values Samsara at $6.3 billion, and brings the total funding raised to $530 million. www.samsara.com KASISTO ANNOUNCES $15M ROUND LED BY RHO CAPITAL PARTNERS. Kasisto, creators of KAI, the leading digital experience platform for the financial services industry, announced a $15 million Series B extension funding round led by new investor Rho Capital Partners, and current investors, Oak HC/FT, Propel Venture Partners, Two Sigma Ventures, Commerce Ventures, and the Partnership Fund for NYC. www.kasisto.com PAGE 006
Invest Newswire ICELANDIC GLACIAL™ ANNOUNCES $66 MILLION OF NEW FINANCING. Icelandic Glacial™, the naturally alkaline, superpremium spring water from Iceland, has announced that it has received $35 million in funding from funds managed by BlackRock's US Private Credit team and has issued $31 million in new equity to new and existing investors in order to provide a platform for its continued growth in the USA and other markets. www.icelandicglacial.com BOSCH AND HANWHA HAVE INVESTED OVER $230 MILLION IN NIKOLA. As part of its ongoing fundraising effort, Nikola Corporation has announced two strategic investors from its prior funding rounds. Bosch and Hanwha have each invested at least $100 million, totaling $230 million. Earlier, Nikola announced the lead investor, CNH Industrial, as part of its $1 billion Series D fundraising plan. The European company invested $250 million in the innovative Phoenix hydrogenelectric truck maker. Bosch has been an instrumental partner for Nikola in the development of its state-ofthe-art heavy-duty vehicle fuel cell system and battery technology. Hanwha is a world leader in renewable energy and solar panel manufacturing and is partnering with Nikola to assist in obtaining clean energy for its hydrogen fueling network. Hanwha is Nikola's exclusive solar panel provider (QCELL), generating the clean electricity that is critical to the production of renewable hydrogen. www.nikolamotor.com BATON SYSTEMS SECURES $12 MILLION SERIES A LED BY TRINITY VENTURES. Baton System a provider of high-speed, blockchaininspired, bank-to-bank payments infrastructure, has raised more than $12 million to dramatically increase processing times and efficiencies within the $2 trillion global payments market. The Series A investment round is led by Trinity Ventures, with participation from Alsop Louie and Commerce Ventures. www.batonsystems.com PAGE 007
MONEYLION ANNOUNCES $160M IN FUNDING TO RAPIDLY
TIER IV RAISES OVER $100 MILLION IN SERIES A ROUND.
Tier IV, Inc., the open-source self-driving startup based in
MoneyLion, the mobile bank that created America's most
Japan, announced that it has raised over $100 million in total
powerful financial membership designed to help hardworking
in a Series A funding round to facilitate commercialization of
Americans save, invest and grow, announced $160 million in
self-driving technology in (i) private areas, (ii) depopulated
funding -- $60 million in previously unannounced financing
areas, and (iii) urban areas.This funding round, led by Sompo
and a $100 million Series C funding round.The round was co-
Japan Nipponkoa Insurance Inc., the Japanese major P&C
led by Edison Partners and Greenspring Associates and
insurance company, with participation from existing
included strategic investment from Capital One, a diversified
investors, Yamaha Motor Co., Ltd. (YMC), KDDI CORPORATION,
bank that offers a broad array of financial products and
JAFCO Co., Ltd., and AISAN TECHNOLOGY Co.,Ltd., enables
services to over 45 million consumers. The round also
Tier IV to become a global platform company and scale out its
included investment from MetaBank and FinTech Collective.
SCHEDULICITY SECURES $22M FUNDING ROUND TO DRIVE
FUNGIBLE CLOSES $200 MILLION SERIES C FINANCING LED
GROWTH AND LAUNCHES PAYMENT PROCESSING TECH.
BY SOFTBANK VISION FUND.
Schedulicity, the leading online platform for consumers to
Fungible, a pioneer in data-centric computing, announced it
schedule appointments, classes and workshops in more than
closed $200 million in Series C financing. The round was led by
50 industries—announced a $22 million funding round, raised
the SoftBank Vision Fund and included participation from
with private investors. This capital will support the launch of a
Norwest Venture Partners and existing investors.To date,
disruptive payment processing platform, an upcoming
Fungible has raised over $300 million in capital from venture
consumer-facing brand campaign, as well as growth at the
capitalists and strategic investors including Battery
company's Bozeman, Montana headquarters.
Ventures, Mayfield Fund, Redline Capital and Walden
Riverwood Ventures. www.fungible.com
HEAP RAISES $55 MILLION IN SERIES C FUNDING. Heap Inc. announced it has raised $55 million in Series C
SECURITYSCORECARD CLOSES $50 MILLION IN SERIES D
financing led by NewView Capital, increasing its total funding
to $95.2 million.This round also includes new investors DTCP,
SecurityScorecard, the leader in security ratings, announced
Maverick Ventures, Triangle Peak Partners, Alliance Bernstein
the company has completed a $50 million Series D financing
Private Credit Investors, and Sharespost, as well as existing
round led by Riverwood Capital, bringing the company's total
investors NEA, Menlo Ventures, Initialized Capital, & Pear VC.
funding to $110 million.
www.securityscorecard.com PAGE 008
NANOX SECURES $1 BILLION INVESTMENT TO MAKE EARLY-
AQUABYTE RAISES $10 MILLION SERIES A TO CONTINUE
DETECTION MEDICAL IMAGING ACCESSIBLE TO ALL.
LEADING THE TRANSFORMATION OF THE FISH FARMING.
nanox.vision has seized leadership in preventive healthcare by
Aquabyte, the aquaculture startup employing computer vision
putting early detection at its core, beginning with SK Telecom,
and machine learning software to dramatically improve fish
which is making a strategic capital investment in nanox to
farming efficiency, announced it has raised $10 Million in
commercialize its revolutionary technology.
Series A funding, co-led by existing investors Costanoa
Ventures and New Enterprise Associates, Inc., (NEA), with participation from Alaya Capital Partners, Alliance Venture,
CRITICALSTART RAISES $40 MILLION IN INVESTMENT TO
Struck Capital, and other angel investors. Aquabyte also adds
FUEL GROWTH OF ITS ZERO-TRUST PLATFORM.
Chandran Sankaran, founder and CEO of Zyme and
CRITICALSTART, a leading provider of Managed Detection and
Closedloop, as an independent board member.
Response services, announced a sizeable minority investment
from Sagemount, a growth equity firm.CRITICALSTART plans to use its first-ever outside investment to significantly expand
GETAWAY RAISES $22.5M IN SERIES B FUNDING LED BY
its market presence for the company's Managed Detection
STARWOOD CAPITAL GROUP.
and Response (MDR) services as it expands nationally –
Getaway, a wellness hospitality company that provides
including new field offices in Los Angeles and New York City –
mindful escapes to tiny cabins in nature within two hours of
to serve enterprise customers and its network of channel
major cities, has closed a $22.5M Series B financing round.
The round was led by a controlled affiliate of Starwood Capital
Group, with continued support from L Catterton and other existing shareholders.
WHEELS UP RAISES $128 MILLION TO ACCELERATE
GROWTH AND DIGITAL. Wheels Up has announced that it has completed its Class D
SITETRACKER EXTENDS SERIES B TO INCLUDE ENERGIZE
equity capital raise of $128 million. New to the Company's
VENTURES CLOSING $34M.
roster of institutional investors are funds managed by Franklin
Sitetracker, the project, asset, and work management
Templeton, which co-led the round with funds and accounts
platform for critical infrastructure companies, announced an
advised by T. Rowe Price and Fidelity Management &
investment from Energize Ventures, extending the company's
Research, along with other institutional and private investors.
Series B financing to $34 million. Sitetracker previously closed
The Company's post-money enterprise valuation is north
their Series B round in August 2018, led by New Enterprise
of $1.1B. The raise comes on the heels of the Company's
Associates (NEA) with participation from Wells Fargo Strategic
recent acquisition of Travel Management Company.
Capital, National Grid Partners, and Salesforce Ventures.
www.sitetracker.com PAGE 009
FISK JOHNSON, SC JOHNSON CEO TALKS MICROPLASTICS AND OCEAN HEALTH From Grocery Bags to Clothing – the Problem is Bigger
and identifiable as plastic, such as plastic bottles and grocery
Than You Think.
bags. It is estimated there are 5.25 trillion pieces of this
Sometimes it's the smallest things that lead to the biggest
debris, weighing 269,000 tons, spread across the oceans.
environmental problems. That's why SC Johnson Chairman and CEO Fisk Johnson sat down with Dr. Peter S. Ross, an
"Plastic waste is the single biggest environmental issue we
ecotoxicologist and Vice President of Research at the global
have to address as a company, but we can't do it alone,"
conservation organization Ocean Wise Conservation
Johnson said. "Business, government and civil society need
Association (Ocean Wise). Johnson, who holds a Ph.D. in
to come together to solve the problem."
physics, and Ross, a leading marine pollution expert, discussed the pervasiveness of microplastics and its impact
Less attention has been put on the equally pervasive issue of
on the health of our ocean ecosystems.
microplastics – small pieces of plastic between one nanometer and five millimeters in length. These pieces can come
The Ocean Plastic Crisis – Marine Debris and Microplastics
in a variety of forms including fibers, fragments, spheres,
The ocean plastic pollution problem has been in the
sheets and polystyrene. Microplastics, which are often
spotlight in recent years, and most of the attention has
invisible, are a large contributor to the pollution that disrupts
focused on larger plastic marine debris that is easily visible
natural ecosystems and pose a global risk. PAGE 010
"Plastic is everywhere. We find microplastics in every single
and thus its contribution to the problem. In addition to
sample of seawater we collect," said Dr. Ross.
pledging 100% recyclable, reusable or compostable products
"Much of the plastic waste making it through wastewater
by 2025, SC Johnson announced last fall a strategic
treatment systems is plastic fibers that come from clothing.
partnership with Plastic Bank, one of the leading
This suggests that home laundry and domestic wastewater
organizations working to reduce the global crisis of ocean
streams are an important conduit to delivering microplastics
plastic, to open nine plastic collection centers in
to the oceans."
impoverished communities across Indonesia, with plans for expansion.
According to Ocean Wise, wastewater treatment systems can remove approximately 95-97% of solid waste, but the
Earlier this year, SC Johnson unveiled a new 100% recycled
remaining 3-5% remain in treated water and slip into the
ocean plastic bottle for its Windex® Vinegar variant – a first for
a major home cleaning product. Available in the United States at retailers like Target and Walmart, the bottles are made from
Microplastics and Their Effect on the Food Chain
plastic waste collected within 30 miles of an ocean or
Microplastics are a growing concern among scientists who are
waterway in countries without formal waste-based collection
just beginning to comprehend their abundance in our oceans
infrastructures. These bottles help SC Johnson and
and throughout all levels of marine food webs. In fact, an
consumers alike strengthen global recycling programs and
Ocean Wise study found the particles in at least two key
reduce potentially harmful debris from entering the ocean.
species of zooplankton in the Northeast Pacific Oceaniv, and
But tackling plastic pollution cannot be solved by a single
the latest research found widespread microplastics
contamination in Monterey Bay. These species are at the base of the food chain, indicating possible contamination among
That's why Johnson signed the New Plastics Economy Global
Commitment at last year's Our Ocean Conference in Bali, Indonesia, alongside Dame Ellen MacArthur and a worldwide
"Microplastics are a threat in the plastic pollution crisis, and
coalition of businesses and governments. The initiative
Dr. Ross' research shows just how widespread the problem
represents a shared value among world leaders to build and
has become,"Johnson continued.
foster a circular economy for plastics, creating a market for them at every stage of their lifecycle.
Through Ocean Wise, Dr. Ross oversees 10 research programs, including the Ocean Pollution Research Program, which
To put these values into action, SC Johnson and the Ellen
examines the presence of microplastics and microfibers in
MacArthur Foundation announced a global partnership in
January which now comprises 17 additional organizations – including Intesa Sanpaolo, Danone, Google, H&M, Phillips,
Stemming the Tide on Plastic Pollution
Renault, Solvay, Unilever and others – to execute market-
SC Johnson has already taken steps to curb its plastic use,
leading circular economy initiatives at scale. PAGE 011
THE HIKE MAGAZINE
SC Johnson CEO
About SC Johnson SC Johnson is a family company dedicated to innovative, high-quality products, excellence in the workplace and a long-term commitment to the environment and the communities in which it operates. Based in the USA, the company is one of the world's leading manufacturers of household cleaning products and products for home storage, air care, pest control and shoe care, as well as professional products. It markets such well-known brands as GLADE®, KIWI®, OFF!®, PLEDGE®, RAID®, SCRUBBING BUBBLES®, SHOUT®, WINDEX® and ZIPLOC® in the U.S. and beyond, with brands marketed outside the U.S. including AUTAN®, BAYGON®, BRISE®, KABIKILLER®, KLEAR®, MR MUSCLE® and RIDSECT®. The 133-year-old company, which generates $10 billion in sales, employs approximately 13,000 people globally and sells products in virtually every country around the world. www.scjohnson.com Fisk Johnson, Chairman and CEO of SC Johnson H. Fisk Johnson is Chairman and CEO, and Chairman of the Board of S. C. Johnson & Son, Inc. Fisk joined SC Johnson in 1987 and he has served in a variety of senior level management and marketing positions, both domestically and internationally. Fisk Johnson is the fifth generation Johnson family leader of the 133-year-old company. He serves on The Consumer Goods Forum Board of Directors. Fisk served as a member of the President’s Advisory Committee for Trade Policy and Negotiation (ACTPN) from 2002-2010, and was appointed to ACTPN again in 2011. Fisk served on the Cornell University Board of Trustees from 1993 to 2001 and now is a Trustee Emeritus. From 2002 to 2011, he served on the Board of Directors of Conservation International. Previously, he served as Director of Energizer Holdings, Inc. and Johnson Outdoors Inc. He also was a member of the World Business Council for Sustainable Development from 2004 to 2008. He was named Florida Southern College's 77th Honorary Chancellor and received an Honorary Doctorate. Fisk also received an Honorary Doctor of Laws degree from Wilfrid Laurier University in June of 2011.In 2016, Fisk was the recipient of CECP’s Founders Force for Good award recognizing his commitment to transparency and sustainable business strategies. Under Fisk’s leadership, SC Johnson was awarded the World Environment Center’s Gold Medal for International Corporate Achievement in Sustainable Development in 2015. He was honored to be the 2009 Robert S. Hatfield Fellow in Economic Education, delivering Cornell University’s annual Hatfield Lecture. In 2013, he was honored by the Samuel Curtis Johnson Graduate School of Management at Cornell University with the Dean L. Joseph Thomas Leadership Award, the highest honor bestowed on its most accomplished alumni leaders. Fisk holds a B.A. in Chemistry and Physics; an M. Eng. (Masters of Engineering); M.S. in Physics; MBA; and Ph.D. in Physics, all from Cornell University. PAGE 012
PRBD GLOBAL EDUCATING GLOBAL BUSINESS LEADERS WORLDBIZMAG.com INNOVATIONCEOS.com CSRLEADER.com WORLDFDI.com CEOYEAR.com INVESTNEWSWIRE.com WORLDBANKAWARDS.com DESTIG.com
PUBLIC RELATIONS BUSINESS DEVELOPMENT
DELOITTE MARKS ITS 10TH CONSECUTIVE YEAR OF GROWTH WITH RECORD REVENUES OF $46 BILLION DELOITTE GLOBAL CEO - PUNIT RENJEN
-- All Deloitte businesses, regions, and industries
and minorities at all levels within Deloitte.
experienced continued growth in fiscal year 2019. -- The number of Deloitte professionals grew 9 percent to
"While we are proud of our progress, we know we have more
more than 312,000.
work to do to enable the next generation of leaders to reach
-- Deloitte continues to advance its commitment to making
their full potential. We are making conscious efforts to take
a positive societal impact by preparing its people, clients,
steps to increase the number of women and
and communities to meet the evolving demands of the
underrepresented minorities in our leadership ranks
Fourth Industrial Revolution.
throughout the organization, while recognizing that diversity and inclusion efforts are most successful when supported by
Deloitte has reported aggregate member firm revenue of
the right environment, culture, and policies," says Michele
US$46.2 billion for the fiscal year ending 31 May 2019
Parmelee, Deloitte Global Chief People and Purpose Officer.
(FY2019). This is a 9.4 percent revenue increase in local
"Our strategy includes using data analytics to inform actions,
currency and a US$3 billion increase over last year.
modifying talent processes, setting global standards, and providing our people with more development, sponsorship,
"At the core of Deloitte's culture and business model is the
and leadership opportunities."
fundamental belief that we exist to make a positive impact for clients, our people, and the communities in which we live and
In FY2019, Deloitte increased its workforce to approximately
work. Our performance in FY2019 is evidence that a purpose-
312,000 professionals, a 9 percent increase. Growth occurred
led approach works," says Punit Renjen, Deloitte Global CEO.
across all regions, with more than 90,000 professionals hired.
"Disruption and transformation are shaping business and society today, imposing new and urgent responsibilities on
As Deloitte's workforce continues to grow and as
business leaders. Deloitte is meeting the challenges by
transformative technologies—such as digital, cloud, analytics,
building an equitable and sustainable business for the long
and artificial intelligence (AI)—become increasingly pervasive,
term and holding itself accountable for the triple-bottom line
Deloitte is focused on equipping its people with new
of people, profit, and planet."
capabilities that will enable them to be more tech savvy and future-ready. This, in turn, will allow Deloitte to help clients
People – Diversity and inclusion power the workforce of
capitalize on these revolutionary innovations.
the future. Deloitte believes that its workforce must reflect the world
Deloitte combines common curricula, technology, and
around it if it is to succeed in solving its clients' toughest
innovative learning facilities, such as Deloitte University (DU),
challenges. This year, Deloitte launched an initiative to
to provide its people with consistent leadership, industry, and
globally coordinate its diversity and inclusion efforts. This is
technical capabilities. Deloitte's significant long-term
part of Deloitte's long-standing commitment to talent
investment in the Deloitte University system enables its
development and building a workforce with the skills to solve
people to advance their careers and participate in leadership-
the business and societal challenges of the Fourth Industrial
development programs in a world-class learning
Revolution. The key focus of the initiative is an effort to
environment. In FY2019, nearly 133,000 Deloitte people
attract, retain, and increase the representation of women
around the world experienced DU. Additionally, a new personalized digital PAGE 015
THE HIKE MAGAZINE
Deloitte's Decade of Consistent Growth
experience, powered by AI and machine learning, will provide Deloitte professionals with learning recommendations and access to the latest knowledge and skills-based learning they need, when and where needed. In addition to preparing its people and clients with the skills required for the jobs of the future, Deloitte is committed to helping millions of people around the world find meaningful work in the new economy. By 2030, Deloitte's global societal impact initiative, WorldClass, aims to empower 50 million people by improving education outcomes, developing job skills, and providing access to opportunities. Since launching two years ago, WorldClass has reached 5.3 million people. This year, WorldClass continued to expand, reaching 3.8 million people and launching new programs in India, China, and South Africa. In alignment with Deloitte's global diversity and inclusion initiative, WorldClass includes a focus on identifying community opportunities and stakeholders who can raise the aspirations, confidence, and engagement of girls and young women, thereby preparing them for jobs, entrepreneurial endeavors, and the Fourth Industrial Revolution. For example, WorldClass in India is focused on accelerating high-impact solutions and promoting cross-sector collaboration with businesses, government, and nonprofits in order to help 10 million girls and women be better prepared for the future of work. Profit – Record revenue marks 10th consecutive year of growth. Deloitte's strategy and multidisciplinary business model continued to drive success globally in FY2019. All five business areas — Audit & Assurance, Consulting, Financial Advisory, Risk Advisory, and Tax & Legal — grew during this time. All six industries also contributed to Deloitte's growth in FY2019. Growth among the industries was led by Energy, Resources & Industrials, which grew at 20.4 percent, followed by Life Sciences & Health Care at 12.4 percent, Technology, Media & Telecoms at 10.3 percent, Consumer at 8.5 percent, Financial Services at 5.9 percent, and Government & Public Services at 2.9 percent. Financial Services was the top contributor with US$12.4 billion in aggregate global revenue for FY2019. Among the regions, revenue in Asia Pacific grew fastest with a local currency growth of 11.6 percent, followed by the Americas at 10.4 percent, and Europe, the Middle East, and Africa (EMEA) at 7.9 percent. PAGE 016
Deloitte CEO Punit Renjen
"Our FY2019 results are a validation of Deloitte's strategy to deliver high-quality, globally consistent service to our clients while continuing to serve the public interest and working to restore trust in capital markets. We evolved and innovated our offerings to address current and emerging client needs, and we increased our investments in learning and development to build a workforce with deep knowledge, capabilities, and leading-edge insights," says Renjen. Key growth drivers for Deloitte's businesses in FY2019 included: Audit & Assurance revenue experienced aggregate growth at 3.0 percent. Ongoing investments in audit quality, transformation, innovation, and technology demonstrates Deloitte's commitment to restoring trust in the capital markets and serving the public interest, with audit quality being Deloitte's top priority. Deloitte's innovation and technology investments are anchored by its next-generation, cloudbased audit platform, Omnia. The platform enables the audit of the future, incorporating everything from data analytics to engagement project management and audit applications. Deloitte's market-leading portfolio of audit innovation tools also includes Cortex, an analytics platform which was recognized as the "Audit Innovation of the Year" in October 2018. Deloitte's Assurance services business continues to grow at a rapid pace, delivering confidence and additional value across a broad range of service offerings, with revenue totaling US$1 billion for FY2019 and strong continued growth expected. Consulting revenue grew the fastest globally, at 15.2 percent, by helping leading organizations imagine, deliver, and run the future of their businesses in an era of unprecedented change. Deloitte was ranked number one in worldwide consulting for its market share in April 2019, based on revenue from 2018. Growth and market share increased across the board in mature and emerging markets, with the highest growth occurring in Asia Pacific, as Deloitte helped clients execute their digitally enabled business transformations. This growth was fueled by sustained and successful orchestration of assets and ecosystems across digital, cloud, cognitive and AI, and internet of things (IoT) in collaboration with key alliance partners, such as Adobe, Alibaba Cloud, Amazon Web Services (AWS), Google Cloud, IBM, Informatica, Salesforce, SAP, ServiceNow, and Workday. Areas of hypergrowth included the Consumer industry and Energy, Resources & Industrials industry verticals, and solutions to signature issues clients face in areas like the future of work, smart cities, and the future of health. PAGE 017
Tax & Legal saw the second-highest revenue growth globally
investigations, and crises and addressed the global impact of
among Deloitte businesses at 8.5 percent, driven by client
financial crime through innovative technology and digital
demand for globally integrated, digitally enhanced services to
provide them with confidence in a rapidly changing and complex environment. Radical and emerging global tax
"In today's hyperconnected world, the best solutions to
reforms (including the digitization of reporting, an evolving
address client challenges are developed by ecosystems of
policy landscape, and increasing transparency expectations
problem solvers. Deloitte's success is driven, in part, by our
for multinational businesses) and demand for integrated legal
alliance relationships with many of the world's most powerful
services underpin this growth. In addition, the ongoing
and innovative companies that help our clients solve their
development of key strategic alliances, including with Berry
most complex problems, shape new markets, and create
Appleman & Leiden LLP in immigration law and Epstein
sustainable value," added Renjen.
Becker & Green, P.C. in employment law, are laying the foundation for global leadership in end-to-end global mobility
Planet – Shaping our future through environmental
and workforce-management services.
sustainability. Deloitte believes business has a critical responsibility to help
Risk Advisory grew at an aggregate 8.4 percent with double-
mitigate the impacts of climate change. Deloitte has
digit growth in its Cyber Risk and Financial Risk offerings.
committed to the global reduction of carbon emissions as part
Gartner ranked Deloitte #1 in Security Consulting Services for
of its ongoing and increasing efforts to preserve the planet
its market share in July 2019, based on revenue from 2018.
and natural resources for future generations. Deloitte strives
Deloitte is globally recognized as a leader in cyber strategy
to lower its carbon emissions in line with the Paris Agreement
consulting and Fusion Managed Services (FMS). Risk Advisory
and has set specific reduction goals for its buildings, fleet, and
delivered innovative, digitized, tech-enabled solutions, driving
business travel by FY2025 from its FY2017 levels. The building
growth, efficiency, and modernization for clients. Strong
and fleet goals were formulated in line with methodologies
results for Government & Public Services, Life Sciences &
put forth by the Science-Based Targets Initiative aimed at
Health Care, and Energy, Resources & Industrials clients led
limiting emissions in accordance with the Paris Agreement.
the way from an industry perspective. Risk Advisory focused on helping clients transform the way they strategically
Deloitte's greenhouse gas emissions goals cover the entire
approach risk in what is an ever-evolving and complex
global organization and address its major sources of
emissions. The goals include a 36 percent per unit of area reduction in building emissions, 11 percent reduction in fleet
Financial Advisory grew 8.1 percent globally, delivering
emissions, and 10 percent per FTE reduction in travel
impact for clients and society through Mergers, Acquisitions,
emissions. And furthering Deloitte's commitment to
Divestitures, and Forensic services. Growth was fueled by
sustainability, emissions arising from Deloitte air travel during
serving as a trusted advisor on many of the world's most
FY2019 are being offset through the purchase of carbon
iconic M&A transactions for corporations, private equity, and
sovereign wealth funds. Deloitte's market-leading Forensic practices prevented and remediated complex disputes,
To learn about Deloitte societal impact: www.deloitte.com PAGE 018
Deloitte About the Deloitte societal-impact commitment Addressing the complex challenges society faces today has become a mandate for business, and one that requires a new mindset for action. Deloitte is taking action through WorldClass, a societalimpact initiative to empower 50 million futures by 2030. Our ambition is to create pathways for people to fulfill their aspirations and find meaningful work in the new economy. Deloitte is also empowering women around the globe, promoting environmental sustainability, investing in new insights and methodologies, and serving clients to fulfill their purpose. Deloitte is committed to responsible business practices, serving the public interest, and making an impact on society. Learn more about our commitments here on our website. About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited ("DTTL"), its global network of member firms, and their related entities (collectively, the "Deloitte organization"). DTTL (also referred to as "Deloitte Global") and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Deloitte is a leading global provider of audit and assurance, consulting, financial advisory, risk advisory, tax and related services. Our global network of member firms and related entities in more than 150 countries and territories (collectively, the "Deloitte organization") serves four out of five Fortune Global 500® companies. Learn how Deloitte's more than 312,000 people make an impact that matters at www.deloitte.com PAGE 019
HENLEY & PARTNERS: RISING ANXIETY OVER IMPACT OF NO-DEAL BREXIT ON BRITAIN'S PASSPORT POWER With just weeks to go until the 31 October Brexit deadline,
Over the past 14 years, the UK has consistently held one of
Brits are becoming increasingly concerned about the
the top five places on the Henley Passport Index.
potential decline in their passport power.
However, with its exit from the EU now imminent, coupled
As millions return from their visa-free summer holidays
with ongoing confusion around the terms of its departure, the
abroad, and the more than five million British passport
UK's once-strong position looks increasingly uncertain, with
holders living permanently outside the UK anxiously consider
the British passport falling out of the top five on the global
their alternative citizenship options, there is a growing
ranking for the first time in July this year.
acknowledgement that the British passport may soon not be what it used to be in terms of global mobility and settlement
Dr. Juerg Steffen, Chief Executive Officer of investment
migration firm Henley & Partners, says they have seen a 200% increase in British nationals applying for residence- and
"Hard" Brexit, "soft" Brexit, no deal, or even a second
citizenship-by-investment programs over the past two years.
referendum all could result in radically different and largely unpredictable implications for British passport holders, from
"We have seen a significant spike recently in enquiries about
the ease of doing business and travelling abroad, to the
investment migration options from both Brits as well as Hong
ability to live, work, and study anywhere in the EU.
Kong high-net-worth-individuals (HNWIs). As most private PAGE 020
THE HIKE MAGAZINE
Henley & Partners
wealth managers will tell you, affluence alone is not a guarantee of personal and financial freedom and security. This might not have been intuitive for British HNWIs who have thus far enjoyed the luxury of possessing bulletproof citizenship, but for HNWIs from less stable jurisdictions, the idea of managing your risks and creating opportunity through alternative residence and citizenship is well understood." For British HNWIs without the ancestral connections to join the well-documented spike in German, Irish, and other European citizenship applications, there are numerous options available. For an investment of between EUR 1 million and EUR 2 million, Malta and Cyprus offer the most popular citizenshipby-investment programs in the EU at present. Along with the majority of other EU member states, they both also offer residence-by-investment at a lower price point. The Portugal Golden Residence Permit Program and the Greece Golden Visa Program, where the minimum investment in property begins at EUR 350,000 and EUR 250,000, respectively, are also increasingly popular and include the opportunity to apply for full citizenship after five years. Dr. Steffen points out that many residence- and citizenship-byinvestment programs around the world include this real estate option that enables investors to include a property purchase in their application. "With the real estate market in Europe currently flourishing, acquiring property-linked citizenship or residence is a safe and sensible investment. Investment migration programs have an inbuilt volatility hedge, in that there is a wider value equation that is separate to the standard real estate metrics — everything that comes with enhanced mobility. It remains an affordable and viable means of mitigating the risk factors on every side of the Brexit debate." About Henley & Partners Henley & Partners is the global leader in residence and citizenship planning. Each year, hundreds of wealthy individuals and their advisors rely on our expertise and experience in this area. The firm’s highly qualified professionals work together as one team in over 30 offices worldwide. Website: www.henleyglobal.com PAGE 021
INVESCO - SOVEREIGN INVESTORS PIVOT AWAY FROM EUROPE TOWARD CHINA Invesco, a leading asset manager with over 30 years of
leading them to be more defensive and diversified in their
expertise in factor investing, today released findings from its
portfolios. Sovereigns have reduced equity exposure in favor
seventh Invesco Global Sovereign Asset Management Study,
of fixed income, but continue to blaze a trail with rising long
an annual in-depth report on the complex investment
term commitments to private markets, which for larger
behavior of sovereign wealth funds and central banks, which
sovereigns now include direct investments in China and the
this year shows disenchantment with Europe among
technology sector," said Alex Millar, Head of EMEA
This year's study was conducted face-to-face amongst 139
"As trade wars continue to impact markets, our research
individual sovereign investors and central bank reserve
shows sovereigns' shifting toward China, demonstrating their
managers across the globe representing $20.3 trillion of
ability to look past short-term geo-political issues and
assets, of which 71 are central banks (62 in 2018), reflecting
capitalize on core dynamics, in this case the continued
their growing status as sovereign investors.
maturing of the world's second largest economy," continued John Galateria, Head of North America Institutional, Invesco.Â
"Our authoritative annual study of the global sovereign segment shows sovereigns and central banks preparing for
Another particularly notable finding is the rapid development
an end to the current economic cycle seen within two years,
of ESG implementation by sovereigns with their focus moving PAGE 022
from 'G' governance initiatives to more closely looking at 'E'
Investors see less economic attractiveness in Europe.
A combination of slowing economic growth and perceptions of rising political risk have led to a decline in the perceived
Additional key findings include>>
attractiveness of major European economies. Brexit is now influencing asset allocation decisions for 64% of sovereigns.
Sovereigns optimistic on China.
While continental Eurozone internal politics, seen as
China's attractiveness rating for sovereign investors has
increasingly uncertain with the ascendance of populist
improved more than any other major region since 2017.
movements in major European economies such as Germany
Some 82% of sovereigns cited trade tensions as having had an
and Italy, are impacting asset allocation decisions for 46%.
influence on asset allocation decisions, yet China's
This has resulted in Europe falling out of favor, with nearly one
attractiveness as an investment destination over the next
third of sovereign investors decreasing allocations to Europe
three years scored an average rating of 6.1 out of 10 among
in 2018 and a similar number planning further decreases in
sovereign investors, a marked increase on 2017's 5.2 rating.
2019. Only 13% of sovereigns plan on increasing allocations to
Despite the fact that the study was carried out during a period
Europe this year, compared to a 40% allocation to Asia and
of ongoing rhetoric on a trade war, those surveyed saw
36% to Emerging Markets.
China's pledge to improve safeguarding of intellectual property as grounds for optimism that some resolution of
Environmental considerations move ESG firmly into the
tensions would be reached. The unique competitive dynamics
of China are appealing for sovereigns seeking more
ESG is an increasingly important issue for sovereigns and
diversification, the survey found, with equities continuing to
central banks. Since 2017, the percentage of sovereigns with
be the asset class most favored.
a specific ESG policy rose from 46% to 60%. 20% of central
Approximately 90% of sovereigns with China exposure held
banks now have an ESG policy, compared to 11% in 2017.
Chinese equities, showing that the government's measures to
Approaches to ESG are increasingly sophisticated, having
open the market to foreign investors are bearing fruit. Fixed
moved beyond screening to incorporate more advanced
income allocations are also likely to increase with China's
forms of integration. There has also been a shift in focus of the
inclusion in major bond indices and initiatives, such as Bond
nature of ESG activity. While asset owners have, in the past,
Connect, giving foreign investors access to the local bond
focused on issues of governance due to clearer risk and return
market. Transparency remains a significant obstacle to higher
benefits, these factors are now often assumed by ESG
allocations in China for sovereigns, while for those sovereigns
adopters. For sovereigns, environmental concerns are
with no existing allocation to China, investment restrictions
increasingly becoming the lead focus, with carbon emissions
and currency risk are seen as the main impediments.
and climate change the single most important ESG issue. PAGE 023
Renminbi finds a bigger place in central banks reserve
4% in 2018 compared to 9% in 2017. Despite the decrease in
returns, sovereigns performed well given negative returns
As a group, central banks believe the end of the economic
from global equities, which fell 8.7% in US dollar terms during
cycle will be characterized by a gradual slowdown, rather than
the year, according to MSCI World Index. The majority of
an economic crisis. However, the uncertain market
sovereigns (89%) anticipate the end of the economic cycle
environment, combined with an increasingly hawkish Federal
within the next two years. This combined with volatility
Reserve, led many of them to find perceived safety in
concerns and the prospect of negative returns from equities
increased allocations to deposits, and, in some cases, gold.
has led to increased fixed income allocations and more
Central banks bought 651.5 tons of gold in 2018, the second
diversification in allocations to infrastructure, real estate and
highest annual total on record and up 74% from the year
private equity markets. Fixed income allocations increased to
earlier. Over a third (35%) of central banks increased
33% in 2019 from 30%, becoming sovereigns' largest asset
allocations over the last three years, with 32% expecting
class. Meanwhile, allocations to equities fell from 33% to 30%,
further increases over the next three years, but overall gold
marking the end of a five-year trend between 2013 and 2018
holdings remain steady at around 4% of overall reserve
during which fixed income fell from 35% to 30% as equities
portfolios. Respondents to the study reported additional
posted strong gains. Challenging equity markets in 2018
challenges associated with gold as a reserve asset, including
highlighted the limitations of market-cap weighted passive
volatility, storage costs and the political implications of
strategies, as well as some more basic factor strategies.
selling. 75% of central banks agreed or strongly agreed that
Some of the most popular factor strategies, e.g. value and
selling gold holdings would attract negative domestic media
momentum, performed below sovereign expectations during
coverage in their country. Central banks continue to diversify
2018, and some of those adopting a simple 'set and forget'
away from the negative yields of government bonds
approach to their factor allocations reported negative returns.
(especially in Europe) into bank deposits; and away from the
This is encouraging a move away from a single-factor
US dollar. The main beneficiary has been the Renminbi and
approach towards multi-factor positions that can better adapt
between 2017-18, allocations to China's currency overtook the
to changing market conditions.
Australian and Canadian dollar, with 43% of central banks now holding it in their portfolios, compared to 40% in 2018.
About Invesco: Invesco Advisers, Inc., an indirect, wholly
Over a quarter (27%) of central banks expect to continue to
owned subsidiary of Invesco Ltd. Invesco is an independent
increase Renminbi reserves in 2019, making it the most
investment management firm dedicated to delivering an
favored currency for the year ahead, with increased
investment experience that helps people get more out of life.
allocations expected to be taken from the USD, EUR and GBP.
This is Invesco's seventh sovereign asset management study.
Though USD remains the dominant reserve currency,
In 2019 we conducted interviews with 139 funds: 68 sovereign
allocations reached a 5-year low, falling from 62.7% of global
investors and 71 central banks. The 2019 sovereign sample is
currency reserves to 61.7%.
split into three core segmentation parameters (sovereign investor segment, region and size of assets under
Fixed income displaces equities as largest asset class for
management). The 2019 central banks sample is broken down
by developed vs emerging market. This commentary is by way
2018 was a challenging year for sovereigns as weak and
of information only. Views and opinions expressed are based
volatile equity markets led to a decline in overall investment
on current market conditions and are subject to change.
returns. On average, sovereign investors achieved returns of
For more information: www.invesco.com PAGE 024
VIDEOS FOR CEOS www.worldbizmagazine.com
IBM STUDY SHOWS DATA BREACH COSTS ON THE RISE; FINANCIAL IMPACT FELT FOR YEARS Breaches Pose Growing Risk for Small Businesses, Costing
For the first time this year, the report also examined the
up to 5% of Annual Revenue.
longtail financial impact of a data breach, finding that the effects of a data breach are felt for years. While an average of
IBM Security has announced the results of its annual study
67% of data breach costs were realized within the first year
examining the financial impact of data breaches on
after a breach, 22% accrued in the second year and another
organizations. According to the report, the cost of a data
11% accumulated more than two years after a breach.
breach has risen 12% over the past 5 years and now costs $3.92 million on average. These rising expenses are
The longtail costs were higher in the second and third years
representative of the multiyear financial impact of breaches,
for organizations in highly-regulated environments, such as
increased regulation and the complex process of resolving
healthcare, financial services, energy and pharmaceuticals.
criminal attacks.Â "Cybercrime represents big money for cybercriminals, and The financial consequences of a data breach can be
unfortunately that equates to significant losses for
particularly acute for small and midsize businesses. In the
businesses," said Wendi Whitmore, Global Lead for IBM X-
study, companies with less than 500 employees suffered
Force Incident Response and Intelligence Services. "With
losses of more than $2.5 million on average â€“ a potentially
organizations facing the loss or theft of over 11.7 billion
crippling amount for small businesses, which typically earn
records in the past 3 years alone, companies need to be
$50 million or less in annual revenue.
aware of the full financial impact that a data breach can have PAGE 026
on their bottom line –and focus on how they can reduce these
and human error. These breaches are a growing threat, as the
percentage of malicious or criminal attacks as the root cause of data breaches in the report crept up from 42% to 51% over
Sponsored by IBM Security and conducted by the Ponemon
the past six years of the study (a 21% increase).
Institute, the annual Cost of a Data Breach Report is based on in-depth interviews with more than 500 companies around
That said, inadvertent breaches from human error and system
the world that suffered a breach over the past year.
glitches were still the cause for nearly half (49%) of the data
The analysis takes into account hundreds of cost factors
breaches in the report, costing companies $3.50 and $3.24
including legal, regulatory and technical activities to loss of
million respectively. These breaches from human and
brand equity, customers, and employee productivity.
machine error represent an opportunity for improvement, which can be addressed through security awareness training
Some of the top findings from this year's report include:
for staff, technology investments, and testing services to identify accidental breaches early on. One particular area of
(1) Malicious Breaches – Most Common, Most Expensive: Over
concern is the misconfiguration of cloud servers, which
50% of data breaches in the study resulted from malicious
contributed to the exposure of 990 million records in 2018,
cyber-attacks and cost companies $1 million more on average
representing 43% of all lost records for the year according to
than those originating from accidental causes.
the IBM X-Force Threat Intelligence Index.
(2) "Mega Breaches" Lead to Mega Losses: While less common, breaches of more than 1 million records cost companies a
Breach Response Remains Biggest Cost Saver
projected $42 million in losses; and those of 50 million records
For the past 14 years, the Ponemon Institute has examined
are projected to cost companies $388 million.
factors that increase or reduce the cost of a breach and has
(3) Practice Makes Perfect: Companies with an incident
found that the speed and efficiency at which a company
response team that also extensively tested their incident
responds to a breach has a significant impact on the overall
response plan experienced $1.23 million less in data breach
costs on average than those that had neither measure in place.
This year's report found that the average lifecycle of a breach
(4) U.S. Breaches Cost Double: The average cost of a breach in
was 279 days with companies taking 206 days to first identify
the U.S. is $8.19 million, more than double the worldwide
a breach after it occurs and an additional 73 days to contain
the breach. However, companies in the study who were able
(5) Healthcare Breaches Cost the Most: For the 9th year in a
to detect and contain a breach in less than 200 days spent
row, healthcare organizations had the highest cost of a breach
$1.2 million less on the total cost of a breach.
– nearly $6.5 million on average (over 60% more than other industries in the study).
A focus on incident response can help reduce the time it takes companies to respond, and the study found that these
Malicious Breaches Pose a Growing Threat, Accidental
measures also had a direct correlation with overall costs.
Breaches Still Common: The study found that data breaches
Having an incident response team in place and extensive
which originated from a malicious cyberattack were not only
testing of incident response plans were two of the top three
the most common root cause of a breach, but also the most
greatest cost saving factors examined in the study. Companies
expensive. Malicious data breaches cost companies in the
that had both of these measures in place had $1.23 million
study $4.45 million on average – over $1 million more than
less total costs for a data breach on average than those that
those originating from accidental causes such as system glitch
had neither measure in place ($3.51 million vs. $4.74 million). PAGE 027
THE HIKE MAGAZINE
IBM - Data Breach Costs
Additional factors impacting the cost of a breach for companies in the study included: (1) Number of compromised records. Data breaches cost companies around $150 per record that was lost or stolen. (2)Companies that fully deployed security automation technologies experienced around half the cost of a breach ($2.65 million average) compared to those that did not have these technologies deployed ($5.16 million average). (3) Extensive use of encryption was also a top cost saving factor, reducing the total cost of a breach by $360,000. (4) Breaches originating from a third party – such as a partner or supplier – cost companies $370,000 more than average, emphasizing the need for companies to closely vet the security of the companies they do business with, align security standards, and actively monitor third-party access. Regional and Industry Trends The study also examined the cost of data breaches in different industries and regions, finding that data breaches in the U.S. are vastly more expensive – costing $8.19 million, or more than double the average for worldwide companies in the study. Costs for data breaches in the U.S. increased by 130% over the past 14 years of the study; up from $3.54 million in the 2006 study. Additionally, organizations in the Middle East reported the highest average number of breached records with nearly 40,000 breached records per incident (compared to global average of around 25,500.)For the 9th year in a row, healthcare organizations in the study had the highest costs associated with data breaches. The average cost of a breach in the healthcare industry was nearly $6.5 million - over 60% higher than the cross-industry average. About IBM Security IBM Security offers one of the most advanced and integrated portfolios of enterprise security products and services. The portfolio, supported by worldrenowned IBM X-Force® research, enables organizations to effectively manage risk and defend against emerging threats. IBM operates one of the world's broadest security research, development and delivery organizations, monitors 70 billion security events per day in more than 130 countries, and has been granted more than 10,000 security patents worldwide. For more information: www.ibm.com/security PAGE 028
INDIA WHERE BUSINESS NEVER STOPS CONTACT US FOR MORE INFORMATION>>
EVIATION: A NEW ERA OF ELECTRIC AVIATION WITH ALICE PLANE
At the 53rd Paris Air Show, Eviation Aircraft, a global manufacturer of all-electric aircraft, revealed the first allelectric commuter plane to debut at the show, its full-scale, allelectric commuter plane, Alice. To meet existing and pre-sale purchase orders for Alice, Eviation will complete its first flights and begin manufacturing in the U.S. in 2019, and, in conjunction with commercial customers and the FAA, will bring certified fleets to market in 2022. Targeting highly-trafficked "middle mile" commutes around the
Eviation begins pre-sales of its nine-passenger Alice aircraft fleets for "middle mile" flights.
world for routes like France's Paris to Toulouse, Norway's Oslo to Trondheim and America's San Jose to San Diego, Alice is a radical rethinking of the cost, experience and environmental impact of regional travel. Air carriers, like their ground mobility peers, are moving to replace expensive, aging fleets with
electric options that dramatically reduce maintenance and PAGE 030
operating costs. Alice will reduce those carrier costs by up to
"On behalf of the world-class group of suppliers within Alice's
70 percent, while bringing travelers a cost-competitive,
anatomy, we are humbled to recognize this debut as more
than an unveiling - a historic milestone within the aviation industry. With the introduction of Alice, we welcome an all-
The culmination of four years of design and collaboration with
new breed of airplanes for the first time in 50 years and it is
an ecosystem of partners that spans France, Italy, Singapore,
only the beginning of a bright future for electric aviation and
Germany, South Korea, Australia, the US and Israel, Alice
represents a breakthrough on many levels. Working hand-inhand with its world-class partners that include Honeywell
About Eviation Aircraft
(flight-by-wire systems), Siemens (EPUs), Hartzell (propellers),
Eviation Aircraft Ltd. is developing and manufacturing
magniX (EPUs) and Magnaghi Aeronautica (LG), has made the
efficient electric aircraft in an effort to make electric aviation a
Alice a harbinger of a new, more sustainable era in aviation.
fast, competitive, and sustainable answer to the on-demand
Eviation has extended its network to include the collaboration
mobility of people and goods.
with AeroTEC, which will lead Alice's flight tests and first flight
Its distributed propulsion, high-energy density batteries,
in Moses Lake, Washington and serve as a partner for
mission-driven energy management, and new airframe
structure are designed from the ground up to maximize the technological advances of electric propulsion for regional
"Capable of flying with 9 passengers at 240 knots and a range
of up to 650 miles, we are thrilled to introduce Alice to the aviation world at the aviation industry's largest gathering.
