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WORLD BIZ THE BUSINESS OF LEADERSHIP

AUTUMN // SEPTEMBER 2019

GLOBAL INVESTMENT ISSUE + The 2019 WORLD FDI AWARDS


World Business Magazine September 2019 Editorial Mike Walters Editor in Chief Giles Anderson 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 team@worldbizmag.com

WB

Published quarterly by prbd global www.prbdglobal.com All Rights Reserved.

THE BUSINESS OF LEADERSHIP


Invest Newswire - 006 Fisk Johnson, SC Johnson CEO - 010

<< Contents

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

Fisk Johnson

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.


<< Contents

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

by Brexit.

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's 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.

ACCELERATE GROWTH.

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.

self-driving business.

www.moneylion.com

www.tier4.jp

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

www.schedulicity.com

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

FINANCING ROUND.

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.heap.io

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

www.nanox.vision

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

www.aquabyte.ai

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.

partners.

The round was led by a controlled affiliate of Starwood Capital

www.criticalstart.com

Group, with continued support from L Catterton and other existing shareholders.

WHEELS UP RAISES $128 MILLION TO ACCELERATE

www.starwoodcapital.com

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.wheelsup.com

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

oceans.

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

company alone.

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

larger predators.

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

aquatic environments.

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


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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

solutions.

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

environment.

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

credits.

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

freedom.

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

sovereign investors.

Institutional, Invesco.

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.

environmental initiatives."

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

spotlight.

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

portfolios.

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

sovereigns.

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


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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. "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&#x20AC;&#x201C; 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

costs."

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

cost.

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

average.

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>>

+91-11-23048155 contact@investindia.org.in

WWW.INVESTINDIA.GOV.IN


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

INNOVATION

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

emission-free option.

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

sustainable transportation."

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

certification.

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

flight operators.

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 at 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

Services.

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


BOGOTA

COLOMBIA

The City of Innovation and your Gateway to Latin America

www.investinbogota.org


HOSPITALITY

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

hub, www.fairmontbeesustainable.com

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

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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

home.

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,

banks:

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

other products).

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

innovate.

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

necessary transformation."

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

market 4:1.

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

NJF Capital

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, 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


the privilege of the few. We estimate that the economic

About nanox

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-

About nanox.vision

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 visit 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.

possible."

Website: www.sktelecom.com PAGE 048


A LAND FOR BREAKING PRODUCTION RECORDS

PARANA STATE BRAZIL

www.apdbrasil.org


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.

PAGE 050


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

infrastructure.

Siemens.

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

proportions.

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

30%.

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,

of GDP.

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

period.

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

Saudi staff?

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

prospective investors?

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

PAGE 057


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

PAGEÂ 062


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

PAGE 063


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.

PAGE 064


"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

their problems.

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

duopoly.

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

publishers.

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

table.  

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

supply chain.

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, 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.  All program participants are audited and certified by an independent third party, 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

researchers worldwide.

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

Lead.

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.,

Statistician.

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

Leukemia

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

INFRASTRUCTURE

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

services.

from around the world are implemented in the Kaluga Region.

REGION WHERE IT IS NICE TO LIVE

CLUSTERS:

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-

Metal Processing

mentioned areas.

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

region.

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

School project.

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

signed.

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


FAST TRACK YOUR IDEAS

ISRAEL A UNIQUE INNOVATION ECOSYSTEM Among the 5 best startup ecosystems worldwide The 2nd most innovative nation in the world The worldâ&#x20AC;&#x2122;s 2nd highest R&D expenditure, over 4% GDP 350 global tech leaders launched innovation centers in Israel Developed over 150 programs for startups & over 90 VC funds Over 1,000 exits between 2006-15, with $60 billion in capital

THE SOLUTION IS OPEN INNOVATION THE DESTINATION IS INNOVATE ISRAEL WWW.INNOVATE-ISRAEL.COM


CARRIER PARTICIPATES IN HABITAT FOR HUMANITY® CARTER WORK PROJECT Carrier will provide 21 high-efficiency home comfort systems for Nashville-area project. Building on a two decade legacy of support for Habitat for

be paired with an Infinity® control, allowing for even greater

Humanity, Carrier will once again participate in Habitat for

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&#x20AC;&#x201D; 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

Zealand/Australia.

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

health.

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

Favourable conditions

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

community.

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

INNOVATION

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,

www.investselangor.my

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

businesses.

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

Hills, Minn.

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.

PAGE 100


A land for breaking production records

• Abundant and skilled workmanship force. • More than 500 thousand students in college level

FAVORABLE ENVIRONMENT

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

ENERGY SECURITY

Mercosul consumers.

• 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

INFRASTRUCTURE

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.

REPUTATION

• 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

municipalities).

Quality of Life in Latin America. • The most reliable utility companies in the country

HUMAN POTENTIAL

(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

LIFE SCIENCES

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

established brands.

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.

ENERGY

• 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.

various sizes.

• 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

economic development.

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

potential consumers.

positioned itself as one of the main business centers of Latin America, Bogota offers a base that comes fully equipped for

Market

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

Business Environment

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

Cost structure

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 Bogota 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

www.apexbrasil.com.br


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

Key Findings:

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

mixed boards.

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

Keith Steven

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

Low Taxes

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


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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

equipment applications.

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


QUANTUM COMPUTING

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

exchange ideas.

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


VENTURE CAPITAL

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

employees to:

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

real-time platform.

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

About Samsara

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

taxpayer dollars.

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

in 2020.

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

board."

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

experiments."

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

mobility.

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

community."

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

disciplines.

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.

million.

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


Economy

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

investors.

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

Investment Incentives

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,

and investments.

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

PAGE 133


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

feedback.

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

PAGE 137


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


AGRICULTURE

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

ore workings.

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


INNOVATION

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


THE HIKE MAGAZINE

Cybershoes®

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


Sugarfina Mexico

THE HIKE MAGAZINE

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


JOINT VENTURE

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,

crushing capacity.

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

Advisors

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

Transaction Summary

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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Gantri Lighting

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


CSR LEADER

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

transaction.

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

continents.  

support organizations doing outstanding work. In addition to company donations and support, Hilco Global

Website: www.hilcoglobal.com

employees also get involved by donating time to relief efforts in disaster zones, churches, and schools across the

About Hilco Helps

country.

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


CSR LEADER

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.

Website: www.MedelaBreastfeedingUS.com

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


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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

PAGE 159


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

students nationwide.

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

generosity."

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


THE HIKE MAGAZINE

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&#x20AC;&#x2122;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

affordable appliances."

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 leading 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


INTELLIGENT WEARABLES

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

Petit Manseng.

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

environmental policies.

expertise. PAGE 165


ARTIFICIAL INTELLIGENCE

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

best quality.

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


MIDDLE EAST

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.

include Java, JavaScript, Node. JS, React and Redux as well

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


CSR LEADER

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


www.rdb.rw

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


LEADERSHIP

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


CSR LEADER

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

Dominican students.

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,

dependability."

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

www.worldbizmag.com

awards@worldbizmagine.com


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

SELECTED BY

CONTACT

World Biz Magazine

www.worldbizmag.com

WorldFDI

www.worldfdi.com

PAGE 02


INTRODUCTION >>

THE WORLD'S BEST INVESTMENT PROMTION AGENCIES

CONGRATULATIONS!

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

North America

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

Middle East

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

Europe

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

Africa

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

Profile for PRBD Global

World Biz Magazine - Autumn 2019 (including World FDI Awards 2019)  

World Biz Magazine - Autumn 2019 (including World FDI Awards 2019)  

Profile for destig