Eviation is a member of NASA's on-demand mobility program,
Operating at a fraction of the costs of conventional jet liners,
and serves on the electric aviation committees of the General
our Alice will redefine how people travel regionally and usher
Aviation Manufacturers' Association (GAMA).
in a new era of flying that is quieter, cleaner and costeffective," said Eviation CEO, Omer Bar-Yohay.
Please visit us atÂ www.eviation.co PAGE 031
HOW FOUR SEASONS DRIVES INNOVATION AND BUSINESS SUCCESS THROUGH THE POWER OF EMOTIONAL INTELLIGENCE Companies that ignore emotional intelligence will have
Emotional intelligence is a combination of self-awareness,
challenges attracting new talent, degrade their workplace
self-control, empathy and social skills. It is the bedrock of
culture and risk falling behind in the economy of the future
deep personal relationships and fosters an environment
says new global study by Harvard Business Review Analytic
wherein employees can innovate, solve problems and feel
empowered to serve as ambassadors for their brand. Nonetheless, EI is often downplayed as a 'nice-to-have' soft
A global study by Harvard Business Review Analytic Services
skill when compared to others skills such as mental
(HBR-AS) and presented by Four Seasons Hotels and
toughness, drive and analytical ability.
Resorts calls for a corporate culture transformation driven by
Four Seasons has long celebrated the importance of EI in
the power of emotional intelligence (EI). For many years, EI
building its world-renowned service culture and is
has been the cornerstone of empowered, engaged and
internationally recognized as an employer of choice,
energetic corporate cultures. Yet the study outlines a
including having been named a "Great Place to Work
troubling trend: companies worldwide are underestimating
Legend". Inspired by this legacy, Four Seasons sponsored the
the value of EI, and there is a growing disconnect between
HBR-AS study to elevate the discourse around corporate
what executives are saying about the importance of
culture and champion the "EI Advantage" as an important
company culture and what they are actually doing.
driver of company culture innovation. PAGE 032
"Long before the term emotional intelligence was coined,
including happier, motivated, and effective employees. Even
Four Seasons Founder and Chairman Isadore Sharp
more, employers wanting to create the workplace of the
understood hat empathetic, self-aware employees would
future – the one that millennials are demanding – must
build a sustainable competitive advantage in a fiercely
understand that ignoring EI not only has grave impact on their
competitive industry," says Christian Clerc, President,
human capital, but ultimately on their future success."
Worldwide Hotel Operations, Four Seasons Hotels and Resorts.
HBR-AS Research Report Key Findings The study presents ample evidence to illustrate that
"Change is hard, and cultural change is even harder,"
emotionally intelligent companies report higher levels of
continues Clerc. "More than ever, customers are seeking
productivity and employee engagement than those that
connections with the companies who serve them, and
ignore EI. This advantage gives them an innovation premium
emotionally intelligent employees are the key to delivering an
through stronger customer loyalty and profitability, as well as
authentic customer experience. For companies to succeed,
employee engagement and satisfaction. In study after study,
they must keep pace with social change and the expectations
poor corporate cultures and those with languid purposes are
of new generations. They must have a purpose that extends
often the primary culprit standing in the way of everything
beyond financial goals, and a work environment that brings
from achieving digital transformation to creating exemplary
out the best in its people. In this context, prioritizing
customer experiences. According to the survey, sidelining EI
emotional intelligence represents nothing less than the
has significant consequences, including low productivity,
evolution of the modern workplace."
lukewarm innovation and an uninspired workforce.
The study takes a close look at EI in the workplace to better
The EI Advantage: Employees with high EI skills are more
understand the gap between theory and practice, as well as
likely to form creative teams, bring multiple perspectives to
the reasons why some organizations embrace EI skills and
challenging issues and find innovative solutions. EI gives
why others dismiss it as a 'soft skill'. Mastery of EI skills has
organizations an "innovation premium" by fostering the
become more critical as employees, particularly those on the
cultural ingredients that spur innovation, including
front lines, make decisions that can materially impact a
empowerment, communication, collaboration and higher
brand's reputation and its connection to customers – for
tolerance for risk. Among emotionally intelligent companies
better or worse.
(those that emphasize and promote EI), almost two-thirds (64%) strongly or somewhat agree that their organization
"Companies love to talk about the importance of their people
"offers a high degree of empowerment with clear decision
and the strength of their human-centric workplace, yet many
rights, incentives and risk tolerance."
fail to promote EI among their leaders and their workforce," says Alex Clemente, managing director, HBR-AS. "This
EI Enhances the Customer Experience: Emotionally
research shows that many companies struggle to champion EI
intelligent organizations report significantly stronger
and reap the myriad benefits for their organizations –
customer experiences (37% vs. 8%) and higher levels of PAGE 033
THE HIKE MAGAZINE
Four Seasons Leads on Emotional Intelligence customer loyalty (40% vs. 12%) and customer advocacy (31% vs. 8%) than companies that don't perceive the value of EI or foster its development among their employees. The results of the study are clear: when corporate cultures embrace risk and encourage strong interpersonal skills, employees are more engaged, leading to better products, services and experiences for customers. The EI Deficit and Disconnect: Less than one-fifth (18%) of respondents have EI engrained in their corporate culture. Half of respondents are either neutral or uncommitted to EI, and one-third (33%) don't perceive its value to their organization. Even more troubling is that only one in ten organizations assess company-wide EI skills, demonstrating that there is still significant room for improvement. What's more, there is a stark disconnect between employees and the companies they work for when it comes to investing and valuing EI skills. In the survey, employees placed a high value on EI skills such as self-awareness, empathy and sense of humour, whereas their employers placed little to almost no value on these skills, instead valuing skills such as drive and mental toughness. Millennials Matter: Study after study echoes the refrain: millennials are the future workforce, replacing a generation of baby boomers gradually entering retirement. Twenty–seven percent of survey respondents believe Millennials expect purpose and meaning in their work, and place purpose high on their list of career priorities, well above incentives and rewards (10%) and technological advancements (5%). Millennials are alienated by organizations that are neither inclusive nor have a shared purpose, and organizations that don't recognize and prioritize EI skills will have increasing difficulty attracting and retaining Millennial employees. The Gap Between Theory and Practice: While emotionally intelligent companies are making progress on the implementation of practical steps to prioritize EI, there's still room for improvement. A small number embed EI skills into job descriptions and performance reviews (27%), and a somewhat larger percentage provide classes, seminars and online courses (40%). One-half or fewer provide EI-inspired coaching and mentoring. The struggle to tangibly invest in EI may even begin in college: one respondent noted that "top-tier MBA programs actually destroy a student's emotional intelligence" by focusing on so-called "hard traits" such as analytical skill and decisiveness. About Four Seasons Hotels and Resorts: Founded in 1960, Four Seasons Hotels and Resorts is dedicated to perfecting the travel experience through continual innovation and the highest standards of hospitality. Currently operating 115 hotels and resorts, and 43 residential properties in major city centres and resort destinations in 48 countries, and with more than 50 projects under planning or development, Four Seasons consistently ranks among the world's best hotels and most prestigious brands in reader polls, traveller reviews and industry awards. For more information: www.fourseasons.com PAGE 034
The City of Innovation and your Gateway to Latin America
FAIRMONT HOTELS MAXIMIZES ITS GLOBAL OCCUPANCY AND WELCOMES OVER 2 MILLION WELL-TRAVELLED BEES To celebrate Pollinator Month, Fairmont
and to encourage visitors to follow along
Hotels & Resorts, a pioneer of responsible
through in-depth analysis, real time hive
tourism and sound environmental
monitoring and the latest updates from its
practices, announced the next evolution
rooftop apiaries and bee hotels.
of its Bee Sustainable programming with the launch of a new interactive digital
"As the first luxury hotel brand to develop
comprehensive onsite bee programming, Fairmont is an industry leader in the
The new platform was created to help
support of sustainable practices; the
educate guests and Fairmont colleagues
evolution of our continued commitment
about the importance of global bee health
over the past 10 years with the creation of
Fairmont Hotels + The Pollinator Partnership
Fairmont Bee Sustainable launches new digital platform featuring live hive monitoring and indepth honey analysis to increase awareness of global bee health. PAGE 036
THE HIKE MAGAZINE
Fairmont Hotels Bee Program
our Bee Sustainable initiative is no exception," said Sharon Cohen, Vice President, Fairmont Brand. "Fairmont hotels around the world take great pride in the contribution to their local communities and through the development of our on-property bee hives and sustainable bee habitats, we are able to further promote the significance of pollinator health globally." To share with guests A Day in the Life of a Fairmont Bee, the brand has championed an exciting digital pilot, the first of its kind in the hospitality industry, by installing cameras and hive-tracking devices at five of its properties around the world. Featured hotels in the pilot included Vancouver's Fairmont Waterfront, Fairmont Washington D.C., Fairmont Yangcheng Lake in China, Fairmont Mount Kenya Safari Club and Fairmont San Francisco. State-of-the-art technology tracked the number of visiting bees and distance they travelled per day while honey data collected included analysis of the flower, tree and plant nectars used, the classification of color and grade according to the Pfund scale and the rate of humidity. "The commitment that Fairmont has made to its Bee Sustainable programming brings invaluable conservation in two distinct ways: the bee hives and bee hotels provide exceptional homes for a variety of pollinating bee species; and the distinctive displays and programs at each unique Fairmont property provide inspiration and connection to pollinator issues for visitors and employees alike," said Laurie Davies Adams, President and CEO, Pollinator Partnership. "It is a powerful package, engaging a whole new audience in the pollinator issue through on-site involvement with nature." As June marked Pollinator Month, Fairmont properties around the world celebrated through customized onsite activity including interactive guest experiences, signature menus and customized offers. Fairmont Waterfront in Vancouver is launching its very own vlog series, "The Buzz" in an effort to share the importance of bees and create positive community connections through short and meaningful stories. Fairmont Yangcheng Lake in Kunshan, China has created a Be a Beekeeper Package available from June to December 2019 featuring set honey inspired menus for two, an exclusive bee welcome amenity and mini beekeeper courses. Fairmont Orchid on Hawaii's Big Island has launched a Botanical Garden and Bee Tour to celebrate the significance bees have to the PAGE 037
Hawaiian culture, culinary offerings and sustainability efforts.
Fairmont Hotels & Resorts is where occasions are celebrated
This hour-long tour will take place on June 25 and culminate
and history is made. Landmark hotels with unrivalled
in a honey and wine tasting.
presence, authentic experiences and unforgettable moments
The experience will feature an in-depth exploration of several
have attracted visitors to Fairmont and its destinations since
tropical plant species, the hotel's four flow hives filled with
1907. The Plaza in New York City, The Savoy in London,
80,000 honeybees and nature trails passing through waterfalls
Fairmont San Francisco, Fairmont Banff Springs and Fairmont
and ocean vistas.
Peace Hotel in Shanghai are but a few of these iconic luxury hotels, forever linked to the special places where they reside.
For close to 30 years, Fairmont Hotels & Resorts has been
Famous for its engaging service, grand public spaces, locally
committed to proactively protecting local environments
inspired cuisine and celebrated bars and lounges, Fairmont
through its award-winning Fairmont Sustainability
promises a special brand of thoughtful luxury that will be
Partnership, now part of Accor's Planet21 program.
remembered long after any visit. With a worldwide portfolio of more than 75 hotels, Fairmont also takes great pride in its
Over the last decade, Fairmont has committed itself to
deep community roots and leadership in sustainability.
improving the overall health and conservation of bee species
Fairmont is part of Accor, a world-leading augmented
globally, and has built more than 40 apiaries and wild bee
hospitality group offering unique and meaningful experiences
hotels at properties around the world, including most
in 4,800 hotels, resorts, and residences across 100 countries.
recently, Fairmont's first foray into France with its newly
www.fairmont.com | www.group.accor.com
opened bee hotel at Accor's global headquarters in Paris. The Pollinator Partnership (P2) is a 501(c)(3) organization For guests looking to further their support of bee health at
dedicated exclusively to the protection and promotion of
home, the brand will have its own mini bee hotels available
pollinators and their ecosystems. P2 works with farmers,
this summer at www.fairmontstore.com
beekeepers, scientists, governments and members of industry to promote actions and policy that benefit, protect, and
For more information on the Fairmont Bee Sustainable
promote pollinators. In 2018 P2 celebrated over 20 years of
program and the importance of honeybees and wild bees
action and advocacy for pollinators.
please visit www.fairmontbeesustainable.com
www.pollinator.org PAGE 038
LIFE SCIENCES AND HEALTH SCIENCES
TORONTO Annual r&d spend
$1 Billion USD
CALIFORNIA GOVERNOR'S OFFICE OF BUSINESS AND ECONOMIC DEVELOPMENT
CALIFORNIA IS THE FIFTH LARGEST ECONOMY IN THE WORLD. California is a leading economic player on the global stage
market, workforce, and concentration of corporate,
– it is the fifth largest economy in the world. California is
financial, and high-technology resources. What’s more,
the agricultural capital of the United States, the cultural
California has 11 ports, 12 international airports, and
capital of the Pacific Rim, and the innovation capital of
houses one of the largest concentrations of international
the world. Trade and foreign direct investment are at the
banks, foreign consulates, and bi-national chambers of
center of California’s economy. The state handles over
commerce in the United States. California welcomes
$600 billion in exports and imports, relies on the skills and
many forms of foreign investment, from entrepreneurial
talents of 40 million residents, including 11 million
ventures to major manufacturing or distribution facilities.
immigrants, and leverages its leading position in the world to propel the economy forward.
EB-5 Investor Visa Program California is a popular state for EB-5 investment. The EB-5
California ranks first in the United States in two-way
Investor Visa program is run by the U.S. Government, but
trade, agriculture exports, technology exports, and
GO-Biz is responsible for State of California designation of
foreign direct investment. These numbers translate to
high unemployment locations known as Targeted
millions of jobs across the state. International trade
Employment Areas, or TEAs. Locating a project in a TEA
supports 4.7 million California jobs and foreign direct
potentially allows an investment to qualify for an EB-5
investment is responsible for over 750,000 jobs.
visa at the lower $500,000 threshold.
California attracts more foreign direct investment than
International trade is a critical component of California’s
any other state. There are many reasons why California is
economic growth and job creation. In 2018, California
such a popular location for international companies.
ranked first in the United States in two-way trade, with an
No other state can match California’s location, consumer
estimated value of $619 billion with 230 foreign markets. PAGE 040
Welcome to California California’s Economy And International Trade > International trade supports more than 4.7 million California jobs. > These trade-related jobs come from large and small companies, farmers, and factories. > Exports support small, medium, and large businesses. > Most California exporters are small and medium-sized companies with less than 500 workers. > California exports billions of dollars in goods and services annually, including electronics, transportation equipment, agricultural products, software, and machinery. > Customers in 230 countries buy California-grown and Californiamade goods and services. > Top markets like Mexico, Canada, and China buy billions of dollars of California products and services every year. > Free Trade Agreements (FTAs) have led to rapid export growth to partner countries. > America’s FTA partners purchased over 40% - more than $73 Billion - of California’s total exported goods in 2018. > Although trade agreements are negotiated and regulated by the federal government, their impact on California is significant. Businesses in California have access to a highly-skilled workforce, thanks to the state’s world-class universities, community colleges, and workforce training providers. The state offers incentives to encourage hiring, and businesses must also be mindful of responsibilities for administering employees, including business registration filings, wage and hour laws, workers compensation insurance requirements and health care responsibilities. The International Affairs and Trade unit works to drive business for California and increase global economic strength and competitiveness. For enterprises and entrepreneurs looking to establish or expand in California, services include: > Site selection and logistical assistance. > Demographic, wage, tax, and utility cost data. > Quality of life facts for workers and their families . > Networking opportunities with local government and businesses. Whether you are interested in starting and growing your business, finding applicable incentives or looking for financial assistance to operate your business, the California Business Portal is here to help! For more information: www.businessportal.ca.gov PAGE 041
HOW EUROPE'S BANKS CAN REVIVE THEIR CAPITAL MARKETS BUSINESS Bain & Company identifies what Europe's banks need to do to become more competitive. New Bain & Company research finds European banks struggle
"European banks have struggled to compete in the years
compared with their American counterparts but still have an
following the global financial crisis, but there are clear
opportunity to chart a new course and regain their footing at
actions that they can take to regain their footing, especially
in the capital markets business," said Mike Kuehnel, a partner at Bain & Company and lead author of the report.
European banks are struggling to keep up with US banks in the
Bain & Company's research outlines four imperatives for
capital markets business, and without charting a new course,
they will see their share and overall prospects decline further. For capital markets as a whole, Bain & Company forecasts a
1. Accelerate select investments in digital technologies
base-case scenario in which global revenues will grow by 5
All capital markets competitors have been stepping up
percent to $231 billion by the end of 2021, led by the fixed-
technology purchases and upgrades to wring efficiency from
income and M&A businesses.
operations, develop new services or raise service quality. Categories of technology vary greatly in their expected
To become more competitive, Europe's banks will have to
impact in the years ahead. Financial services executives
accelerate their digital investments, upgrade their talent, raise
expect machine learning, AI and blockchain to have the
their sales and marketing prowess, and improve their external
greatest impact by 2025, according to a Cognizant survey.
partnerships. These are the findings from Bain & Company's
Looking across the lines of business, Bain expects robotic
new report, 'How Europe's Banks Can Regain the Capital
process automation, digitization and blockchain to produce
Markets Business at Home.'
the largest effects in credit, commodities and rates (trading PAGE 042
"To map out an effective path on these imperatives, banks need to view the business through its purpose, rather than its products," Christian Graf - Partner at Bain & Company
of sovereign bonds, derivatives, options on swaps and
4. Look outside to the broader ecosystem
Examining the entire capital markets value chain may uncover opportunities for cultivating external partnerships
2. Upgrade the talent model
with fintechs, market infrastructure players and nonbank
The evolution of capital markets requires rethinking the
participants to upgrade a capability or fashion a better
role of bankers for tomorrow's environment.
product. Keeping options open is key, so it's worth
They will need to be more adept at using technology and
considering a reasonably large number of potential
leveraging data-driven insights, and professionals with
partners. It is also key to understand the cultural challenge
those skills are hotly pursued by many industries.
and the mindset shift that will be required over time—that
As the appeal of investment banking has dwindled, junior
is, to regard fintechs not as competitors but as potential
candidates have increasingly chosen careers with
partners that could help a bank to become more agile and
promising fintechs, major technology firms or even
nonfinancial corporations.When Bain interviewed executives at banks' client companies, they consistently
"To map out an effective path on these imperatives, banks
cited relationship management as the most dominant
need to view the business through its purpose, rather than
factor in recommending their "core bank." In this context,
its products," said Christian Graf, a partner at Bain &
they put the highest value on responsiveness, a proactive
Company and a co-author of the report. "This purpose
approach and stability of the bank's coverage.
should flow from its core capabilities and it takes a
To excel in relationships, banks will need to invest in
rigorous review of the bank's strength from a strategy
frontline talent, mobilize the right sector and product
perspective to define the right moves and commit to any
specialists in the right place at the right time, and embed
the client's perspective into the chosen strategy. Winning banks, in sum, will be those that offer the most attractive
About Bain & Company
talent model and performance culture.
Bain & Company is a global consultancy that helps the world's most ambitious change-makers define the future.
3. Raise the game in sales and marketing
Across 58 offices in 37 countries, we work alongside our
More effective cross- and upselling comes from articulating
clients as one team with a shared ambition: to achieve
a clear ambition, laying out a detailed account-by-account
extraordinary results that outperform their competition
plan, and aligning compensation and other incentives.
and redefine their industries. We complement our tailored,
Rather than simply responding to RFPs, banks with
integrated expertise with a curated ecosystem of digital
advanced commercial instincts identify clients with the
innovators to deliver better, faster and more enduring
greatest potential for ongoing, profitable business.
outcomes to our clients. Since our founding in 1973, we
European banks, in particular, have an opportunity to look
have measured our success by the success of our clients.
beyond the largest clients to find attractive midsize clients.
We proudly maintain the highest client advocacy in the
That franchise holds large potential value, as midsize
industry, and our clients have outperformed the stock
companies still want close geographic proximity to their
bankers—a preference that favors European, not US banks.
Learn more at www.bain.com PAGE 043
NJF CAPITAL: THE RISE OF THE EUROCORN: EUROPE'S BILLION-DOLLAR BUSINESSES In 2018 alone, 17 European companies achieved unicorn status, six of which were in the UK. Europe's tech ecosystem is becoming a worthy rival to the
The role of tech research and development in Europe
US thanks to a recent boom in tech and start-up
The quality of the European research base is arguably the
entrepreneurship. Investors such as NJF Capital are seizing
principal reason for the current boom in Eurocorns.
the opportunity to work with these exciting new disruptors.
Europe is traditionally a centre for education and it's in these hubs of knowledge and learning that Europe excels.
We often think of unicorn companies as a Silicon Valley phenomenon, but in 2018 alone, 17 European companies
NJF Capital has been investing in European technology
achieved unicorn status, six of which were in the UK.
companies since 2011. Founder and CEO Nicole Junkermann comments: "In the UK alone, you have three
Indeed, earlier this summer, London Tech Week celebrated
out of the top 10 universities in the world. There is unrivalled
the UK achieving 17 unicorns all of its own. According to data
excellence, particularly in the fields of biotech and life
from Tech Nation and Dealroom, this places the UK third in
sciences, and this is an incredibly valuable knowledge base."
world rankings for this milestone, just behind the US and China.
A combination of start-up-friendly regs in Europe and a move towards acquisitions and consolidations has helped create a
"This is incredibly exciting for European investors," says NJF
more buoyant, entrepreneurial culture supportive to tech
Capital founder Nicole Junkermann. "Europe's tech
start-ups, with Fintech and Medtech two of the major
ecosystem is now firmly established and can only continue
success stories to have emerged from this intellectual and
to grow and evolve from here on in."
research infrastructure over recent years. PAGE 044
THE HIKE MAGAZINE
Junkermann believes that Europe's outstanding knowledge base "will remain a competitive advantage for many years to come." Euro tech start-ups can bring value for investors Debate over the state of the exit environment in Europe compared to the US, particularly around IPOs, has been overhyped. Europe undoubtedly delivers value for investors, with the listing of Adyen in Amsterdam being just one recent successful example. And additionally, a vibrant exit market on both sides of the Atlantic will help European companies, such as the recent acquisition of Swedish firm iZettle by the US' Paypal for $2.2bn. As Junkermann says, "Europe undoubtedly delivers value for investors. Speaking from personal experience helping to grow a unicorn business is tremendously energising for the investor. NJF Capital's current portfolio includes many businesses that have the potential to reach the $1 billion status, including European businesses such as Blockchain and Owkin." Cryptocurrency company Blockchain is based in the UK with other investors such as Jeremy Liew at Lightspeed and Tom Hulme at Google Ventures, and Owkin is a French-American biotech company, with other investors such as Adam Ghobarah at Google Ventures, Alex Pasteur at F Prime and Bruno Raillard at Frst. Both businesses are fast-moving and leading-edge, and Junkermann's backing will help them to expand and develop. Founded by Nicole Junkermann, an entrepreneur and investor who has previously raised her own private equity fund, NJF Capital brings a deep understanding of business strategy, entrepreneurial know-how and a wide network across business and government. With a track record of scaling companies and devising effective strategies, we help the entrepreneurs in our portfolio on their growth journeys. Website: www.njfcapital.com PAGE 045
NANOX GETS $1 BILLION FUNDING TO SECURE EARLY-DETECTION MEDICAL IMAGING FOR ALL nanox introduces its global "1x1x1 Initiative," which aims
nanox has achieved the first breakthrough in X-ray source
for at least one medical screening for each person on the
technology since its discovery in 1895. This technology
planet each year.
enables the creation of much smaller and cheaper devices that can be mass-deployed globally for total accessibility
- US$1billion+ invested in an under-the-radar, revolutionary
even in the most remote corners of the earth.
technology. - nanox has achieved a novel 5D X-ray source to reduce
"I believe nanox is one of the most influential companies of
overall system costs from millions of dollars to mere
our era. Their novel X-ray source can help save millions of
thousands while also reducing radiation exposure.
lives each year and over a trillion US dollars in cancer-
- 15+ years of Japanese/Israeli joint development.
associated costs," said Kim Il-ung,Â President of SK Telecom's
- Joined by world-leading healthcare players for global
Hong Kong office. "SK Telecom has great interest in
deployment of early detection systems.
disruptive healthcare initiatives, and the nanox vision of democratizing medical screening to make it accessible and
"We call upon all major medical manufacturers to join us in
affordable is exactly where we believe we can make a real
this initiative. Talk to us so we can persuade you that this is
difference in improving the quality of human life. This is a
not hype, but a game-changer for all humanity."
strategic investment for us and we look forward to working
- Ran Poliakine, nanox Founder.
with nanox to shape the future of global digital healthcare." PAGE 046
THE HIKE MAGAZINE
Medical Imaging For All
"The nanox/SK Telecom agreement is one of the best examples of the power of cooperation between Korean and Israeli companies," said Chaim Choshen, Israel's Ambassador to the Republic of Korea. "I believe this particular deal could influence healthcare globally and I am happy to witness both companies joining forces for a better future for us all." The problem Medical imaging systems like CT scanners can cost a whopping US$3 million even before taking into account the high maintenance costs – a price well outside the reach of most healthcare systems. Most countries can only afford a few of these systems to service their entire population. One of the key reasons behind the high cost is the underlying X-ray source technology, which has literally remained unchanged since its discovery in 1895. The use of thermionic (heat-based) electron streams to generate the X-rays requires reaching a temperature of 2,000 degrees, which in turn requires extremely complex cooling systems and mechanics to deal with the excessive heat. The vast majority of the cost goes to addressing these issues; an X-ray tube alone can cost anywhere between US$150,000 to US$500,000. The solution nanox has developed a new 5D X-ray source based on advanced nano MEMS technology that creates a stable X-ray stream at low voltage and at a fraction of the cost. For comparison, instead of a heated filament, nanox uses 100 million nano-cones that produce the electron stream without the use of heat. Moreover, this is a digital X-ray source vs. the legacy analog sources, thus providing even higher functionality and medical benefits, such as: -Higher-quality images - No motion artifacts - Real-time 3D imaging - Multi-spectral layering - Digital sync with treatment tools Most importantly, nanox's source enables a much smaller and cheaper system at a cost of circa US$10,000 per scanner vs. US$3,000,000. Such systems can be deployed globally and help achieve the "1x1x1" goal. "If we manage to reach the 1x1x1 vision, we will be able to help save over 8 million people every year with regard to cancer alone," said Ran Poliakine, Founder of nanox. "This is the true democratization of healthcare, in which medical imaging will be accessible to all people globally and will cease to be the PAGE 047
theÂ privilege of the few. We estimate that the economic
savings will reach over US$1 trillion per year! That is an
Democratizing medical imaging: nanox is an Israeli/Japanese
astonishing amount of money, which can now be diverted to
cooperation that has created the world's first commercially
better uses. The implications of our technology are beyond
available 5D non-CNT MEMs-based digital cold cathode X-ray
significant to humanity as a whole."
source with a stationary anode that is usable in real-world applications.
nanox's open-source ecosystem nanox enters the market as a technology provider, co-
developing with an ecosystem of world-leading medical
nanox.vision is the global initiative led by nanox and world-
business partners to maximize value and investments. nanox
leading healthcare players to drive the 1x1x1 vision of at least
is committed to providing its imaging data and knowhow as
one medical screening for each person on the planet each
an open source to all nanox.vision consortium partners. nanox
year. The 1x1x1 Initiative is based on nanox's revolutionary
drives business relationships united in bringing humanity
MEMs X-ray source and encompassing ecosystem of partners
towards the 1x1x1 vision, as nanox believes this cooperative
to provide affordable, early detection for all.
approach allows all stakeholders to capture maximum value.
For more information, please visitÂ www.nanox.vision
Leading industry players are already part of nanox's ecosystem, committed to making medical screenings
About SK TelecomÂ
accessible and affordable for all.
SK Telecom is the largest mobile operator in Korea with nearly 50 percent of the market share. As the pioneer of all
"For far too long, we have been on the defensive side of
generations of mobile networks, the company has launched
healthcare," said Hitoshi Masuya, CTO of nanox. "A 'cure'
the fifth generation (5G) network on December 1, 2018.
means corrective action is taken. If you need one, it is usually
The company is not only leading innovations in the field of
too late. We have decided to focus on the preventive side of
mobile network, but is also creating unprecedented value in
healthcare; making early detection the key to our healthcare
areas such as media, security and commerce.
approach by solving the main inhibitor to X-ray accessibility
In the Fourth Industrial Revolution, SK Telecom will inspire
for the masses was the breakthrough that now makes it all
the world, building a future beyond expectations.
Website: www.sktelecom.com PAGE 048
A LAND FOR BREAKING PRODUCTION RECORDS
PARANA STATE BRAZIL
SAUDI ARABIA FOCUSES ON THE DEVELOPMENT OF FIVE FAST-GROWING, EXPORT-ORIENTED INDUSTRIAL SECTORS
The Saudi government, through its long-term strategy and other initiatives such as Saudi Vision 2030, has enacted diversification of the economy and increasing the manufacturing share to the GDP. The 5 focus sectors are: Automotive, Minerals and Metal Processing, Energy, Plastics and Packaging, Pharma & Biotech. These carefully chosen industries share two main characteristics: firstly, they all use and can make the most of Saudi Arabia's abundant natural resources, raw materials and energy; and secondly, they all have huge potential. Many investors already know about Saudi Arabia's potential: in 2010 Saudi Arabia attracted inward
NATIONAL INDUSTRIAL CLUSTERS DEVELOPMENT PROGRAM (NICDP) OF SAUDI ARABIA SUPPORTS AND HELPS POTENTIAL COMPANIES (INVESTORS) EVALUATING INVESTMENT OPPORTUNITIES.
investment of $32 billion, more than any other country in Middle East-North Africa.By locating your manufacturing operations in Saudi Arabia, we believe you will benefit from excellent financial returns and increased market share in the Arabian Gulf, MENA and Africa.
The Kingdom of Saudi Arabia has long welcomed foreign people to work in the country, for anything from a few days to several years. Expatriates account for around a 35% of Saudi Arabia’s total population. Politically stable, well-ordered and with very little crime, Saudi Arabian society places great emphasis on family life, safety, hospitality and tradition.
Automotive Industry: Several major projects have been
Pharmaceutical Industry: The global pharmaceutical
recently implemented in the Kingdom of Saudi Arabia.
market is headed for $1.3 trillion by 2020 with a projected
In the Eastern Region, Isuzu Motors started operations in
global growth rate of around of 5 % CAGR , moreover, the
late 2012 with a capacity of 25,000 trucks a year by 2020
pharma industry is regarded as a major contributor to the
and a plan to export 40% of its production at its peak
world's knowledge economy. Branded drugs with sales of up
volumes. Three other major global OEMs producing Heavy
to $135 billion expired by the end of 2015, offering
Duty Commercial Vehicles are operating in the Western
pharmaceutical companies opportunities to capitalize on this
Region. They are: Mercedes, Volvo and MAN. The current
market. Moreover, the patent expiry of drugs worth $150
total production of all four OEMs is in the range of 12k and
billion by 2020 will fuel the growth of the global generic drugs
is expected to reach 39k by 2022.In addition, many Tier 2
market. The Saudi Pharma market is looked at as one of the
and Tier 3 suppliers already exist in the Kingdom.
fastest growing markets today with strong export potentials
The major suppliers include Petrochemical Conversion
to serve MENA and other politically unstable areas in the
Company (PCC) for Plastic Injection Molding, Saudi Lamino
region. The Saudi Pharma market is reported approximately
Industries for Windshield Production, Saudi Filter supplying
$6.7 billion in 2016 and expected to grow at a 10% GACR to
Volvo in Sweden, Middle East Batteries Company MEBCO JV
reach $9 billion by 2020.
with Johnson Controls. Other Clusters Minerals Industry: In recent years, Saudi Arabia has
The Kingdom of Saudi Arabia Government has established
witnessed remarkable growth in the production of primary,
the Industrial Clusters program to develop some potential
midstream and downstream mineral and metals products
industries which are the Minerals and Metal processing,
for both local and export markets. Now, Saudi Arabia
Automotive, Solar Energy, Plastics and Packaging and
strives to increase the mining sector contribution to the
recently, Pharmaceutical industry has been added to this list.
national economy as a part of the Kingdom’s 2030 vision.
Industrial Clusters aims to use Saudi Arabia abundant natural
Accordingly, the Industrial Clusters, along with its strategic
resources, raw materials and energy, 27,000 industrial-
partners, is working to expand exploration and mining
subject graduates a year and other advantages to pursue
activities (upstream), primary materials industries
highly focused development.
(midstream), and to develop sustainable and globally competitive value-added semi-finished and finished metal
About Saudi Arabia
industries (downstream) that support the Kingdom’s goals
Covering 2 million km², Saudi Arabia is the largest country in
of diversification and development of advanced industries
the Middle East and the 14th largest country in the world.
such as automotive, aerospace, ship building, machinery &
Saudi Arabia’s size and geology make it rich in minerals, oil,
equipment and others.The Minerals and Metals Cluster is
gas, key raw materials for manufacturing and industrial
currently directing its efforts towards expanding the
development. The Kingdom of Saudi Arabia has a population
aluminum, steel and copper industrial base and developing
of 30 million and a labor force of over 9.7 million.
titanium metal, tantalum, niobium, rare earth elements and quartz / silica industries.
For more information: www.ic.gov.sa PAGE 051
SIEMENS SAUDI ARABIA GROUNDED WITH AN ENDURING PARTNERSHIP The successful relationship between Siemens and Saudi
Two years later came many significant milestones, including
Arabia has historic roots. Werner von Siemens, Siemens
the first phone call in Saudi Arabia’s history by King Saud via
founder, was the first to lead a team that laid telegraphic
the use of Siemens technology, which paved the way for the
cables under the Red Sea; at a time when the region had little
Kingdom’s first telecommunications network installation by
This was followed by the firm’s very first official business
Hub redefines local manufacturing
transaction in the early 1930s, when visionary local
As the Kingdom of Saudi Arabia approaches a new wave of
businessmen imported and subsequently installed power-
industrialization and localization policies under the helm of
generation equipment. It was this initial investment that
Vision 2030, Siemens has also committed to expand and
paved the way for the advanced power infrastructure that is
diversify its local investment. The Siemens Dammam Energy
found today in the Kingdom.
Hub (SDEH), is the company’s flag-ship production facility in Saudi Arabia. The SDEH is the first gas-turbine facility of its
In the 1950s Siemens established some core developments
kind in the country and is the largest in the Middle East.
which truly helped set the stage for its future impact in the
In 2016, the first “Made in KSA” gas turbine was launched.
country. Due to a rapidly growing customer base, by 1952 the
This was a historic milestone, and Siemens took pride in this
company sent its first resident engineer to Saudi Arabia.
turbine being built in Saudi Arabia, for Saudi Arabia and by PAGE 052
Saudi Arabian talent. Siemens also received the Saudi Water
software for universities aiming to build up the most
and Electricity Forum (SWEF) Award, which further
advanced local digital capabilities, and to prepare Saudi
emphasizes the strength of its relationship with local partners.
Arabian students and future leaders for the “fourth” industrial
With the capacity to build up to 10 turbines annually, the
revolution. This industrial software includes digital twinning
SDEH showcases the firm’s use of cutting-edge technologies
capabilities for integrated design, engineering and
and the development of local capabilities to produce highly
manufacturing. It will also facilitate next-level industrial
efficient engineering masterpieces. Siemens is also continuing
research and capacity build-up. Effat University and King Saud
to develop local supply chains, along with its strong
University have already received the software, and it is
commitment to increasing innovation and industrialization in
currently being introduced at other universities.
line with Vision 2030. Siemens has also been working with multiple institutes, Training initiatives and knowledge transfer
including the Siemens developed a vocational training
The SDEH also highlights Siemens’ continuously expanding
concept modeled around the German dual system, in
local footprint in Saudi Arabia. The project, however, also
partnership with Colleges of Excellence. The concept was
required addressing some of the challenges that comes along
implemented in October 2017 with the intake of the first local
with staffing and transferring knowledge to a facility of such
students starting their Rail Technician training at the Saudi
Railway Polytechnic in Qassim. In addition, the dual approach is being implemented with Business Administration trainees
At the beginning of the project, Siemens launched a massive
at Siemens sites across the Kingdom, the majority of whom
training program for local talent, in partnership with the Saudi
are local female talent.
Petroleum Services Polytechnic (SPSP), an initiative overseen by the Ministry of Energy, Industry and Mineral Resources and
A local impact
the Technical and Vocational Training Corporation – the
In terms of helping achieve Vision 2030 goals, Siemens has
government’s vocational training arm. As a result, by the end
taken a very unique approach. By co-creating and working
of 2016, newly qualified Saudi Arabian gas-turbine experts
with a number of public and private customers, including
built the first of six F-class gas turbines for Saudi Aramco’s
Saudi Aramco, Saudi Electricity Company and the Saline
integrated gasification combined-cycle power plant in Jazan.
Water Conversion Corporation, Siemens was able to identify crucial issues for the Kingdom. Despite being a foreign
Besides those related to the SDEH, Siemens is also investing in
investor, Siemens took pride in considering itself as having the
its partnerships with academic institutions. The company
same characteristics as if it was inherently a Saudi company.
recently announced a €100m investment in industrial
This mentality is what helped the company to achieve PAGE 053
significant results in terms of economic growth, development
CEO Interview - Arja Talakar, CEO, Siemens Saudi Arabia
of human capital, environmental protection, quality of life and overall transformation of the society.
How would you describe Siemens’ overall experience as foreign investor since its Saudi market entry?
By actively electrifying, automating, digitizing and
Since the installation of Siemens power-generation
innovating, Siemens’ investments will have a direct or
equipment in the Kingdom and our partnership with E.A.
indirect impact on several key Vision 2030 targets such as:
Juffali & Brothers, we have been here, every step of the way,
- Increase women’s participation in the workforce from 22% to
co-creating with Saudi Arabia. To be honest, it doesn’t feel as
if we are “foreign investors” in Saudi Arabia. We consider
- Increase small and medium-sized enterprises’ (SMEs)
Saudi Arabia home. From the outset, we have worked directly
contribution to GDP from 20% to 35%.
with a host of public and private customers and have
- Increase foreign direct investment from 3.8% to 5.7% of GDP.
developed a great partnership with the Kingdom, whether in
- Increase the private sector’s contribution from 40% to 65%
terms of expanding our presence, focusing on localization,
setting up our Siemens Dammam Energy Hub and partnering
- Lower national unemployment from 11.6% to 7%.
on the path of electrification, automation and increasingly, digitalization.
Vision 2030 is also working towards having three Saudi cities ranked in the top-100 cities in the world. In its “Smart Cities
What challenges has Siemens traditionally faced while
Saudi Arabia” report, Siemens featured a comprehensive
navigating the regulatory environment?
analysis of some specific challenges and technological
Every market has its own challenges and the Saudi market is
opportunities within the main Saudi cities. In the capital city
no exception. However, many of the challenges an investor
of Riyadh, for instance, by equipping Lines 1 and 2 of the
faced – let’s say in the 1990s – were addressed by setting up
Riyadh Metro with energy-efficient and driverless inspiro
SAGIA, the Kingdom’s investment promotion agency. We are
metro trains, Siemens is addressing two key challenges –
going through what is the foundation for an even brighter
unhealthy levels of air pollution and unsafe roads.
Saudi Arabia. Vision 2030 is a great roadmap, which I am confident will succeed and flourish with the right regulatory
The case of Siemens, a company that has established and
environment and investment-friendly policies. We are very
maintained a strong local partnership in the Kingdom, can be
confident in the prosperity and economic development of the
seen as a best practice for modeling profitable relationships
Kingdom. In this context, localization is extremely important
between foreign investors and local stakeholders leading
for investors, not only for creating employment but also for
towards achieving the goals of Vision 2030.
adding economic value through manufacturing and supplychain development. Investment in manufacturing industries
In April 2019, Arja Talakar was appointed CEO of Siemens Oil &
requires a longer-term market view, and localization will be a
Gas. He is based in Houston, Texas, the global headquarters
vital element to ensure sustainable development of the local
for Oil & Gas and its parent operating company, Siemens Gas
industries. We believe that the Kingdom has the potential to
and Power. His 23 years of experience with Siemens provides
become a regional manufacturing hub and an industrial
valuable perspective to the power and oil and gas businesses
heavyweight. Global best practices prove that creating
as energy markets continue to evolve in this transitionary
“champions” in strategic industries through active support is
a better alternative than a project-by-project approach and PAGE 054
that is what the Kingdom is trying to achieve.
universities will pay long-term dividends for the country overall while benefiting the industry in the process.
What’s your perspective on the investment incentives
And, while we think that investment in partnerships with
provided by Saudi Arabia to investors like Siemens?
universities is extremely important, another area that also
For us, the biggest reason to consider investing further in
needs to be focused on is technical and vocational training.
Saudi Arabia is the attractiveness of the market.
For example, Germany is renowned for its dual education
With a solid domestic market and the creation of champions,
system, and together with our partners we developed and
Saudi Arabia is progressing on the path towards becoming an
implemented this in Saudi Arabia.
export-centric nation. Even geographically, Saudi Arabia is ideally located, with easy access to European, Asian and
What approach has Siemens adopted for the training of
African markets. New regulations providing more incentives
for companies willing to invest in the country are coming up,
Once a person joins Siemens, there is a whole range of
and previously strict requirements are being removed.
training options available. Being a company focused on digitalization means new technologies and information pours
Given the growth of local value chains and SME
in everyday and it is imperative that we stay up to date.
ecosystems, what opportunities do you see for
We have a huge Siemens knowledge pool to tap into.
collaboration with prospective investors?
We also conduct a lot of local and international trainings to
Under Saudi Vision 2030, the Kingdom plans to raise the
support the development and growth of our employees.
contribution of SMEs from currently 20% of GDP to 35%.
Additionally, all the vocational trainings and university
It is true that a strong SME value chain is a great enabler, not
programs that we work on through partnerships contribute to
just for overall economic development, but also for large-
skill development. Developing the right skill set is one of the
scale industries. We believe that the strong value chain of
first and most important steps for sustainable development.
SMEs is essential for developing the industry in Saudi Arabia. Therefore, more than half of our procurement value goes
What strategic recommendations would you give to
towards SMEs. We are moving in the right direction and our
local SME supplier base is growing.
Vision 2030 and the push to diversify the economy will create immense opportunities. This is the time for investors to come
In what areas can collaboration between investors and
in and I think there is no better blueprint to guide them
academia strengthen local R&D capabilities?
towards potential growth sectors than the Vision 2030.
We believe that partnership between academia and industry is
Entertainment and tourism is set to grow, the service sectors
imperative for research and capacity build-up. Siemens is very
are going to develop further and, of course, technology and
mindful of the fact that investing in our partnership with
industrialization will be at the heart of the economy. PAGE 055
DENSO, CREATOR OF THE QR CODE, REFLECTS ON THE TECHNOLOGY 25 YEARS AFTER INVENTION
A quarter century after its creation, DENSO's invention has evolved to become an essential technology across the globe. DENSO, the world's second largest mobility supplier, is celebrating the 25th anniversary of its invention of the QR code. The technology, a machine-readable code used for storing information, was created by DENSO-subsidiary DENSO WAVE with the goal of achieving more detailed production management at manufacturing sites. To commemorate the anniversary, DENSO WAVE has launched a new website that traces the history, future and benefits of this now-ubiquitous technology. In the 1980s, barcodes were widely used for manufacturing and distribution processes. However, within a decade, an industry shift from mass manufacturing to more flexible production required a stronger barcode. A two-person DENSO development team was tasked with the challenge, needing to create a code that could store more information, be read at a higher speed and fit on smaller surfaces. To accomplish this, the team spent nearly two years creating a design with a specific position detection pattern ratio – 1:1:3:1:1. These codes were two dimensional and could hold approximately 7,000 numerals, allowing them to be read more than 10 times faster than a traditional barcode. Though QR codes were originally developed to create efficiencies in manufacturing processes, DENSO encouraged its use more broadly by making the technology license-free. Since its invention, the popularity of QR codes has spread to encompass numerous industries, including: hospitality and tourism, education, and real estate. The codes have contributed to the growth of cashless payment systems, are used to trace foods, pharmaceuticals and other merchandise, and are regularly seen on event tickets and advertisements. "Throughout its development, the QR code represented the type of innovation that DENSO strives for in its efforts to shape the future of mobility," said Kenichiro Ito, senior PAGE 056
executive officer for DENSO Corporation and chief executive officer of DENSO's North American Headquarters. "Twenty-five years later we can clearly see its vast and impactful results. It is this sort of longterm vision that we look to emulate today to not only improve upon what has already been built, but to create new products and services that will inspire a better future." Since launching the QR code in 1994, DENSO WAVE has further advanced QR technology to meet social needs with its iQR code, its SQRC code and its Q-revo protection service. Website: www.denso-wave.com/en/system/qr About DENSO DENSO is a $48.3 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its 221 facilities in 35 countries to produce thermal, powertrain, mobility, electrification, & electronic systems, to create jobs that directly change how the world moves. The company's 170,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 9.3 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2019. Website: www.denso.com/global In North America, DENSO employs 27,000+ engineers, researchers and skilled workers across 31 sites in the U.S, Canada and Mexico. In the United States alone, DENSO employs 17,000+ employees across 13 states and 25 sites. Headquartered in Southfield, Michigan, in fiscal year ending March 31, 2019, DENSO in North America generated $10.9 billion in consolidated sales. Join us, and craft not only how the world moves, but also your career. Website: www.denso.com/us-ca
MEXICHEM UNVEILS TRANSFORMATION, CHANGES NAME TO ORBIA Positioned to help the world take shape and create a more livable, lovable planet for everyone. Innovative, first-of-its-kind ImpactMark to take place of
cities and homes, connect communities around the world to
traditional logo, reflecting ever-changing, dynamic
global data infrastructure, and expand access to health and
representation of actual impact on people, planet, and profit.
wellness with advanced materials through innovation and customer-centricity, elevating the company's ongoing
Mexichem, S.A.B. de C.V. a global leader in specialty products
commitment to improving quality of life for people and
and innovative solutions, has reached the next milestone in its
communities around the world. Chemicals, mining, and
human-centered transformation, unveiling its new corporate
manufacturing will continue to be important parts of Orbia's
name, Orbia, and its commitment to purpose: to advance life
overall business, but the name change reflects a broader,
around the world. Alongside the new purpose-driven
more inclusive expression of the company's global impact.
approach, Orbia introduces an innovative new logo concept, the ImpactMark. This reflects a year-long process to transform
Orbia is also creating the ImpactMark - an ever-changing
the company into a future-fit, human-centered organization,
measure of the company's adherence to long-term financial
while elevating the work its five global business groups are
health, environmental sustainability, and social progress.
doing to address the challenges that define how people live and thrive today and in the future.
Plotted on a circular grid, the ImpactMark measures progress against six factors related to people, planet, and profit.
Orbia's new name and long-term business strategy position
It will be updated each year to reflect the latest data,
the company to respond to global opportunities to ensure
demonstrating progress toward the company's ambitious
food security, reduce water scarcity, reinvent the future of
goals over time. PAGE 058
"Orbia is taking a long-term approach to expressing the growth of our company against our impact on people, planet, and profit," Daniel Martínez-Valle, CEO of Orbia.
"Orbia is taking a long-term approach to expressing the
more than 40 countries, selling in more than 110 countries,
growth of our company against our impact on people, planet,
and employing more than 22,000 people worldwide.
and profit," said Daniel Martínez-Valle, CEO of Orbia. "Our strategy focuses on organic growth, driven by a strong
The company's multiple headquarters – in Mexico City,
customer focus, and maximizing ROIC. We believe that as we
Boston, Amsterdam, and Tel Aviv – reflect the global nature of
continue to evolve our company, we will create incredible
the customers it serves and challenges it addresses.
value for our investors, our customers, and the communities around us while inspiring others to do the same."
This transition, which incorporates a new name, website, visual brand, and dynamic ImpactMark in lieu of a static logo is
Orbia's decades-long history began as a leading producer of
effective immediately and will be implemented across the
commodities, and through investment and strategic growth
company's products and services throughout the 2019
has become a global leader in polymers, materials, and
calendar year. Among select business groups, certain
infrastructure. Today, Orbia is a global company operating in
commercial brands will be updating as well. PAGE 059
THE HIKE MAGAZINE
Orbia - A Purpose-Led Company
About Orbia Orbia is a community of companies bound together by a shared purpose: to advance life around the world. Orbia's business groups have a collective focus on insuring food security, reducing water scarcity, reinventing the future of cities and homes, connecting communities to data infrastructure, and expanding access to health and wellness with advanced materials. The business groups include Precision Agriculture, Building and Infrastructure, Fluor, Polymer Solutions, and Data Communications, which collectively pursue human centric solutions to global challenges. A global leader in specialty products and innovative solutions across multiple sectors of industry and commerce, from agriculture and infrastructure to telecommunications, healthcare and more, Orbia has commercial activities in more than 100 countries and operations in 41, with global headquarters in Mexico City, Boston, Amsterdam, and Tel Aviv. Our Commitment to the UN Sustainable Development Goals One of the ways in which we mark our commitment to global impact is through the United Nations Sustainable Development Goals, which function as actionable targets to achieve by 2030. With these goals as our North Star, we look for creative ways to bring resources, cultures, and ideas together to promote sustainability and regenerative practices.These goals help ensure we’re not just striving to be the best in the world, but the best for the world. Brand Story "Orb” is the latin word for spherical globe. “Bia” is a word from Greek mythology for the personification of force. Orbia, the combination of the two, could be viewed as “a force for the world.” More importantly, than its literal definition, Orbia’s greatest source of meaning comes from our company’s impact on the world. Orbia is a multilayered organization with a widereaching ripple of impact - constantly pushing forward, constantly reassessing, constantly striving for, but never reaching, the total fulfillment of our purpose. Our brand is as alive as we are. It is a regenerative identity that reflects our commitment to transparency, impact, and constant evolution. For more information: www.orbia.com PAGE 060
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XAG announced that its Unmanned Aerial System (UAS) crop protection services have covered an accumulated farmland of 20 million hectares, amid a large-scale cotton defoliation operation in Xinjiang, China.
AGRI-TECH GIANT XAG PROTECTS 20-MILLIONHECTARE OF FARMLANDS WITH CROP SPRAYING DRONES
Among the first to introduce fully autonomous drones to
increasing market demands from local cotton growers.
transform the way crops are grown, XAG has become one of
Up to mid-September, XAG's regional service record in
the world's largest agriculture drone manufacturers and
Xinjiang alone has reached approximately 4.8 million
service providers. Its crop spraying drones have operated in
hectares. Compared to the same period of last year, 49%
38 countries including South Korea, Japan, Australia,
more cotton fields have been precisely sprayed and
Vietnam, Brazil, Mexico, Zambia, etc.
effectively defoliated by XAG's agriculture drones. Xinjiang accounts for 80% of the nation's cotton
According to XAG Flight Information System (XFIS), up
production, where 2.6 million hectares of cotton have been
to September 11, 2019, the company's total drone service
planted this year. To ensure a high-quality machine harvest,
record has exceeded 20 million hectares, which is 400%
farmers need to spray defoliant to remove all the cotton
higher than that of a year ago. Particularly, this August, XAG
leaves. Compared with hand sprayers or tractors, XAG's
conducted a record-breaking, single-day operation on as
crop spraying drones precisely apply demanded dosage of
many as 140,000 hectares of farmlands, marking a
defoliant to reduce cotton impurities and improve fiber
milestone in the global UAS crop protection industry.
quality, while minimising the use of chemicals and agricultural water. The UAS precision spraying technology is
The 20-million-hectare service record indicates XAG's
making cotton production more in line with
enriched experience in drone-based crop protection as well
environmentally sustainable standards.
as farmers' strengthened trust on the new technology. The precision spraying solutions have been applied to
Solving Local Problems on a Global Scale
sustainably safeguard a wide range of crops, including
Founded in 2007, XAG is a Chinese-based agriculture
maize, cotton, rice, wheat and fruit trees, from harmful
technology company and one of the world's largest
weeds and pest diseases.
industrial UAS manufacturers. Through empowering farmers with precision technologies such as drones,
Closing Yield Gap for Maize and Cotton
artificial intelligence (AI) and Internet-of-Things (IoT), XAG
In a series of recent drone attacks on the 'crop devouring'
has been committed to improving the productivity, quality
fall armyworm, XAG has demonstrated that its aerial
and sustainability of agricultural production. Currently, it
spraying solutions are highly effective in controlling the
has established global partnerships with industry leaders
spread of these prolific, fast-spreading pests on maize
and research institutions, such as Bayer, Alibaba, Huawei,
fields. This April, XAG teamed up with Bayer Crop Science to
Harper Adams University and Sydney University, to
launch a joint emergency control operation in China's
promote digital farming and enhance food safety. Having
Guangxi Province, where a swarm of spraying drones were
transformed crop protection approach on 20 million
deployed to kill the pests with a larval mortality rate of 98%.
hectares of lands, XAG's smart agriculture solutions have
Following the defeat over fall armyworm, XAG has initiated
been introduced into 38 overseas markets and adapted to
a large-scale cotton defoliation operation 'Take off for
the local agricultural landscape, such as bee pollination and
Harvest Time' in China for the third consecutive year. Over
weed control in Australia, the fall armyworm plague
1000 professional crop protection teams with an estimated
in Zambia and the aging rural population in Japan.
3000 sets of P Series Plant Protection UASs have gathered in Xinjiang Uygur Autonomous Region to meet the ever-
Discover more about XAG: www.xa.com
SAFEHAVEN.COM PRESENTS THE 5 TECH COMPANIES TO WATCH IN 2020
The US digital advertising industry has officially crossed the $100-billion mark, making it bigger than TV, radio and print media advertising. As this growth continues, a remarkable transformation is taking place within the industry, with the massive Google-Facebook advertising duopoly facing an existential challenge. Mentioned in this commentary includes: Amazon.com, Inc., Verizon Communications Inc., Yelp Inc., Snap Inc., Alibaba Group Holding Limited.
"THE FUTURE OF PUBLISHING IS DESIGNED TO BYPASS THE SO-CALLED DIGITAL GIANTS."
eMarketer is forecasting that the industry will top $170B
display highly targeted ads to its 2.3B users. As a result,
by 2021. And with Google and Facebook currently
nearly 50 percent of online product searches are
hogging 60 percent of the market, American publishers
conducted on Amazon's website. Amazon is also pushing
and other media outlets are now fighting back. Google
hard into mobile video ads--a direct attack on Google. It's
made $4.7 billion in revenue from news content in 2018,
even allowing brands to track traffic from Facebook in its
while the entire news industry together only netted $5.1
latest push to cozy up to big marketers. With Amazon's
billion. That's over 2,000 news publishers combined.
high-margin cloud business, AWS, in the pink of health, Amazon certainly has the wherewithal to take on the
Publishers everywhere are struggling. They're simply not
digital ad giants head-on. AMZN stock has climbed 18.3
growing at all. They're merely surviving. And it's all
percent in the year-to-date and 420 percent over the past
because of the mountains of first-party data that they're
five years thus making it a bit pricey. But with the digital
not collecting because they don't have a platform to
ad gravy train served up, this stock still looks like a buy.
monetize it. They're under immense pressure to grow ad revenues, yet they are beholden to the likes of Google.
#2 Harnassing The Power Of Data The only way to really take on the big guns is to attack
And while Google and Facebook are facing plenty of
from all sides. And that's exactly what Frankly Inc. is
opposition, including being called before Congress,
doing. Frankly a data-hungry content management
publishers won't wait for some legal loophole to fix all of
company that reaches 100 million people and 75% of
American households. It's entered the fray with a data solution that could give the biggest Western publishers
Their survival depends on the quiet (until now) rise of new
the tools they need for digital advertising independence -
content management and data-collection platforms that
with a ton of upside to boot.Frankly offers broadcasters,
can rewrite the rules of who gets rich off of advertising.
media companies and publishers a platform for managing
The future of publishing is designed to bypass the so-
and monetizing all of their content and collecting
called digital giants, but in the meantime, there are also
targeted data from each of their users. Right now, it is the
some other giant players encroaching on the digital ad
only company of its kind out there, and some very big
names - including CNN and Vice - are already customers. Frankly aims to shift the percentage of digital ad dollars
Here are 6 trends that could loosen Google's hegemony
by slipping in through the back door of this lucrative
and re-write the advertising industry playbook:
market, through the biggest mainstream publishers. Google doesn't even produce any news, yet it's raking in
#1 Leveraging Website Real Estate
all the revenues. That's a tough pill for publishers to
A few years ago, trying to claw respectable market share
swallow. Frankly's answer? To offer publishers all the
from the industry heavyweights seemed like a really long
tools they need not only to create their ad revenue, but
shot. Yet, Amazon is now on course to claim $10B, or
also to follow the upside with massive, first-party data
nearly nine percent, of ad dollars in 2019 with Pivotal
collection that, when you add it up, is worth about $175
Research predicting a $38B haul for the company in
per person. That's a gold mine for publishers who barely
2023.Amazon seems to be hitting all the right buttons.
stay afloat while Google gets rich on their content.
The retail giant understands how Google, Microsoft, and
Are publishers desperate enough to take on Google?
Apple leverage advertising. They are just doing it in more
You can bet on it. That's why Newsweek just signed a
aggressive, more profitable ways.The giant online retailer
deal with Frankly that's designed to help the news major
has perfected the art of leveraging website real estate to
turn the tables. But it's just as big a deal for Frankly PAGE 065
Safehaven.com because it means that Frankly will be running all the information capture operations on Newsweek and doing all of Newsweek's ad sales. It will grow Newsweek's ad revenue by tens of millions of dollars, which all goes through Frankly in the end. For Frankly, this is a $50M, multi-year service agreement with one of the biggest news producers in the world. But it also means first-party data access to Newsweek's 40 million monthly active users. This is a milestone in the industry because it's the first partnership of its kind— ever — and it demonstrates the value of leveraging a fully integrated multimedia platform such as Frankly's. Frankly has 100+ million active users across its network, and it's just signed a $50-million, multi-year deal with giant Newsweek, which will add 40 million more. It also recently hooked CNN and VICE in its deal to acquire Vemba's advanced video technology. For a company with a market cap of only $30 million, harnessing the priceless first-party data of 75% of this country, undervaluation isn't much of a stretch of the imagination until the news flow starts to catch up with the first-data bounty, starting with Newsweek. #3 Strategic Acquisitions Beyond data, some companies are building a warchest of assets through calculated acquisitions. Take Verzion, for instance, in 2017, the company acquired Yahoo and AOL in a bid to create a rival ad sales business to Google and Facebook. Verizon Media (formerly Oath) now houses popular brands such as The Huffington Post, TechCrunch and Yahoo Sports which collectively attract ~210 million monthly users. From a financial viewpoint, the business has not been a resounding success with Verizon declaring a huge $4.6B writedown of its media properties last year--essentially declaring them nearly worthless. Nevertheless, Verizon Media's value proposition remains intact: more transparency and accountability in advertising. By focusing on high quality, professionally produced content and products, Verizon Media has been trying to avoid the same scrutiny faced by its bigger competitors, who struggle to stem the tide of fake news and violent videos. With the Association of National Advertisers estimating that fraudulent, bot-driven traffic costs the industry ~$7B every year, Verizon Media will continue having its takers. #4 Helping Businesses Help Themselves The massive cache of free content in the form of business directories was largely untapped just a few short years ago, but Yelp took the PAGE 066
"Publishers everywhere are struggling. They're simply not growing at all. They're merely surviving. And it's all because of the mountains of first-party data that they're not collecting because they don't have a platform to monetize it. They're under immense pressure to grow ad revenues, yet they are beholden to the likes of Google."
bull by the horns, creating one of the world's largest user-
growth runways considering that comparable messaging
fueled directory platforms on the planet. If there's any
apps like WhatsApp and Instagram (both owned by
media company that learned the hard way just how easy
Facebook) boast 1B users apiece to Snap's 190M. Further,
Google can destroy your business model, it's Yelp.
Snapchat has also shown a willingness to think outside
A couple of years ago, Google arbitrarily changed its
the box with its new augmented reality (AR) advertising
search algorithm leading to Yelp traffic slowing sharply
products. Another quarter or two of demonstrated user
almost overnight. Being a company that generates
growth and SNAP stock might be able to definitively break
majority of its revenue from sale of ads on its Website to
above its 2017 IPO level for the first time.
national brands and local businesses, Yelp's top-line took a heavy hit and the company has been struggling to get
#6 Pure Innovation
back to its glory days. Nevertheless, Yelp remains a
Few companies have truly realized the importance of
popular consumer site especially for restaurant reviews.
technological innovation in this ever-changing market
Beyond that, it has evolved into one of the very few review
like Alibaba has. It offers investors the full package;
sites with a high consumer confidence score. It's quite
exposure to the rapidly developing fintech universe, cloud
likely that over time, the company's clout with consumers
computing and AI space, and even e-commerce and retail.
will help it regain favor with the investing universe.
With operations in over 200 countries, Alibaba's online
If you love a turnaround story, then you might find Yelp an
sales and profits surpassed all U.S. retailers including
interesting value stock especially with the shares trading
Walmart, eBay, and even Amazon. One of Alibaba's most
at a cheap 2x forward revenue.
revolutionary products, however, is AliPay, the third-party mobile payment application that has enjoyed widespread
#5 The Millennial Edge
adoption throughout China. Sporting nearly 900 million
While many companies have focused their attention on
users worldwide, AliPay is the de facto leader in the
older internet users, some have truly embraced the
mobile payment space.
younger generations. And it's paid off. SnapChat stock has been enjoying an annus mirabilis, rallying more than 200
By. Angel Rodriguez
percent at one point this year and more than 50 percent over the past 12 months. Snapchat is another compelling
SOURCE AND DISCLAIMER: www.Safehaven.com is the
turnaround story with two consecutive quarters of user
Source of all content listed above. FN Media Group, LLC
and earnings growth helping to return it to Wall Street's
(FNM), is a third party publisher and news dissemination
good books. What's particularly exciting about this
service provider, which disseminates electronic
company is that it appears to have impressive
information through multiple online media channels. PAGE 067
THE BATTLE FOR DIGITAL AD SPEND IS FIERCER THAN EVER - WHO'S WINNING? Growth remains a top priority for advertisers, and driving
despite well-documented struggles with data privacy,
brand awareness is central to that goal. However, digital
followed closely by display (16%).
marketers face constant challenges - hitting volume targets with paid search, accurate attribution with paid social, and
Instagram and Amazon: Breakout Stars of the Year
leveraging audience data with eCommerce - in their quest to
As brands increase their ad spend on Instagram, everyone is
drive business results through digital advertising.
wondering if this comes at the expense of Facebook ad
That's according to Marin Software's latest State of Digital
dollars. Is Facebook taking money out of its own pockets?
Advertising 2019 report, which canvassed the views of over
Not really. The majority of respondents (67%) say Instagram
450 B2B and B2C digital marketing professionals in the US
spend will come from incremental budget rather than
and the UK to understand their top priorities, challenges, and
transferring from Facebook.
opportunities for 2019.
The past 12 months have been kind to Amazon, with 60% of the responding digital marketing professionals planning to
Paid Search Still Dominates Digital Advertising
increase their Amazon spend over the next year. And, 55% of
The study confirmed that paid search remains the dominant
them started using Amazon because they see it as a
digital ad channel, commanding 39% of the total budget,
significant growth opportunity, whereas one in four are
although the playing field is leveling out. Paid social claimed
looking to increase purchases at the lower end of the funnel.
the second-largest share of advertisers' budgets (18%)
Despite Amazon's progress, the offering is not yet considered PAGE 068
as sophisticated as Facebook or Google - 37% of those
"This year's report shows a shift in advertising spend as
surveyed say the campaign management tools on Amazon are
marketers explore alternative channels and emerging ad
not optimal and 23% say the reporting tools are not as
formats," said Wes MacLaggan, SVP of Marketing at Marin
established as other channels. In addition, 30% of responding
Software. "The digital advertising landscape continues to
advertisers say lack of expertise with Amazon ads is the
evolve, with advertisers struggling to close the skills gap as
primary reason why they are not yet using the platform, so
publishers innovate. At Marin, we're seeing a greater emphasis
there's clearly a significant skills gap to close.
on video and new ad formats like Responsive Search Ads and Shoppable Images to gain mindshare and drive growth.
Trust Is a Must: Google Leads the Pack
The eCommerce landscape is a hotbed of innovation,
Google emerged as the most trusted publisher, with an
presenting retail brands with many opportunities and some
average score of 4.5 out of 5. And, 98% of respondents rated
challenges to navigate."
Google a 4 or 5 on the trust index - Google is the only publisher that didn't receive any 1 or 2 trust ratings.
About Marin Software Marin Software Incorporated's mission is to give advertisers
2019 Ad Innovations
the power to drive higher efficiency and transparency in their
As brands tussle to capture consumer attention, advertisers
paid marketing programs that run on the world's largest
are turning to new ad formats to break through the digital
noise and drive awareness. 84% of respondents who use paid search (SEM) are currently using or planning to use Google's
Marin Software offers a unified SaaS ad management platform
new Responsive Search Ads format. Ad spend on shopping ad
for search, social, and eCommerce advertising. We help digital
formats is also rising fast, with 65% saying their company's
marketers convert precise audiences, improve financial
use of Shoppable Images within search will increase in 2019.
performance, and make better decisions. Headquartered in
Video advertising continues to lead the way in paid social,
San Francisco with offices worldwide, Marin Software's
with 32% of survey respondents reporting that video is the
technology powers marketing campaigns around the globe.
most effective social ad format, followed by image ads (26%), Instagram Stories (23%), and carousel ads (19%).
For more information, please visit www.marinsoftware.com PAGE 069
DEOLEO, PRODUCER OF MARKET LEADING OLIVE OIL BRAND BERTOLLI, SETS OUT SUSTAINABILITY 2.0 PLAN Deoleo, which holds a 10% share of the global market, is
Deoleo, the world's leading olive oil producer, has signed a
leading this change to guarantee the traceability and
historic agreement with some of Spain's leading
quality of Extra Virgin olive oil -- from the olive tree to the
cooperatives that aligns its long-term growth to the
principles of quality and sustainability. The founding members include the Union of Small Farmers (UPA),
By 2023, 80% of all Deoleo olive oil will be 100%
Almaliva Group mills of the Subbética (Córdoba) and
sustainably produced, in line with the United Nations
Viñaoliva. North America CEO and Chief Commercial Officer
Sustainable Development Goals.
Miguel de Jaime said: "With our shared vision and alliance, this agreement is another step in our strategy of integration
Deoleo has signed milestone agreements at its
with production to create value for all the members of the
headquarters in Spain with the Almaliva Group of mills of
the Subbética (Córdoba), the Union of Small Farmers (UPA) and Viñaoliva (Badajoz).
"The current olive oil model is not sustainable and prioritizes quantity over quality. We know that adopting a
News Source: CSRLeader.com
new model is a long-term project, but it is fundamental to PAGE 070
HIKE MAGAZINE Sustainability -THE Olive Oil Industry
transforming the sector with a new structure that focuses on quality while protecting the environment and natural resources,Â preserving biodiversity, respecting labor practices and promoting local communities. We will continue to encourage industry-wide collaboration to raise quality in the sector." Deoleo is currently implementing education and training programs for farmers and olive oil mills. In addition, its program partners are forward-thinking in their approach to successfully safeguarding native varietals, promoting early harvest and implementing techniques to protect biodiversity in olive groves. Participating olive mills adhere to best protocols related to the environment, quality and sustainability.Â All program participants are audited and certified by an independent third party,Â Intertek. With 128,000 additional hectares of olive groves planted in the last three years and 100,000 hectares converted from traditional to intensive planting, Spain is the world's leading producer and exporter of olive oil by volume. It has produced 1.3 million tons on average in each of the last 10 years. However, due to an increase in supply and devaluation in the value of the product, the industry is in a critical situation. In response, the global olive oil industry has begun a process of comprehensive transformation, and this requires a fresh, more sustainable business model. "The purpose of securing this supply chain is to deliver to the world's consumers the best possible olive oils, obtained through the most sustainable and environmentally respectful methods," Miguel de Jaime said. About Deoleo Deoleo is a Spanish multinational food company and the world's topselling olive oil bottler, with a presence in more than 80 countries on all five continents. It has factories in Spain and Italy and sales offices in 15 countries. Deoleo has leading global brands, such as Bertolli -the best-selling brand in the United States -- and Carapelli and Sasso, as well as the Spanish brands Carbonell, Hojiblanca and Koipe. Website: www.deoleo.com PAGE 071
Kasey Leger, M.D., Seattle Children’s pital
A $50 MILLION INITIATIVE TO FUEL THE NEXT GEN OF CANCER RESEARCH
Blood Cancer Awareness Month in September provides an opportunity to remind the public about the urgent need to support research to find cures, and The Leukemia & Lymphoma Society (LLS) is marking the occasion with a reinvigorated focus on helping children with cancer live better, longer lives. LLS announced that it has more than doubled its funding of research focused specifically on childhood blood cancers, adding 20 new research grants valued at more than $13.8 million to its research portfolio in 2019. With
THE LEUKEMIA & LYMPHOMA SOCIETY DOUBLES ITS FUNDING OF PEDIATRIC CANCER RESEARCH GRANTS, PART OF BOLD EFFORT TO CHANGE THE COURSE OF TREATMENT FOR CHILDREN.
these new grants, LLS now has committed more than $25 million over a five-year period to change fundamentally how children with blood cancers are treated. Further, LLS also supports grants that are relevant to adolescent and young adult cancer patients. The new pediatric grants are part of The LLS Children's PAGE 072
Soheil Meshinchi, M.D., Fred Hutchinson Cancer Research Center
Initiative, a $50 million comprehensive attack on children's
As we now understand more fully the molecular basis of these
cancer from every angle, from new research investment to
leukemias, and have new technologies and an arsenal of
advance novel therapies and bolster clinical trials, to
molecularly targeted drugs and novel immunotherapies for
enhanced services and support for children and their families,
blood cancers, the stage is set to make significant progress for
to renewed policy efforts. LLS is also planning an
children with these diseases.
unprecedented global precision medicine clinical trial for children with acute leukemia as part of the initiative.
Since its founding 70 years ago, LLS, the world's largest nonprofit dedicated to blood cancer research and patient
The Urgent Need
services, has invested nearly $1.3 billion in cancer research,
The two most common leukemias in children are acute
resulting in game-changing advances. The new pediatric
lymphoblastic leukemia (ALL) and acute myeloid leukemia
cancer grants announced today are part of a larger $44 million
(AML), where the five-year survival rates are approximately 90
comprehensive package of new grants targeting all the blood
percent and 60 percent, respectively. While significant
cancers - leukemia, lymphoma, myeloma and other rare blood
progress has evolved in the treatment of ALL over the 70 years
cancers – that afflict both children and adults. In all, LLS now
since LLS was founded, advances in treating AML are more
is funding more than 292 research projects around the world,
recent, after many decades with little change. This means that
a $179 million investment propelling innovations in immuno-
approximately 700 children will die of leukemias in the United
therapy and precision medicine.
States every year. Many of the children who do survive these blood cancers experience long-term complications, typically
"September is Blood Cancer Awareness Month, and it is also
from treatments they receive. Further, while scores of targeted
Childhood Cancer Awareness Month, making this an
therapies have been approved for adult cancer patients, only
important time to talk about the need to take a bold new
four cancer treatments have been approved for first use in
approach to helping children with cancer," said Gwen Nichols,
children since the 1980s.
M.D., LLS chief medical officer. "Children are not little adults. PAGE 073
THE HIKE MAGAZINE
The Leukemia & Lymphoma Society They need better, less toxic treatments designed just for them. Our goal is a wholesale shift in the standard of care for pediatric patients, moving from toxic chemotherapies that leave survivors with lifelong health challenges, to effective, safe treatments that target cancer precisely, without harming the rest of the child's body." Among the new pediatric research grants are: A project to improve young patients' quality of lifeToxic chemotherapies frequently cause long-term side effects. Kasey Leger, M.D., Seattle Children's Hospital, is trying to help prevent children from suffering heart damage due to treatment with chemotherapy. New immunotherapeutic approaches for children with blood cancers Several of the researchers, including Terry Fry, M.D., University of Colorado, Soheil Meshinchi, M.D., Fred Hutchinson Cancer Research Center, and Ryotaro Nakamura, M.D., City of Hope, are all developing next-generation chimeric antigen receptor (CAR) Tcell immunotherapy, a revolutionary approach that reprograms a patient's T cells to find and kill cancer cells. CAR-T is approved to treat children with acute lymphoblastic leukemia but these researchers are testing new approaches to make it even more effective for more children with acute leukemias. Meshinchi is also developing other approaches to harness the immune system, including a treatment called bi-specific T-cell engagers and another employing antibodies. Jatinder Lamba, M.D., University of Florida, is investigating personalized antibody treatments targeting CD33, a protein commonly expressed on the surface of leukemia cells. He is focused on identifying biomarkers that will predict which children with acute myeloid leukemia will respond to agents that target CD33. Addressing high-risk forms of acute leukemia with very poor prognoses Robert Albero Gallego, M.D., of Columbia University, and Iannis Aifantis, M.D., of New York University, both received funding to tackle T-cell acute lymphoblastic leukemia, which is a devastating diagnosis for children. Another diagnosis with very poor outcomes for children is called CRLF2-rearranged ALL.Charles Mullighan, MS.c, M.D., of St Jude Children's' Research Hospital, received funding to develop two novel approaches to treat this disease. One method will use a targeted therapy to degrade and destroy abnormally active proteins in cancer cells, and the other will use the gene editing process called CRISPR to identify which genes are essential for the growth of CRLF2-rearranged leukemic cells. Better monitoring of Hodgkin lymphoma treatment Hodgkin lymphoma is a blood cancer that makes up about 7 percent of the cancers that afflict children, adolescents and young adults under the age of 20. While survival rates for children with Hodgkin lymphoma are quite high, the treatments are harsh and often cause long-term side effects. Davide Rossi, M.D., Ph.D., Foundation for the Institute of Oncology Research in Switzerland, is looking at using liquid biopsy, a highly sensitive test that looks for pieces of DNA from tumor cells circulating in the blood, to improve monitoring of patients early in their treatment. PAGE 074
"We've helped usher in a new era of cancer therapies that centers on giving the right treatment to the right patient at the right time, and we will be relentless until we achieve our goal of eradicating these diseases." - Louis J. DeGennaro, Ph.D., President and CEO of LLS
This minimally invasive test that can be repeated with a
In addition to the clinical trial, LLS PedAL seeks to break
simple blood draw (versus a PET or CAT scan) can help
down silos that prevent researchers from sharing data about
determine early on during therapy if patients who respond
pediatric cancer patients. The PedAL team is working to
well to treatment can receive less chemotherapy, while
consolidate pediatric cancer data from multiple institutions
those more resistant would benefit from higher doses.
into a single data set, establish a common language to define and analyze the data and make that data available to
Generation LLSFounded in 1949 by a grieving couple who
lost their teen-aged son to leukemia, LLS has dedicated its
Gwen Nichols, MD, Chief Medical Officer of The Leukemia &
70th year to the patients, caregivers, survivors, volunteers,
Lymphoma Society, heads a team of preeminent leaders in
healthcare professionals and researchers who share our
pediatric acute leukemia to conceive, develop and
relentless drive to find cancer cures. Whether they have
implement LLS PedAL:E.
benefited from our lifesaving work or contributed to our
Anders Kolb, MD, Nemours Center for Cancer and Blood
successes, they have shared their stories of being part of
Disorders, Co-Chair, PedAL Initiative.
#GenerationLLS – by adding their story to the Generation
Soheil Meshinchi, MD, PhD, Fred Hutchinson Cancer
LLS Family Tree.
Research Center, Target and Biomarker Lead. Todd Cooper, DO, Seattle Children's Hospital, Clinical Trial
"We were founded by a family for families, and we've
remained true to our founders' vision, the belief that
Todd Alonzo, PhD, Children's Oncology Group, Group
cancers are curable," said Louis J. DeGennaro, Ph.D.,
President and CEO of LLS. "We've helped usher in a new era
Kimberly Stegmaier, MD, Dana-Farber Cancer Institute,
of cancer therapies that centers on giving the right
Preclinical Discovery Lead.
treatment to the right patient at the right time, and we will
Samuel L. Volchenboum, MD, PhD, University of
be relentless until we achieve our goal of eradicating these
Chicago, Bioinformatics Lead.
diseases. The LLS Children's Initiative continues our
Laura Di Laurenzio, PhD, The Leukemia & Lymphoma
founders' legacy of helping children and families
Society, Project Leader.
throughout their entire cancer experience."
Julie Guillot, AML Parent and Partnership Outreach Chair.
LLS PedAL: Precision Medicine for Children with
About The Leukemia & Lymphoma Society
The Leukemia & Lymphoma Society® (LLS) is the world's
Through the LLS PedAL master clinical trial, The Leukemia
largest voluntary health agency dedicated to blood cancer.
& Lymphoma Society (LLS) is setting out to change
The LLS mission: Cure leukemia, lymphoma, Hodgkin's
fundamentally how children with pediatric acute leukemia,
disease and myeloma, and improve the quality of life of
including acute myeloid leukemia and other high-risk
patients and their families. LLS funds lifesaving blood cancer
leukemias, are treated. LLS is working with a team of
research around the world, provides free information and
pediatric oncologists to lay the groundwork for a global
support services, and is the voice for all blood cancer patients
precision medicine master clinical trial to match children
seeking access to quality, affordable, coordinated care.
with relapsed acute leukemia to a targeted therapy based
Founded in 1949 and headquartered in Rye Brook, NY, LLS
on the specific abnormalities driving their cancer.
has chapters throughout the United States and Canada.
The goal of the trial is to test multiple targeted therapies simultaneously at up to 200 clinical sites worldwide. LLS
To learn more and support The Leukemia & Lymphoma
anticipates treating the first patient in the summer of 2020.
Society, visit www.LLS.org PAGE 075
THE KALUGA REGION: A SUPERB LOCATION FOR YOUR INVESTMENT IN RUSSIA Kaluga Region is located in the central part of the East
for transit routes between Moscow and the Ukraine, Moldova,
European Plain, in the river basins of the Oka and the Desna.
Romania, Bulgaria and Hungary. By density of general access
The region shares borders with the Troitsk Administrative
railways and motorways, the region is among the top twenty
District of Moscow, Moscow, Tula, Bryansk, Smolensk and
regions of Russia, and it is firmly established among the top
Oryol Regions. From north to south, the territory of the
ten regions with the most advanced telecommunication
region extends over more than 220 km, from 53°30' to 55°30'
networks. The region’s economic geographical position is
northern latitude, and from west to east – for 220 km.
defined also by its proximity to the capitol and industrial centers like Tula and Bryansk.
The region’s territory is crossed by major railway lines – Moscow-Kiev, Donbas-St. Petersburg, and also Syzran-
Kaluga Region is one of the most promising regions of Russia
Vyazma and Michurinsk-Smolensk. These railways are used
to make investments in. The region holds the fifth place in the
both as local and long-distance transit routes between
national rating of investment attractiveness. For several years
Moscow and St. Petersburg and the Ukraine, the Volga
the Kaluga Region has held the leading positions in terms of
Region, Central Chernozem Region and Belarus.
industrial output growth rates.
The region’s territory is also crossed by two major federal
The Kaluga Region Government has created all conditions for
highways (Moscow-Brest and Moscow-Kiev), which are used
successful development of both large-scale production PAGE 076
facilities and industrial SMEs. Investors, operating in the
Kaluga Region cooperates with the leading logistics operators.
region, admit that Kaluga Region investment policy meets the
In 2015 Kaluga International Airport has been commissioned.
highest global standards. The regional legislative and
Ermolino airport is being modernized. Kaluga Region having
regulatory framework guarantees the safety of investments.
vast transit potential gradually becomes the key logistics center of the entire Central Federal District.
108 new production facilities were commissioned in the region between 2006 and 2018. 9 new major plants
WIDE SELECTION OF SIGHTS TO BUILD FACILITIES
were commissioned in the Kaluga Region in 2018. More than
The main product Kaluga Region offers to potential investors
200 projects from around the world are implemented on
is the sites for construction of production facilities in 12
Kaluga Region soil. According to the National Investment
industrial parks and one of two sites of Kaluga Special
Climate Rating of Russian Regions, in 2016 the Kaluga Region
Economic Zone. Each site is land plot prepared for
held the third place.
construction with all relevant utilities, engineering and transport infrastructure. Investors can either lease or buy the
UNIQUE POSITION IN THE VERY CENTER OF THE LARGEST
site. Companies from around the world implement projects in
CONSUMER MARKET OF RUSSIA
the industrial parks and the special economic zone. Kaluga
Kaluga Region is located in the heart of Russia, in the center of
Region is ready to offer different sites meeting individual
the largest Russian consumer market, on the crossing of
requirements of each investor.
transportation routes connecting Russia with all countries of the world. Kaluga Region borders Moscow, Tula, Bryansk,
OPPORTUNITIES FOR COOPERATION WITH KALUGA
Smolensk and Orel regions. Close proximity to Moscow, the
REGION DOMESTIC COMPANIES
largest consumer market and transportation hub in Russia is
Hi-tech industries form the foundation of the Kaluga Region
one of the region’s competitive advantages.
economy. Local companies produce turbine generators, gas turbine engines, railway equipment, radio electronics and
HIGH QUALITY TRANSPORT AND LOGISTICS
optics products, etc. Kaluga Region develops new economy in
an integrated manner applying a cluster model.
Five federal highways cross Kaluga Region’s territory. The
The integration of domestic companies and investors is well
total length of railways is almost 900 km. A number of unique
under way. There are many companies in Kaluga Region ready
projects is being implemented within the framework of the
to cooperate with foreign businesses. There is a number of
region’s transport and logistics cluster. Two multimodal
examples of such a successful cooperation. Local products
transport and logistics centers have been put into operation:
including those manufactured by small businesses meet the
Freight Village Rosva and Freight Village Vorsino.
requirements of the most stringent global standards. PAGE 077
KALUGA REGION GOVERNMENT PROGRESSIVE TEAM
TAX AND CUSTOMS BENEFITS
Individual approach to each project is the main rule Kaluga
Kaluga Region legislation guarantees the safety of business
Region Government applies when working with investors.
investments. All administrative barriers have been eliminated
The region government does its best to avoid situations when
and all procedures associated with business registration, and
a businessman who invested at least one dollar, yen, yuan or
receipt of permits, licenses and approvals have been
euro in Kaluga Region economy regrets about his decision.
simplified. Various tax breaks and customs benefits are
Development institutions have been established to support
provided to all investors irrespective of the amount of
investment projects implemented in Kaluga Region, including
investments and their industry. This includes income and
the Agency for Regional Development of Kaluga Region
property tax breaks. The more business invests in the region
offering free consulting services to investors, and the Kaluga
the more benefits it gets. The largest benefits are provided to
Region Development Corporation offering development
the special economic zone residents. More then 200 projects
from around the world are implemented in the Kaluga Region.
REGION WHERE IT IS NICE TO LIVE
Kaluga Region strives to create favorable conditions so that
Automotive cluster: The cluster includes 3 OEMs (VW, PCMA,
people come to the region not only to work but also to live.
Volvo), 28 auto component manufacturers and Automotive
The region has numerous historical, cultural and natural
Industry Training Center. The automotive industry production
sights. Modern residential premises, roads, hotels, malls, as
facilities in Kaluga employ almost 11,000 people. The degree
well as sports and entertainment facilities are being built
of localization of the most popular models produced in Kaluga
here. Apart from that, the region is to actively develop
has reached 60%. Thus, the OEMs are less dependent of
commercial real estate, hospitality industry infrastructure
components’ supply from abroad. The cluster is in the TOP 3
(hotels and restaurants), power and resource saving projects,
OEMs in Russia.
tourism, education and logistics. Kaluga Region Government invites potential investors willing to work in the afore-
In 2013, the cluster was joined by NLMK Kaluga – a nextgeneration electric arc furnace mill and the largest producer
LABOR RESOURCES HIGH QUALITY AND AVAILABILITY
of rolled steel in the Central Federal District. Other companies
Education is the largest budget items in Kaluga Region.
representing the cluster are AGRISOVGAZ OOO – manufacturer
Kaluga Region Government invested RUR 1 billion just to
of steel and aluminum structures of any complexity, Severstal-
establish the automotive industry training center.
Gonvarri-Kaluga ООО – die cutting plant of a metal blanks
Similar training centers have been established for the
manufacturing center, and others. Implementation of these
pharmaceutical industry, construction industry, agriculture
projects raised national metallurgy to a new level of quality.
and engineering industry. Kaluga Region invites migrants from Russia and abroad to saturate the local labor force market.
Pharmaceutical cluster: www.pharmclusterkaluga.ru/eng
Over 20 million people reside within a 180-km radius from
The cluster includes major international and Russian
Kaluga. This offers additional opportunities to attract labor
pharmaceutical companies, including Hemopharm, Novo
force. Kaluga Region Government has already concluded
Nordisk, Niarmedik, AstraZeneca, STADA CIS, Berlin
cooperation agreements with 33 regions of Russia.
Chemie/Menarini. There are 64 cluster members in total. PAGE 078
Kaluga Pharmaceutical Cluster companies are engaged in pre-
A greenhouse facility located in the special economic zone is a
clinical and clinical trials, development, synthesis and
successful investment project. 100 Robotized Milk Farms
introduction of pharmaceutical substances and radiology
program are being implemented.
pharmaceuticals, production of dosage forms and
Particular attention is paid to development of production
pharmaceutical substances, infusion solutions and parenteral
companies (cheese, fish, mushrooms). 750 farms work in the
feeding products. Pharmaceutical companies operating in
Kaluga Region manufacture over 158 pharmaceutical products. Kaluga Pharmaceutical Cluster was the first Russian
IT cluster: The cluster includes 140 members and employs
cluster to get silver Cluster Excellence certificate.
about 9,500 specialists. Revenue of the cluster participants in
The cluster’s products and services account for about 3%
2017: RUR 17 billion. The list of projects implemented by
share in the Russian market (in certain areas – from 10% to
cluster participants, includes the following: Sfera blocker,
50%). This figure is to reach 10% by 2020.
Secure City pilot zone, Kaluga Region data communication network segment for Unified State Examination, medical
Transport and logistics cluster: The cargo turnover in Kaluga
information system for Kaluga Region and Tambov Region, E-
Region has grown by 25.5 times since 2007. The region holds
the 4th place in the Central Federal District in terms of motor roads quality. Two multimodal transport and logistic centers
Nuclear Technology cluster: The cluster was established in
in the region – Rosva Freight Village and Vorsino Freight
2017. It includes major state scientific centers and production
Village – have been built in the region. These are the first
facilities. Its key areas of business: nuclear medicine
projects of such a scale being implemented in Russia.
development, environmental projects (for instance, radiation-
There are no other similar facilities in this country.
related issues), projects related to industrial, aviation and
A beneficial location of the facilities (Vorsino FV, for instance,
nuclear safety, training of personnel for the industry.
is located at the Moscow border), make them strategically important for Russia as a whole. Kaluga region is a participant
Tourism cluster: There are over 4,000 history and culture
of the"New silk road". Export destinations: Vorsino-Dalian-
landmarks in Kaluga Region, 128 hotels. Kvan ski resort,
start of the project in 2016, Vorsino-Shilun-start in 2017.
Yukhnovgrad ethnic hotel, Welna Eco Spa Resort were
Kaluga International Airport was commissioned in 2015.
nominated for Russian Hospitality Awards-2015.
An agreement on reconstruction of Ermolino airport has been
Nikola-Lenivets landscape park held the first place at Russian
Event Awards-2015 in Best Event Tourism Site nomination. Kaluzhski Krai tourism and information center also held the
Agroindustrial cluster: The agroindustrial cluster includes 45
first place in Best Tourism and Information Center
food and processing companies of nine industries.
nomination. PAGE 079
THE HIKE MAGAZINE
Invest in Kaluga, Russia
Aerospace technology cluster: The aerospace cluster was established in 2014 upon initiative of Tekhnologia Scientific and Production Company, Obninsk. The company is a subsidiary of RN-Khimkompozit, a member of Rostekh State-Owned Corporation. The cluster consists of about 20 companies and institutions, including the leading research and development organizations from Kaluga and Obninsk, innovation and technology companies, research and raining centers. 5950 people are employed at the enterprises of the cluster. More than 12 billion rubles – revenue of cluster members at the end of 2017. Building Materials: Major industry companies: Triada-Impex ZAO – manufacturer of specialized cement and polymer-based mixtures, OMYAURAL ZAO – manufacturer of fine-ground marble powder, ICM Glass Kaluga OOO – manufacturer of foam glass gravel, LAMINAM RUS OOO – manufacturer of ultra-thin ceramic tiles. Education: The cluster includes 32 primary and secondary vocational training establishments and 12 higher education institutions, including the Kaluga Branch of the N.E. Bauman Moscow State Technical University, the Obninsk Institute for Nuclear Power Engineering — branch of the National Research Nuclear University MEPhI, the K.E. Tsiolkovsky Kaluga State University. Training is provided in 80 various directions that are aligned with current demands of the labor market. In 2010, Kaluga Region introduced the system of dual training that is implemented in collaboration with Volkswagen Group Rus and PCMA Rus. SUCCESS STORIES> 1) VOLKSWAGEN GROUP RUS (GERMANY) — MANUFACTURING OF PASSENGER CARS AND COMBUSTION ENGINES. 2) STORA ENSO PACKAGING BB (FINLAND) — PRODUCTION OF CORRUGATED CARDBOARD AND PACKAGING MATERIALS. 3) NESTLÉ PURINA PETCARE (AUSTRIA) — DRY AND WET PET FOOD. 4) MACO FURNITURE (AUSTRIA) — FIXTURES FOR WINDOWS. 5) HEMOFARM (GERMANY) — PRODUCTION OF FINISHED PHARMACEUTICAL PRODUCTS. 6) SAMSUNG ELECTRONICS RUS KALUGA (SOUTH KOREA) — MANUFACTURING OF TV SETS AND MONITORS. 7) LOTTE CONFECTIONERY RUS (SOUTH KOREA) — CONFECTIONERY PRODUCTS. 8) PCMA RUS (FRANCE/ JAPAN) — MANUFACTURING OF PASSENGER CARS For more information: www.investkaluga.com PAGE 080
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potential energy savings with features like advanced smart
Humanity's Jimmy & Rosalynn Carter Work Project.
setback, Touch-N-Go® program adjustments, and advanced
Each year, hundreds of volunteers and future homeowners
energy use tracking.
help build a housing community alongside the former President and Mrs. Carter.
"We've been working with Habitat for Humanity for more than two decades, and we're pleased to continue that legacy
This year, the Carter Work Project is being held October 6-
of support by providing home comfort systems for the Carter
11 and will construct 21 affordable homes in the north
Work Project again this year," said Matthew Pine, president,
Nashville neighborhood of Park Preserve. Carrier, a provider
Residential HVAC, Carrier. "Habitat for Humanity constantly
of high-technology heating, air-conditioning and refrigeration
strives to build their homes to be as energy efficient as
solutions, is a part of Carrier, a global provider of innovative
possible, and we're proud to assist them in this pursuit by
heating, ventilating and air conditioning (HVAC), refrigeration,
providing our ultra-efficient Infinity equipment."
fire, security and building automation technologies. Carrier is a unit of United Technologies Corp.
"Habitat is fortunate to have the support of partners like Carrier, who provide much-needed resources for projects of
To support the project, Carrier will donate an Infinity® 16 heat
this scale," said Julie Davis, vice president for corporate and
pump system to each Carter Work Project Home, which will
cause marketing, Habitat for Humanity. "The combined
provide energy-efficient cooling and heating. The system will
efforts of the volunteers, the homeowners and program PAGE 082
THE HIKE MAGAZINE
Carrier + Habitat for Humanity
partners mean that this year's Carter Work Project will help 21 Nashville households build strength, stability and self-reliance through shelter." This is Carrier's second consecutive year supporting the Carter Work Project and in 2018 it provided heating and cooling systems for the neighborhood that was constructed in St. Joseph County, Indiana. For the first time, four of those homes achieved the classification of net zero energy using Infinity heat pumps with Greenspeed® intelligence, meaning they produce as much renewable energy as they consume over the course of a year. Carrier also donated a mix of Infinity® geothermal, ductless system and ducted split systems. Carter Work Project Since 1984, President and Mrs. Carter have traveled around the world with Habitat to build and improve homes. Their time and efforts help to raise awareness of the critical need for affordable home ownership around the world. For 35 years, President and Mrs. Carter have worked alongside more than 103,000 volunteers in 14 countries to help build, renovate or repair 4,331 homes. About Habitat for Humanity Driven by the vision that everyone needs a decent place to live, Habitat for Humanity began in 1976 as a grassroots effort on a community farm in southern Georgia. The Christian housing organization has since grown to become a leading global nonprofit working in local communities across all 50 states in the U.S. and in more than 70 countries. Through shelter, we empower. To learn more, visit www.habitat.org About Carrier Founded by the inventor of modern air conditioning, Carrier is a world leader in high-technology heating, air-conditioning and refrigeration solutions. Carrier experts provide sustainable solutions, integrating energy-efficient products, building controls and energy services for residential, commercial, retail, transport and food service customers. Carrier's HVAC business is a part of Carrier, a leading global provider of innovative HVAC, refrigeration, fire, security and building automation technologies. For more information, visit www.carrier.com PAGE 083
HUBLOT PARTNERS WITH SORAI TO PROTECT THE RHINOCEROS IN AFRICA AND INDIA The watch Manufacture has developed a watch to celebrate this collaboration. Hublot has joined in partnership with Kevin Pietersen and
rhinos, and the majority of poaching incidents take place in
SORAI to protect the rhinoceros, which is facing extinction.
Kruger national park.
The ex-international cricket star, and Brand ambassador, is now able to dedicate himself entirely to a cause very close to
"There are around 28,000 rhinos remaining worldwide, 23
his heart: saving these huge herbivorous mammals, found in
times fewer than there are African elephants! Poaching is
Africa and in Asia, now a matter of urgency for the planet and
one of the main threats they face. Major steps have been
our future generations.
taken by governments to introduce regulations but informing consumers and changing their behaviour remains
Ricardo Guadalupe, CEO of Hublot, was recently in South
a key challenge in the fight against poaching. If Hublot can
Africa to launch this partnership with Kevin Pietersen. To seal
play a role in raising awareness, then I would be delighted."
this collaboration, the watch Manufacture has developed a
â€” Ricardo Guadalupe, CEO of Hublot.
watch which will be unveiled very soon. "Our planet is home to five species of rhinoceros: the Black Hunted for their highly valuable horns, two thirds of species
rhino and the White rhino, which live in Africa, and the
could be lost in our lifetime. To help prevent this, abandoned,
Sumatran, Javan and Indian rhino, which inhabit the tropical
injured, or orphaned baby rhinos are located and cared for by
forests and swamps of Asia. According to the International
teams of specialists actively supported by Kevin Pietersen,
Union for Conservation of Nature, of these five species, the
before being released back into the wild as soon as they are
Black, Javan and Sumatran rhino are now considered
ready. South Africa is home to more than 80% of the world's
'critically endangered,' White rhino are 'nearly threatened' PAGE 084
Hublot + SORAI
and Indian rhino are 'vulnerable.' I am appalled by the brutality they face. There is an urgent need for action, and Hublot's support for this is crucial. By reducing the time it takes to act, we can protect as many rhinos as possible." — Kevin Pietersen, Founder of SORAI. The actions of Kevin Pietersen – SORAI Following his prestigious cricketing career, working in rhino conservation was an obvious move for Kevin Pietersen to make, as he is passionately devoted to this crucial cause. He founded SORAI in 2018 to support the various organisations - comprising rangers, nutritionists, ecologists and other specialists - who strive every day to save, care for, and ensure the complete rehabilitation of every mammal found in Africa and Asia. This global initiative is designed to raise public awareness, to inform and educate to initiate a change in behaviour, and to raise funds to build up the resources and equipment needed for these rhino conservation, monitoring and care activities to continue their essential work. Find out more information: www.sorai.com.au
Hublot The art of Fusion concept in Watchmaking, combining exotic materials in Swiss watches. Unconventional innovation meets traditional watchmaking in Hublot's trendsetting collection of mens and ladies watches. Born out of founder Carlo Croco's desire to create his own watch in the 1970s, luxury Swiss watch brand Hublot (French for porthole) was founded in 1980, and instantly became worldrenowned for its innovative rubber strap - never before seen in the watch industry. Ever since, the brand has continued to pioneer watches with novel cases and materials, calling it 'the art of fusion' in which traditional watchmaking techniques are combined with modern innovation. From its Big Bang range, whose aesthetic set the tone in watch design for years to come, to the Classic Fusion, which exudes classic design using juxtaposed materials, Hublot's ability to set the trends in luxury watches has never been more apparent. Find out more information: www.hublot.com PAGE 085
MEDICON VALLEY: WHY SOUTHERN SWEDEN’S LIFE SCIENCE SECTOR IS BOOMING Is healthcare manufacturing entering a new golden era in
The Lund, Malmo and Copenhagen region is home to no
Scandinavia? A tour of Malmo’s fastest growing companies
fewer than nine world leading life science universities and a
helps fill in the picture.
vibrant research community. As such, it is no surprise that more than 350 companies – from multinationals to innovative
“Silicon Valley and Hollywood may be the world’s best-
start-ups in orphan drugs – have chosen this corner of Europe
known clusters,” wrote the renowned economist Michael E.
as their base for healthcare manufacturing and R&D. What is
Porter back in 1998, in his groundbreaking study Cluster’s
more, on the Swedish side of the Öresund strait, several mid-
and the New Economics of Competition. Just one year
sized manufacturers are currently on the upswing.
earlier, in 1997, one of Europe’s most innovative and influential clusters for life science companies – Medicon
Malmo goes full steam ahead
Valley – officially came into being.
Within a concentrated radius in Sweden’s third largest city, leading life science companies in everything from biotech to
This growing hotspot for biotech, medtech and pharma-
medtech and e-health are currently expanding their business
ceutical manufacturers and developers spans the geography
footprint. Bioglan is a case in point. This Malmo-based
of Zealand in eastern Denmark and the Skåne-region of
specialist in active compounds and semi-solid products
southern Sweden. More than two decades after its formation,
including gels, ointments, creams and liquids, has seen 100
it now employs some 40,000 people.
per cent growth over the past three years, expanding its staff PAGE 086
from 50 to 125. According to Bioglan’s CEO Simon Björklund,
New horizon for SMEs
several factors drive new investments at the company’s
When two pharmaceutical giants, Astra Zeneca and Baxter,
facility situated near Malmo’s main port.
decided to scale down operations in Malmo and Lund in 2012 and 2018, the announcements sent shockwaves through the
“We are building a new packaging line to comply with the EU’s
local life science community. Could southern Sweden’s
new serialisation regulation. At the same time, we are
healthcare industry survive two heavy blows?
transferring all production of topical skincare products from our factory in Spain to our Malmo lead site. It makes more
For a while, this question seemed to overshadow all progress
sense to consolidate manufacturing here despite lower costs
including the rise of SMEs and start-ups that were busy
in Spain,” he explains.
shaping a new path to prosperity. As it turns out, Malmo’s pharmaceuticals sector is not only alive and well but thriving
Bioglan is a contract development and manufacturing
in every sense.
organisation (CDMO) owned by the Spanish pharmaceuticals group Reig Jofré. The company supplies topical skincare
Rechon Life Science, another fast-growing contract
products to customers and patients in both Sweden and in
manufacturer for liquid products (aseptic processing) with 180
global markets, from Europe to the Middle East and New
employees, also proves the point. Located a stone’s throw
away from its neighbour Polypeptide Laboratories in central Malmo, Rechon is experiencing remarkable growth with an
“By expanding our operations in Malmo we can control the
increased turnover of 30-40 per cent for the third year running.
entire value chain,” Björklund continues. “Our most skilled personnel are based in Skåne where all development takes
This has led to growing pains and increased recruitment
place at our pilot plant. Drug manufacturing takes many years
needs, which are altogether positive says Roland Holmqvist,
from start to finish and cutting lead times wherever possible is
the company’s CEO.“It’s a pleasant challenge to be facing.
a crucial task.”
Our goal now is to cut lead times and double our capacity. This means we will move from semi-automatic to fully automatic
Bioglan’s close links to Lund University means the company
production lines while doubling the number of parallel shifts”.
can take part in joint research projects and share risks in the
“More people are employed in the life science sector in
stages of drug development.In addition to the world class
southern Sweden today than 20 years ago,” Holmqvist says.
talent and research infrastructure that Skåne provides, Björklund points out that Medicon Valley is seamlessly
To meet accelerating demand from customers in Sweden,
integrated with the rest of the continent. This, he says, makes
Europe and the USA, Holmqvist and his management team
the region internationally attractive. “When they complete the
have decided to invest at least €4 million at Rechon’s Malmo
new tunnel between Denmark and Germany in the next
site in 2019, to ramp up production of aseptic vials, syringes,
decade, Hamburg will be closer to us than Stockholm in terms
oral and nasal sprays and other products.“Our competitive
of travel time.”
edge is not price but technical know-how and flexibility in PAGE 087
Medicon Valley - Southern Sweden orphan drugs manufacturing. We host customers on site every week so they can take part in the development stages. This is highly appreciated and Malmo is easy to get to thanks to its close proximity to Copenhagen’s international airport,” he adds. Top marks for quality Recruiting skilled engineers, operators, validation experts and automation managers close to where development takes place, or nearby at the very least, is recognised by both Bioglan and Rechon Life Science as a foundation stone for success. This sentiment is echoed by another innovative CDMO in Malmo – QPharma – which is due to unveil a new factory in Malmo this summer. When it comes to handling highly potent, active pharmaceutical ingredients (APIs), QPharma is in a league of its own.Since the 1970s, QPharma has perfected its skills in a life science niche that requires containment facilities and highly qualified operators, and the company is now celebrating a major milestone. The QPharma customer Population Council, a US-based non-profit, has just received FDA approval (US Food and Drug Administration) for a 1-year contraceptive vaginal ring following 15 years of co-development. This is set to open up massive market opportunities in the USA and further afield while helping to fast-track womens’ health initiatives in under-developed regions of the world. “Sweden has a reputation in America for high quality which appeals to all our customers including several non-profit organisations and global pharmaceutical companies. We have a culture of openness and reliability, which are essential values in long-running partnerships,” says David Segerberg, Deputy Managing Director, QPharma. The company has been quick to scoop up skilled former employees from Astra Zeneca and Baxter while expanding into new facilities. QPharma already has 200 employees and plans to reinforce its team this year with a further 30 staff. “Automation is key to our manufacturing process. There is a high concentration of advanced automation expertise here, which is a further reason why Malmo is an attractive location PAGE 088
for us.”The new serialisation regulation, which means that
multinationals to small start-ups with big ideas and high
each product will have its own identification number, will
ambitions. We welcome enterprises that want to tap the
affect an estimated 22,000 packaging lines in Europe.
potential of working with internationally acclaimed science
QPharma has reconfigured eight packaging lines and installed
partners, of investing in startups, or of partnering with
new machines to ensure compliance in the EU, USA and other
research institutions in pharma, biotech, medtech and digital
markets. In February 2019, QPharma won Malmo’s official Life
health.In Sweden, companies typically think internationally
Science Business Award for its “world class development,
from day one. Sweden is globally well known for international
production and sales capabilities.”
collaboration, licencing and financing and is home to several hundred entrepreneurially driven companies in various
“I am very pleased that so many life science companies are
development stages. The main fields are drug development,
doing well in Malmo,” Segerberg concludes. “Most of them
biotech tools, diagnostics and medtech, including digital
have found their own originality and niche, which is why I
believe they have now been propelled to a frontline position in Medicon Valley.”
Find your perfect partner Sweden is a world leader in biomaterials and orthopaedic
Pushing the frontiers
implants, regenerative medicine medical imaging and
As investments ramp up in Malmo, the innovation community
visualization. Research in oncology, neuroscience,
in Lund, some 18 km away, is rapidly expanding too. Here,
inflammation and metabolic diseases is world-class.
visitors to Medicon Village Science Park can get a firsthand
Genomics, proteomics, and diagnostics are further strengths.
look at how recent efforts have paved the way for a major life
A national collaborative model brings together academia,
science comeback in southern Sweden.
industry and the healthcare sector. Support includes the
Within a year of Astra Zeneca’s closure, Medicon Village was
www.Swedishlifesciences.com database, an online resource
inaugurated at the company’s former premises with a floor
offering fast and free assistance in finding the right life science
space of 80,000 sqm. The building now provides a national
partner – from startups to major corporates.
platform for joint research projects and entrepreneurship. It is also the permanent base of 120 member organsitions and
1,600 researchers and co-workers. Further expansion plans
Swedish scientists who make a discovery own the rights to
will include both new residential homes and a hotel, making
their invention if they’re employed at a university or public
Medicon Village both larger and more dynamic than Astra
institute. This encourages innovators to commercialize their
Zeneca’s R&D facility ever was at the height of its glory.In the
discoveries, creating significant opportunities for
international commercial arena, companies such as Bioglan,
international partners and investors. Sweden has a national
Rechon Life Science and QPharma are set to become the
network of patient registries that can provide real world data
torchbearers for southern Sweden’s prowess in highly
from ongoing patient care. Uniquely, these registries are open
specialised fields of modern life science.
to life science researchers and businesses both in Sweden and internationally, paving the way for ground-breaking
Life sciences in Sweden
collaborative ventures between industry and the research
Northern Europe’s most dynamic life sciences location is a
hotbed of brainpower and talent that’s home to innovative companies and research organizations ranging from
Find out more: www.business-sweden.se PAGE 089
ECOLOGY IS THE NEW ECONOMY THE EUROPEAN FOREST INSTITUTE
This summer, climate-induced risks like wildfires, heat waves and new record temperatures are causing heartbreaking loss of lives, as well as destroying forests and property. Since June, more than 100 wildfires have raged across the Arctic. In Russia alone, wildfires have been burning in 11 of the country’s regions across the Russian Arctic, with 3.2 million hectares in Siberia affected, an area bigger than Belgium. In Europe too, Spain and Portugal have again faced important fire events, and for countries like Germany forest fires are becoming the new normal. New heat records have been set in several European countries and cities, the extraordinary
By Marc Palahí (Director, European Forest Institute) and Xavier Marcet (President, Leadtochange).
temperatures threatening public health. It is clear that we have reached a tipping point. This is a manmade climate crisis, caused by a broader structural problem
that we have to solve without delay. The fossil-based economy, PAGE 090
founded on the massive consumption of fossil energy and
The circular economy and the bioeconomy must now join
non-renewable materials, is an unsustainable economy that
forces to trigger the transformation that our economy needs.
has become too big for our planet. We have crossed the
The circular economy is about maximising resource efficiency,
earth’s resilience boundaries and must now step back from
minimising waste and designing products in new ways so that
the brink, before it is too late.
they are easily reusable and recyclable. This approach is crucial to reduce both the consumption of new products and
The new president of the European Commission, Ursula von
extraction of resources that we use for energy and materials,
der Leyen, commits to making Europe the first climate-neutral
which already amounts to more than 85 billion tonnes per
continent by 2050. Her priorities include €1trn of sustainable
year. The bioeconomy is about replacing fossil products, like
finance investment and turning part of the European
plastics, or non-renewable materials, like concrete or steel, by
Investment Bank into Europe’s climate bank, as well as a new
innovative, renewable and sustainable biobased solutions
circular economy action plan. At the same time, governments
which are carbon neutral in principle. Combining the two into
in several countries are raising climate change to the highest
a circular bioeconomy offers the greatest opportunity to
priority. The new Danish government pledged to reduce
modernise key industrial sectors like construction, textiles,
emissions by 70% below 1990 levels, while the new Finnish
chemicals, packaging or transport while decarbonising our
Government, holding the current EU Presidency, aims to lay
economy and creating new jobs in both rural and urban areas.
the foundations for a Finnish carbon-neutral economy by the year 2035. In Spain too, the current Prime Minister has
What does it mean in practice?
proposed that the first axis of his future government
Let’s take construction as an example. It is possible to build
programme would be the ecological transition of the
skyscrapers made of wood using a new generation of wood
economy. To bring these political ambitions to action we need
engineering products like cross-laminated timber. Buildings
new concepts which rethink our global economy and which
made of wood act as de facto carbon capture technologies
offer a realistic and sustainable alternative – one which gives
because using wood in construction stores carbon, unlike
us better tools to reduce climate risks.
steel or concrete which have the opposite effect. Steel and PAGE 091
THE HIKE MAGAZINE
The European Forest Institute
cement production accounts for more than 10% of global carbon emissions and if the cement industry were a country, it would be third in CO2 emissions worldwide. And of course wood is easily reusable: building materials like wooden beams could go on to an additional life as a floor board or window frame. Using wood not only reduces the carbon footprint of cities, in turn it provides potential incentives and investments for sustainable forest management and creating new forests. This has important climate benefits: as trees grow they absorb CO2 from the atmosphere, and recent research has shown that the world’s biggest terrestrial carbon sinks are found in young, regrowth forests. In turn, new economic opportunities for wood encourage landowners to manage their forests and landscapes, reducing the potential for forest fires. At a time when the changing climate wreaks havoc around the globe, we need to make a radical change. The 21st century needs to be the century of biology, of sustainability. A circular bioeconomy provides an urgently needed strategy to connect ecology and economy, urban and rural, and nature and technology. Read the report on the EFI Website: From Science to Policy - Leading the way to a European circular bioeconomy strategy. About EFI The European Forest Institute (EFI) is an independent international science organisation which generates, connects and shares knowledge at the interface between science and policy. EFI has 29 member countries who have ratified the Convention, and c.120 member organizations in 38 countries, working in diverse research fields. Website: www.efi.int PAGE 092
INVEST IN ARMENIA EUROPE'S LAND OF OPPORTUNITY
FIND OUT MORE WWW.INVESTINARMENIA.AM
INVEST IN SELANGOR THE GOLDEN STATE OF MALAYSIA - 7.1% GDP growth.
Welcome to Selangor, Malaysia’s most developed and progressive state. It is the country’s primary port of entry and
- Close Proximity to Kuala Lumpur Business Centre and
strategically located around the capital city, Kuala Lumpur.
Putrajaya Administrative Capital. As Malaysia’s largest economy, Selangor enjoys a highly - 2 major airports (KLIA, KLIA2 & Subang Skypark) / 11th
developed infrastructure for major industry clusters and is a
busiest container port in the world (Port Klang).
well‐established investment haven backed by excellent state government support and an advanced commercial ecosystem.
- 160 institutions of higher learning / more than 40,000 graduates per annum / 98.7% literacy rate / 3.4 million
Known for its highly skilled and innovative knowledge‐workforce
workforce (skilled & multilingual).
as well as an attractive cosmopolitan living standard, Selangor is a beacon of abundance and prosperity.Your journey begins here.
- Cyberjayathe national ICT Capital of Malaysia and 20 other cyber centres.
Selangor is positioning as a priority in 5 core clusters: Electrical & Electronics, Transport Equipment, Life Sciences,
Food & Beverage Manufacturing, Machinery & Equipment. PAGE 094
THE HIKE MAGAZINE
Invest in Selangor
Electrical and Electronics The electrical & electronics (E&E) cluster plays an important role in Selangor’s manufacturing sector by contributing about 22% of the state’s manufacturing output. Over the past 3 decades, E&E has successfully attracted more than RM 35 billion of investments into Selangor and created over 177,000 of employment opportunities. In view of the current structure, large multinational companies and their subsidiaries with a few mid-tier local companies dominating the local E&E cluster. The majority of corporations is still focused on low-end manufacturing and assembly. To move up the value chain, Selangor State Government recognises the need for specialisation and continuous talent development. Hence, a wealth of opportunities awaits investors throughout this transformation process. Life Sciences By contributing about one-quarter of Selangor’s total manufacturing GDP, the life sciences cluster represents a leading engine for the state’s economic growth. Indeed, life sciences activities in Selangor have always been concentrated in the central region, mainly driven by the state’s strong economic growth, well-established infrastructures, easy access to educated workforce, influx of medical tourists as well as close proximity to Kuala Lumpur being the Business Centre and Putrajaya as Administrative Capital. With vast development potentials, it is planned to advance the life sciences cluster to the next level and attract high quality investments into the state. For example, the chemicals sector (part of life sciences cluster) in Selangor has recorded more than RM 13 billion of investments over the years with a Compound Annual Growth Rate (CAGR) of 15.86% and generated more than 23,000 of employment opportunities. The extensive supply network of different chemical end- and intermediate products will provide an excellent eco-system for corporations in the fields of biotechnology, pharmaceuticals, cosmetics and personal care products as well as food & beverage processing, including nutraceuticals. Food and Beverage The food & beverages (F&B) manufacturing cluster is another important cluster that supports and stimulates the state’s economic growth. Generally, the F&B cluster revolves around the primary activity of food processing and manufacturing. Being the fifth largest industry in Selangor, food manufacturing has attracted more than RM 12 billion of investment throughout the years and produced over 33,000 of job opportunities; whereas beverages sector has attracted about RM 1.3 billion (including tobacco) of investment. In Selangor, many larger companies have been producing food products for decades, which successfully cater to both domestic and overseas markets. Besides, a vast PAGE 095
number of small and medium enterprises (SMEs) also export
Malaysia is targeting for 2,000 electric busses, 100,000 electric
their food products to regional markets. The growing
cars and 100,000 electric scooters/motorcycles on the roads
achievements of the state’s F&B cluster is driven by its
by 2020 to encourage sustainable mobility. The potential of
favorable business environment, including strong physical
different EV related niche-products are likely to enhance the
infrastructure, presence of large local and foreign
importance of automotive manufacturing within the state.
multinational companies (MNCs), access to low to medium
These initiatives, together with long-term commitment and
skill workforce, huge domestic market demand for food as
support from the state government, have ultimately made
well as diverse SMEs.
Selangor more attractive, where transport equipment manufacturers are able to thrive.
Transport Equipment The transport equipment cluster has attracted more than RM
Machinery and Equipment
25 billion of investment into Selangor for the past three
Although machinery & equipment (M&E) cluster only
decades, supporting over 68,000 jobs. Assisted by the influx of
contributes about 3% of the state’s manufacturing output, in
both domestic and foreign direct investment, transport
fact it plays an essential part for most manufacturing activities
equipment accounts for approximately 12% of the state’s
and supports various industries (eg. oil & gas, automotive,
total manufacturing output.Reflecting the significance of
agricultural, packaging, aerospace, E&E etc.). It is this
Selangor’s transport equipment cluster, Malaysia’s overall
supporting function that influences the dominant palm oil
ambition as a major aerospace hub in the ASEAN region has
industry in agriculture or the hugely successful oil & gas
started as early as the 1990s when the National Aerospace
sector, which is driving growth and even exporting products
Blueprint was formulated. Being strategically located in the
as well as expertise. Besides, M&E also promotes and
centre of Malaysia, Selangor is the country’s main port of
facilitates developments in the manufacturing sector. Over
entry and has two major airports. Over the years, Selangor has
the past 3 decades, M&E has attracted nearly RM 9 billion of
benefited from various strategic national programs, such as
investments in Selangor, creating more than 42,000 jobs.
transforming Subang International Airport into a regional MRO hub and intensifying aerospace Research & Technology
Invest Selangor is an innovative state-owned solution
activities via the establishment of Aerospace Malaysia
provider for investors interested in setting up or expanding
Innovation Centre etc. Looking at the automotive sector,
operations in Selangor, Malaysia. PAGE 096
THE HIKE MAGAZINE
Selangor Success Stories
Here are a few comments from business leaders about Selangor: “The success of Petzl operations in Malaysia is closely connected to Invest Selangor. They have been there on day one to guide us in the setup steps. They have been there along the way, when we were seeking for punctual support; and they are still following up as we speak, doing their best to ensure we keep growing.” Mr. Gilles Waeldin - PETZL Manufacturing Malaysia Sdn Bhd(Former MD) "Invest Selangor has consistently executed their commitment as an effective and supportive one-stop center in the state to serve the interests of existing and potential investors. Keep it up !" Mr. K.H. Lim - SGL Carbon Sdn Bhd(Managing Director) "Selangor has one of the best infrastructure, connectivity and skillful workforce. Located in Cyberjaya, Selangor, T-Systems Malaysia is not only well connected to the world renowned airports, but also close to many administrative offices in Putrajaya. These advantages are important to TSystems’ operation in Malaysia. As a one stop centre for Selangor’s investment promotion, Invest Selangor has constantly demonstrated professionalism and cooperation in serving the companies’ interest, while companies are able to focus on their core businesses." Ms. Sharmila Santharasagaran - T-Systems Malaysia Sdn Bhd (Director) "Invest Selangor has been providing professional, effective and strong support to MONIN in the past few years. Indeed, Invest Selangor is playing an important role to connect MONIN with the relevant administrations and associates when required. Their staff has always provided quick and professional advice." Mr. Christophe Bernard - BacotMonin Asia KL Sdn Bhd(Former MD) "Selangor is centrally located, with good connectivity and logistics infrastructure, and a ready pool of human capital with soft skills. These qualities are important to BASF as they help us operate successfully in Malaysia. Invest Selangor has also been very supportive even at the initial phase of an investment study." Mr. Daniel Loh - BASF (Malaysia) Sdn Bhd(Former Managing Director) "The infrastructure and logistics provided are very good without doubt, Selangor State takes care of Panasonic very well." Mr. Toshiro Okamoto - Panasonic Malaysia Sdn Bhd (Managing Director) Read more at: www.investselangor.my PAGE 097
U.S. MIDWEST FARMERS TO BOLSTER SUSTAINABILITY ON ACREAGE EQUIVALENT TO TATE & LYLE'S ENTIRE GLOBAL CORN PURCHASES.
TATE & LYLE AND LAND O'LAKES LAUNCH SUSTAINABILITY INITIATIVE ON 1.5 MILLION ACRES OF U.S. CORN. Tate & Lyle PLC, a leading global provider of food,
"Corn is our main raw material and we are proud to have
beverage and industrial ingredients and solutions, and
the opportunity to make a positive impact on the lives of
Land O'Lakes SUSTAIN, the sustainable solutions
U.S. farmers by supporting sustainable agriculture for the
business of one of America's largest farmer-owned
equivalent of the entire 1.5 million acres of corn we buy
cooperatives, have announced a major new initiative to
globally each year," said Nick Hampton, Tate & Lyle CEO.
help bolster sustainability on 1.5 million acres of U.S.-
"Through this unique program, we are demonstrating our
grown corn. Using best-in-class technology and
purpose of Improving Lives for Generations, helping to
sustainability solutions from Land O'Lakes SUSTAIN, U.S.
protect farmer livelihoods and supporting their work to
Midwest corn farmers will be helped to more effectively
protect natural resources by encouraging sustainable
target and measure the impact of efforts to protect the
agriculture best practices."
environment. "As a farmer-owned cooperative, Land O'Lakes knows Tate & Lyle is the first corn wet-milling ingredient supplier
stewardship starts at the farm gate, with the farmer, and
to launch a sustainable agriculture program of this kind,
we are excited to launch this landmark effort alongside
with an acreage scope representing the corn it buys
Tate & Lyle leveraging ag tech to support on-farm
globally each year. The company aims to enable more
sustainability," said Beth Ford, President and CEO of Land
sustainable farming practices, support its customers'
O'Lakes, Inc. "The Truterra Insights Engine is changing the
environmental initiatives and impact reporting, and
game for sustainability led by farmers and their ag
ultimately increase transparency throughout the food and
retailers. It's equipping them with new solutions,
beverage industry. Through this commitment, Tate & Lyle
customized to every acre to help protect the air, soil and
is able to connect members of the value chain and key
water, maintain a focus on the health of their business,
stakeholders to drive positive change.
and benchmark progress in a way that's meaningful." PAGE 098
The Truterra™ Insights Engine, launched last fall by Land O'Lakes SUSTAIN, will support corn farmers in the new program to make data-informed decisions about their farms, with acre-by-acre insights to drive environmental improvements and help optimize their businesses.
Under the program, participating corn farmers in the
and no-calorie sweeteners; and a Health and Wellness
Midwest will receive customized support through their
portfolio comprising mainly speciality fibres; and
local agricultural retailer, to help drive measurable
Stabilisers and Functional Systems, which are bespoke
improvements in greenhouse gas emission reduction,
ingredient blends that ensure foods retain their structure.
nitrogen efficiency, water and wind erosion, and soil
Primary Products consists of high-volume sweeteners,
quality. The Truterra™ Insights Engine, launched last fall
industrial starches and fermentation products (primarily
by Land O'Lakes SUSTAIN, will support corn farmers in
acidulants). It also sells co-products from the corn milling
the new program to make data-informed decisions about
process as animal nutrition.Tate & Lyle is listed on the
their farms, with acre-by-acre insights to drive
London Stock Exchange under the symbol TATE.L.
environmental improvements and help optimize their
American Depositary Receipts trade under TATYY. In the
year to 31 March 2019, Tate & Lyle sales were $2.8 billion.
As part of the program, Tate & Lyle will leverage the
For more information, please visit www.tateandlyle.com
technology to access information on the enrolled acreage and have greater visibility of improvements it is helping to
About Land O'Lakes SUSTAIN
drive in air and water quality and soil health, providing a
Land O'Lakes SUSTAIN is a leading stewardship solutions
more transparent value chain for its customers. The new
provider, advancing and connecting stewardship efforts
effort announced today builds on a pilot project launched
throughout the food system with scale – from farmers to
in November 2018 by the two companies, which reached
ag retailers to partners like food companies. Land O'Lakes
over 300,000 acres of U.S.-grown corn, benchmarking
SUSTAIN positions farmers for success by providing them
stewardship efforts on farms in Illinois and Indiana.
tools and resources to track progress on every acre they farm. Land O'Lakes SUSTAIN's network brings together
About Tate & Lyle
the best in agricultural technology and on-farm business
Tate & Lyle is a global provider of solutions and
management to drive sustainability across the food
ingredients for food, beverage and industrial
system, feeding people, safeguarding the planet and
markets.Tate & Lyle operates through two global
supporting farmer livelihoods. Land O'Lakes SUSTAIN was
divisions, Food & Beverage Solutions and Primary
launched in 2016 by Land O'Lakes, Inc., a member-owned
Products, supported by the Innovation and Commercial
cooperative that spans the spectrum from agricultural
Development and Global Operations teams. Food &
production to consumer foods. With 2018 annual sales
Beverage Solutions is focused on growth by building
of $15 billion, Land O'Lakes is one of the nation's largest
leading positions globally in the categories of beverages,
cooperatives, ranking 212 on the Fortune 500. Land
dairy, and soups, sauces and dressings. Primary Products
O'Lakes, Inc. corporate headquarters are located in Arden
is focused on delivering steady earnings and generating
cash.Food & Beverage Solutions consists of: Texturants, including speciality starches; Sweeteners, including low-
For more information: www.landolakessustain.com PAGE 099
PARANÁ STATE ONE OF THE BEST PLACES FOR BUSINESS IN BRAZIL.
We have one of the best environments for business in Brazil, ranking among the three most attractive Brazilian states for direct investments. A place for those searching for opportunities, people from more than 70 countries can be found in Paraná, the most fertile soil for their dreams, making the state one of the most multicultural and entrepreneurial in Brazil, a state that is synonymous with prosperity and growth. Paraná is one of the 26 states of Brazil and located in the south of the country. Paraná is bordered by São Paulo, the
THE STATE HAS ACCESS TO A GDP OF $1.3 TRILLION WITHIN A 1500 KM RADIUS.
Atlantic Ocean, Santa Catarina, Argentina, Mato Grosso do Sul, Paraguay and the Paraná River. Home to the araucaria forest and the UNESCO World Heritage Site, the National Park of Iguaçu. The state has a population of 10 million people. Some of the major cities in the state are Curitiba, Londrina, Maringá, Foz do Iguaçu and Ponta Grossa.
A land for breaking production records
• Abundant and skilled workmanship force. • More than 500 thousand students in college level
education(80 thousand in distance education).
• 2nd most competitive state in Brazil (The Economist).
• More than 100 thousand students in technical education.
• 5th largest GDP in Brazil.
• International and bilingual schools in the main cities.
• Access to a GDP of U$$1.3 trillion within a 1500 km radius.
• Workmanship with high productivity rate when compared to other Brazilian region.
STRATEGIC LOCATION • Privileged position, with easy connection to 260 million
• Largest electricity generator in Brazil.
• 2nd biggest port in goods circulation in Brazil.
• Has its own generating facilities, with 32 hydroelectric power
• Access by open water to 3 other ports and port warehouses.
plants of all sizes. • A thermo-electric power plant close to the largest consumer
region of the state.
• 40 airports, including the Foz do Iguaçu International airport
• Industrial gas covering a large part of the state.
and the Afonso Pena International airport, rated as the best passengers terminal in Brazil.
• 1 Waterway, Paraná Rivermore than 1,000 km long.
• One of the largest technology innovation pools in Brazil.
• First Brazilian state 100% covered by optical fiber (399
• Rated the best place to live in Brazil and the second best for
Quality of Life in Latin America. • The most reliable utility companies in the country
(sanitation, power supply, telecommunication).
• 30 technology incubators in 15 cities.
• Cultural diversity consolidated by centuries of co-existence. PAGE 101
The State of Paraná, Brazil gurantees your business access to a GDP of U$$1.3 trillion within a 1500 km radius. A proposition almost unmatched in the world. Paraná has chosen six priority sectors for investment
attraction and development. The purpose of this action, is
• Paraná is Brazil's third largest producer in the cosmetics
to strengthen segments where Paraná already has a strong
industry and perfumery, with 155 companies.
presence and to develop markets with technological
• A highlight is "O Boticario", a local initiative that became
potential to generate employment and added value.
the largest Perfumery franchise network in the world. • World's third largest consumer market (PIA IBGE).
AUTOMOTIVE AND TRANSPORTATION
• In the health area, the industry has partnered with the
• Automotive industry has operated for over 40 years.
Institute of Technology of Paraná (Tecpar), a high-end
• Audi, Caterpillar, Case New Holland, DAF, Fiat, Nissan,
producer of biopharmaceutical and immunobiologicals.
Paccar, Renault, Volkswagen and Volvo are already
• Brazilian industry of personal hygiene, perfumery and
cosmetics has grown at a rate of more than 10% every year
• 10% of the Brazilian production of cars, trucks and pick
for 5 years in a row (Sector Value).
up trucks happens here.
• The industry has already surpassed France; Brazil is now
• Third Brazilian automotive Polo.
the world's third largest consumer.
• 5 large manufacturers installed in the state.
• 155 Companies operate in the area.
• More than 1,000 companies in the area. ICT AND DIGITAL ECONOMY AEROSPACE AND DEFENCE SECTOR
• Projects such as Curitiba Tecnopark makes this region a
• Paraná Air law: government guarantee of support in the
key point for investors.
implementation of new investments.
• Londrina is the second largest center of Paraná ICT,
• 8 million graduates with Masters degrees and 4 million
demonstrating the strength and potential of the state.
with Phd students.
• One of the 10 largest computer companies in the world
• 194 Universities and 30 incubators
was born in Paraná.
• 5,000 new engineers on the market per year.
• More than 500 Companies in the area.
• 40 airports, including the best in Brazil.
• World class Laboratories such as Tecpar and Lactec. • The sector has seen huge levels of growth in Brazil and
AGRO INDUSTRY AND BIOTECHNOLOGY
the participation of Paraná in the segment points to
• Much of the production comes from highly professional
success because of the advantages the state offers.
cooperatives. • The world's largest agricultural cooperative is in Paraná.
• It is one of the largest grain producers in Brazil, with high
• Own generator park, with 32 hydroelectric plants of
supply capacity for the food sector.
• Parana is the largest producer and exporter of poultry,
• Regions north and northwest of the State offer strong
with highlights for the production of other meats, milk and
capacity for the capturing solar radiation.
dairy products too.
• Great potential for biomass generation.
• Strong tradition in agricultural production, with
• Stimulus allocated to the development of renewable
productivity ranking above the national average.
sources of energy generation.
• Sectorial development strategy focused on the long term.
• Wind farm already constituted. PAGE 102
THE HIKE MAGAZINE
Paraná Success Stories
“Curitiba and metropolitan region offer an excellent combination of economic development, logistics, infrastructure, skilled labor, and quality of life in the areas of health, culture and leisure.” Alain Tissier - Vice President of Renault in Brasil "Several strategic issues influenced DAF in choosing the state of Paraná, such as the important part of the truck market the region holds, it's agricultural production and also the high concentration of transport companies. Another very important factor is the labor structure offered in the state. Educational institutions such as the Federal Technological University of Paraná, Ponta Grossa State University and the Senai of Paraná motivated us in relation to the local labor qualification." Michael Kuester, President of DAF Caminhões Brasil “The State of Paraná offers good possibilities for the development of small, medium and large companies. skilled workforce, a stable business environment and a solid structure join the hospitable, kind and dedicated striking features of the Paraná citizen.” Cyro Gazola - General Manager of Mondelez Brasil “Harris has signed an agreement with the Government of Paraná for the production of radio and technologies suitable for use in critical missions for public safety because of finding Paraná an enabling environment for the development and production of high end technology. I highlight infrastructure, economic indicators, skilled labor and benefits of Paraná Competitive program, as key motivators for choosing the State of Paraná. Local manufacturing is an important step to increase our competitiveness in the national market.” Reinaldo Rezende, President of Harris “The choice of the state of Paraná was due to the good business environment, proximity to major vehicle manufacturers and the support received from the State of Paraná.” Shizuma Kubota President of Sumitomo Rubber do Brasil ABOUT THE COMPETITIVE PARANÁ PROGRAM The program was created to reinsert Paraná on the national, international and local investment agenda. Through the program, Parana has attracted $40 billion in FDI in the last five years. For more information: www.apdbrasil.org.br PAGE 103
KIMBERLY-CLARK AND UNICEF PARTNER TO HELP 2 MILLION CHILDREN IN LATAM Kimberly-Clark will support UNICEF Programs with a $7.2 Million donation. Kimberly-Clark and UNICEF have joined together to improve
moments in their lives," said Sergio Cruz, President for
the lives of nearly 2 million babies and young children across
Kimberly-Clark Latin America. "By partnering with UNICEF to
16 countries in Latin America and the Caribbean.
bring 'No Baby Unhugged' to Latin America, we are able to strengthen its Early Childhood Development programs that
Over the next three years, Kimberly-Clark's contribution
are vital to saving and improving lives."
through Huggies® global 'No Baby Unhugged' program will be used to support and grow UNICEF's current Early Childhood
Through the partnership, UNICEF's Early Childhood
Development (ECD) initiatives in the following countries:
Development (ECD) programs will be able to continue
Argentina, Brazil, Bolivia, Chile, Colombia, Costa Rica,
growing to improve children's lives and ensure that parents
Dominican Republic, Ecuador, El Salvador, Guatemala,
are supported and engaged in nurturing care and positive
Honduras, Nicaragua, Panama, Peru, Paraguay and Uruguay.
parenting with their children, including:
In Latin America, where one child dies every three minutes of
Ensuring babies receive quality services, including neonatal
preventable diseases and 52 percent die in the first 28 days of
care. / Creating baby-friendly environments at area hospitals
life, access to essential services such as health, education,
and clinics. / Training frontline workers to provide essential
protection programs, and more baby-friendly environments is
services for young children and their families to address
a critical life-saving need.
children's needs and ensure that parents are supported. / Ensuring that families have the support needed to take care
"At Kimberly-Clark, we are deeply committed to keeping
of their children and provide an enriched and safe
babies healthy, loved and safe during those first critical
environment for child development. PAGE 104
THE HIKE MAGAZINE
Kimberly-Clark and UNICEF "The development of children, especially during their early years, is influenced by the support of the family and surrounding environment, along with the accessibility and quality of integrated early childhood development systems," says Maria Cristina Perceval, UNICEF Regional Director. "Nevertheless, million of children in our region are deprived of the protection, stimulation, nutrition, and care they need to fully develop. We appreciate the confidence that Kimberly Clark has placed in UNICEF to continue working together to ensure that every child not only survive but also reach his or her full potential." The contribution of $7.2 million is the company's largest to UNICEF to date and represents its ongoing commitment to help babies thrive. "UNICEF has spent 70 years working to improve the lives of children and families around the world," said Juanita Pelaez Zambrano, General Manager, Baby and Child Care, Kimberly-Clark. "We know more babies and mothers will have access to essential health services, counselling and the support they need from the start thanks to the partnership with UNICEF." About Huggies® No Baby Unhugged No Baby Unhugged is one of the largest global social impact programs established by Kimberly-Clark through its Huggies® brand. The program began in 2010 and aims to help the most vulnerable babies in society get the hugs and care they need. This care comes in many forms including hospital partnerships that support volunteer hugging programs, partnerships with NGOs who are focused on improving newborn and maternal health care, and diaper and wipe donations. Over the past five years, nearly 3 million babies in Canada, the United States, Israel, Australia, Vietnam, China, and India have benefited from the program. About Kimberly-Clark Kimberly-Clark (NYSE: KMB) and its trusted brands are an indispensable part of life for people in more than 175 countries. Fueled by ingenuity, creativity, and an understanding of people's most essential needs, we create products that help individuals experience more of what's important to them. Our portfolio of brands, including Huggies, Kleenex, Scott, Kotex, Cottonelle, Poise, Depend, Andrex, Pull-Ups, GoodNites, Intimus, Snow, Plenitud, Viva and WypAll, hold the No. 1 or No. 2 share position in 80 countries. We use sustainable practices that support a healthy planet, build stronger communities, and ensure our business thrives for decades to come. To keep up with the latest news and to learn more about the company's 147year history of innovation, visit the website: www.kimberly-clark.com PAGE 105
BOGOTA LATIN AMERICA'S ECONOMIC GATEWAY Bogota is the economic, cultural and administrative center of
A Large Market with Broad Access to International Markets
Colombia, which in turn is the ideal gateway for the Latin
Companies located in Bogota have direct access to the
American market due to its location, political stability, and
US$330 billion Colombian market - one of the largest, most
dynamic markets in Latin America. Colombia is the third most populous country in Latin America, home to nearly 50 million
A cosmopolitan city of 8 million inhabitants that has
positioned itself as one of the main business centers of Latin America, Bogota offers a base that comes fully equipped for
the success of your business.
Bogota-Region represents a market of over 11 million people, equivalent to 22% of the nation’s population (which was 49.8
Privileged geographical position
million in 2018). Its strong and diversified economy explains
One of the main attractions of Bogota is its privileged
why it makes sense to invest in Bogota.
geographical position. Located in the center of the Continent, the capital has an area of 1,775.98 km2 and offers
a whole range of international connections. Its air terminal
Colombia's economic situation is reflected in its capital’s
boasts the largest cargo transportation capacity in Latin
positive indicators. Bogota has a favorable climate for
America and ranks third in terms of passengers.
business - Fitch Ratings’ stable AAA credit rating and its 30.6% PAGE 106
contribution to the country’s industrial GDP support the
ensures the scalability of any operation. The city’s 128
decision to invest.
institutions of higher education enroll over 165 thousand students and graduate over 158 thousand professionals and
In 2018, the metropolitan region's GDP accounted for 30.77%
technicians per year. In addition, Colombia has one of the
of Colombia’s total, namely USD 101.6 billion. In the same
most flexible labor regimes in Latin America.
year, Bogota’s per capita GDP rose to USD 9,247, significantly higher than the USD 6,625 per capita GDP figure for the
country as a whole.
Bogota-Region offers a very competitive production cost structure. For example, the city has one of the most favorable
Bogota-Region represents 32% of the country's corporations,
salary levels among the major Latin American cities. In 2017 it
57% of its financial transactions and is home to a highly
held a 49% share of all of Colombia’s medium and large
qualified talent pool. As proof of this, the number of
businesses and in 2018 it had a 44.46% share of the country’s
multinationals that have decided to start operations in Bogota
international trade. In 2018, the metropolitan region exported
has increased steadily and by 2018 a total of 1,504 of these
USD 4.58 billion (FOB) and imported USD 29.33 billion (CIF).
companies were located in the city. Foreign investment Economic strength
Bogota is a business-friendly city that offers investors one of
The strength of Bogota’s economy is evident in its dynamism.
the best entrepreneurial environments in Latin America.
During part of the last decade, the city’s economic growth
According to the latest World Bank analysis, Bogota is the
outpaced Latin America’s. In fact, in 2018 the Colombian
easiest city in Latin America to conduct business.
capital’s economy grew by 3% and the unemployment rate
Proof of this is that over the last 8 years Bogota has been the
stood at 10.5%.
Latin American city that has implemented most reforms aimed at making its business environment more efficient.
The city’s solid economic performance is reflected in the
Flows of foreign direct investment (FDI) to Colombia have
outstanding stability of its prices. Bogota has one of the
performed remarkably well throughout the last decade.
lowest inflation rates among the most important cities in Latin
The historical peak in 2013, when FDI broke the barrier of USD
America. In 2018 it was 3.06%, considerably lower than cities
16 billion, is proof of this.
such as Buenos Aires, Mexico City and Sao Paulo. Priority Investment Sectors Workforce in Bogota
Bogotá is the ideal place for the development of all types of
A young, skilled, 4.6 million strong workforce in Bogota
businesses. The important sectors that are prioritised for PAGE 107
Invest in Bogota THE HIKE MAGAZINE
promotion by the administration of Bogota include: - Information Technology - Outsourcing industry (BPO) - Health Services - Pharmaceutical Industry - Cosmetics - Medical Devices - Construction materials - Food and beverages industry - Infrastructure and City Projects - Creative industries - Biotechnology - Renewable Energy - Financial Services Attractive Incentives in BogotaÂ As part of reforms to make business conditions more attractive, Colombia and Bogota offer attractive incentives for investment, including: Free Trade Zones (FTZs): - One Income tax rate of 20%. - No customs duties (VAT and tariff) are caused or paid on goods that are introduced to the Free Trade Zone. - Export from the Free Trade Zone to third countries. - Goods of foreign origin introduced into the free trade zone may remain in them indefinitely. - VAT exemption for raw materials, parts, inputs and finished goods sold from the national customs territory to industrial users of goods or services in Zona Franca or between these. Local Tax Exemptions Goods and services produced in Bogota for export are exempt from the Value Added Tax (19%) and local Industry and Commerce Tax (1.14% of gross revenues). Surrounding municipalities offer this tax exemption solely on the basis of job creation and/or investment. Why are so many companies relocating to Bogota from other cities in Colombia, neighboring countries and Central America? Find out more: www.investinbogota.org PAGE 108
BRAZIL LEADING ON INNOVATION
KSA GROUP LTD - COMPANY RESCUE
ARE COMPANIES WITH WOMEN ON THE BOARD LESS LIKELY TO GO BUST? UK SMEs with Women on the Board are Less Likely to
which reflects the fact that administrations are more for
go Bust According to New Research by KSA Group.
larger businesses. Interestingly only 9 female-run companies used this tool, compared to 452 male-run
Insolvency Practitioners, KSA Group Limited who run the
companies. This is most likely due to the fact that there
website www.companyrescue.co.uk, has found that
are very few large all female run companies.
companies with mixed boards are less likely to become insolvent than those with all male boards, and all female
Break down by Industry Sector
boards. KSA looked at the insolvency rate of the UK's
A break down by industry sector of the companies shows
1.5m companies with 2 or more directors in the last 12
there is no large difference in the industry sectors
months to June 2019.
between the different board types. All male boards are more common in the construction industry, which does
have a higher overall insolvency rate, but it is not enough
- The insolvency rate is 49% higher in all male boards than
to demonstrate that it is the male dominated
construction companies becoming insolvent that are
- The insolvency rate 32% higher in all male boards when
responsible for the overall discrepancy. Mixed boards are
compared with all female boards.
more common in the administration and services sector but they also have a high insolvency rate.
The insolvency rate for male-dominated boards was 0.63%, for female boards it was 0.48% and for mixed
Other analysis highlighted that 25% of all insolvencies
boards, it was 0.43%. So, it appears that mixed boards are
occurred in the London area. However, interestingly a
more likely to avoid insolvency than either all male or all
higher proportion of women run businesses that became
female run companies. As a recent study by Morgan
insolvent were based in London.
Stanley found, firms which have a more gender equal board, have outperformed their less diverse peers by 2.8%
Robert Moore, Marketing Manager for KSA Group, said;
per annum, in the last eight years.
"This is the second year that we have researched the role of gender in the insolvency rates of SMEs. Last year we
Types of Insolvency
found that female dominated boards had a lower
Liquidations account for the vast majority of insolvencies.
insolvency rate than male dominated boards. This year
Administrations only accounted for 10% of insolvencies,
we looked at the role of gender diversity and found that PAGE 110
"Whilst it is not possible to prove that women are better at running businesses than men, the body of evidence is growing that companies which have women on the board do reap benefits in terms of increased profitability and less corporate failures." - Robert Moore, Marketing Manager for KSA Group
mixed boards had lower insolvency rates than both all
male and all female boards. Whilst it is not possible to
Keith Steven is the managing director of KSA Group Ltd -
prove that women are better at running businesses than
a specialist firm of turnaround practitioners. Over 5,000
men, the body of evidence is growing that companies
people have contacted KSA since Keith launched this
which have women on the board do reap benefits in terms
unique website in 2000 and over 500 companies have now
of increased profitability and less corporate failures."
been directly assisted by the author over the last 18 years with assignments ranging from large multi-national
Notes on the research
projects to small recruitment firms.
Using Companies House data KSA Group looked at companies that had become insolvent that have 2 or
Eric Walls - MIPA FABRP National Director of
more directors in the year to June 2019. A total of 8003
Turnaround and Insolvency
companies. We looked at the total insolvencies of the
Eric Walls is a licensed insolvency practitioner regulated
different board types against the total trading companies
and licensed by the Insolvency Practitioners Association.
of the same. 8003 companies fitting the criteria became
His ethos is always "give the right advice, choose the right
insolvent out of a total of 1,580,923.
options, rescue first if possible." He has many years experience in accounting and insolvency having trained at
3962 out of 929,548 mixed boards became insolvent.
Touche Ross (Deloitte) and has been involved in turn-
3761 out of 592,511 all male boards became insolvent.
around and insolvency since the early 90's. Eric gained his
280 out of 58,864 all women boards become insolvent.
licence in 2002 and has been involved in many innovative turnarounds as well as hundreds of liquidations,
KSA Group Ltd t/a Company Rescue
administrations and bankruptcies across UK.
KSA Group are Turnaround Experts and Insolvency Practitioners. Through www.companyrescue.co.uk we
Wayne Harrison – London Director of Insolvency
provide high quality, easy to understand advice on turn -
Wayne is also a licensed insolvency practitioner who is
around and insolvency problems. Supported by trained
regulated and licensed by the IPA. He has over 15 year's
advisors who can explain what solutions are available to
insolvency experience and heads up our London office.
your problems. Our team of professionals at KSA Group
He has extensive experience of corporate and personal
are all passionate about saving viable businesses and
insolvency, which culminated in him being appointed by
giving the best possible advice to directors, creditors and
the IPA to oversee the regulation of insolvency
stakeholders in any insolvency situation. Many of our
practitioners. He joined the IPA in 2003 where he was part
team have had direct personal experience of business
of the team that developed and implemented its "Better
distress and have felt that there are better ways to advise
Regulation Framework" and he managed its regulatory
all those involved.The KSA group Ltd has offices in
operations for three years before making the decision to
Berwick, Gateshead, Birmingham and the City of London.
return to insolvency practice with KSA Group in 2009. PAGE 111
IDAHO - NO MATTER WHERE YOU’RE FROM, THIS STATE IS WORTH THE INVESTMENT The Time Is Now
Innovation . Investment . Idaho
There’s no better time to launch or expand your business in Idaho. Thanks to a combination of low taxes, a balanced
> 6th Best State Economy - U.S. News
state budget and a commonsense regulatory environment,
> 3rd Highest Projected Job Growth Rate -Bureau of Labor
our economy is one of the strongest in the nation.
> 2nd Lowest Property Tax in the USA - Tax Foundation > A Top 10 Most Tax Friendly State - CNBC
Balanced State Budget
> Most Friendly for Small Business - Kauffman Foundation
In Idaho, we know the importance of living within our
> 4th Best State for Cost of Doing Business - CNBC
taxpayers’ means. Our constitution requires us to maintain a balanced budget, and we have done so even during the
recession. The best part? We did it without raising taxes.
Because Idaho is fiscally responsible when times are hard,
We tightened our belt just like our businesses had to and,
we can reward taxpayers when things are looking up.
as a result, we’re stronger than ever before.Maybe that’s
In 2012, we cut taxes. In 2013, we exempted more than 90%
why Idaho is consistently in the top for states employment
of Idaho businesses from paying personal property tax.
growth, has maintained strong GDP growth and has lowest
Our companies can bank on the stability of our tax system
ratio of debt service as a share of revenue.
because it doesn’t unduly burden any one sector. PAGE 112
THE HIKE MAGAZINE
Iaaho Leads The Way!
Workforce with a Western spirit Idaho’s Western spirit has created a hardworking, can-do culture, and it shows in our workforce. Our employees are dedicated and highly skilled, and our colleges and universities collaborate with the private sector to customize programs that meet the needs of Idaho businesses. Get there fast Businesses cite Idaho’s easy access to key markets throughout the U.S. and beyond as a major factor in their decision to locate here. With major rail line access to key U.S. seaports in Portland and Seattle, one-to-two-day shipping to every western state, and nonstop service to nearly 20 major U.S. air hubs, Idaho’s in the strategic sweet spot for easy distribution of goods. See where an idea can take you Whether you specialize in technology, agriculture or manufacturing, you’ll find driven, like-minded professionals who share a passion for success in Idaho.Idaho’s vibrant entrepreneurial culture is heralded as one of the best in the country. We’re in the top 10 for places to launch a new business and CNBC reported Idaho as the number three state for business friendliness in 2018, not to mention that we are consistently place as a top state for patents per capita. Idaho’s globally competitive and innovative business community is ready to help you take your business to the next level Your bucket list just got bigger. When you move to Idaho, there’s one thing you’ll have to get used to: never running out of fun things to do. Imagine being able to go biking, skiing, whitewater rafting or fishing within minutes of home. Idaho is the Northwest’s best-kept secret for recreation, culture and adventure, without heavy traffic or budget-breaking prices.Living and working in Idaho is a oneof-a-kind experience. We boast the lowest cost of living in the western states and, with an average commute time of just under 21 minutes, Idahoans get to work, home and the outdoors faster than anyone in other western metro areas. Take a look at what life in Idaho has to offer. We promise you won’t be disappointed. Find out more: www.commerce.idaho.gov PAGE 113
HONDA INVESTS $46 MILLION TO EXPAND POWER EQUIPMENT PLANT IN NC Plant adds production of all-new Honda HRN lawn mower
"For more than 35 years, Honda associates in North
and new GCV engine.
Carolina have made high quality power equipment products
Associates at Honda Power Equipment Mfg., Inc. recently
that help make people's lives better," said Shane McCoy,
marked 35 years of producing power equipment products in
senior vice president at HPE. "Our decision to invest in
America by announcing a $46.4 million investment to expand
Honda's Swepsonville plant fulfills Honda's longstanding
the Swepsonville, N.C. plant's manufacturing capabilities.
approach to build products close to the customer and
HPE also announced plans to begin production in September
demonstrates our strong commitment to North Carolina."
of an all-new Honda HRN lawn mower. In addition to the investment and expansion announced The new investment further strengthens HPE's production
today, HPE invested $10.5 million in a 116,000 sq. feet plant
technologies in the North Carolina plant and includes a
expansion announced in February 2018, which now supports
production line for the new Honda GCV general-purpose
assembly and parts storage operations. Once all renovation is
engine and a 135,000 sq. feet plant expansion for parts
completed, this area will house the new engine line. Honda
storage. The plant has the capacity to produce 2 million
has invested a total of $350 million in the North Carolina
general-purpose engines per year, including the GCV engine,
facility. HPE is one of Honda's highest producing plants in the
which is designed specifically for premium, residential power
world with the annual capacity to produce more than two
million Honda general-purpose engines and 500,000 finished PAGE 114
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Honda Manufacturing in the U.S.A products, including Honda lawn mowers, snow throwers, string trimmers, mini-tillers and generators. HPE began production of lawn mowers in 1984, as the third Honda manufacturing plant in America, with cumulative production now topping 38 million products for Honda customers in the U.S. and around the world. Many Honda Power Equipment products, including the new HRN lawn mower, are developed by the Honda R&D Americas, Inc. Power Equipment Division at its North Carolina Center, located adjacent to Honda Power Equipment Manufacturing in Haw River, N.C. To commemorate the 35th anniversary milestone, HPE made contributions to local community organizations, demonstrating its continued commitment to Alamance County. HPE donated $2,500 to the Alamance-Burlington School System and provided Honda EG2800i OFI generators to fire departments in Swepsonville, Mebane and Haw River and the Piedmont Triad chapter of the American Red Cross. About Honda Power Equipment Honda markets a complete range of outdoor power equipment, including outboard marine engines, general-purpose engines, generators, lawn mowers, pumps, snow blowers, tillers and trimmers for commercial, rental and residential applications. Learn more at: www.powerequipment.honda.com Honda Manufacturing in the U.S. Honda has one of the largest and most diverse manufacturing footprints of any international company operating in America. Honda has been producing automobiles in America for more than 35 years and currently operates 12 major U.S. manufacturing facilities, employing more than 20,000 associates in the production of Honda and Acura automobiles, Honda power equipment products, Honda Powersports products, the HondaJet advanced light jet and GE Honda HF120 turbofan engines. In 2018, Honda produced more than 1.2 million automobiles in the United States, and 65 percent of all Honda and Acura automobiles sold in the U.S. were made locally, using domestic and globally sourced parts. Cumulatively, Honda has invested more than $20 billion in its U.S. sales, manufacturing and R&D operations, including more than $5.9 billion in new investment over the past five years. PAGE 115
HOWARD COUNTY ECONOMIC DEVELOPMENT AUTHORITY SIGN MOU ON JOINT SUPPORT FOR KOREAN STARTUPS In August, the startup ecosystem Born2Global Centre
Maryland's Howard County and is responsible for economic
and Howard County Economic Development Authority
development in Howard County. It currently operates the
(HCEDA) signed an MOU on joint support for startups.
Howard County Innovation Center, the Maryland Center for Entrepreneurship, and the Business Resource Center with the
The signing ceremony was attended by Howard County
aim of cultivating companies with innovative technologies
Executive Calvin Ball, First Lady of Maryland Yumi Hogan,
and startups. The signing ceremony included a business
HCEDA CEO Lawrence Twele, Maryland Department of
seminar conducted by the State of Maryland and a session
Commerce Deputy Secretary Benjamin Wu, and Embassy of
introducing the technology and demonstrating the services of
the Republic of Korea in USA Counselor Dr. Dokyu Lee.
six Korean startups (Hylium industries, MOIN, 12CM, LentinAR, LUXROBO, GSIL) for key venture capital firms
The purpose of the MOU is to help Korean startups gain a
in Howard County. Investment meetings were also held for
solid foothold in the US market by providing assistance with
the Korean startups.
establishing local hubs and a stable business foundation. The Howard County Innovation Center will create a soft-
Howard County Executive Calvin Ball said, "Howard County
landing zone at the HCEDA for qualified South Korean
not only has the highest proportion of Korean-American
startups. The HCEDA is a department affiliated with
residents in Maryland but also is home to over 170 companies PAGE 116
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Howard County + Korean Startups
owned by Korean-Americans. Through our MOU with the Born2Global Centre, we will be actively supporting companies with innovative technologies that have high potential for growth so they can establish themselves successfully in the United States." Chief Executive Director Jongkap Kim of the Born2Global Centre said: "Our collaboration with Howard County will be of significant assistance to Korean companies in terms of finding the varying things they need to do business locally and to expand their business foundations. The synergy created by our lengthy expertise in entering foreign markets and Howard County's professional consultation services, network connections, and infrastructure will greatly enhance the competitiveness of Korean startups." About Born2Global Centre Born2Global Centre is a full-cycle service platform for global expansion. Since inception in 2013, Born2Global has been setting the standard for successful startup ecosystem as the main Korean government agency under the Ministry of Science and ICT. Born2Global has expanded and transformed startups to be engaged, equipped and be connected with the global market. For more detailed information on Born2Global Centre, visit the website: www.born2global.com About The Howard County Economic Development Authority The Howard County Economic Development Authority (HCEDA) is a public-private partnership whose primary goal is to promote economic growth and stability by supporting existing businesses, targeting new businesses and attracting corporate and regional headquarters. Its role, central to its mission, is to be a catalyst for economic growth and sustainability in Howard County. Quality economic development is critical to the County’s future to ensure an adequate tax base that will maintain and sustain the high quality of life that its residents have come to expect and deserve. About Howard County Close to everything, close to perfect – that’s Howard County. Located directly between Baltimore and Washington, D.C., it’s the ideal place to start, grow or relocate your business.It all adds up—a thriving, vibrant economy and welcoming business environment, with proximity to 50 federal agencies, universities, Fortune 500 companies, technology, defense and health care companies. No wonder our county is one of the top choices for businesses in the Mid-Atlantic. Website: www.hceda.org PAGE 117
IBM AND FRAUNHOFER INSTITUTE JOIN FORCES ON QUANTUM COMPUTING INITIATIVE FOR GERMANY
artificial intelligence much more powerful. Such advances could open the door to new scientific discoveries, life-saving drugs, and improvements in supply chains, logistics and the modelling of financial data. The German Government will invest 650 Million Euros over the next two years to support the transition of quantum technologies from basic research into market ready applications. Now, the IBM Q Network, will have a major, new European hub for quantum computing. The hub will focus on developing a unique concentration of quantum skills in Germany and build a community of academics, researchers, developers, IT professionals and industry experts around the technology. The joint initiative of FraunhoferGesellschaft and IBM (Germany) aims to unite prominent partners in research and industry under the roof of a Fraunhofer Competence center for quantum computing,
Agreement Bolsters Germany's Innovation Agenda with focus on Creating New Community around Quantum Research and Skills. IBM and one of Europe's leading organization for applied research, FraunhoferGesellschaft announced an agreement to partner in the area of quantum computing with the goal of advancing the research and experimentation in Germany. The cooperation aims to drive the creation of a new community for industry and application-oriented quantum computation strategies. Under terms of the agreement, an IBM Q System One, owned and operated by IBM, will be located in an IBM facility in Germany. It will be the first installation of its kind in Europe. Developed by IBM Research, the IBM Q System One is optimized for the quality, stability, reliability, and reproducibility of multi-qubit operations. Due to these factors and the resulting high Quantum Volume - a measure of the power of a quantum computer - IBM Q System One enables state-of-the-art quantum computational research for science and industry. Quantum Computing has the promise to untangle the complexity of molecular and chemical interactions, address complex optimization problems, and make
operated and managed by the FraunhoferGesellschaft, already extensively active in the fields of quantum technology in fourteen of its institutes. "This effort is poised to be a major catalyst for Europe's innovation landscape and research capabilities around quantum computing. This collaboration, as part of the IBM Q Network, will bring together European experts in a broad, active community of research partners to prepare the region for upcoming opportunities in the digital economy. Through this joint effort with Fraunhofer, we are ensuring the region is at the frontline of building the future", says Martin Jetter, Senior Vice President and Chairman IBM Europe. PAGE 118
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IBM + Fraunhofer "This partnership is a landmark quantum computing initiative and a crucial step forward for German research institutions as well as businesses of all sizes in our country. The installation of an IBM Q System in Europe is unique and unprecedented and opens up the development of quantum computational strategies at the Fraunhofer-Centre under full data sovereignty according to European law", says Professor Reimund Neugebauer, President of the German Fraunhofer Gesellschaft. The IBM Q Network The IBM Q Network is collectively forging the path to quantum advantage and discovering practical applications of the emerging technology. Participating organizations access IBM's most advanced quantum systems through the IBM Q Experience and have access to proprietary software and tools. Professionals across industry and academia need new skills to capitalize on quantum computing. As part of the IBM Q Network, organizations receive support, training, and enablement from IBM's industry-leading technical experts. Website: www.ibm.com/quantum-computing About Fraunhofer The Fraunhofer-Gesellschaft is the leading organization for applied research in Europe. Its research activities are conducted by 72 institutes and research units at locations across Germany. The Fraunhofer-Gesellschaft employs a staff of more than 26,600, who work with an annual research budget totaling 2.6 billion euros. Of this sum, 2.2 billion euros is generated through contract research. Around 70 percent of the Fraunhofer-Gesellschaft's contract research revenue is derived from contracts with industry and from publicly financed research projects. International collaborations with excellent research partners and innovative companies around the world ensure direct access to regions of the greatest importance to present and future scientific progress and economic development. Website: www.fraunhofer.de PAGE 119
As a leading financial center, international transport hub, global trade fair location and trading center, as well as a prime location for innovation, technology, education, culture and science, Frankfurt am Main and the RheinMain-Region attract companies of all sizes and from all business sectors.
FRANKFURT RHEIN MAIN OFFERS A GREAT BREXIT ALTERNATIVE GLOBAL EXHIBITION AND TRADING CENTER Frankfurt Rhein Main is one of Europe’s leading trade fair
LEADING FINANCIAL CENTER
locations, hosting more than 60 fairs and exhibitions each
Excellent financial and insurance expertise converges in
year. Entrepreneurs from diverse industries all around the
Frankfurt am Main – right in the heart of Europe. Thanks
world meet up at these international trade fairs to
to the Frankfurt Stock Exchange, the European Central
Bank and many other major financial institutions, Frankfurt am Main, complete with the surrounding Rhein-
SCIENCE AND RESEARCH
Main-Region, is Germany's leading financial center.
The Frankfurt Rhein Main Region is home to highly qualified specialists in a wide range of specialized fields.
INTERNATIONAL TRAFFIC HUB
Well-known institutes, a dense network of prestigious
The business location of greater Frankfurt is one of the
colleges, universities, and research-intensive companies
most important traffic hubs in Europe. 35 million people
ensure close links between research and industry,
live and work within a radius of 200 km. By road, rail,
contributing to the success of this attractive business
water and air – something is always moving here.
location. PAGE 120
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INVEST IN FRANKFURT RHEIN MAIN
8 REASONS TO INVEST IN FRANKFURT RHEIN MAIN 1: WELL CONNECTED Best connected hub worldwide, 4,580 departures per week, 299 destinations in 97 countries, 47 million consumers in a 200 km radius. 2: CENTER OF BUSINESS 10% of all products "Made in Germany". Core industries: Life Sciences, IT, Automotive, Finance. > 70 technology networks at industry clusters. 3: FINANCIAL CENTER Leading financial center of continental Europe. ECB, EIOPA, SSM, ESRB - "financial capital Europe". > 160 international banks. > 15 banks chose Frankfurt as alternative after Brexit. 4: GERMANY´S DIGITAL HUB World´s most important internet exchange point. Outstanding location for data centers. Highly qualified workforce. > 20.000 students enrolled in engineering and informatics. Most important ITcluster in Europe. 5: STRONG LOCAL MARKET Excellent conditions for consumer goods/retailing industry. Unique catchment area: 5,6 mio. consumsers /within 60 km). Purchasing power 13% above German average. 6: TALENT POOL More than 200.000 students. > 100 Bac/Master programs in foreign languages. > 80 recommended research centers like Fraunhofer, Max Planck, Leibniz. 7: INTERNATIONALITY Most international place in Germany. Strong presence of business communities from the US, France, UK, Japan, China, India, Taiwan and Europe´s largest from Korea. 30 international schools and a great number of bilingual kindergartens. 8: QUALITY OF LIFE Culture, party, experiences of nature, shopping, sports...always on in 30 minutes! For more information, please visit: www.frm-united.com PAGE 121
SAMSARA RAISES $300 MILLION IN NEW CAPITAL TO VALUE THE 4 YEAR OLD COMPANY AT $6.3 BILLION
"Our customers build and maintain the infrastructure critical to billions of people around the world -- everything from helping provide water and food, to construction materials and energy. But even though these industries are critical, they haven't benefited from software and cloud like the world of IT has. We are changing that," said Sanjit Biswas, co-founder and CEO of Samsara. "Samsara's approach is to use the Internet of Things to help increase the efficiency, safety, and sustainability of industrial operations. As Samsara has grown, we've continued to discover new opportunities to innovate on behalf of our customers, and this investment will enable us to further expand the solutions that we can provide to them." Enabling a more efficient, safer, and more sustainable economy with Industrial IoT Samsara serves customers in operational industries from transportation and logistics to field services, food production, energy,
- Investment will enable the company to increase the efficiency, safety, and sustainability of the operations that power our economy. - New investors Tiger Global and Dragoneer joined by previous investors Andreessen Horowitz and General Catalyst - company valued at $6.3 billion. Samsara, the leader in Industrial IoT, has announced $300 million in new funding to accelerate the company's growth. The funding comes from new investors Tiger Global and Dragoneer, along with existing investors Andreessen Horowitz and General Catalyst. The round values Samsara at $6.3 billion, and brings the total funding raised to $530 million. The funding comes as demand from customers continues to surge. Over the past year, Samsara more than doubled their customer base to 10,000, and expanded into 10 new countries, all while growing revenue at over 200% annually. With this capital, Samsara will develop new products for customers, expand into new geographical markets, and grow the team to continue delivering a great customer experience as the company scales.
construction, local governments, and manufacturing. These industries form the foundation of our economy; yet with assets and workers distributed across remote and often rugged environments, they have long been underserved by technology. But that is changing. The Internet of Things (IoT), driven by advancements in wireless data, cameras, cloud computing, and AI, is enabling these physical operations to adopt technology in powerful ways. In fact, McKinsey predicts that Industrial IoT will provide over $2.2 trillion in global economic impact by 20251. As operators realize the benefits of IoT for their workers, their customers, and their bottom line, adoption is surging. PAGE 122
"Samsara is targeting a massive market - operations represents over 20 percent of GDP. What they've already created is impressive but in 10 years we'll look back and see that, where Samsara is today, was just the start." - Hemant Taneja, Managing Director at General Catalyst. A complete hardware + software + cloud platform bringing
investments. In the coming year, Samsara will add 1,000 new
IoT to operations of all sizesSamsara makes complete
hardware, software, and cloud solutions that bring real-
- Accelerate our expansion into Europe, Mexico, and Canada.
time visibility, analytics, and AI to operational customers of
- Grow our R&D team to build new products.
all sizes. Customers manage their operations in real-time
- Scale our support and account teams to maintain a great
from Samsara's cloud-based dashboard, leveraging
customer experience as we grow.
integrated software to lower fuel consumption, reduce emissions, prevent accidents, automate manual processes,
"Samsara has a unique ability to see 15 years ahead and plan
improve quality, and avoid downtime. The company's
for that future, while also executing at a pace that I've rarely
growing suite of solutions include vehicle telematics, driver
seen before. In less than five years they've successfully
safety, mobile workflow and compliance, asset tracking,
created multiple product lines addressing diverse industries
and industrial process controls -- all in an integrated, open,
and geographies," said Hemant Taneja, managing director at
General Catalyst. "Samsara is targeting a massive market operations represents over 20 percent of GDP. What they've
Here are just some examples of how Samsara's 10,000+
already created is impressive but in 10 years we'll look back
customers have transformed their operations:
and see that, where Samsara is today, was just the start."
Reducing environmental impact at the City of Fort Lauderdale: 1,700 citywide vehicle fleet has decreased fuel
consumption by 5%, achieving the carbon emissions
Samsara is the leader in Industrial IoT. Our mission is to
impact of planting nearly 20,000 trees while saving
increase the efficiency, safety, and sustainability of the
operations that power our economy. Samsara's portfolio of
Keeping drivers safe at Simco Logistics: With dash
complete IoT solutions combine hardware, software, and
cameras and AI-based driver coaching software, Simco
cloud to bring real-time visibility, analytics, and AI to
reduced their distribution fleet's accident rate by over 50%,
operations. We serve over 10,000 customers across diverse
reducing insurance premiums while helping their drivers
sizes and industries, from transportation and logistics to field
come home safely.
services, food production, energy, construction, local
Improving customer service at San Jose Water
governments, and manufacturing. Samsara's growing suite of
Company: Real-time visibility into pumps and water
solutions includes vehicle telematics, driver safety, mobile
equipment has informed capital planning and delivered
workflow and compliance, asset tracking, and industrial
better customer service for their 1 million customers.
process controls - all in an integrated, open, real-time
Increasing efficiencies at Collins Earthworks: Leading
platform. Samsara was founded in 2015 by the co-founders of
UK-based construction company uses Samsara's fuel usage
Meraki, now part of Cisco Systems. Our fast-growing team of
reports to calculate exactly how load weight influences fuel
1,300 employees is headquartered in San Francisco with
usage on trips, leading to better cost estimates for loads.
offices in San Jose, Atlanta, and London. Samsara has raised over $530M from Andreessen Horowitz, General Catalyst,
Investing for the long term
Tiger Global, and Dragoneer.
With a sustainable business model and a fast-growing base of happy customers, the funding will enable new long-term
For more information on Samsara: www.samsara.com PAGE 123
CITY OF HELSINKI, FINLAND LEADS THE WAY WITH 100% CARBON NEUTRALITY PROGRAM City of Helsinki Launches Local Sustainability Programme in
restaurants, shops, events, experiences and accommodation,
Response to Citizen Concern About Climate Change.
each benchmarked against tailor-made criteria developed by
The Think Sustainably service empowers residents and
the City of Helsinki in collaboration with the independent
visitors to make informed daily choices, rating the Finnish
think tank Demos Helsinki, local interest groups and
capital's restaurants, attractions, shops and accommodation
sustainability experts. The service also includes a route
against bespoke sustainability criteria.
planner feature that enables choosing emission-free transportation options to the wide variety of experiences on
According to a survey carried out by the City of Helsinki in
offer in the city. The route planner provides CO2 emissions in
2018, two thirds of residents identified the climate crisis as
grams per person per trip. Currently gathering feedback from
their major concern when thinking about the future of the
users, the Think Sustainably service is publicly available with
city. In response, Helsinki has launched Think Sustainably,
plans to roll the programme out further and review its impact
the world's first online service that enables making
sustainable choices as easy as using an app. Cities house more than half of the world's population and are Think Sustainably provides residents, visitors and business
responsible for over 70 per cent of the world's energy-related
owners with practical tools to rethink their daily behaviour
carbon emissions (C40). The City of Helsinki recognises that
and make more sustainable lifestyle and business decisions.
cities are at the forefront of combating climate change and
Services filtered through the online programme include
implementing innovative policies. The City is aware of the PAGE 124
In June 2019, Helsinki was crowned as the most innovative region in the EU by the European Commission, and is a European Capital of Smart Tourism 2019. need of systemic change in habits and the programme is the
it. There's a great demand for the frustration to be channelled
latest initiative to support its 2035 carbon neutral target.
into something productive that allows us to rethink our lifestyle
In developing Think Sustainably, The City has recognised the
and consumer patterns. As a service, Think Sustainably gives
unique role that cities play in creating solutions to enable
you concrete tools for that. We certainly need everybody on
change in everyday lifestyles to address the global climate
crisis. In June 2019, Helsinki was crowned as the most innovative Kaisa-Reeta Koskinen, the Director of the City of Helsinki's
region in the EU by the European Commission, and is a
Carbon Neutral Helsinki Initiative said: "The shift towards
European Capital of Smart Tourism 2019. The City is the first
carbon neutrality requires both major structural changes and
European city and, the second globally (after New York) to
everyday actions. Individual choices matter: According to
report voluntarily to the UN on its implementation of the
recent studies, in order to stop further climate warming,
Sustainable Development Goals and leads the way in
every Finn should reduce their carbon footprint from 10.3
experimenting with sustainable policies and initiatives.
tonnes to 2.5 tonnes by the year 2030. If one person in each of
In addition to offering emission-free public transport options
the 2.6 million households existing in Finland would reduce
throughout the centre of the city, Helsinki is home to Flow
their carbon footprint by 20 per cent, we would reach 38 per
Festival, one of the world's leading carbon neutral music
cent of the goals set for Finland in the Paris climate
festivals; the Nordic region's first zero waste restaurant Nolla,
agreement for reducing emissions."
and non-profit foundation Compensate which was established to fight climate change by using compensation payments to
The process of developing the Think Sustainably service
donate towards international carbon sink projects.
included researching the most significant factors of ecological sustainability related to different service categories.
Laura Aalto, CEO at Helsinki Marketing, said:"Helsinki is the
These dealt mostly with greenhouse emissions caused by
perfect test-bed for solutions that can later be scaled-up for the
energy production, the impacts of mobility and food, waste
world's megacities. Operating like a city-scale laboratory,
management, factors related to circular economy, protecting
Helsinki is eager to experiment with policies and initiatives that
biodiversity, accessibility, and employment and preventing
would not be possible elsewhere. The City is able to effect
discrimination. The criteria encourage all the service
change in this way because of its compact size, well-
providers to improve their action towards a sustainable way
functioning infrastructure and well-developed knowledge-
of operating and has already resulted in several service
economy cluster. Helsinki is not finished developing its
providers making changes such as switching energy and
sustainable policies but is ready to make systematic efforts,
heating contracts to more environmentally friendly options.
both big and small, which work towards achieving a more
The aim of the criteria was also to be accessible to many
sustainable world, we hope that others can also learn from our
different types of service providers because the City of
Helsinki believes that everyone should have the opportunity to be part of a bigger wave of change.
The version of Think Sustainably launched in June 2019 is a pilot service and for now includes 81 participating service
Tia Hallanoro, Director of Brand Communications & Digital
providers. The programme will be further developed to include
Development at Helsinki Marketing said: "Locals in Helsinki
a larger range of sustainable choices from restaurants to
are very concerned about climate crisis, over two thirds of us
think it's the most worrying thing affecting our future. Many feel frustrated that there's nothing they can do to stop
More information: www.myhelsinki.fi/en/think-sustainably PAGE 125
LOCKHEED MARTIN AWARDS $3 MILLION TO UNIVERSITY OF MARYLAND TO SUPPORT AEROSPACE INNOVATION AND DIVERSITY Bethesda-based Lockheed Martin has signed a $3 million
Engineering, and we are proud to continue our relationship as
charitable commitment to the University of Maryland A.
the recipient of Lockheed Martin's largest gift of the year to
James Clark School of Engineering.
any institution," said Darryll J. Pines, Clark School Dean and Farvardin Professor. "This generous gift will empower Clark
The three-year contribution will fund vertical takeoff and
School students and faculty to remain at the forefront of
landing research conducted at the university's rotorcraft lab,
innovation in aerospace technology, and to advance our
and high-speed flight experiments up to Mach 8, or 6,000
commitment to a diverse and inclusive engineering
mph, at the school's hypersonic wind tunnel. It will also
underwrite programs overseen by the Clark School's Center for Minorities in Science and Engineering that aim to increase
Since 2010, Lockheed Martin has funded more than $19
the enrollment of women and under-represented minorities
million in research and philanthropy at the University of
in Science, Technology, Engineering and Math (STEM)
Maryland. The $3 million contribution announced today is in
addition to that investment.
"For 75 years, Lockheed Martin has played a significant role
"Lockheed Martin has partnered with the University of
in the storied history of the A. James Clark School of
Maryland for more than seven decades, and we are proud to PAGE 126
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Lockheed Martin continue that successful relationship with this contribution supporting aerospace innovation," said Lockheed Martin Chief Technology Officer Keoki Jackson. "We expect to hire 50,000 STEM professionals over the next decade, and together we will inspire the next generation of engineers to join us in creating breathtaking generation-after-next technology." Earlier this year, Lockheed Martin awarded scholarships to nine University of Maryland students pursuing majors in engineering or computer science as part of its new STEM Scholarship Program. The students will receive up to $40,000 in total scholarship funding, or $10,000 per school year, from Lockheed Martin, and they are eligible for paid Lockheed Martin internships. Lockheed Martin's partnership with the University of Maryland dates back to 1944 when Glenn L. Martin funded four buildings, including the Glenn L. Martin Wind Tunnel and Glenn L. Martin Hall. Today, Lockheed Martin employs over 600 University of Maryland graduates holding nearly 700 degrees, and it has a formal collaboration agreement in place with the school to research, develop and design advanced technology systems, products and services. The University of Maryland A. James Clark School of Engineering The A. James Clark School of Engineering is the engineering college of the University of Maryland, College Park. The school consists of fourteen buildings on the College Park campus and covers over 750,000 square feet and is home to eight different departments. The departments include Aerospace engineering, Bioengineering, Chemical and Biomolecular engineering, Civil and Environmental engineering, Electrical and Computer engineering, Fire Protection engineering, Materials Science and engineering, and Mechanical engineering. Lockheed Martin Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 105,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. Every day, we come to work with one focus – our customers’ missions. Whether it's protecting citizens or advancing the boundaries of science, these missions are some of the most important and challenging in the world. We bring an unwavering commitment to help our customers succeed, and it’s that sense of purpose and opportunity to make a difference in the world that drives us every day. Website: www.lockheedmartin.com PAGE 127
QATAR MEANS BUSINESS - DISCOVER THE LAND OF OPPORTUNITY The State of Qatar is a sovereign and independent state in
Topography: The land mainly consists of a flat rocky plain,
the Middle East, occupying a peninsula that juts into the
covered with a range of low limestone outcroppings in Jebel
Arabian Gulf. Since its complete independence from Britain
Dukhan in the west and Jebel Fuyart in the north. This plain is
in 1971, Qatar has emerged as one of the world’s most
mostly marked by its many inland seas (Khors), bays and
important producers of oil and gas.
basins called (al-Riyadh) over the northern and middle areas that are considered to be the most fertile lands housing
It is an Islamic State whose laws and customs follow the
different natural plants.
Islamic tradition. Since 2013, the country has been governed by HH Sheikh Tamim bin Hamad bin Khalifa Al-Thani.
Area: Qatar occupies an area of 11,521 square kilometers.
Location and geography: The State of Qatar is a peninsula
Population: Qatar has a population of approximately 2.3
located amid the western coast of the Arabian Gulf.
The peninsular is approximately 100km across and extends 200km into the Gulf. Qatar includes several islands the
Capital City: Qatar’s capital city is Doha (in Arabic, ad-Dawḥa,
largest of which are, Halul, Shraouh and Al-Asshat.. shares its
which means ‘the big tree’).
southern border with Saudi Arabia and a maritime border
Major Cities: Doha (capital), Al-Wakrah, Al-Khor, Dukhan, Al-
Bahrain, the United Arab Emirates and Iran.
Shamal, Msaieed, Ras Lafan and others. PAGE 128
procedures for licensing the construction of business centers,
Since the mid-1800s, Qatar has grown from a poor British
issuing business licenses and offering incentives to foreign
protectorate known for pearling into one of the world’s most
important oil and gas producing countries. While there is increasing investment in non-energy sectors, oil and gas still
Qatar’s adoption of an open and diversified economy has
account for more than half of the Gross Domestic Product.
contributed to bolstering its investment environment through
Due to its substantial reserves of oil and gas, the country has
the launch of major projects that reflect the success of public-
one of the highest incomes per capita in the world.
private partnerships and provide promising investment opportunities in the logistics, food security, education, health,
Qatar is one of the fast-growing regional economies and
tourism and sports sectors.
among the most promising globally, maintaining balanced growth rates despite various global challenges. Over the past
few years, the State has succeeded in consolidating Qatar’s
- Non-Qatari Investors may be exempted from the income tax
position on the global economic map under the guidance of
for a period up to ten years.
His Highness the Emir Sheikh Tamim bin Hamad al-Thani.
- Non-Qatari investors may be exempted from customs on the
Qatar is currently pursuing its journey towards establishing a
imports of necessary machinery and equipment.
diversified, competitive and knowledge-based economy in
- Land can be allocated for a foreign investment project by
line with the Qatar National Vision 2030.
way of renewable rent for a long renewable period of not more than 50 years.
Qatar’s economic policies have provided support for various
- Non-Qatari investors in the industrial field may be exempted
sectors and bolstered their contribution to economic growth,
from customs fees on imports of raw materials or half
thus strengthening and enhancing investor confidence in the
manufactured goods necessary for production and not
national economy. Qatar has been keen on developing a
available in the local market.
promising investment environment in priority sectors of the national economy, supported by an administrative and
Priority Investment Sectors
legislative system conducive to doing business and an
Energy, Tourism, Information technology, Industrial, Health,
appropriate legislative framework for business development
Consultancy & Technical Services, Education, Agriculture,
Development & exploitation of natural resources, Mining, Distribution, Sports, Recreational, and Cultural Services.
The State is seeking to ratify laws that allow foreign investors to implement fully-owned investment projects in various
Qatar Chamber: Established in 1963 Qatar Chamber of
sectors, The state has also developed an investor-friendly
Commerce & Industry (QCCI) is one of the oldest chambers in
business environment, through the launch of several
the GCC countries. Its main role is to organise business
initiatives, including the creation of a single window for
interests and represent the Qatari private sector locally and
investor services, providing advanced electronic services for
globally as well as support the country’s economic actors and
business incorporation, identifying and streamlining
productivity. Website: www.qatarchamber.com PAGE 129
US-ISRAEL COMPANIES PARTNER TO TAKE RENEWABLE ENERGY MICROGRIDS INTO THE AI AND MACHINE LEARNING AGE The commercialization project marks the international
feasibility studies are filled with disclaimers and closing the
collaboration between Introspective Systems and
gaps of uncertainty is crucial. Microgrid designs are unique
Brightmerge to advance the performance of microgrids.
and therefore it is difficult to scale-up the process of those studies without the use of technology."
Introspective Systems, LLC announced that it has finalized its contract with the Binational Research and Development
Daniel Schwab, Founder and CEO of Brightmerge, stated
Foundation (BIRD US-Israel Foundation) to begin a
"After spending almost 20 years in the renewable energy
commercialization project with its Israel-based partner,
industry, it has been clear to me that microgrids are the
Brightmerge. The companies will leverage their areas of
architecture of the future energy system."
expertise to create an end to end AI-based data solution for
"Brightmerge and Introspective Systems have the industry
Microgrid design, development, and operations.
knowledge and technological know-how to provide seamless solutions that bring entire economies into the digital age of
"The process of developing microgrids can be costly.
energy," Schwab said.
It begins with a feasibility study reaching hundreds of thousands of dollars, even before any design, procurement,
Elkana Pressler, Co-Founder, and VP of Business
and installation," said CEO Kay Aikin. "Moreover, those
Development for Brightmerge, said, "The electricity grid PAGE 130
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Renewable Energy Microgrids + AI
served humanity for over 100 years distributing energy during the fossil fuel era; this era is decaying fast. Transferring energy hundreds of miles from production to consumers is no longer the most financially efficient solution. The current electric transmission system is super expensive to build, operate, maintain and lately, to protect. Microgrids utilize the capability to create the energy wherever it is consumed. It might be a community, a campus, commercial center or even residential facilities." Keith Lehman, Co-founder and CTO of Brightmerge, believes that's where both companies come in. "This is exactly where Brightmerge enters the picture. We realize that with the right set of data, machine learning process and AI we can automate most of the feasibility stage and can significantly reduce costs during design," Lehman said. Brightmerge currently has several premium, paid pilots with large clients that understand the potential of the microgrid revolution. These clients wish to move now instead of waiting and keep losing money. The project is expected to reach alpha stage of development by Q2 2020 with first production versions ready at the beginning of 2021. About Introspective Systems, LLC Introspective Systems is the developer of xGraph, a breakthrough software platform that enables developers to build systems designed for complex software ecosystems, xGraph combines edge computing with distributed analytics to speed processing time. xGraph is AI-enabled for systems that require autonomous and collaborative decision-making to meet the challenges of complexity in areas including healthcare, IoT and energy. www.introspectivesystems.com
About Brightmerge Brightmerge develops an online cloud-based expert system that accurately predicts a microgrid system's energy and financial performance. The platform integrates data sets in one platform and automates decision making using ranking and optimization algorithms to choose the best components, suppliers, and contractors for each project. The company opened a fund round to complete the product and drive first sales. www.brightmerge.com PAGE 131
ASIA - USA
VIETNAMESE SANDALS BRAND EYEING US MARKET WITH UNIQUE BIZ MODEL
for a US trademark while positioning the sandals as a "made in Vietnam" product. Vietnam is known as the world's second largest footwear exporting country. "By applying for a US trademark, our brand is able to protect our products while enabling us to sell the sandals at a more competitive price. However, we must emphasize we are promoting this as a Vietnamese product because we want to show the world that our country's products have always been overlooked. We are wellknown to help big brands manufacture their products, but our own products have never been recognised. Through SAADO, I would like to help rectify this situation," said Phung Le Lam Hai. One month after launching on Amazon, SAADO has received many hugely positive comments with buyers calling the sandals a "highly recommended" product. But despite
SAADO, a popular Vietnamese sandals start-up that has sold 66,000 pairs of shoes and successfully entered four Asian countries within one year, is now eyeing the US market. Set up by Phung Le Lam Hai last year after realising there is high demand for fashionable, dynamic sandals that come with an affordable price tag, SAADO has proven to be popular in Vietnam, Laos, Cambodia, and Myanmar. SAADO is now preparing to enter the Indian, Nepalese and Thai markets in 2019 and 2020. SAADO Sandals Highlights - Lightweight with each pair only weighing 250 grams. - Soft pad soles made from durable Phylon material with slip resistance surface - Comfortable elastic rubber insoles. - Convenient leather straps made from parachute cloth which is absorbent and quick drying. - Long-lasting, tear-off straps. Last month, SAADO tested the US market by launching its products on Amazon, using the strategy "US Brand, Vietnam Soul". This strategy comprises of applying
running such a successful start-up, Phung said he has no plans to set up physical shops to sell his products. "My goal is to turn SAADO into the 'Uber in Retail' and establish a platform to help young people learn how to run a business. The education system in Vietnam doesn't offer concrete experience and I would like to provide opportunities for future generations, to provide them with the hope of running an internationally recognised business. These inspired entrepreneurs only have to bring in the orders and we will back them up with the customer service, logistic and warehouse requirements. After they succeed, they can create their own stores. My motto is 'Don't open a store to sell a few pairs of shoes, sell 1,000 pairs before opening one,'" explained PAGE 132
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SAADO Sandals Phung. Driven by values, SAADO's chief hopes to instil in all his partners that being successful is not measured by monetary value. Rather it is to ensure everyone involved in the production chain is being looked after. "I couldn't find happiness even though I had been earning more and more money. It wasn't until I started helping others, I found true happiness. Do what you haven't thought of doing to receive the result of a lifetime's values," said Phung. So far, SAADO has business partners in 40 out of 64 provinces in Vietnam. Apart from Vietnam, SAADO also plans to build up its business partner network around the world. Phung said they will be meeting with interested parties who are looking to learn about business operations and help them grow their own businesses in the local market with SAADO. SAADO's unique business model won the Best Innovators Award in Asia last year and the company was selected to be one of the three Vietnamese start-ups to present its business plan to the global international SEPT Program of Leipzig University. The German event was attended by entrepreneurs as well as end customers. Website: www.saadoshoes.com
19 YEAR OLD LAUNCHES THE WORLD'S FIRST "CHICKEN" NUGGET STARTUP AND SECURES $7 MILLION IN FUNDING 19-year-old founder Ben Pasternak Announces $7M Funding
including eggs, wheat, dairy and soy. Additionally, they have a
Round led by McCain Foods to Create the Most Advanced
higher protein content (22g per serving) and are lower in
Nugget on the Planet.
calories (180 calories per serving) than regular chicken nuggets and are free from cholesterol and antibiotics.
NUGGS, the "chicken" nugget startup, announced its official launch. Founded by 19-year-old tech wunderkind and
NUGGS operates similar to a technology startup with
entrepreneur Ben Pasternak, NUGGS will disrupt the animal-
Pasternak taking a unique approach to product development.
based meat industry with its new nugget technology.
Much like an app, NUGGS will release updates to the nuggets as the formula is constantly improved on based on user
NUGGS are a more advanced version of the animal-based
chicken nuggets that have dominated the market for decades. After over a year of research and development,
"NUGGS is the intersection of food and the internet," says
NUGGS has developed a nugget that uses an advanced
Pasternak, CEO and founder. "We set out to make the best
texturized pea protein technology to create a nugget with the
nugget period, a chicken nugget simulation is just the
best texture, crunch and taste. Unlike any other nugget
baseline."Pasternak's previous success in the tech sector
currently available, NUGGS are free from major allergens,
includes being the youngest person to receive backing from PAGE 134
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NUGGS Meatless Chicken Nuggets
Silicon Valley Venture Capitalists at the age of 15. After his wildly successful app Monkey was acquired in late 2017 (which currently boasts close to 20 million users), Pasternak turned his attention to helping end factory farming. He assembled a young team as passionate as he is: Head of Product is 20year-old Liam Mullen, a self-taught molecular gastronomist who worked at Michelin Star restaurant Daniel as a pastry chef at the age of 16. Twentyyear-old social media maven Alex Michelle, with 6 million Instagram followers across her accounts, is Head of Growth. NUGGS raised $7 million in funding, led by industry giant McCain Foods, who manufactures the nuggets. "At McCain we believe NUGGS has developed an incredible product that uses plant based technology to uniquely simulate a high quality chicken nugget. A significant factor in achieving this is their approach to fast and iterative innovation, which is based on constant consumer feedback. We believe the combination of the NUGGS approach and McCain's production and commercial expertise will accelerate the brand's growth and deliver market scale," says Mauro Pennella, Chief Growth Officer at McCain Foods. Other investors include Rainfall Ventures; Greylock Discovery Fund; Maven Ventures; NOMO Ventures; M Ventures; ACME Capital; Founder of MTV and CEO of iHeartMedia, Bob Pittman; Casper Founder & COO, Neil Parikh; and Former President of Tumblr, John Maloney. To enable the startup to effectively target their most important demographic, consumers who have not yet tried animal-meat free products, NUGGS is currently only available direct to consumer, with plans to expand to retail and food service in the near future. About Nuggs NUGGS are made with a new texturized pea protein technology enabling us to create a tender and juicy nugget that is more advanced than an animalbased nugget. NUGGS ship directly to your door with FedEx 2Day® shipping at no extra cost, and can be prepared in the oven in just a few minutes. NUGGS operates like a software company. NUGGS are continuously updated by our team of food scientists and engineers in NYC. We take user feedback, find areas for improvement and as we develop new versions of the product we let our users know. Website: www.eatnuggs.com PAGE 135
THAILAND ANNOUNCES NEW PROMOTION PACKAGE TO ATTRACT INVESTMENT
Thailand's economic Ministers have endorsed a package of measures, called 'Thailand Plus' which aims at attracting more foreign investment, especially to expedite investments from companies seeking to relocate as a result of the ongoing trade war, Kobsak Pootrakool, Deputy Secretary-General to the Prime Minister, said. "The new package covers comprehensive measures that will enhance Thailand's attractiveness as an investment location, including investment acceleration incentives, fiscal measures supporting STEM manpower development, deregulation, and improved pre- and postinvestment services," said Kobsak, who is also secretary of the economic ministers council. The details of the proposed Thailand Plus Package can be summarized as follows: 1. Enhanced investment incentives: Investment projects worth at least 1 billion baht (around USD 32.26 million) in the identified activities submitted to the Thailand's Board of Investment (BOI) by the end of 2020 will be entitled to additional 5 years of 50% reduction of corporate income tax given that at least 1 billion baht of actual investment is put in place by December 2021. 2. STEM Manpower development support: Employers will be eligible to special deduction of training expenses related to advanced technology endorsed by the Ministry of Higher Education, Science, Research and Innovation in order to expedite reskilling and upskilling of the workforce. Expenses spent hiring new highly skilled manpower, in fields of science and technology will also be entitled to special deduction.Moreover, the Board of Investment will also upgrade its incentives scheme with a view to encouraging the industry to be actively engaged in STEM training. 3. Automation investment support: Investments in automation systems will be entitled to double deduction with a view to further strengthening and accelerating transformation of Thailand's industry. PAGE 136
4. Enhanced investment facilitation: An investment steering committee, chaired by the Prime Minister, will be set up to coordinate the consideration and facilitation of the investment projects, especially those involving large investments. "Thailand's economic development policy is in line with South Korea's New Southern Policy, China's Belt and Road Initiative, the Indo-Pacific strategy of Japan and the United States, and India's Look East Policy. Thailand is also a prominent hub linking the countries in mainland Southeast Asia, or CLMVT (namely Cambodia, Laos, Myanmar, Vietnam and Thaila nd), and ACMECS (Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy) area," said Mr. Kobsak BOI Secretary General, Duangjai Asawachintachit, also added that in order to increase the ease of doing business in the country, the government aims to reduce constraints faced by foreign investors, especially in target industries. Further facilitation measures will also be added such as the extension of "smart visa" to enhance the pool of foreign talents in Thailand. "This Thailand Plus package is expected to help Thailand attract more targeted investments. The proposed investment incentives by the Board of Investment that were discussed will be submitted to our Board for final approval at the upcoming meeting," said Ms Duangjai. About The Thailand Board of Investment The Office of the Board of Investment is a government agency under the Office of the Prime Minister. Its core roles and responsibilities are to promote valuable investment, both investment into Thailand and Thai overseas investment. FDI stock in Thailand has soared from USD 95 billion in 2008 to USD 219 billion; boasting a compounded annual growth rate (CAGR) of 9.72% over the decade. This growth is expected to continue throughout 2020. Thailand has the momentum to be an even stronger base for trade and investment. Website: www.boi.go.th
GLOBAL BUSINESS LEADERS SEE OPPORTUNITIES IN NORTHEAST ASIA With the theme "Enhancing Mutual Trust and Cooperation
Democratic People's Republic of Korea, Japan, the Republic of
to create beautiful prospects for Northeast Asia", the 12th
Korea, Mongolia and Russia. It is also open to the world. It has
China-Northeast Asia Expo, took place at the end of August
become an important channel for dialogue and exchange
in Changchun, capital of northeast China's Jilin Province.
among governments in Northeast Asia, a key platform for regional economic and trade cooperation as well as people-to-
It is widely believed that, Northeast Asia, one of the most
people exchanges for Northeast Asian countries, and a
dynamic regions in the world, has various favorable factors
significant window for China's northeastern region to deeply
converging in this region. The cooperation and development
integrate itself into the joint construction of the Belt and Road.
in Northeast Asia faces new opportunities in inter-connectivity of infrastructure, local government cooperation and people-
Northeast Asia has a total population of nearly 1.7 billion and
to-people exchanges. All countries in the region need to make
accounts for about one-fifth of the world's GDP.
active efforts to push for regional prosperity and make unique
The economies of the countries in the region are highly
contributions to shoring up global economy.
complementary and have great potential for cooperation. Statistics show that in 2018, China's trade with the five
The China-Northeast Asia Expo is the only state-level
countries in Northeast Asia totaled 758.57 billion U.S. dollars,
international comprehensive exposition in the region with the
accounting for nearly a quarter of China's total foreign trade.
joint participation of six countries, namely: China, the
China is the main trade partner of the Northeast Asian states. PAGE 138
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North East Asia
Kwon Goo-hoon, chairman of the North Economic Cooperation Commission of the ROK, said the ROK is willing to play a linkage role between the mainland and the sea through cooperation with China, Russia, Mongolia and other countries. Under the framework of the Belt and Road Initiative, the ROK is willing to make use of its advanced construction technology and operational capability and combine with the extensive network of Chinese investment to create huge synergic effect. Leonid Slutsky, chairman of the Russian State Duma's international affairs committee, underlined cooperation and dialogue at the Highlevel Forum on Northeast Asia Cooperation. He invited participants of the expo from different countries to the exhibition area of Russia at the expo and tap the development opportunities of Russia's Far East. Wang Shouwen, China's vice minister of commerce, said the Chinese side is willing to work with the member countries of the Greater Tumen Initiative (GTI) to strengthen the dovetailing of development strategies, advance practical cooperation and bring GTI cooperation fruits to people in the region, push the transformation of GTI toward an independent international organization to create a future of greater prosperity for Northeast Asia. Other regions such as Europe also paid much attention to the expo, which organized the Czech Day event to promote exchange between enterprises in Northeast Asian countries and Europe. The EU attaches great importance to cooperation with Northeast Asia and there will be a business delegation to China to hold exhibitions and exchanges in Changchun next May, said Walter Doring with the EU economic senate. Northeast Asia Local Cooperation Roundtable is one of the important activities of the 12th China-Northeast Asia Expo. The Changchun Consensus, as a key outcome of the conference, calls on local governments in Northeast Asia to make efforts to build an efficient regional transportation and logistics network and actively build a sea, land and air corridor in Northeast Asia.Since its establishment in 2005, the China-Northeast Asia Expo has attracted senior officials from more than 100 countries and regions, and 720,000 businessmen from more than 130 countries and regions. The number of overseas clients has stood at around 10,000 for the event, which has also attracted a great number of world top 500 companies. Website: www.en.cneaexpo.org PAGE 139
CONNECTED FOOD: "COLLABORATIVE AND INSIGHTFUL" DATA USE IS THE FUTURE OF AGRICULTURE
solutions: it's simply not their strong point. "A lot of agribusinesses have spent quite a lot of money over the past few years coming up with their own data platforms," he said. "A lot of the time that's really been a bit of a distraction from their core business function. I think they've made a classic mistake in many instances of trying to create proprietary solutions and burning a lot of time and money doing it. Many are waking up to the fact that this is an unnecessary and costly distraction." Every link in the supply chain – from manufacturers through to farmers – stands to benefit from an industry that is connected and dynamic in their use of data. For farmers, this means a more informed and reliable supply chain behind them, in addition to the valuable data insights that help them to be more compliant, efficient, and profitable. In particular, this will also help alleviate some of the pressures relating to climate change, making the required
As part of the London major summer exhibition AI: More than Human, the Connected Food panel brought together industry experts to discuss food production and farming, and how we will grow, harvest and distribute food in the near future. As part of the panel, Lindsay Suddon – Chief Strategy Office at Proagrica, one of the leading global providers of integrated digital connectivity solutions for the agriculture industry – made a strong call for improved connectivity in the industry in order to drive increased value and productivity. "Data means absolutely nothing unless you have the means to ingest and analyze that data, compare it with other data, and come up with actionable insights," said Mr Suddon. "Farming is increasingly producing a lot of data… however, you often find that what's then being done with that data is very little, if anything. In itself, data is useless. You need the platforms through which data can be transformed into real insights that drive the valuable increases in compliance, productivity and profitability." In his responses, Mr Suddon addressed a key factor that has continuously undermined agribusinesses' attempts to implement their own technological
drastic structural shifts more accessible to the industry. For many agribusinesses, the will exists to mitigate the effects of climate change, but the solutions are out of reach. With complete insight into one's own business practices and infrastructure – or, at the farming end, a firmer and more precise form of agriculture that lessens waste and boosts yields – these are made accessible and intuitive. "Look at the drought affecting farmers in New South Wales," said Mr Suddon. "Look at what happened to the farmers in the MidWest of the United States with the frost and wet weather that just wouldn't go away. We've got to actually start thinking in larger ways, understanding from a wide array of PAGE 140
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Proagrica Connected Agriculture
data sources what 'good' looks like and using an understanding of what happened during certain seasonal conditions in the past to instruct our predictive analytics and make more responsive and effective decisions." At its heart – as summed up by the chair, John Oswald – the debate focused on three main issues facing the agriculture industry. Firstly, agribusinesses usually don't fully understand the value of the data they produce every day, primarily because the mechanisms by which to understand that value have largely been unavailable until recent years. Secondly, every party in the supply chain has certain responsibilities to one another, but those are often defined too vaguely and without robust systems to ensure all parties meet their obligations. Lastly, the concept of food production encompasses a lot more than we commonly believe: it's soil, it's climate, it's water, it's energy, it's culture. We can forget the complexity of it. Whatever happens in agriculture, we need a solution ready to face those large implications. Lindsay Suddon offered a more concise summary of Proagrica's vision for the farming industry: "Connected, collaborative and insightful." About Proagrica Proagrica, part of RELX Group, is a global provider of independent connectivity and data-led insight across the agriculture and animal health markets. We deliver actionable intelligence to drive business growth across the value chain. Our superior products and services connect and empower industry participants to address their key needs around trading, productivity and compliance. Our solutions are built around the key competences of data connectivity and data analytics delivering seamless supply chain management, supply chain standards compliance, and customer insight and engagement, essential for businesses looking to improve their value offering and expand in the modern marketplace. Proagrica also encompasses performance-boosting farm management software brand Farmplan, and industry-leading media platforms, including Farmers Weekly. Your business can become more informed, efficient and connected through improved data analytics. Visit www.proagrica.com About RELX RELX is a global provider of information-based analytics and decision tools for professional and business customers. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs over 30,000 people, of whom almost half are in North America. For more information: www.relx.com PAGE 141
GAUTENG THE EPICENTRE OF AFRICAN TRADE, GOOD BUSINESS STARTS HERE. Gauteng is one of the nine provinces of South Africa, it is South Africa’s economic engine, contributing more than one third to the national GDP. Gauteng province covers just 1.4% of South Africa’s land area but it produces about a third of South Africa’s gross domestic products (GDP). It is highly urbanised with more than 12.2 million people living within the province’s borders, accounting for almost one quarter (23.7 percent) of the total South African population. The province is the central hub for commercial activity in the country, whereas mining used to account for Gauteng’s dominance of the regional economy, the province is now a leader in a wide range of other sectors: finance, manufacturing, commerce, ICT and media among them. It houses most of the manufacturing and financial services headquarters within its boundaries. There are numerous reasons to invest in Gauteng: - Access to African markets. - Functional national institutions protecting the right of investors. - Clear and consistent economic policies in line with national policies. - Good infrastructure and facilities. - World-class road, rail and air networks. - An investor-friendly environment. - A large pool of young, highly skilled labourers, whose skill sets match the needs of modern manufacturing, finance, and engineering industries. - Low land and commercial building costs. - Electricity among the cheapest in the world.
Gauteng offers investors great opportunities through multiple locations for industrial and commercial business and welldeveloped infrastructure. Gauteng’s reputation as a manufacturing powerhouse has been enhanced in recent years as a number of local and international companies have set up new companies in the province. The manufacturing sector employs around 600 000 people in more than 9 000 enterprises. Manufacturing extends from the heavy-steel industry clustered around Sedibeng area, through PAGE 142
Gauteng is not just an important centre of economic activity in itself, it is also an important launching pad for local and international businesses to enter the African markets.
the medium industries associated with automotive
Although mining no longer holds the dominant position it
manufacturing, assembly and parts, mostly in Tshwane
once did, Gauteng’s contribution to the country’s gold and
area and the food and beverages industry in most parts of
diamond production is still significant, and the province’s
the province to lighter industry in Ekurhuleni municipality.
mines account for about 21 % of employment in the sector nationally. The other primary sectors are spread across
Gauteng is not just an important centre of economic
Gauteng. In broad terms, the following geographical
activity in itself, it is also an important launching pad for
division of economic activity holds true for Gauteng.
local and international businesses to enter the African markets. The country’s biggest airport, OR Tambo
In the provincial capital, Johannesburg, financial services
International Airport, is at the core of the province’s
and commerce predominate. Tshwane (which includes
logistical networks. Other airports include Rand Airport
Pretoria) is home to many government services and is the
(Germiston), Lanseria (North of Johannesburg),
base of the automotive industry and many research
Wonderboom (Pretoria and Grand central (Midrand).
institutions. Ekurhuleni metropole has the largest
Ekurhuleni Metropolitan Municipality plans to build an
concentration of manufacturing companies in the country,
“aerotropolis” in partnership with the provincial
ranging from heavy to light industry. The western part of
government and private investors. The intention is to link
the province is concerned mainly with mining and
the airports of OR Tambo and Lanseria, and expand
agriculture, while around Vereeniging and Vanderbijl Park
logistics capabilities. Gauteng’s already strong position as
has a combination of maize farming, tobacco production
a logistics hub is the focus of several developments.
and heavy industria; work associated with steel and iron-
New inter-modal terminals are being built at Sentraraad
and Tambo Springs, both of which will massively increase container-handling capacity.
About the Gauteng Growth and Development Agency The GGDA’s purpose is to grow the economy by
Gauteng is divided into three metropolitan municipalities:
positioning Gauteng as a Globally Competitive City Region.
City of Johannesburg, City of Tshwane and Ekurhuleni.
It aims to demonstrate leadership in implementing key
In turn, there are two district municipalities within the
programmes and provide support for the development of
boundaries of the province, which are divided further into
key sectors of the economy. Key to this is:
a number of local municipalities as follows:
- Support growth of the cooperatives economy.
- Sedibeng District Municipality (Emfuleni, Lesedi and
- Facilitation of trade and investment.
Midvaal local municipalities).
- Increased strategic economic infrastructure.
- West Rand District Municipality (Merafong City, Mogale City, Randfontein and Westonaria local municipalities).
Website: www.ggda.co.za PAGE 143
launched in a comprehensive package, including a 360° swivel chair and a robust
CYBERSHOES®: THE NEXT LEAP INTO VIRTUAL REALITY © Cybershoes GmbH: Opening up the grand possibilities of VRTournaments on stage for everyone
matching carpet. They will soon be available at major online retailers for every VR fan to enjoy. When trying out virtual reality systems, the first thing new users experience is that using conventional VR controllers and their implemented game mechanics, moving around is counter-intuitive and rather difficult. Currently, moving great distances in virtual worlds is possible by using directional pads/buttons on the VR headset's controller to move the character or simply "teleport" the character. This often induces motion sickness, because our heads bounce just slightly when we're walking naturally. Our crucial inner-ear feedback for balance (using our vestibular system) is lost when moving with controllers. Today's common VR movement accessories such as treadmills are heavyweight, expensive, loud, and are not easily set up for home use, nor comfortable for long sessions. Setting up Cybershoes, on the other hand, couldn't be more intuitive. Users can strap the VR-gear directly to their shoes using the bindings – just like a snowboard – and take a seat on the 360° swivel chair. Next, users
Cybershoes®, the virtual reality accessory by the Austrian tech start-up of the same
attach their favourite headset and start
name, Cybershoes GmbH, will meet VR enthusiasts at the gaming fair gamescom
walking, running and even jumping on the
2019 with its latest, ready-to-be-shipped design.
virtual grounds. Cybershoes support the SteamVR platform – now compatible with
In addition to walking and running and turning around in 360 degrees, now a new
the Valve's treadmill support as well.
"jumping" feature is supported, so that users can enjoy even more freedom of movement in virtual environments. They can now step into their virtual
They are also compatible with any VR game
spaceships, run away from zombies, or jump right into fantasy worlds.
that allows free movement via controllers, and are usable with most common VR
Cybershoes presented their prototype at last year's gamescom. It gained a lot of
headsets including HTC Vive, Oculus Rift,
attention and was nominated for the Best Hardware award – alongside well-
Windows Mixed Reality and Pimax.
known industry giants. Today, the third and final redesign of the Cybershoes is PAGE 144
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The virtual footwear enables all thinkable natural movements in any direction, such as running forward to chase an opponent while looking back or sideways. Thanks to the sitting position, as opposed to of standing, Cybershoes enable far longer VR sessions without causing the users to become tired, while at the same time helping them exercise their legs. VR fans will especially appreciate the increased immersion in roleplaying games with open world designs. The new longitudinal ribs ensure significantly better manoeuvrability in the game - and do not diminish the pleasure of sprinting forward quickly. Up until today, Cybershoes has been thoroughly tested by approximately 4000 individual users, including at successful international events such as E3, CES and gamescom. "VR is an endless space, but until recently, users weren't able to walk naturally in it. Joystick movements make people dizzy and teleportation ruins the whole immersion. We experimented quite a lot and now have our third and final redesign ready for retail launch. Our solution is easy and practical for home use. I can attest that it offers an immersion that even VR veterans will find hard to escape," says Michael Bieglmayer, CEO of Cybershoes. When Cybershoes got into Kickstarter last year, it was funded in just two hours. Until the Cybershoes hit the shelves near you, you can check out the successful Indiegogo campaign launched by Cybershoes GmbH by visiting the company's website. About Cybershoes GmbH Four years ago, Michael Bieglmayer began developing a solution for locomotion in virtual worlds. With Igor Mitrić, Doris BauerPosautz, Andreas Kern, Nanda Ithaler, Birgit Kunz, Georg Löffelmann, Liam Weinbrenner and Realonaut GmbH, he built up a team of specialists that has implemented the idea of highquality, easy-to-use and lifelike VR shoes. Austria Wirtschaftsservice and the Vienna Business Agency support the development of the virtual footwear. Cybershoes GmbH was founded in May 2018. Website: www.cybershoes.io PAGE 145
SUGARFINA CONTINUES GLOBAL EXPANSION WITH MEXICO PARTNERSHIP Sugarfina®, the luxury confections boutique founded in
Own Candy Bento Box® experience, where shoppers can
Beverly Hills, CA, will expand operations to Mexico with a
select an 8-piece, 4-piece, or 3-piece gift box to fill with their
deal to open 26 boutiques over the next 5 years. The brand
favorite candies from the signature Candy Cube® wall.
will partner exclusively with GIN Group, the prominent franchise operator, to introduce its unique, gourmet sweets
"We've been dreaming of expanding Sugarfina® globally since
in Mexico for the very first time. The multi-channel
the early days of the brand," said Rosie O'Neill and Josh
partnership will launch first with boutiques in Mexico City
Resnick, co-Founders and co-CEOs of Sugarfina®. "Mexico is
followed shortly thereafter with a dedicated eCommerce site
the window into Latin America and GIN Group is the ideal
and wholesale partnerships.
partner to establish our brand in the region. We're excited to partner with them to bring Sugarfina® to life in one of the
Sugarfina® is best known as a disruptor in the $200B global
most vibrant cities in the world and strengthen our presence
confections industry for creating luxury treats for adults,
across North America."
including a cocktail candy collection with Champagne Bears®, Single Malt Scotch Cordials, and Rosé All Day® Bears
"[My wife] Liz and I have been loyal consumers of the brand
whose popularity led to an 18,000+ person waiting list in the
for years," said Raul Beyruti Jr., CEO of GINgroup WTC. "We
US. The boutique features a collection of beautiful candies
are confident that Sugarfina will be a successful brand in
artfully displayed in modern Lucite cubes and a Design Your
Mexico as it is in America, and it will be a unique and PAGE 146
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rewarding experience for all of us. We really are excited to bring Sugarfina to Mexico, as a great addition to our portfolio." About Sugarfina: Sweethearts Rosie O'Neill and Josh Resnick have dreamed of opening a luxury candy boutique ever since their third date, a screening of Willy Wonka and the Chocolate Factory. Inspired to create the first-ever candy store for grown-ups, the couple traveled the world in search of the finest candy makers to produce their exclusive and inventive line of confections. Best known for Champagne and Rosé-infused gummy bears, Sugarfina has been named "World's 50 Most Innovative Companies" and "World's 10 Most Innovative Retailers" by Fast Company as it disrupts the $200B confections industry. Recognized as one of the "World's Most Beautiful Candy Shops" by Architectural Digest, Sugarfina opened its first boutique in Beverly Hills in 2013 and now has more than 50 locations across North America in major cities such as Los Angeles, New York, Boston, Chicago, and Vancouver, plus two overseas boutiques in Hong Kong. Website: www.sugarfina.com About GIN Group: GINgroup, led by Dr. Raúl Beyruti Sanchez, is the biggest group in Mexico and Latin America when it comes to the comprehensive management of human capital, due to its high degree of commitment, professionalism and wide service portfolio. GINgroup has been in this field for 38 years, and has over 162,000 employees globally, 13 centers of operation, and presence in the U.S., Canada, Panama, Dominican Republic, Colombia, Peru, Chile, and Spain. With more than 70 affiliate businesses, GINgroup has experience in a variety of different industries such as: food & beverage, retail, fashion, insurance, media, fintech, finance, healthcare, and more. Website: www.gingroup.com PAGE 147
BUNGE AND BP TO CREATE A LEADING BIOENERGY COMPANY IN BRAZIL The joint venture, to be called BP Bunge Bioenergia, will operate on a stand-alone basis, with a total of 11 mills located across Brazil, and with 32 million metric tonnes of crushing capacity per year.
the joint venture at closing, and $75 million from BP, subject to customary closing adjustments. The proceeds will be used to reduce outstanding indebtedness under the Company's credit facilities, resulting in a stronger balance sheet and greater financial flexibility. The deal progresses Bunge's strategy to optimize its portfolio. Gregory A. Heckman, Bunge's Chief Executive Officer, said, "This partnership with BP represents a major portfolio optimization milestone for Bunge which allows us to reduce our current exposure to sugar milling, strengthen our balance sheet and focus on our core businesses. We have a strong, committed partner in BP, as well as flexibility in the medium and long term for further monetization, with full exit potential via an IPO or other strategic route." The joint venture, to be called BP Bunge Bioenergia, will operate on a stand-alone basis, with a total of 11 mills located across the Southeast, North and Midwest regions of Brazil. With 32 million metric tonnes of combined crushing capacity per year, the joint venture will have the flexibility to produce a mix of ethanol and sugar. It will also generate renewable electricity -
-- Major portfolio optimization milestone for Bunge.
fuelled by waste biomass from the sugar
-- Brings together established industry players with complementary assets
cane - through its cogeneration facilities to
and experience in one of world's largest fast-growing biofuels markets.
power all its sites and sell surplus electricity
-- Creates highly-efficient producer of ethanol and low-carbon biopower, with
to the Brazilian power grid. BP and Bunge's
opportunities for synergies, operational improvements and future growth.
assets are largely complementary, with sites in five Brazilian states including three in the
Bunge Limited a leader in agriculture, food and ingredients, has announced an
key region of São Paulo. The combined
agreement with BP plc to form a 50:50 joint venture that will create a leading
business will be ranked the second largest
bioenergy company in Brazil, one of the world's largest fast-growing markets for
player in the industry in Brazil by effective
biofuels. Bunge will receive cash proceeds of $775 million in the transaction,
comprising $700 million in respect of non-recourse Bunge debt to be assumed by PAGE 148
Dev Sanyal, chief executive of BP Alternative Energy, said:
Joint venture will operate on a stand-alone basis; and upon
"Biofuels have a key role to play in the energy transition
the closing of the transaction, Bunge will no longer
and Brazil is leading the way by developing this industry at
consolidate its sugar and bioenergy operations in Brazil in its
scale. In one step, this agreement will allow BP to significantly
consolidated financial statements.
grow the size, efficiency and flexibility of our biofuels business
Bunge will account for its interest in the joint venture under
in one of the world's major growth markets. With our shared
the equity method of accounting.
commitment to safety and sustainability, the combination of BP and Bunge's assets and expertise will allow us to improve
Approvals and Closing Timeline
performance, develop options for growth and generate real
The transaction has been unanimously approved by the Board
value. BP Bunge Bioenergia will be well-placed to play a
of Directors of Bunge. Closing of the transaction is expected in
significant part in meeting Brazil's growing demand for both
the fourth quarter of 2019, subject to customary conditions,
biofuels and biopower."
including receipt of required regulatory approvals.
Following completion, the aim is for BP Bunge Bioenergia to
generate significant operational and financial synergies,
Itaú BBA is acting as exclusive financial advisor to Bunge, and
including through scale efficiencies and by applying best
Lefosse Advogados is acting as legal counsel.
practices, optimised technologies and operational capabilities across all the assets of the new business.
About Bunge Limited Bunge is a world leader in sourcing, processing and supplying
The new business is expected to be headquartered in Sao
oilseed and grain products and ingredients. Founded in 1818,
Paulo. Mario Lindenhayn from BP will be Executive
Bunge's expansive network feeds and fuels a growing world,
Chairman, Geovane Consul from Bunge, will be Chief
creating sustainable products and opportunities for more
Executive Officer (CEO). BP and Bunge will have equal
than 70,000 farmers and the consumers they serve across the
representation on the Board of Directors.
globe. The company is headquartered in New York and has 31,000 employees worldwide who stand behind more than
360 port terminals, oilseed processing plants, grain silos, and
50:50 joint venture between BP and Bunge's Brazilian sugar
food and ingredient production and packaging facilities
and bioenergy production businesses.
around the world.
$775 million of total cash proceeds to Bunge from the transaction.
For more information, please visit: www.bunge.com PAGE 149
GANTRI INTRODUCES WORLD'S FIRST 3D PRINTER DESIGNED FOR MANUFACTURING CONSUMER GOODS AT SCALE Gantri's Patent-Pending Dancer™ 3D Printer Sets the
manufacturing system in producing high-quality consumer
Stage for Just-In-Time Consumer Goods Manufacturing
grade products. Dancer is the first 3D printer in the world
and Aggressive Growth.
specifically designed to manufacture consumer-grade products at the quality and speed that Gantri requires."
Gantri, an award-winning, direct-to-consumer designer lights manufacturer, has unveiled its first 3D printer named "Gantri
Starting in November 2019, Gantri will start migrating its
DancerTM." Patent-pending, Gantri Dancer is the world's first
entire printer fleet to Dancer at the Gantri Factory in San
commercial multi-gantry cylindrical 3D printer. It leverages
Leandro, California. As a result, Gantri estimates that the
four gantries and a rotating circular build plate to print up to
average "Made for you" production lead time will decrease
four times as fast as best-in-class desktop 3D printers today,
from about four weeks currently to two weeks.
while maintaining a high standard of product quality. "Dancer is an amazing innovation. It combines advanced "Gantri's mission is to empower designers to create by using
hardware, software and industrial engineering to make fused
advanced technologies," said Christianna Taylor, PhD and
deposition modeling (FDM) 3D printing drastically more
CTO at Gantri. "Our goal is to push for the adoption of digital
efficient. In addition, we are investing in advanced robotics
manufacturing as a viable alternative to today's industrial
and AI to further improve our manufacturing platform from PAGE 150
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start to finish. This will allow us to diversify materials and categories for our designers and customers," added Christianna Taylor, PhD and CTO at Gantri. How It's Different >> - Coordinated multi-gantry system - Utilizing a rotating circular build plate, all four gantries of Dancer can work together concurrently to print a single part. As a result, there is no "deadzone", or void, in the middle and it can print the same part using only a quarter of the time. - Leverage sustainable materials - Dancer is designed to utilize Gantri's exclusive corn-based PLA, which requires consistently high-temperature output to facilitate kneading. - Large build volume - At 18"R x 24"H, it's one of the largest desktop-grade printers in the world. - Complete front access - Print bed access, maintenance, and spool change are all done from the front, enabling complete automation in the near future. - Custom-designed casing - Aerospace-grade aluminium frame and polycarbonate panels offer a light, sturdy body that minimizes vibration and is quick to assemble. - Automatic 3D model translation - Gantri developed a unique translation algorithm that converts current modeling systems into Dancer's coordinated multigantry system with no additional input from the user. - Fleet-management - Dancer is wireless-enabled and connects directly to Gantri's online order system. - Made using 3D printing - Dancer is made and assembled by Gantri in California. 60% of all Dancer parts are 3D printed. About Gantri Founded in San Francisco, Gantri is an award-winning manufacturer of direct-toconsumer designer lights. We offer a new generation of lights that are exclusively created by leading global designers and sustainably made at the Gantri Factory using proprietary 3D printing. Our innovative design and manufacturing technologies give every designer the freedom to bring their unique ideas to life, making great design radically more accessible, affordable and sustainable. Shop our lights at www.gantri.com PAGE 151
HILCO GLOBAL DONATES MORE THAN $75,000 OF CHILDREN'S SHOES TO DISADVANTAGED YOUTH
Through Hilco Helps, Hilco Global has donated millions of dollars of goods, services, and financial assistance to people in need around the world. For example, Hilco Global has provided support for well-known organizations such as the American Red Cross and United Way, by donating food and medical supplies as well as financial support for hurricane disaster relief programs. In addition, they have developed college scholarship and internship programs benefitting under-served students in Chicago, Boston, and other markets in the US. In 2018, Hilco Global donated thousands of new children's toys and baby products, worth over $1,000,000. These toys were purchased from the bankrupt Toys R Us chain and distributed during the Holiday Season to underprivileged kids throughout Chicago and Boston. Additionally, Hilco Global is a sponsor for an initiative where employees help to pack and
Financial services company leverages its retail practice to help children in underserved neighborhoods throughout the US. Hilco Global announced that during the recent Payless Shoe Store going-out-ofbusiness sale, they purchased thousands of pairs of shoes to donate to local youth charities in Chicago, Boston, and New Jersey. The in-kind donation is valued at over $75,000 at retail, and the shoes are being distributed through the Hilco Global philanthropic arm called Hilco Helps. The Hilco Helps team partnered with a network of non-profit organizations to deliver the shoes into communities in which the global financial services company currently operates, including Chicago, Boston, and New Jersey. Gary Epstein, Executive Vice President – CMO at Hilco Global said: "The shoe donation to inner-city kids is the latest example of our commitment to philanthropy, which includes maximizing the impact of in-kind donations by purchasing excess inventory to provide clothing and other products to many underserved local communities across the country."
distribute over 50,000 backpacks filled with new, age-appropriate school supplies to ensure that children arrive at school on the first day prepared. Epstein continued, "At Hilco, we emphasize supporting impactful programs and activities that support children to provide a better future and break the cycle of poverty. We work with many kid-focused organizations including Youth Guidance, The All Stars Project, Cradles to Crayons, the Chicago Public Schools, and the Chicago Public Library." In 2018, Hilco Redevelopment Partners, a division of Hilco Global, purchased the former Crawford Power Generating Station PAGE 152
"Across every one of our global operating companies, Hilco Global has an unwavering commitment to charitable investments and philanthropy. Our position as a global company affords us the opportunity to support children and help lift them up in order to provide them a better future." - Jeffrey B. Hecktman, Chairman and CEO of Hilco Global.
site in Chicago's Little Village with a vision to redevelop it
About Hilco Global
into a state-of-the-art sustainable development bringing
Hilco Global (www.hilcoglobal.com) is a privately held
jobs, economic and community benefits. Maintaining their
diversified financial services company and the world's
commitment to being an upstanding corporate partner,
preeminent authority on maximizing the value of assets for
Hilco Helps recently sponsored a back-to-school shoe
both healthy and distressed companies. Hilco Global
giveaway in Chicago's Little Village neighborhood during
operates as a holding company comprised of over twenty
Project Play, a community event hosted by Beyond the Ball.
specialized business units that work to help companies
Hilco Helpers interacted with local families and distributed
understand the value of their assets and then monetize that
over 600 pairs of shoes to children in the community,
value. Hilco Global has over a 30-year track record of acting
getting these children prepared for the upcoming school
as an advisor, agent, investor and/or principal in any
year. Hilco Redevelopment Partners also has highly
transformative projects underway in New Jersey and Boston and plans on hosting similar events in those areas
Hilco Global works to deliver the best possible result by
as well, further demonstrating the company's commitment
aligning interests with clients and providing them strategic
to giving back to the communities in which they work.
insight, advice, and, in many instances, the capital required to complete the deal. Hilco Global is based in Northbrook,
Every year Hilco Helps donates millions of dollars through
Illinois, and has 600 professionals operating on five
in-kind and direct donations, as well as sponsorships that
support organizations doing outstanding work. In addition to company donations and support, Hilco Global
employees also get involved by donating time to relief efforts in disaster zones, churches, and schools across the
About Hilco Helps
Hilco Helps is a Hilco Global company-wide initiative to help improve the lives of those in need (often children) in
"Across every one of our global operating companies, Hilco
communities that are underserved. Hilco Helps is a corporate
Global has an unwavering commitment to charitable
giving program where Hilco Global puts employees and its
investments and philanthropy. Our position as a global
financial resources to work, supporting children's education
company affords us the opportunity to support children
& arts programs, urban anti-violence programs, disease
and help lift them up in order to provide them a better
prevention, and disaster relief efforts. Hilco Global actively
future," said Jeffrey B. Hecktman, Chairman and CEO of
supports two organizations that focus on education and after
Hilco Global. "We've found great success in identifying
school arts programs for Chicago's kids, Youth Guidance/BAM
charitable opportunities through the lens of our retail and
and Chicago Youth All-Stars.
wholesale inventory disposition practices and plan to continue to serve many communities in the future."
Website: www.hilcohelps.com PAGE 153
MEDELA CELEBRATED NATIONAL BREASTFEEDING MONTH WITH 650 BREAST PUMPS DONATION
"We know that social support is a big factor when it comes to meeting your breastfeeding goals. That is why we celebrate breast milk feeding families and their networks, year-round," said Melissa Gonzales, executive vice president of the Americas for Medela LLC. "This August, we stepped up efforts to celebrate all moms, and the hard-working individuals and organizations that we've partnered with to support maternal and infant health across the nation." "Medela LLC was an early supporter of Breastfeeding: Uncovered. It is an important digital narrative series documenting the experiences of breast milk feeding moms that truly reflect the modern American landscape," said acclaimed author and breastfeeding advocate, Kimberly SealsAllers. "Sustaining breastfeeding in our society often requires heroic feats. Until we understand the full spectrum of breastfeeding experiences, we can't create
Storytelling partnership with acclaimed advocate and author visualizes unique breast milk feeding experiences of moms across America. Medela Cares has given more than $1 million to organizations that support maternal and infant health. Medela LLC recently announced its support of Breastfeeding: Uncovered, a partnership between Medela and Kimberly Seals-Allers, author of the best-selling "The Big Letdown", breastfeeding advocate and health communication expert. This digital narrative series shares stories from breastfeeding moms living in situations where the decision to pump or breastfeed requires persevering through a range of obstacles: incarcerated mothers, moms raising families in Native American communities, and substance abuse withdrawal. Working with filmmaker Emma Reid, breastfeeding leader Kimberly Seals-Allers worked to create powerful vignettes to convey the power and determination that all new moms possess, the complexity of breastfeeding and what breastfeeding and pumping looks like in America today.
solutions that will impact all mamas. Spotlighting these stories is a crucial step. In the best circumstances, they face challenges on the path to meeting breastfeeding goals, but many face significant obstacles from access to care to systemic hurdles and they still persevere." Announced in August, as part of the company's commitment to support every mother's breast milk feeding journey, Medela donated 650 personal-use breast pumps to the Good+Foundation to provide breastfeeding support to the mothers they serve. Since 2015, Medela has supported more than 135 organizations committed to maternal and infant health, giving more than $1 million in funding and products. PAGE 154
"Sustaining breastfeeding in our society often requires heroic feats. Until we understand the full spectrum of breast-feeding experiences, we can't create solutions that will impact all mamas. Spotlighting these stories is a crucial step." Kimberly Seals-Allers, Author and Breastfeeding advocate . "We know that social support is a big factor when it comes to meeting your breastfeeding goals. That is why we celebrate breast milk feeding families and their networks, year-round." Melissa Gonzales, EVP of the Americas for Medela LLC.
"Our efforts to support families depend on our partners'
About Medela LLC
contributions, like Medela's incredible breast pumps,"
Medela's US-based manufacturing and development facility
said Laurel Parker West, Vice President of Programs and
is headquartered in McHenry, Illinois. Every year, more than
Operations at Good+Foundation. "With these donations,
one million mothers in the U.S. rely on Medela's technology.
many mothers and babies who might not have had access
As the #1 breast pump brand*, Medela provides the best in
to breastfeeding support, now do. We have more work to
research-based breast milk feeding products and clinical
do, and we will keep fighting for vulnerable families."
education to support moms' breast milk feeding journey.
Breastfeeding: Uncovered – Four Women, Four Journeys
The company is fully dedicated to supporting mothers so that
Breastfeeding in the U.S is a complex and compelling story.
they can provide breast milk to their baby for as long as they
The lack of a federal paid family leave policy, the impact of
choose. Medela's primary focus is breastfeeding – by helping
commercial interests, societal pressures, cultural barriers
moms to successfully breastfeed their babies and to do so for
and lingering racial disparities make the landscape for
as long as they choose. Meeting this goal responsibly is at the
breastfeeding uniquely challenging for far too many
heart of everything we do.
women. Yet the story being told about breastfeeding is often centered on mainstream experiences and lifestyles.
However, for us to truly rewrite the "story" of breastfeeding
About Medela Cares
we must begin to uncover all the chapters—the varied
Medela Cares supports maternal and infant health amidst
experiences, the realities of life and the circumstances that
critical transitions such as the return to work, coming home
truly reflect the scope of all mamas in the U.S.
from the hospital or fostering the mother-baby bond in the
This is what Breastfeeding Uncovered - 4 Women, 4
neonatal intensive care unit (NICU), with an emphasis on
Journeys is truly about. In this digital narrative series, you
serving the underserved and underrepresented and
will witness the stories of women who are breastfeeding in
populations experiencing crisis. Medela Cares provides
unique circumstances, from a prison nursery to a Native
products and educational resources to nonprofit
American reservation to a mother in recovery from opioid
organizations aligned with these goals.
addiction. This is America. And this is also our breastfeeding mosaic.
Website: www.medelacares.com PAGE 155
ALADDIN PRINT, A KOREAN COMPANY, LAUNCHES A CREATIVE BUSINESS CARD, SPOT UV FOR GLOBAL CLIENTS Aladdin Print, a well-established printing company with 20
A well-made, creative business card can be a great
years of history in creating business cards for global
conversation starter and make people look more
customers launched Spot UV. Spot UV is an added layer of
professional. People indeed enjoy scrolling through their
gloss coating that brings out the most important elements
social media with their smartphones but people love
in customers' design. The smooth, glossy coating makes text
touching and seeing the actual product as it helps to leave a
and visuals pop anywhere you like. The possibilities are
lasting impression. Business cards are great marketing tools
endless with Spot UV as customers can create a patterned
in today's society as it's portable, spreadable, and affordable.
background, enhance their logos, watermark designs, company names, and more. Spot UV business cards create a
People's business cards are the face of their brands and
unique look and feel.
represent the personality of their companies. To some people, it could be a first impression of the brand and also
Not having a business card to hand out to customers,
help to determine if the clients wish to work with them or not.
potential partners and clients means customers are missing out on opportunities. Although people live in an era where
Making a good first impression, especially in business is
everything is digital and online, business cards remain in
challenging, yet crucially important. Brand images
businesses as a tangible marketing tool.
doubtlessly make an impression and a variety of factors play PAGE 156
THE HIKE MAGAZINE
Aladdin Print introduces Spot UV
a role in this. People's business cards can definitely create an impression of their business. Perhaps a business card itself doesn't make a sale but it surely helps to make a good impression of their business and that's all it matters. A positive impression can lead to sales. Knowing that brand image matters, having the right design that truly represents people's business is important. Choosing the right color, font, design, diverse finishings all play an integral role to make the business cards visually impressive. One of the most popular and effective finishing to take customers' business cards to the next level is Spot UV. Customers can apply Spot UV to their desired area of the business cards, whether it's their logo or a specific design they want to bring to life. Spot UV is the most effective when used with the right design on dark backgrounds with high contrast colors. It helps to create a stronger visual impact. They also noted that it's not recommended to be applied on small texts or fonts as it might be too thin to be seen. Adding an eye-catching element like Spot UV can surely upgrade people's business cards and make a difference in the appearance of a boring business card. Spot UV finishing is loved by industries such as Marketing, Graphic Design, Print Shop, Real Estate, Health Clinics, and even Conservative Corporate and Law Firms. If the client is a lawyer, doctor, public accountants, or simply prefers a more conservative and classic design, they can add Spot UV to add a creative touch to it. Creating unique and stunning business cards definitely improve people's business in the long term. Business cards are not just contact information but it represent people's business and what their brand stands for. So don't forget to double-check for any imperfections as it may negatively impact your business. Make an everlasting business card to easily spread people's business to their customers and leave a positive impression to help people stand out from their competitors. Business cards are affordable, yet effective and Aladdin Print offers free express shipping worldwide to help people advertise their business. Since 1999, our mission as a commercial printer in the short run color printing market has been to surpass our client's expectations. We are establishing an excellent reputation as the frontier of online multi-item order and small quantity printing in South Korea. Our philosophy is to provide you with the highest quality product possible, with quick turnaround at a low cost. It would give us great pleasure to be your active partner. Website: www.aladdinprint.com PAGE 157
CHICAGO'S WOMEN-OWNED FINO TEQUILA BREAKS BARRIERS IN DRINKS INDUSTRY Young entrepreneurs paving the way for women in the liquor industry. Two high-spirited women are taking on the male-dominated
Patel's father, Nick Patel, a successful entrepreneur and
liquor industry with a smooth tequila from Mexico called FINO,
founder of LA TAN, inspired his daughter and friend to tap
made from 100% weber agave and no additives. Owned by
into the spirits industry with a woman-owned brand.
Chicago entrepreneurs and best friends Jana Iyer and Sonali Patel, FINO recently earned the 2019 Platinum Level
The friends named the product FINO which means "fine" or
Consumers' Choice Award at the SIP International Awards.
"smooth" in Spanish. The name FINO also carries a deeper meaning for Iyer and Patel: Failure Is Not an Option,
Iyer and Patel began importing this Mexican tequila they
harkening back to the same words reportedly spoken during
named FINO in 2018. In just 12 months, the product is now
the 1970 Apollo 13 mission.
being sold in popular liquor stores, premium bars and restaurants in three states: Illinois, Washington, D.C. and
Iyer and Patel's' goal was to create a super smooth and easy
Maryland. FINO's sales have doubled in the last six months.
tequila for consumers to sip and enjoy. They refer to it as an 'entry level' for people that typically do not drink tequila.
Close friends for years and successful in other areas of business, Iyer and Patel had no experience in or knowledge of
This smooth, distinctive, clean drink has three variations:
the liquor industry when they were introduced to an agave
Blanco, sometimes called the 'no hangover' drink, Reposado
farm in the highlands of Mexico. The duo became transfixed
and Anejo which are aged in whiskey barrels which give
with the farm, the natural process it used to create the tequila
these expressions an oaky, spicy, but still very smooth
and it's smooth, easy taste.
flavour. PAGE 158
FINO Tequila Paving the way for women in the liquor industry, Iyer and Patel are carefully choosing women to support the many aspects of their business - from bottling to packaging to sales. They aim to empower women through their passion and commitment to FINO. About FINO Tequila FINO Tequila is a Women Owned brand that is crafted with passion to provide an extremely smooth, premium, sipping TEQUILA. The term FINO, in Spanish, means fine, smooth and highquality. FINO is also an acronym for FAILURE IS NOT an OPTION. Owners, JANA and SONALI truly believe in this philosophy and it is stemmed from their exceptional dedication to their brand, FINO TEQUILA. The FINO acronym dates back to the 50’s during the Apollo 13 mission! FINO Tequila is born in Arandas, which is the main tequila production center in the Los Altos (highlands) region, and one of the two main tequila producing regions in the state of Jalisco, Mexico. FINO Tequila is created in small batches, and made with 100% agave azul, to deliver an unparalleled smooth flavor. From place and production, to people and passion, the small-batch, family distillery has been in the business for more than three generations, defining mastery and commitment to quality of the product. Website: www.finotequila.com
GYM LAUNCH CO-FOUNDERS PLEDGE $1 MILLION TO ARNOLD SCHWARZENEGGER'S 'AFTER-SCHOOL ALL-STARS' Donation will support more than 100,000 low-income
The donation will fund free Academic Readiness, Career
Exploration, Health and Wellness, Visual and Performing Arts, and STEM after-school programs for many low-income,
Alex and Leila Hormozi, co-founders of Austin-based Gym
underserved students across the nation.
Launch, have pledged to donate $1-million to Arnold Schwarzenegger's After-School All-Stars, making it the
"I started After-School All-Stars because I saw the need for
largest individual donation in the organization's history.
programs to keep our kids safe and learning between 3 and 6
This marks the Hormozis' third milestone in a larger goal to
p.m.," said Arnold Schwarzenegger, founder of After-School
raise a total $2.7-million for After-School All-Stars over the
All-Stars. "I couldn't be prouder about how we've grown to be
next three years. To date, the Hormozis have raised $200,000
a premier program provider recognized as the best in the
for the organization."As a child I spent a lot of time in after
business –– but we couldn't have done that without a lot of
school programming, and I owe my success as an
entrepreneur and fitness competitor to the mentors I met through those programs," said Alex Hormozi, CEO of Gym
The seventh annual Westime Charity Evening raised $5.3-
Launch. "They paved the way for my success, and I want
million for After-School All-Stars nationwide programming.
other children to have this same experience."
Since its inception, the fundraiser has raised $12.8-million. PAGE 160
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Gym Launch + After-School All-Stars
Gym Launch helps gym owners acquire, serve, and retain customers. Since its inception in 2016, Gym Launch has helped over 1,700 gyms across four continents achieve success with its no-nonsense recommendations. To learn more about after-school programming for youth through After-School All-Stars, visit www.afterschoolallstars.org ABOUT GYM LAUNCH: Alex and Leila Hormozi have transformed more than 1,700 gyms across four continents through Gym Launch, a coaching program that helps gym owners acquire, serve, and retain customers. We see the gym business as a single sequential flow. If you improve an earlier flow, it runs down the pipeline. We spend ALL of our resources to increase the flow. Effort and knowledge go in one side, profit and purpose flow from the other. We spend hundreds of thousands every month to test new concepts that affect every part of the business: Lead generation, lead nurture, sales, fulfilment, retention. We donâ€™t gain priceless insights and hold them hostage, but give them away instead. For more information on Gym Launch: www.gymlaunch.com Listen to the "Gym Secrets" podcast, or read the recentlypublished book, Gym Launch Secrets. ABOUT AFTER-SCHOOL ALL-STARS: Founded in 1992 by Arnold Schwarzenegger, After-School AllStars (ASAS) is a leading national provider of year-round, schoolbased, free, comprehensive afterschool programs. The organization's mission is to keep children safe and help them succeed in school and in life. Every school day, students in lowincome communities have access to free programs that allow them to increase academic readiness, explore career opportunities, implement regular health and wellness habits, practice visual and performing arts, and build STEM skills. 90,000+ children from 19 U.S. locations benefit: Atlanta, Chicago, Cleveland, Columbus, Hawaii, Las Vegas, Los Angeles, Newark, New York, North Texas, Orlando, Philadelphia & Camden, San Antonio, South Florida, Tampa Bay, Toledo, Washington D.C., Bay Area and Puget Sound. For more information, visit www.afterschoolallstars.org PAGE 161
KONKA TO ESTABLISH NEW FACTORY AS A MOVE TO CAPTURE THE MARKET IN THE MIDDLE EAST AND AFRICA KONKA, a leading Chinese home appliance company, is set to
supply chain with the sights on product and brand
establish a joint venture with the HOHO, an Egypt-based
differentiation for the local market.
home appliance company, which is followed by an investment for the construction of a new factory. Set to begin
"To expand along the Belt and Road, the joint venture will
this month, the establishment of the international joint
bring together two companies with decades of industry
venture is a significant step in the launch of KONKA's
experience to create innovative products for local
strategic expansion into the global arena.
communities", said Chang Dong, Assistant President of KONKA Group Co., Ltd and President of KONKA Electronic
KONKA has already proven its popularity among the Egyptian
Technology Co., Ltd. Adding, "through this cooperation, we
households with its TV products reaching the top spot on
will strengthen our commitment to providing high quality,
Jumia, the largest e-commerce site in Africa. Riding this
momentum, the company entered the strategic cooperation with Jumia in early 2019, accelerating the implementation of
In 2018, KONKA's R&D investment increased by 20.26% year-
its localization strategy for Africa and the Middle East.
on-year, covering semiconductor technologies, Internet of
By boosting the development which primarily is based on
Things (IoT) and improving the company's supply chain. By
traditional trade, the alliance is set to establish an integrated
focusing on AI, 5G, 8K and other multi-dimensional sectors, PAGE 162
THE HIKE MAGAZINE
KONKA Joint Venture in Egypt
KONKA is committed to building an IoT controlled - TV-based - intelligent hub. It has won the "National Science and Technology Progress Award", "AWE Epland Golden Award" and "CITE2019 Innovation Award" in 2019, with the release of the APHAEA-A3 8K TV set equipped with ultra-high-resolution imaging chip developed by KONKA R&D lab. Beyond Africa and the Middle East, KONKA has established a robust domestic supply chain which will boost the delivery of innovative products to countries along the Pacific Rim. About KONKA Group Founded in 1980, KONKA Group Co., Ltd started as China's first electronic Sinoforeign joint-venture. With its main business lines covering multi-media consumer electronics, portable communication products, home appliances, satellite set-top boxes and upstream components. In 2019, KONKA ranked 196th with 46.126 billion RMB in revenue in the "Top 500 Enterprises" published by "Fortune" magazine. To date, KONKA's products have reached households in 100 countries and regions in Asia, the Middle East, Australia, Africa, Europe and America. Konka, taking continuous innovation as the driving force, has established a threelevel R&D system: Research Institute, R&D Centre and Professional Design Studio, which integrates innovative concepts from the National Enterprise Technology Center, Postdoctoral Research Center and Research Laboratory in American Silicon Valley and therefore keeping pace with leadingÂ technologies. rom HD CRT TV to ultrathin LED TV and from 3D TV to smart 3D TV, Konka TV products have been leading constant consumer entertainment revolution. Combining the unique OMI system with Android system and integrated with upgraded chip, KONKA products offer plentiful amusing applications, redefining the home entertainment terminal and satisfying personalized demands of different markets. Website: www.konkaproducts.com
About HOHO Covering an area of 300,000 square meters, the Egyptian electronics manufacturer, HOHO Electrical & Furniture Co., Ltd, was founded 2009. The company's flagship products include TVs, and LED lights, electrical kettles and vacuum cleaner. PAGEÂ 163
HONEYWELL HELPS TRANSFORM THE OPERATIONS OF MEXICAN PETROCHEMICAL LEADER Intelligent Wearables solution will help improve compliance and productivity at Braskem Idesa's Veracruz plant.
A comprehensive range of applications from Honeywell will boost the speed, safety and reliability of field workers through: Expert on Call: Provides field workers with live, real-time access to experts in the central control room or elsewhere for troubleshooting, support and advice. Video support: Enables users to view videos demonstrating key tasks. Paperless rounds: Provides step-by-step instructions for common and complex tasks. "Braskem Idesa has not only taken an important step toward Industry 4.0 but has now also replaced paper-based and manual operations with a sophisticated solution that's both digital and wireless," said Vincent Higgins, director of technology and innovation, Honeywell Connected Enterprise, Industrial. "Wearable, voicecontrolled computer headsets and software eliminate the need for clipboards, pens, and flashlights. Our offering will help Braskem
Honeywell has announced that Braskem Idesa has adopted a hands-free, wearable connected technology solution at its plant in Veracruz, Mexico. Honeywell's Intelligent Wearables will allow Braskem Idesa to improve productivity and compliance with process procedures, capture the expertise of experienced workers and provide critical insights and information effectively to trainees and support workers in the field. Honeywell is delivering a complete outcome-based solution that tracks specific key performance indicators and integrates hardware, software and services, and a full Wi-Fi infrastructure to support use of the solution across the plant. The wearable technology will also accelerate training and ensure safety for field operators at the Braskem Idesa facility. "With this solution, Braskem Idesa is embracing the digital transformation that will enable us to retain our leadership in the petrochemicals industry," said Roberto Velasco Gutiérrez, industrial director, Braskem Idesa. "Capturing all the relevant expertise and data within the organization and getting it to workers wherever and whenever needed, will help get trainees safely into the field faster and ensure that every worker operates to Braskem Idesa's best standards."
Idesa capture expertise and document critical tasks to ensure operational compliance." Honeywell's solution for field worker competency and productivity enables Braskem Idesa to tie its plant performance directly to the performance of its workers, critical to the success of any industrial enterprise. By connecting field workers with remote advice, Honeywell reduces the need for site visits from experts, empower workers to continue learning, become their best and effectively share their knowledge with peers. The Braskem Idesa petrochemical complex has a production capacity of 1.05 million tons of ethylene and polyethylene. It is one of the largest petrochemical production sites in the Americas. www.honeywell.com PAGE 164
BHUTAN WINE COMPANY PLANTS THE FIRST VINEYARDS IN THE KINGDOM OF BHUTAN The Bhutan Wine Company (BWC) made international news
The only carbon-negative country in the world, and on track to
headlines when it planted the first vineyards in the
be the world's first 100% organic country, Bhutan produces
Kingdom of Bhutan.
some of the world's best crops in verticals like cardamom, mandarin oranges, and red rice. Bhutan has a wide range of
After years of research, analysis and planning, the BWC
altitudes, from 300 feet up to Gangkhar Puensum, which at
worked with Sunridge Nurseries in California and
24,820 feet is the highest unclimbed mountain in the world.
governmental officials, local business leaders and other key
Temperatures range from tropical in the south to temperate
stakeholders in Bhutan to identify and plant the first five
and colder in the north.
vineyards in the country, widely believed to be the last completely untapped viable wine region in the world.
The Bhutan Wine Company www.bhutanwine.com
The five initial vineyards were planted with nine international
The BWC is an early stage company, focused on developing
varieties: Cabernet Sauvignon, Merlot, Syrah, Pinot Noir,
the fine wine industry in Bhutan to celebrate the beauty and
Malbec, Cabernet Franc, Chardonnay, Sauvignon Blanc and
magic of the country's land, people, and culture across the
globe. The company's mission is to work with the country to determine which varieties will grow best in the myriad of
The Kingdom of Bhutan, nestled in the Himalayas, is also
microclimates available, develop vineyards throughout the
commonly referred to as the last Shangri-La, with its
country, build winemaking facilities and produce fine
stunningly beautiful landscape of vast mountain peaks, deep
organically-farmed wine destined for export markets,
valleys, and glacial rivers and lakes. This unique country was
showcasing Brand Bhutan throughout the world. The BWC
isolated from much of the modern world until the 1970s, and
also intends to perform significant knowledge transfer to
today is an inspiration and role model for the world for its
Bhutan, helping it add viticulture to its arsenal of agriculture
expertise. PAGE 165
ENOVA REPORT UNCOVERS UNTAPPED BUSINESS OPPORTUNITIES FOR AI Harvard Business Review Analytic Services study - How companies can overcome hurdles to fully capitalize on AI investments.
cultural challenges, and a bias for strategic and tactical use cases over operational initiatives. In many cases, leaders simply aren't considering how operational decisions can benefit from AI. "Operational decisions, not strategic decisions, represent a largely-untapped, high-potential opportunity for AI in businesses," said Joe DeCosmo, Chief Analytics Officer for Enova International. "Many businesses are realizing that the rules engines they rely on to automate decisions cannot support machine learning. However, with the right technical support applied to specific operational tasks like fraud detection and credit risk assessment, companies can consistently improve the customer experience, reduce operational costs and drive business growth. "Applications for operational decisioning span across many sectors, from banking to healthcare. The report offers a three-step
Business investment in artificial intelligence (AI) is growing at unprecedented levels, backed by executives' belief in the value of this emerging technology. But many companies currently aren't realizing AI's potential due to a range of technical and cultural gaps. However, a new report by Harvard Business Review Analytic Services, sponsored by Enova Decisions, shows businesses can overcome these hurdles and fully capitalize on their investment by applying AI to an overlooked area: real-time operational decisions. The report, "The Analytics-Driven Organization: Making Real-Time Business Decisions with AI," examines the results of a survey of 312 senior executives in midsize companies. Executive responses reveal there is a gap between AI investments and the value companies are deriving from those investments. Over two-thirds of executives said AI will be a competitive differentiator for companies in their markets within the next year, yet only 15 percent of organizations currently have AI-powered analytics in place. Based on the survey results, the report identifies three main factors that inhibit companies from realizing the value of their AI investments: technology roadblocks,
suggested process businesses can follow to fully realize the value from their AI investments. Enova Decisions uses real-time predictive analytics, AI, big data and its on-demand business rules management system to help companies build decision flows that make data-driven operational decisions instantly and at scale. Chicago-based Enova Decisions is part of Enova International, a leading publicly-traded technology and dataanalytics-driven online lending company. Enova Decisions leverages 15 years of proven technology and analytics expertise to help clients thrive with custom, real-time analytics services and instant data-driven decisions at scale. www.enovadecisions.com PAGE 166
U.S. SUPERMARKET WINES ARE CATCHING UP WITH EUROPEAN COUNTERPARTS U.S. supermarket wines, once considered to be poorly made
This is the best performance ever recorded for wines sold
and rarely worth drinking, scored a major success at the 2019
exclusively by U.S. supermarkets, more than doubling the
International Salute to Excellence awards for private label in
number of 2018 winners. The showing demonstrates that U.S.
Amsterdam, winning seven top honors in the category.
private label wines continue to get closer to their European counterparts in terms of value and quality – especially among
From Costco: Kirkland Signature Bordeaux Supérieur 2016
wines costing less than $15. This matters because wines that
(Bordeaux, $10), best quality; Kirkland Signature Asolo
are sold exclusively by European supermarkets have long
Prosecco NV (Italy, $10). best value.
been considered among the best wine in the world at combining those two things.
From Trader Joe's: Trader Joe's organic Grower's Reserve Merlot 2017 (California, $5), best quality; Trader Joe's
"Don't overlook private label store wines," said Washington
Platinum Reserve Pinot Noir 2017 (Russian River Valley, $15),
Post wine columnist Dave McIntrye, one of 18 international
judges who participated in the 2019 wine awards program. "These were good value, high quality bottlings. Some stores
From Aldi US: Evanta Malbec 2017 (Argentina, $4), best value;
are doing a great job sourcing really good juice."
Scarlet Path Zinfandel 2017 (Lodi, $8), best quality; Outlander Cabernet Sauvignon 2016 (Paso Robles, $9), best quality.
To see all 2019 results: www.plmasalute.com/wine-awards PAGE 167
BAHRAIN EDB APPOINTS KHALID HUMAIDAN AS NEW CHIEF EXECUTIVE The Bahrain EDB is an investment promotion agency with overall responsibility for attracting investment into the Kingdom.
Thanks to its nimble regulation, highly skilled workforce, high standards of living and low-cost operating environment, Bahrain is increasingly the destination of choice for businesses – from global tech leaders to innovative startups – seeking access to the growing $1.5 trillion Gulf market. In the last two years alone, the EDB has worked closely with Amazon Web Services, who just recently opened the region's first hyper-scale data centre Region in Bahrain; confectionary giant Mondelez, who chose Bahrain for their sixth global mega plant. Bahrain Economic Development Board The Bahrain Economic Development Board (EDB) is an investment promotion agency with overall responsibility for attracting investment into the Kingdom and supporting initiatives that enhance the investment climate. The EDB works with the government and
The Bahrain Economic Development Board (EDB) – the investment promotion agency tasked with attracting investment into the Kingdom – has announced the joining of its board member, Khalid Humaidan as Chief Executive, effective immediately. Prior to joining the EDB, Mr Humaidan, a Bahraini national, was the Head of Global Markets MEA at BNP Paribas. He has over 20 years of experience working in capital markets and currently serves on the board of Mumtalakat, and until his appointment as CE, sat on the EDB's Board from 2014. Mr. Humaidan said: "At a time of rapid shifts in the global economy, the key to our prosperity lies in the rapid adoption of new trends and innovation – as well as strong partnerships between the public and private sector. The work of the Bahrain Economic Development Board has brought a range of world-class companies to the Kingdom through a forward-thinking approach that combines agility, a strong entrepreneurial ecosystem, and co-ordinated action. Having spent more than 20 years in Finance, I look forward to contribute to the next phase of the Kingdom's economic growth and forging even stronger ties with our partners."
both current and prospective investors, in order to ensure that Bahrain's investment climate is attractive, to communicate the key strengths, and to identify where opportunities exist for further economic growth through investment. The EDB focuses on several economic sectors that capitalise on Bahrain's competitive advantages and provide significant investment opportunities. These sectors include financial services, manufacturing, ICT, tourism, logistics and transport. For more information on the Bahrain EDB, please visit www.bahrainedb.com For information about Bahrain, please visit www.bahrain.com PAGE 168
EVERNOTE SELECTS CHILE AS THE LOCATION FOR ITS FIRST SOFTWARE DEVELOPMENT CENTER OUTSIDE THE U.S. The director of InvestChile, Cristián Rodríguez, commented
It has developed a productivity application that allows its
that Silicon Valley companies are seeking new global poles of more than 200 million users worldwide to capture, store and innovation and technology in a bid to expand their market
synchronize text, image and video files across multiple
reach and see Chile as the best option in the region.
devices. Evernote's CEO, Ian Small, gave the go-ahead for the operation in Chile, which is led by Francisco Mardones, the
InvestChile, the government agency responsible for
company's managing director in Chile.
promoting Chile in the global market as a destination for
"The aim is for Chile to become the company's second largest
foreign direct investment, has announced that U.S.-based
software center; it's wonderful to work in Chile where there is
Evernote has chosen Chile for its first software development
great digital talent and a time zone that enables us to do
center outside the United States, a project on which it began
everything in real time. A number of IT companies are looking
work with the agency in September 2018.
to relocate and have yet to discover Chile. We are the first and
The center, which will focus on developing the application's
we are willing to talk about our story and share it with others"
new characteristics, has so far hired over 10 people and is
said Ian Small, CEO of Evernote.
looking to expand its team to more than 30 engineers this year and continue growing in the future in line with the
The director of InvestChile, Cristián Rodríguez, commented
availability of talent.
that Silicon Valley companies are seeking new global poles of innovation and technology in a bid to expand their market
The areas of expertise and programming languages involved
reach and see Chile as the best option in the region.
Companies also seek locations that are aligned with their
as knowledge of the management of large volumes of data.
growth strategies, meet international work standards and
Evernote, which has its headquarters in Redwood City,
offer talented professionals.
California (Silicon Valley), was founded in 2008.
Website: www.investchile.gob.cl PAGE 169
BAHA MAR RESORT COMMITS $2 MILLION IN FINANCIAL AID FOR HURRICANE DORIAN RELIEF AND RECOVERY
In addition to this immediate commitment, The Baha Mar Foundation is collecting financial support from our guests, partners and community and 100% of those proceeds are going directly to those in need, as well as partnering with local organizations and the Bahamian authorities to distribute daily food, medicine, supplies and other necessities to volunteers and disaster victims. Baha Mar has had the great honor to call The Bahamas home for the last several years. We hope our guests cherish their memories made here and will support us as we move forward to rebuild our neighboring family communities in The Abacos and Grand Bahama. Please visit www.BahaMar.Com/Dorian About Baha Mar Baha Mar is a master planned $4.2 billion integrated resort development operated by Hong Kong-based conglomerate Chow Tai
Baha Mar resort destination in Nassau has committed $2 million USD in financial aid to support immediate disaster relief and long-term recovery for our fellow Bahamians severely impacted by Hurricane Dorian. Baha Mar's $2 million USD commitment will go directly to partner relief organizations in The Bahamas as well as Baha Mar's own dedicated work in delivering emergency relief to volunteers and disaster victims. This donation is part of Baha Mar's ongoing devotion to a series of continued relief efforts, including a dedicated plan and investment into the longer-term recovery for a stronger Bahamas of tomorrow. "Our hearts are heavy with sadness and loss over Hurricane Dorian's path of destruction and damage to our beloved nation and its people," said Graeme Davis, President, Baha Mar. "Now is the time to come together and support those who need our help, especially in The Abacos and Grand Bahama. Baha Mar is spearheading ongoing recovery efforts to aid the victims while working towards strengthening our nation to come back stronger than ever."
Fook Enterprises Limited (CTFE). The white sand beach destination includes three global brand operators – Grand Hyatt, SLS, and Rosewood – with over 2,300 rooms and 40 restaurants and lounges, the largest casino in the Caribbean, a state-of-the-art convention center, an 18-hole Jack Nicklaus Royal Blue Golf Course, the Caribbean's first and only flagship ESPA spa, and over 30 luxury retail outlets. Baha Mar is a breathtaking location with dynamic programming, activities and guest offerings in one of the most beautiful places in the world – The Bahamas. For more information and reservations, visit www.bahamar.com PAGE 170
THE CHINESE REGION OF WESTERN ANHUI LEADS THE WAY ON LOW-CARBON The mountain county Huoshan in western Anhui
waters and lush mountains are invaluable assets Huosan has
Province is pursuing a transformation towards green
been trying to be a pioneer in green development in Anhui
mode of production, an official in charge of the province's
Province and Lu'an City." said Xiang Yuewen, the top official
publicity department told a seminar on September 7.
of Huoshan, adding that the county's efforts make people in the old revolutionary base area "feel happy more than ever."
At the seminar on theory and practice of ecological civilization, Yu Aihua, member of the standing committee of
Huoshan county is located in the hinterland of Dabieshan
CPC Anhui provincial committee and also director of the
Mountain in western Anhui Province, with mountains making
publicity department of CPC Anhui committee, stated that
up 70 percent of its territory, while waters, farmland, road
Huoshan County, as one of the old revolutionary base areas,
and farmhouses taking up a respective 10 percent.
has been advocating a simple, low-carbon way of life in the recent years, which has thus forced the production mode to
Considered as a "natural oxygen bar of China" and an
transform to a green one.
excellent source of good water, Huoshan is also the fourth
"Ecological civilization construction is closely related to
national ecological county and the first national ecological
everyone. Everyone is a protector, builder and beneficiary of
county in central and western China. The county boasts a
the ecological environment," Yu said.
forest area of 150,000 hectares, with a forest coverage rate of
"As a pilot county of a national ecological construction
more than 76 percent. The annual rate of excellent and good
demonstration zone and guided by the conviction that lucid
air quality in the county has reached 98 percent. PAGE 171
Rwanda is a resilient, forward-looking country with a vision of becoming a globally
RWANDA - AFRICA'S GREAT ECONOMIC SUCCESS STORY LEADS WITH AMBITION.
competitive knowledge-based economy by
The value of investments registered in Rwanda have more than tripled from US$400 million in 2010 to US$2.006 billion in 2018.
Rwanda has become a reference point for
2024. In the last 25 years, Rwanda has redefined itself as the preferred investment and tourism destination of the world. Under President Paul Kagame’s leadership, good governance in the region, political stability with well-functioning institutions, observance of the rule of law and zero tolerance for corruption. Rwanda today prides itself in being among the easiest, safest and cleanest places to do business and travel to in the world. Rwanda at A glance > The economy has grown at an annual GDP average rate of 8% for the past decade. > GDP per capita grew to US$787 in 2018, from US$774 in 2017. > Currently, the services sector is the largest contributor to GDP. The sector contributes about 48%, followed by Agriculture at 29% and the Industrial sectors 16% respectively. > Inflation has been at single digit since 2008. > Rwanda has consistently been given high ratings by Fitch Ratings. In 2018, Fitch affirmed Rwanda’s B+ ratings reflecting
In 2018, Rwanda marked ten years of prioritising its business reform agenda in
Rwanda’s strong governance and doing
order to create a favourable and competitive business environment.
business metrics, low public debt/GDP and high growth potential.
It was also the year in which it posted its strongest performance to date where
> Rwanda has also consistently emerged as
Rwanda emerged as the 29th easiest place to do business globally, was among the
the top global reformer in the annual World
top 10 global reformers and was the 2nd easiest place to do business in Africa (1st
Bank Doing business reports. The 2019 World
in Mainland Africa according to the World Bank Doing Business Report 2019).
Bank Doing Business Report positioned the country to be the second easiest place to do
As Rwanda positioned itself as an economy open for business with the global
business in Africa and 29th globally.
economy, the Doing Business report has been a strong signalling factor to
> Rwanda scored 50.94 points out of 100 on
investors that Rwanda is a safe, stable and efficient place to invest. As a result, the
the 2018 Global Competitiveness Report
value of investments registered more than tripled from US$400 million in 2010 to
published by the World Economic Forum.
US$2.006 billion in 2018. PAGE 172
SIKA STRENGTHENS PRESENCE IN AFRICA WITH ITS 22ND FACTORY ON THE CONTINENT Global Construction and Industry solutions leader
8.4% in 2019, with annual growth averaging 7.4% until 2028.
launches new mortar manufacturing facility in Cameroon.
Making the country’s construction market the market with
Sika has started operations at a new facility for mortars in
the highest dynamics in West Africa. Sika product are used in
Cameroon, further expanding its presence in West Africa.
major infrastructure projects like sports stadiums, the Douala
The company invested in a new mortar manufacturing
Grand Mall and Business Park Project, and facilities for water
facility following the foundation of the national subsidiary in
treatment and the supply of drinking water which are being
2016 and the opening of a concrete admixture plant in 2017.
constructed across the country.
Sika now has 22 factories in total on the African continent. This year, the company has already invested in new facilities
Ivo Schädler, EMEA Regional Manager said:
in Egypt and Senegal.
“We are continually expanding our business on the African continent and are recording the strongest growth rates in the
The new mortar products factory located in the major city of
EMEA region. Over the past four years, we have increased
Douala will expand Sika’s product portfolio and will supply
sales by an average of 22 percent each year. Our investments
customers in Cameroon’s construction market with locally
in expansion will create the basis for further market
manufactured products. Cameroon’s building industry is
penetration in Africa, where the boom in the construction
developing dynamically under the stimulus of investments in
industry is being driven by high population growth combined
infrastructure and housing construction. It is expected that
with urbanization trends and megacity developments.”
Cameroon’s construction industry is expected to grow by
Website: www.sika.com PAGE 173
MENARINI PHARMACEUTICAL GROUP APPOINTS ELCIN BARKER ERGUN AS CEO
subsidiary CFO. She then joined Merck KGaA's Healthcare business where she covered positions of increasing seniority with global business responsibilities as well as managing R&D collaborations in her last role heading New Business. Elcin Barker Ergun has worked in Global, Regional and Local leadership roles in the Pharma Industry for more than 20 years including Commercial, Finance and Innovation leadership. In her last role she was Head of New Business of Merck KGaA's Healthcare division based in Boston in charge of an entity carrying out external development and financing of several assets to create new businesses. Prior to that, she was Executive Vice President, Head of Global Commercial for Merck Serono responsible for a P&L of €4.5 billion and over 5,000 people. Prior to that, she was Senior Vice President, Head of Intercontinental Region comprising of 69 countries across Middle
The Board of Directors of Menarini has appointed Mrs. Elcin Barker Ergun as CEO of Menarini Group. "Elcin Barker Ergun is the ideal addition to the Menarini team, in order to continue the agenda of growth in geography and therapeutic areas," commented Eric Cornut, Chairman of Menarini. Elcin Barker Ergun: "Menarini is a company admired on a global level for both its market dynamism and patient centricity. It is an honour for me to join Menarini and contribute in capturing new business opportunities and further drive our globalization." "The arrival of Elcin Barker Ergun," commented Lucia and Alberto Giovanni Aleotti, "Completes the process we started a few years ago with the aim of strengthening the governance and making the company more international in order to accelerate its growth." After 8 years working in technology sector in the UK and the Netherlands, Elcin Barker Ergun entered the pharmaceutical industry with Smithkline Beecham as
East, Africa, Turkey, Russia/CIS. In her earlier career, Elcin held several finance roles as subsidiary CFO Smithkline Beecham and as subsidiary CFO for Honeywell. She also spent 8 years working in technology sector in the UK and the Netherlands, before entering the pharma industry. Elcin is an engineer with an MBA from INSEAD. The Menarini Pharmaceutical Group, with headquarters in Florence, is present in 136 countries worldwide to date, with € 3,667 million in turnover and more than 17,600 employees. With 7 centres for Research & Development and 16 manufacturing plants, Menarini's products are present in the most important treatment areas with over 585 million packets of product a year. Website: www.menarini.com PAGE 174
METSÄ WOOD: PREFAB GREEN SOLUTIONS IN NORWAY'S MOST INNOVATIVE HOUSING PROJECT Verksbyen, a new green neighbourhood in Fredrikstad in
quite substantially compared to the traditional way of building
Norway, showcases the future of sustainable living.
with steel and concrete," says Hansen.
As part of the project, construction company Arca Nova Bolig is building five five-storey apartment buildings
Using prefabricated elements has proved to be a quick way to
situated in Capjon Park area in Verskbyen. The buildings
build. The buildings are rising at the pace of one floor a week.
are being constructed using Metsä Wood's Kerto® LVL
That's just five weeks to complete a building. The first of the
(laminated veneer lumber) products - making the
five multi-storey buildings will be finished by the end of this
construction fast, light and green.
year, and the rest by the end of 2020.In the first three floors of the buildings, the load bearing structure consists of wall
Verksbyen is going to become home for 5,000 people within
elements made with Kerto® LVL Q-panels. The floor elements
the next 10 years. It aims to be Norway's most innovative
are stiffened and stabilised with Kerto® LVL S-beams.
housing project. In the long run, the developer, Arca Nova Bolig, has ambitious plans to change the housing market
Metsä Wood has helped Arca Nova Bolig with their technical
much in the same way as Tesla has changed the car industry.
solution for the wooden apartment buildings.
It is a lot said, but they strongly believe in growing demand for sustainable building, which is the backbone of the Arca Nova's
"Our cooperation has been vital to our success in creating a
Future Living concept.
new design system for the Norwegian housing market," says Hansen. Building with sustainably sourced wood is also an
"We have managed to reduce CO2 emissions in a variety of
environmentally friendly and sustainable way to build now
ways. The houses are built with timber elements according to
and in the future.
the passive house standard. Electricity is produced with solar energy and heating with solar thermal energy," says Ruben D.
Metsä Wood is one of the leading European producers of
Hansen, CEO of Arca Nova Bolig part of the Arca Nova Group.
engineered wood products. We are committed to serving three
"Building with prefabricated elements using Kerto® LVL
segments: construction, industrial and distribution customers.
products, we reduce both building time and CO2 emissions
For more information: www.metsawood.com PAGE 175
INVESTING IN THE FUTURE OF THE COMMUNITY COLA WEALTH ADVISORS GIVES BACK TO COLUMBIA
of hard work, and, of course, investing. They have also poured time into the service of our veterans through their partnership with Homestead Hospice. However, this is not the only way Rick and his team choose to give back. They also do so through numerous perennial charitable contributions to area charities. Their generous contributions have included: - $25,000 in yearly contributions to the Fellowship of Christian Athletes of Columbia to empower students and coaches to make a difference for Christ. - $10,000 in yearly contributions to the Columbia City Ballet, Columbia's premiere ballet company, bringing art and expression to the Midlands. - $10,000 in yearly contributions to Harvest Hope of the Midlands to aid in its mission to provide hunger to relief to those in need. - $10,000 in yearly contributions to Oliver Gospel Mission as it assists those in crisis
Rick Mantei and the team at Cola Wealth Advisors are no strangers to investing. After all, they manage almost $2 billion in assets for their clients. But their investing stretches well beyond the trading floor. Throughout their careers, Rick, Kathy Nishnic, Cindy Chiellini, and Atul Makharia have sought opportunities to give back to the communities that have been so generous to them professionally. They even give back when there's no specific reason. Fundraisers are a great way to show support for the community, but these four advisors don't always wait for those opportunities. In recent years, they have poured hundreds of thousands of dollars and countless hours into the communities and families that make the Midlands so great. The team's preferred method of giving is through engagements with the community. Over the years, Rick and his team have accepted numerous opportunities to talk with individuals and groups, such as the Organization of Black Aerospace Professionals, about topics such as opportunity, the importance
through recovery, employment assistance, and shelter. About Cola Wealth Advisors Rick Mantei is the owner and founder of Cola Wealth Advisors. Securities and advisory services offered through Centaurus Financial Inc. Member FINRA and SIPC, a registered Investment Advisor. With the help of Kathy Nishnic, Atul Makharia, Lisa Mantei, and Cindy Chiellini, the team assists more than two thousand families in achieving their financial goals. We have built a team of 13 licensed advisors with over 200 years of cumulative industry experience and manage approximately 1.2 Billion dollars in assets. Website: www.colawealthadvisors.com PAGE 176
DOMINICA REINVESTS CITIZENSHIP BY INVESTMENT REVENUE INTO EDUCATION Experts from the leading multinational firm Price Waterhouse
its economy: "Expenditure under the CBIP over the period
Coopers (PwC) recently visited the Caribbean island of
studied [07.2013-06.2019] has had an indirect impact on
Dominica to assess how its Citizenship by Investment (CBI)
Dominica's economy, which we estimate could increase GDP
Programme has contributed to the country's national
by around EC$150 million and tax receipts by around EC$30
development. PwC learnt that around EC$582.6m
million." Moreover, the authors mention that "CBIP
(≈US$215m) was distributed from the CBI Programme to
expenditure should have had a significant long-term impact
boost economic growth in the last two years alone.
on the economic potential of the island."
Education was one of the sectors that benefited greatly
The Commonwealth of Dominica has been operating its
from the Programme's funds.
economic citizenship programme for over two decades.
Following 2017's destructive Hurricane Maria, CBI became a
Once due diligence checks are passed, applicants can either
vital tool for Dominica's speedy recovery and road to
make a one-time contribution to the government's Economic
becoming "the world's first climate resilient nation."
Diversification Fund (EDF) or buy into selected luxury resorts and hotels. The EDF remains a popular option amongst single
The government redirected CBI funds towards rehabilitating
applicants due to its affordability, while larger families also
15 damaged schools. In a recent interview on Dominica's
looking for a return on their investment have CBI-approved
popular DBS radio station, Prime Minister Roosevelt Skerrit
resorts to choose from.
also revealed that around $26 million from the Dominica CBI Programme had been used to support young Dominican
As the country with one of the world's oldest Citizen by
citizens studying overseas in countries like Canada, the UK or
IInvestment programmes, Dominica positions itself in the
the USA. Furthermore, PM Skerrit told the Financial Times
lead. For three consecutive years, FT Specialist's CBI Index
last week about several projects that came to fruition on the
recognised it as offering the world's best economic
island thanks to the CBI Programme, including waiving
citizenship programme, citing affordability, efficiency and
tuition fees, subsidising textbooks and school uniforms for
integrity as some of the key differentials that can make
reputable investors seeking second citizenship choose Dominica.
The PwC report concludes that CBI has had an overall major impact on Dominica in a number of ways, including boosting
Website: www.csglobalpartners.com PAGE 177
ASIA - USA
HUOBI MOVES FULL SPEED IN TURKEY BY HOSTING THE EURASIA BLOCKCHAIN 2019
Turkish government officials and c-level representatives from local banks, including BKM and SabanciDx, are also expected to make appearances at the event to discuss how the banking sector can utilize blockchain technology and payment systems in emerging markets. The event is designed to kickstart conversations around blockchain innovation and adoption domestically, and to signal to the world that Turkey is ready for blockchain expansion. "Blockchain technology is set to be one of the most critical technological development for Turkey in the upcoming years," said Arfat Cenk Erkin, Founding Partner of Kemer Partners, "By organising the first annual Eurasia Blockchain Summit, we are giving Turkey the recognition it deserves as a hub for future development, for this year and many years following." Huobi has previously announced its
Huobi Group, alongside Kemer Partners, has announced that it will be hosting the first annual Eurasia Blockchain Summit, set to be the largest blockchain and cryptocurrency gathering in Turkey, a region many speculate is currently leading the rate of cryptocurrency adoption in Europe. In hosting the summit, Huobi will bring together leading blockchain companies, professionals, and speakers to help further the adoption of blockchain technologies in Turkey and throughout Europe. The first annual Eurasia Blockchain Summit will see industry experts gather, together with local and international crypto adopters, to discuss methods in advancing the development and application of blockchain technology. Huobi will play a pivotal role in supporting the inaugural summit while augmenting its own expansion efforts in Turkey. Announcing support for the initiative, CEO Livio Weng said: "Turkey has been an important market for us this year. Our team has been on the ground to fulfil the promises we made to the users and bring in key industry leaders to trigger conversations around blockchain that were long overdue for Turkey. As a part of this initiative, expect bigger announcements from us in the coming three months."
intentions to expand into the Turkish market, where real estate firms have also observed strong demand for crypto property purchases. The country has blossomed into a thriving crypto nation and a much-coveted theater of commerce for exchanges and crypto businesses. Bitcoin is as popular as forex in Turkey, where 20% of the populace own cryptocurrency. Turkish demand for digital assets has risen due to ballooning inflation, and depreciation of the Lira. It is also worth noting the Lira is the 5th most popular fiat-crypto pair in the world. Huobi Group is a leading global blockchain company. Established in 2013, accumulative turnover exceeds US $1 trillion. Website: www.hbg.com PAGE 178
PEPSICO ACCELERATES PLASTIC WASTE REDUCTION EFFORTS ACROSS ITS BRANDS Sets Target to Reduce 35% of Virgin Plastic Across
plastics need never become waste," said PepsiCo Chairman
Beverage Brands by 2025 Driven by Increased Use of
and CEO, Ramon Laguarta. "Even as we work to accelerate
Recycled Content and Alternative Packaging.
business growth, we continue to make important progress toward a circular economy for packaging, a responsibility we
SodaStream Business to Drive the Avoidance of 67 Billion
take very seriously."
Single-Use Plastic Bottles Over Next Five Years Furthering Company's Progress in Reusable Packaging.
PepsiCo's sustainable plastics vision is rooted in three pillars: Reducing the amount of plastics used, Boosting recycling
PepsiCo, Inc. has announced a new target to reduce 35% of
rates, and Reinventing plastic packaging. "We're intentionally
virgin plastic content across its beverage portfolio by 2025,
setting ambitious goals to drive meaningful progress," said
which equates to the elimination of 2.5 million metric tons of
Simon Lowden, President, PepsiCo Global Foods, who leads
cumulative virgin plastic.
PepsiCo's Plastic Agenda. "PepsiCo is already one of the world's largest buyers of recycled plastic, and if there was
Progress will be driven by the company's increased use of
more available, we'd buy it - and if there were more markets
recycled content and alternative packaging materials for its
where we could use it, we would. We are committed, and
beverage brands, including LIFEWTR®, bubly™ and Aquafina®,
partnership is key."
which recently announced sustainable packaging efforts. Additionally, through the expansion of PepsiCo's global
This announcement builds upon the company's already
SodaStream® business, an estimated 67 billion plastic bottles
announced packaging goals to, by 2025: make 100% of its
will be avoided through 2025. These targets advance
packaging recyclable, compostable, or biodegradable; and
PepsiCo's sustainable packaging vision and reinforce its
increase use of recycled content in plastics packaging to 25%.
"Beyond the Bottle" strategy which, in addition to SodaStream, includes the mobile-enabled Hydration
PepsiCo products are enjoyed by consumers more than one
Platform and other offerings that deliver beverages without
billion times a day in more than 200 countries and territories
single-use plastic bottles.
around the world. PepsiCo generated more than $64 billion in net revenue in 2018, driven by a complementary food and
"While our efforts are far from done, this is one more step in
beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-
PepsiCo's journey toward helping to build a world where
Cola, Quaker and Tropicana. www.pepsico.com PAGE 179
MID CONTINENT DONATES 1 MILLION NAILS TO RIVER CITY HABITAT FOR HUMANITY FOR DISASTER RELIEF Mid Continent Steel & Wire (MCSW), the USA's largest nail manufacturer, has announced a donation of 1 million Magnum nails to River City Habitat for Humanity to support disaster relief efforts in Jefferson City. Governor Michael Parson, Mayor Carrie Tergin, and other officials attended a recent ceremony to announce the donation. This comes as residents ramp up efforts to rebuild and restore in the wake of a deadly tornado that tore a three-mile path through the area in May. "After surviving one of the most destructive forces of nature, Jefferson City is rebuilding and Mid Continent is here to help," said Chris Pratt, operations general manager of Mid Continent. "Just a few months ago, the future of our company was uncertain. But the community showed their support and today, we're back hiring more people to make America's best nails. We're proud to be in a position to give back and contribute to the building and rebuilding of safe homes for residents of Jefferson City." MCSW made news in 2018 following the President's announcement of Section 232 tariffs on steel, as the first company to announce layoffs resulting from the tariffs. The company applied for exclusions, and fought through uncertain conditions for nearly a year before the Department of Commerce ultimately approved its request. Following the good news, the company announced it was "back in business" in April 2019. The donation ceremony was held at a home currently being refurbished by River City Habitat for Humanity. Chris Pratt delivered remarks on behalf of the company
along with Susan Cook-Williams, Executive Director for River City Habitat for Humanity. Others on the stage included Governor Michael Parson; Jefferson City Mayor Carrie Tergin; Hannah Larrick, Field Representative for Senator Roy Blunt; and Daniel Hartman, State Director for Senator Josh Hawley."Mid Continent has always enjoyed giving back to the community," said Pratt, "after the last year, this feels especially good." Website: www.magnumfasteners.com PAGE 180
UNILEVER ACHIEVES 100% RENEWABLE ELECTRICITY USAGE ACROSS FIVE MAJOR CONTINENTS - 100% of grid electricity across Africa, Asia, Europe, Latin America and North America comes from renewable sources. - Sites across five continents have achieved 100%
General's Climate Action Summit, where it joins leaders from
renewable grid electricity use ahead of Unilever's
government and business in advocating for the importance of
global 2020 target.
limiting global average temperature rise to 1.5°C – in line with the Paris Agreement.
Unilever has announced that its factories, offices, R&D facilities, data centres, warehouses and distribution
Unilever's achievement is a significant step towards its target to
centres across five continents are now powered by 100%
become a carbon neutral company before 2030. Unilever has
renewable grid electricity. As far as possible, Unilever's
worked with partners around the world to generate renewable
transition to renewable electricity has been delivered
electricity at its own sites, with solar power in use at Unilever
through supporting the development of local renewable
facilities in 18 countries.
energy markets, with 38% of its grid electricity supplied through corporate Power Purchase Agreements (PPAs)
Marc Engel, Chief Supply Chain Officer at Unilever, said:
and green electricity tariffs. Where it has not been
"The climate emergency is one of the most urgent challenges we're
feasible to do this, Unilever has purchased Renewable
all facing. Our team have worked hard to secure renewable energy
Energy Certificates (RECs) - openly-traded certificates
contracts for our sites across five continents, accelerating the
linked to renewable electricity generation.
delivery of our 100% renewable energy targets. Of course, there is more work to do, but we hope that this announcement will inspire
Sam Kimmins, Head of RE100 at The Climate Group, said:
further action elsewhere and help to prove that it is possible to
"Congratulations to Unilever – achieving 100% fully
combat the climate crisis and hold global warming at 1.5 Degrees
renewable electricity across five continents means the
Celsius. Renewable is doable."
company is quickly advancing on its RE100 goal as it works to become a 'carbon neutral' company by 2030.
A substantial contribution to today's announcement comes from
Through its membership of RE100, global companies like
Unilever's investment in energy efficiency programmes, which have
Unilever are sending a strong demand signal to the few
led to a reduction in total energy consumption of 28%, and to the
markets where renewables remain harder to access. They
halving of carbon emissions per tonne of production since 2008, as
want to be able to source renewable electricity locally at
well as the introduction of on-site solar electricity generation.
an affordable price - and they want to do that now."
There have been no net on-costs to get to this point. Savings that Unilever was able to generate through mechanisms such as PPA's
The announcement comes ahead of Unilever taking to
have counterbalanced additional costs.
the stage at the opening ceremony of Climate Week NYC and participating in the United Nations Secretary
Website: www.unilever.com PAGE 181
JAPANESE AUTO GIANT SUBARU SELLS 10-MILLIONTH VEHICLE IN THE U.S Subaru of America, Inc. has announced the sale of its 10millionth vehicle in the U.S. The new owner took delivery of a 2019 Subaru Impreza at the oldest Subaru retail facility in the country. A surprise celebration followed with the retailer's owner and staff and Subaru of America representatives in attendance.
year. In addition, the retailer has been a certified Subaru EcoFriendly Retailer since 2017.
"It took us 41 years to achieve our first five million sales, and just over 10 years to achieve the next five million,"
On September 4, Subaru of America reported its 93rd consecutive
said Thomas J. Doll, President and CEO, Subaru of
month of year-over-year sales increases and best-ever sales month.
America. "Accomplishing this milestone reflects our
Founded in 1968, Subaru of America offered a single model, the 360
commitment to providing customers with vehicles made
micro-car, and sold a total 332 vehicles in its first year. Today, eight
to the highest standards of safety, reliability and
available model lines including SUVs, sports cars, a mid-size sedan,
a compact sedan and 5-door and a plug-in hybrid are propelling the company to a projected 700,000 in vehicles sales.
The 10-millionth vehicle was sold by Nate Wade Subaru in Salt Lake City, Utah to Dr. Craig Harmon, a repeat
"It takes great products, great marketing and a strong retailer
Subaru customer. Harmon took delivery of a 2019
network to accomplish this historical milestone, but the real secret
Impreza for his daughter, Rachel, and was greeted by Kirk
to our success is our people," Doll said. "From our colleagues in
Schneider, owner of Nate Wade Subaru, along with
Japan, the factory employees, engineers, port operators,
facility staff, as well as Jessica Tiedeken, David Airington,
distribution and training centers and our customer service
Barry Jellick and Andrew Sidel from Subaru of America.
department to SOA HQ, regional and zone offices, and distributor
Harmon and his family have owned a combined total of
partners, it's our people who continue to drive this great brand
seven Subaru vehicles.
forward, leading with the Love Promise each day."
"My family and I drive Subaru vehicles for their proven
Subaru of America, Inc. (SOA) is a wholly owned subsidiary
history of safety and reliability and performance in
of Subaru Corporation of Japan. Headquartered at a zero-landfill
inclement weather," said Harmon. "We only have one
office in Camden, N.J., the company markets and distributes
problem with Subaru: the vehicles last too long!"
Subaru vehicles, parts and accessories through a network of more than 630 retailers across the United States. All Subaru products are
Nate Wade Subaru is the oldest Subaru retailer in the
manufactured in zero-landfill production plants and Subaru of
country and recently celebrated its 50th anniversary.
Indiana Automotive, Inc. is the only U.S. automobile production
The family owned and run business is committed to its
plant to be designated a backyard wildlife habitat by the National
local community and environment. As part of its Love
Wildlife Federation. SOA is guided by the Subaru Love Promise,
Promise, the retailer donates more than $100,000 to
which is the company's vision to show love and respect to
different charities and non-profit organizations each
everyone, and to support its communities and customers. PAGE 182
THE BUSINESS OF LEADERSHIP
WORLD BIZ MAGAZINE
INVEST IN MOROCCO
SHARING SUCCESS Qualified Labor Force Ambitious Sectorial Plans World Class Infrastructure Favorable Investment Climate Free Trade Access to One Billion Consumers Kingdom of Morocco - Moroccan Investment Development Agency www.invest.gov.ma
WORLD FDI AWARDS 2019
THE WORLD'S BEST INVESTMENT PROMOTION AGENCIES - 2019 www.worldfdi.com | www.worldbizmag.com
WORLD FDI 2019
World Biz Magazine
THE WORLD'S BEST INVESTMENT PROMTION AGENCIES
2019 AWARDS WORLD FDI World Biz Magazine in partnership with WorldFDI.com is
Country / Number of Awards
honored to present the winners of the 2019 World FDI
Latin America & Carib
Awards to our esteemed audience of CEOs and C-Suite
Brazil - 8
USA - 22
decision makers in 80 countries.
Colombia - 5
Candada - 8
Peru - 5 Decisions on investments into new territories involve
Mexico - 4
Asia - Pacific
complex challenges for businesses to overcome.
Chile - 3
China - 7
The Word FDI Awards encourages business leaders to
Costa Rica - 2
India - 5
take the first step to success in a new market by
Dominica - 1
Singapore - 5
providing our holistically researched view of the
Trinidad and Tobago - 1 Australia - 4
countries and regions that present the absolute best
Uruguay - 1
Korea - 2 Vietnam - 2
opportunities for specific industries in the coming year. As part of our evaluations, our team interviewed CEOs
Malaysia - 2
and institutional investors, Investment Promotion
Dubai, UAE - 9
Kazakhstan - 1
Agencies, Advisories, and other FDI stake holders.
Saudi Arabia - 5
Mongolia - 1
Our 360 approach also included the research of FDI
Israel - 4
Sri Lanka - 1
flows, and direct feedback from local businesses and
Egypt - 3
media partners on the ground in the relevant countries.
Abu Dhabi, UAE - 2
Jordan - 2
United Kingdom - 6
The World FDI 2019 Award Winners have proven their
Kuwait - 1
Germany - 4
commitment to guaranteeing open, dynamic and
Oman - 2
France - 3
forward thinking commerce by achieving the highest
Qatar - 1
Belgium - 2 Norway - 2
combined scores for the following points of research : - Quality of the investment proposal
Russia - 2
- Level of support offered, Incentives and FTZs
Nigeria - 8
Switzerland - 2
- Infrastructure, Talent, Connectivity, Business climate
South Africa - 6
Turkey - 2
- Stability, Anti-Corruption and Transparency
Morocco - 4
Austria - 1
- Ease of access to the market and business finance
Ghana - 3
Czech Republic - 1
- Success stories
Angola - 2
Cyprus - 1
- Professionalism of the IPA
Kenya - 2
Denmark - 1
- Communication and Marketing
Rwanda - 2
Finland - 1
- Preparedness for the 4th Industrial Revolution
CĂ´te d'voire - 1
Spain - 1
Ethiopia - 1
Sweden - 1
Mike Walters - Editor in Chief at World Biz Magazine
Tanzania - 1 PAGE 03
AEROSPACE Latin America and Caribbean Winner: ProMéxico www.promexico.mx Highlight: Nuevo Leon www.businessnuevoleon.com North America Winner: SelectUSA www.selectusa.gov Highlight: Washington www.choosewashingtonstate.com Asia - Pacific Winner: EDB Singapore www.edb.gov.sg Highlight: Singapore www.edb.gov.sg Europe Winner: Dept for International Trade, UK www.invest.great.gov.uk Highlight: Wales www.tradeandinvest.wales Middle East Winner: Invest in Israel www.investinisrael.gov.il Highlight: Tel Aviv www.investinisrael.gov.il Africa Winner: InvestSA, South Africa www.investsa.gov.za Highlight: Tshwane www.teda.org.za PAGE 04
AGRICULTURE Latin America and Caribbean Winner: Apex-Brasil www.apexbrasil.com.br Highlight: Piaui www.apexbrasil.com.br North America Winner:Â SelectUSA www.selectusa.gov Highlight: Texas www.businessintexas.com Asia - Pacific Winner: Vietnam Trade Promo Agency www.vietrade.gov.vn Highlight:The Mekong Delta www.vietrade.gov.vn Europe Winner: Business France www.businessfrance.fr Highlight: Nouvelle-Aquitaine www.invest-in-southwestfrance.com Middle East Winner: GAFI, Egypt www.investinegypt.gov.eg Highlight: Monufia www.investinegypt.gov.eg Africa Winner: InvestSA, South Africa www.investsa.gov.za Highlight: KwaZulu-Natal www.tikzn.co.za PAGE 05
AUTOMATION Latin America and Caribbean Winner: ProColombia www.procolombia.co Highlight: Bogota www.investinbogota.org North America Winner: Invest in Canada www.investcanada.ca Highlight: Toronto www.torontoglobal.ca Asia - Pacific Winner: Invest in China www.fdi.gov.cn Highlight: Shenzen www.fdi.gov.cn Europe Winner: Germany Trade & Invest www.gtai.de Highlight: Berlin www.berlin.de Middle East Winner: Dubai FDI, UAE www.dubaifdi.gov.ae Highlight: Dubai www.dubaifdi.gov.ae Africa Winner: NIPC, Nigeria www.nipc.gov.ng Highlight: Lagos www.nipc.gov.ng PAGE 06
AUTOMOTIVE Latin America and Caribbean Winner: Apex-Brasil www.apexbrasil.com.br Highlight: Parana www.apdbrasil.org.br North America Winner:Â SelectUSA www.selectusa.gov Highlight: Alabama www.edpa.org Asia - Pacific Winner: Invest India www.investindia.gov.in Highlight: Maharashtra www.midcindia.org Europe Winner: Germany Trade & Invest www.gtai.de Highlight: Bavaria www.invest-in-bavaria.com Middle East Winner: Invest Saudi, Saudi Arabia www.investsaudi.sa Highlight: Jubail www.jubailcity.com Africa Winner: Invest in Morocco www.invest.gov.ma Highlight: Tangier www.invest.gov.ma PAGE 07
CHEMICAL Latin America and Caribbean Winner: ProMéxico www.promexico.mx Highlight: Tamaulipas www.tamaulipas.gob.mx North America Winner: SelectUSA www.selectusa.gov Highlight: Texas www.businessintexas.com Asia - Pacific Winner: KOTRA, Korea www.kotra.or.kr Highlight: Gyeonggi www.gg.go.kr Europe Winner: Business Belgium www.business.belgium.be Highlight: Flanders www.flandersinvestmentandtrade.com Middle East Winner: Invest Saudi, Saudi Arabia www.investsaudi.sa Highlight: Dammam www.eamana.gov.sa Africa Winner: NIPC, Nigeria www.nipc.gov.ng Highlight: Osun State www.nipc.gov.ng PAGE 08
CLEAN ENERGY Latin America and Caribbean Winner: Uruguay XXI www.investinuruguay.uy Highlight: Montevideo www.investinuruguay.uy North America Winner: Invest in Canada www.investcanada.ca Highlight: British Columbia www.britishcolumbia.ca Asia - Pacific Winner: Invest India www.investindia.gov.in Highlight: Tamil Nadu www.investingintamilnadu.com Europe Winner: Invest in Denmark www.investindk.com Highlight: Greater Copenhagen www.copcap.com Middle East Winner: Abu Dhabi Investment Office www.investinabudhabi.ae Highlight: Abu Dhabi www.investinabudhabi.ae Africa Winner: Invest in Morocco www.invest.gov.ma Highlight: Ouarzazate www.invest.gov.ma PAGEÂ 09
CONSTRUCTION Latin America and Caribbean Winner: ProInversión, Peru www.proinversion.gob.pe Highlight: Lima www.proinversion.gob.pe North America Winner: SelectUSA www.selectusa.gov Highlight: Idaho www.commerce.idaho.gov Asia - Pacific Winner: MIDA, Malaysia www.mida.gov.my Highlight: Selangor www.investselangor.my Europe Winner: Innovation Norway www.innovasjonnorge.no Highlight: Oslo www.oslobusinessregion.no Middle East Winner: Dubai FDI, UAE www.dubaifdi.gov.ae Highlight: Dubai www.dubaifdi.gov.ae Africa Winner: NIPC, Nigeria www.nipc.gov.ng Highlight: Lagos www.nipc.gov.ng PAGE 10
CREATIVE Latin America and Caribbean Winner: ProColombia www.procolombia.co Highlight: Bogota www.investinbogota.org North America Winner: SelectUSA www.selectusa.gov Highlight: Georgia www.georgia.org Asia - Pacific Winner: Austrade, Australia www.austrade.gov.au Highlight: Western Australia www.jtsi.wa.gov.au/invest-in-wa Europe Winner: Business France www.businessfrance.fr Highlight: Paris www.chooseparisregion.org Middle East Winner: Invest Saudi, Saudi Arabia www.investsaudi.sa Highlight: Riyadh www.investsaudi.sa Africa Winner: NIPC, Nigeria www.nipc.gov.ng Highlight: Lagos www.nipc.gov.ng PAGE 11
CYBERSECURITY Latin America and Caribbean Winner: Apex-Brasil www.apexbrasil.com.br Highlight: Sao Paolo www.investe.sp.gov.br North America Winner: SelectUSA www.selectusa.gov Highlight: California www.businessportal.ca.gov Asia - Pacific Winner: Invest in China www.fdi.gov.cn Highlight: Shanghai www.fdi.gov.cn Europe Winner: Business Sweden www.business-sweden.se Highlight: Göteborg www.businessregiongoteborg.com Middle East Winner: Invest in Israel www.investinisrael.gov.il Highlight: Tel Aviv www.investinisrael.gov.il Africa Winner: InvestSA, South Africa www.investsa.gov.za Highlight: Durban www.durban.gov.za PAGE 12
DEFENSE Latin America and Caribbean Winner: Apex-Brasil www.apexbrasil.com.br Highlight: Sao Paolo www.investe.sp.gov.br North America Winner: SelectUSA www.selectusa.gov Highlight: Florida www.enterpriseflorida.com Asia - Pacific Winner: Invest in China www.fdi.gov.cn Highlight: Shanghai www.fdi.gov.cn Europe Winner: Invest in Turkey www.invest.gov.tr Highlight: Ankara www.invest.gov.tr Middle East Winner: Invest Saudi, Saudi Arabia www.investsaudi.sa Highlight: Riyadh www.investsaudi.sa Africa Winner: InvestSA, South Africa www.investsa.gov.za Highlight: Gauteng www.ggda.co.za PAGE 13
EDUCATION Latin America and Caribbean Winner: CINDE, Costa Rica www.cinde.org Highlight: San Jose www.cinde.org North America Winner:Â SelectUSA www.selectusa.gov Highlight: California www.businessportal.ca.gov Asia - Pacific Winner: EDB Singapore www.edb.gov.sg Highlight: Singapore www.edb.gov.sg Europe Winner: Germany Trade & Invest www.gtai.de Highlight: Hamburg www.hamburg-invest.com Middle East Winner: Dubai FDI, UAE www.dubaifdi.gov.ae Highlight: Dubai www.dubaifdi.gov.ae Africa Winner: GIPC, Ghana www.gipcghana.com Highlight: Accra www.gipcghana.com PAGE 14
ELECTRONICS Latin America and Caribbean Winner: Invest Chile www.investchile.gob.cl Highlight: Santiago de Chile www.investchile.gob.cl North America Winner:Â SelectUSA www.selectusa.gov Highlight: Texas www.businessintexas.com Asia - Pacific Winner: KOTRA, Korea www.kotra.or.kr Highlight: Gyeonggi www.gg.go.kr Europe Winner: Business France www.businessfrance.fr Highlight: Lyon www.aderly.com Middle East Winner: Ministry of Commerce, Qatar www.moci.gov.qa Highlight: Doha www.moci.gov.qa Africa Winner: Invest in Morocco www.invest.gov.ma Highlight: Tangier www.invest.gov.ma PAGE 15
ENVIRONMENT Latin America and Caribbean Winner: Invest Dominica Authority www.investdominica.com Highlight: Dominica www.investdominica.com North America Winner: Invest in Canada www.investcanada.ca Highlight: Ontario www.investinontario.com Asia - Pacific Winner: Invest in China www.fdi.gov.cn Highlight: Beijing www.fdi.gov.cn Europe Winner: Business Finland www.businessfinland.fi Highlight: Tampere www.businesstampere.com Middle East Winner: Abu Dhabi Investment Office www.eia.gov.ae Highlight: Abu Dhabi www.investinabudhabi.ae Africa Winner: Rwanda Development Board www.rdb.rw Highlight: Kigali www.rdb.rw PAGEÂ 16
FINANCE Latin America and Caribbean Winner: ProColombia www.procolombia.co Highlight: Bogota www.investinbogota.org North America Winner: SelectUSA www.selectusa.gov Highlight: New York www.esd.ny.gov Asia - Pacific Winner: EDB Singapore www.edb.gov.sg Highlight: Singapore www.edb.gov.sg Europe Winner: Dept for International Trade, UK www.invest.great.gov.uk Highlight: London www.invest.great.gov.uk Middle East Winner: Dubai FDI, UAE www.eia.gov.ae Highlight: Dubai www.dubaifdi.gov.ae Africa Winner: NIPC, Nigeria www.nipc.gov.ng Highlight: Lagos www.nipc.gov.ng PAGE 17
FOOD Latin America and Caribbean Winner: ProInversión, Peru www.proinversion.gob.pe Highlight: Lima www.proinversion.gob.pe North America Winner: SelectUSA www.selectusa.gov Highlight: Montana www.business.mt.gov Asia - Pacific Winner: Austrade, Australia www.austrade.gov.au Highlight: New South Wales www.invest.nsw.gov.au Europe Winner: Invest in Russia www.investinrussia.com Highlight: Moscow www.investinrussia.com Middle East Winner: Ithraa, Oman www.ithraa.om Highlight: Muscat www.ithraa.om Africa Winner: TIC, Tanzania www.tic.go.tz Highlight: Dar es Salaam www.tic.go.tz PAGE 18
HOSPITALITY Latin America and Caribbean Winner: InvesTT, Trinidad and Tobago www.investt.co.tt Highlight: Tobago www.investt.co.tt North America Winner: SelectUSA www.selectusa.gov Highlight: California www.businessportal.ca.gov Asia - Pacific Winner: BOI, Sri Lanka www.investsrilanka.com Highlight: Colombo www.investsrilanka.com Europe Winner: Invest Cyprus www.investcyprus.org.cy Highlight: Nicosia www.investcyprus.org.cy Middle East Winner: JIC, Jordan www.jic.gov.jo Highlight: Aqaba www.aqabazone.com Africa Winner: Invest in Morocco www.invest.gov.ma Highlight: Casablanca www.smit.gov.ma PAGE 19
ICT Latin America and Caribbean Winner: ProMéxico www.promexico.mx Highlight: Mexico City www.promexico.mx North America Winner: SelectUSA www.selectusa.gov Highlight: California www.businessportal.ca.gov Asia - Pacific Winner: Invest India www.investindia.gov.in Highlight: Hyderabad www.apedb.gov.in Europe Winner: Dept for International Trade, UK www.invest.great.gov.uk Highlight: London www.invest.great.gov.uk Middle East Winner: Invest in Israel www.investinisrael.gov.il Highlight: Tel Aviv www.investinisrael.gov.il Africa Winner: NIPC, Nigeria www.nipc.gov.ng Highlight: Lagos www.nipc.gov.ng PAGE 20
LIFE SCIENCES Latin America and Caribbean Winner: ProColombia www.procolombia.co Highlight: Bogota www.investinbogota.org North America Winner: SelectUSA www.selectusa.gov Highlight: New Jersey www.njeda.com Asia - Pacific Winner: EDB Singapore www.edb.gov.sg Highlight: Singapore www.edb.gov.sg Europe Winner: SGE, Switzerland www.s-ge.com Highlight: Basel www.s-ge.com Middle East Winner: Dubai FDI, UAE www.eia.gov.ae Highlight: Dubai www.dubaifdi.gov.ae Africa Winner: GIPC, Ghana www.gipcghana.com Highlight: Accra www.gipcghana.com PAGE 21
MANUFACTURING Latin America and Caribbean Winner: Apex-Brasil www.apexbrasil.com.br Highlight: Sao Paolo www.investe.sp.gov.br North America Winner: SelectUSA www.selectusa.gov Highlight: North Carolina www.edpnc.com Asia - Pacific Winner: Invest in China www.fdi.gov.cn Highlight: Shenzen www.fdi.gov.cn Europe Winner: Business Belgium www.business.belgium.be Highlight: Wallonia www.wallonia.be Middle East Winner: GAFI, Egypt www.investinegypt.gov.eg Highlight: Cairo www.investinegypt.gov.eg Africa Winner: KenInvest, Kenya www.invest.go.ke Highlight: Nairobi www.invest.go.ke PAGE 22
MARITIME Latin America and Caribbean Winner: Invest Chile www.investchile.gob.cl Highlight: Antofagasta www.investchile.gob.cl North America Winner: Invest in Canada www.investcanada.ca Highlight: British Columbia www.britishcolumbia.ca Asia - Pacific Winner: Invest in China www.fdi.gov.cn Highlight: Shenzen www.fdi.gov.cn Europe Winner: Innovation Norway www.innovasjonnorge.no Highlight: Oslo www.innovasjonnorge.no Middle East Winner: Dubai FDI, UAE www.eia.gov.ae Highlight: Dubai www.dubaifdi.gov.ae Africa Winner: KenInvest, Kenya www.invest.go.ke Highlight: Mombasa www.invest.go.ke PAGEÂ 23
MINING Latin America and Caribbean Winner: ProInversión, Peru www.proinversion.gob.pe Highlight: Junín www.proinversion.gob.pe North America Winner: Invest in Canada www.investcanada.ca Highlight: Quebec www.investquebec.com Asia - Pacific Winner: Austrade, Australia www.austrade.gov.au Highlight: Western Australia www.jtsi.wa.gov.au/invest-in-wa Europe Winner: Invest in Russia www.investinrussia.com Highlight: Sverdlovsk www.investinrussia.com Middle East Winner: Invest Saudi, Saudi Arabia www.investsaudi.sa Highlight: Wa’ad Al-Shamal www.investsaudi.sa Africa Winner: AIPEX, Angola www.aipex.gov.ao Highlight: Lunda Sul www.aipex.gov.ao PAGE 24
OIL AND GAS Latin America and Caribbean Winner: ProMéxico www.promexico.mx Highlight: Veracruz www.promexico.mx North America Winner: SelectUSA www.selectusa.gov Highlight: Texas www.businessintexas.com Asia - Pacific Winner: Austrade, Australia www.austrade.gov.au Highlight: Western Australia www.jtsi.wa.gov.au/invest-in-wa Europe Winner: Dept for International Trade, UK www.invest.great.gov.uk Highlight: Scotland www.sdi.co.uk Middle East Winner: KDIPA, Kuwait www.kdipa.gov.kw Highlight: Kuwait www.kdipa.gov.kw Africa Winner: GIPC, Ghana www.gipcghana.com Highlight: Accra www.gipcghana.com PAGE 25
REAL ESTATE Latin America and Caribbean Winner: ProInversión, Peru www.proinversion.gob.pe Highlight: Lima www.proinversion.gob.pe North America Winner: SelectUSA www.selectusa.gov Highlight: California www.businessportal.ca.gov Asia - Pacific Winner: Kazakh Invest, Kazakhstan www.oldinvest.zed.kz Highlight: Astana www.oldinvest.zed.kz Europe Winner: Dept for International Trade, UK www.invest.great.gov.uk Highlight: Manchester www.invest.great.gov.uk Middle East Winner: GAFI, Egypt www.investinegypt.gov.eg Highlight: New Capital Region www.investinegypt.gov.eg Africa Winner: Rwanda Development Board www.rdb.rw Highlight: Kigali www.rdb.rw PAGE 26
RETAIL Latin America and Caribbean Winner: ProInversión, Peru www.proinversion.gob.pe Highlight: Lima www.proinversion.gob.pe North America Winner: SelectUSA www.selectusa.gov Highlight: California www.businessportal.ca.gov Asia - Pacific Best Country: Invest in Mongolia www.investmongolia.gov.mn Highlight: Ulaanbaatar www.investmongolia.gov.mn Europe Winner: Invest in Turkey www.invest.gov.tr Highlight: Istanbul www.invest.gov.tr Middle East Winner: JIC, Jordan www.jic.gov.jo Highlight: Aqaba www.aqabazone.com Africa Winner: AIPEX, Angola www.aipex.gov.ao Highlight: Luanda www.aipex.gov.ao PAGE 27
SERVICES Latin America and Caribbean Winner: Apex-Brasil www.apexbrasil.com.br Highlight: Sao Paolo www.investe.sp.gov.br North America Winner: SelectUSA www.selectusa.gov Highlight: New York www.esd.ny.gov Asia - Pacific Winner: EDB Singapore www.edb.gov.sg Highlight: Singapore www.edb.gov.sg Europe Winner: Dept for International Trade, UK www.invest.great.gov.uk Highlight: London www.invest.great.gov.uk Middle East Winner: Dubai FDI, UAE www.eia.gov.ae Highlight: Dubai www.dubaifdi.gov.ae Africa Winner: InvestSA, South Africa www.investsa.gov.za Highlight: Cape Town www.investcapetown.com PAGE 28
TELECOMS Latin America and Caribbean Winner: Invest Chile www.investchile.gob.cl Highlight: Santiago www.investchile.gob.cl North America Winner: Invest in Canada www.investcanada.ca Highlight: British Columbia www.britishcolumbia.ca Asia - Pacific Winner: Vietnam Trade Promo Agency www.vietrade.gov.vn Highlight: Hanoi www.vietrade.gov.vn Europe Winner: ICEX, Spain www.investinspain.org Highlight: Madrid www.investinspain.org Middle East Winner: Ithraa, Oman www.ithraa.om Highlight: Muscat www.ithraa.om Africa Winner: CEPICI, Côte d'voire www.cepici.gouv.ci Highlight: Abidjan www.cepici.gouv.ci PAGE 29
TRANSPORT Latin America and Caribbean Winner: Apex-Brasil www.apexbrasil.com.br Highlight: Parana www.apdbrasil.org.br North America Winner: SelectUSA www.selectusa.gov Highlight: Michigan www.michiganbusiness.org Asia - Pacific Winner: MIDA, Malaysia www.mida.gov.my Highlight: Selangor www.investkl.gov.my Europe Winner: Czech Invest www.czechinvest.org Highlight: Prague www.czechinvest.org Middle East Winner: Dubai FDI, UAE www.eia.gov.ae Highlight: Dubai www.dubaifdi.gov.ae Africa Winner: NIPC, Nigeria www.nipc.gov.ng Highlight: Lagos www.nipc.gov.ng PAGE 30
WATER Latin America and Caribbean Winner: CINDE, Costa Rica www.cinde.org Highlight: San Jose www.cinde.org North America Winner: Invest in Canada www.investcanada.ca Highlight: British Columbia www.britishcolumbia.ca Asia - Pacific Winner: Invest India www.investindia.gov.in Highlight: Mumbai www.investindia.gov.in Europe Winner: ABA – Invest in Austria www.investinaustria.at Highlight: Vienna www.investinaustria.at Middle East Winner: Bahrain EDB www.bahrainedb.com Highlight: Manama www.bahrainedb.com Africa Winner: EIC, Ethiopia www.investethiopia.gov.et Highlight: Addis Ababa www.investethiopia.gov.et PAGE 31
INNOVATION Latin America and Caribbean Winner: ProColombia www.procolombia.co Highlight: Bogota www.investinbogota.org North America Winner: Invest in Canada www.investcanada.ca Highlight: Toronto www.toronto.ca Asia - Pacific Winner: Invest India www.investindia.gov.in Highlight: Hyderabad www.apedb.gov.in Europe Winner: SGE, Switzerland www.s-ge.com Highlight: Zurich www.s-ge.com Middle East Winner: Invest in Israel www.investinisrael.gov.il Highlight: Tel Aviv www.investinisrael.gov.il Africa Winner:Â NIPC, Nigeria www.nipc.gov.ng Highlight: Lagos www.nipc.gov.ng PAGE 32
COMMERCE Latin America and Caribbean Winner: Apex-Brasil www.apexbrasil.com.br Highlight: Sao Paolo www.investe.sp.gov.br North America Winner: SelectUSA www.selectusa.gov Highlight: California www.businessportal.ca.gov Asia - Pacific Winner: Invest in China www.fdi.gov.cn Highlight: Shenzen www.fdi.gov.cn Europe Winner: Germany Trade & Invest www.gtai.de Highlight: Hamburg www.hamburg-invest.com Middle East Winner: Dubai FDI, UAE www.eia.gov.ae Highlight: Dubai www.dubaifdi.gov.ae Africa Winner: InvestSA, South Africa www.investsa.gov.za Highlight: Cape Town www.investcapetown.com PAGE 033
INVEST IN OMAN WWW.ITHRAA.OM