WORLD BIZ THE BUSINESS OF LEADERSHIP
WBM / Q3 - 2022
DIANE WANG DHGATE'S CEO - A NEW ERA FOR E-COMMERCE
LEADERSHIP AWARDS | INNOVATION | CEO INTERVIEWS | BANKING AWARDS | LIFESTYLE
A ROCKET ON THE WRIST THE HISTORICAL FREAK COLLECTION HAS REACHED A NEW ORBIT. SHOCK WAVE
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The new high-tech watchmaking masterpiece developed by Ulysse Nardin is taking off, driven by a powerful solar wind. Ulysse Nardin looked to the brightest stars of the cosmos for inspiration for this new interpretation of the Freak. At first glance, the brand’s pioneering new watch resembles a space vessel with twin reactors. This creation combining all the superlatives came into being thanks to the expertise of an integrated Manufacture; it represents the expression of contemporary luxury masterfully manifested in an avant-garde watchmaking design.
World Business Magazine September 2022 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 Zizou Mikel Director Yeliz Cilar www.worldbizmagazine.com email@example.com
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THE BUSINESS OF LEADERSHIP
PRECIOUS PERSONALISATION: TWO VERSIONS, FOURTEEN POSSIBILITIES
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WBM SEPTEMBER 2022 - CONTENTS 010. INTERVIEW - DIANE WANG, CEO OF DHGATE
156. URSA MAJOR 3D PRINTING FOR ROCKETS
018. INTERVIEW - CHARLES BROWN, CEO OF LIFELABS
158. KARMA AUTOMOTIVE DEFINING LUXURY
024. GLOBAL TOP 100 BANKING LEADERS
160. HELIOS PIONEERS CARBON-FREE IRON
036. WORLD BANKING AWARDS 2022
164. FLYING WHALES - TRANSFORMING AIR CARGO
046. FIVE BUSINESS SOLUTIONS IDEAL FOR AI
166. KPMG 10 PREDICTIONS FOR TALENT MOBILITY
050. WELCOMING AMAN NEW YORK
168. A GUIDE BOOK FOR INVESTORS IN ITALY
053. TOP 100 INNOVATION LEADERS 2022
170. CROWNE PLAZA ON BLENDED TRAVEL
124. GEM, GLOBAL RECYCLING LEADER - PROFILE
174. INTERVIEW - KIM RIVERS, CEO OF TRULIEVE
134. THE RITZ CARLTON DEBUTS IN MANHATTAN
180. SUMIR MEGHANI, CEO OF INSTAWORK
138. QUANTUM COMPUTING AND D-WAVE
188. KATTIYA INDARAVIJAYA, CEO OF KBANK
144. INVESTOR PROFILE - TENARIS
192. FORMER CEOS LAUNCH SILK ROAD PARTNERS
146. U.S. MONEY RESERVE ON CRYPTO'S COLLAPSE
194. HUMAN CENTERED CEOS FUEL PERFORMANCE
148. RECOVERING STOLEN CRYPTO
196. DIGITAL SMELL - OPPORTUNITY IN E-NOSES
152. SWISS CLEAN BATTERY NEW GIGAFACTORY
200. REASONS TO INVEST IN OMAN
154. FLORIDA AND TEXAS LEAD USA INNOVATION
204. CDP FINANCES GREEN ENERGY IN RURAL PERU
MONTE-CARLO ICONIC HOTELS AND RESIDENCES
World Biz Magazine - Luxury Selections
ITS TIME FOR NEW YORK CITY Find out more: www.nycgo.com
INTERVIEW - DIANE WANG FOUNDER, CHAIR AND CEO OF DHGATE
Diane Wang, an original internet pioneer with over 20 years of experience running online businesses, has thrived through every phase of the digital revolution.
Ms. Wang is also an active civil servant, she was appointed to serve on the APEC Business Advisory Council (ABAC) in recognition of her expertise and status as a leading advocate for the development of SMEs (Small-Medium-Enterprises) worldwide. Ms. Wang is the co-chair of the ABAC SME Working Group and Co-Chair of the APEC Women Leadership Forum. Ms. Wang is the first Rotating Chairperson of the Entrepreneurs Committee of the China SME Alliance. Ms. Wang also serves as the Chinese Representative to the G20 Business Summit (B20).
Before founding DHgate, Ms. Wang co-founded and served as CEO of Joyo.com, which at the time was the largest B2C (Business-to-Consumer) online marketplace in China and eventually became Amazon China. Prior to Joyo.com, she held positions as an executive for Microsoft and Cisco.
"The relationship between the production and consumption in the global trade, as well as the global supply chain, is being reshaped. This is an unprecedented era of crossborder trade for entre-preneurs to participate in the light way, which we call as a “new social commerce era for MSMEs”. This marks a new era for global trade."
WBM - Please share with us some insight in to your career to this point. DW - I am the founder, chairperson and CEO of DHgate, one of the leading B2B cross-border ecommerce platforms in China. I launched the platform in 2004. By connecting micro, small, and medium-sized enterprises (MSMEs) from every corner of the world with high-quality products, DHgate takes a stand for fair world trade and upholds diversity and creativity. I have leveraged over 30 years of business and digital experience to drive DHgate’s mission to empower people through digitalization. The critical focus of the organization is accelerating digital transformation for MSMEs and partners, empowering women and societies through digital inclusion. As of December 31, 2021, DHgate served more than 46 million registered buyers from 223 countries and regions by connecting them to over 2.4 million sellers in China and other countries, with over 37 million live listings on the platform annually.
"To spearhead the booming trends of decentralization and Generation Z, DHgate launched MyyShop in the second half of 2020, a one-stop social commerce SaaS platform. MyyShop aims to help MSMEs, especially entry-level merchants and individuals with social influence, run their own online stores as direct sellers and turn their impact into a good business."
Before founding DHgate, I served as the youngest senior executive at Microsoft China and the only female in a top position at Cisco. In 1999, as a member of the first generation of e-commerce entrepreneurs in China, I established Joyo.com, China’s first B2C trading platform. WBM - Please share some insight into how global trade is evolving and how DHgate.com has reacted to this.
ndividuals with social influence, run their own online stores as direct sellers and turn their impact into a good business. To date, the number of registered users for MyyShop has surpassed 100,000 in the African market alone. Less than two years after launching, MyyShop is currently boosting more than 2.26 million products and working with more than 110,000 online influencers worldwide. In the first quarter of 2022, the number of active users on MyyShop has achieved year-on-year growth of 76.3%, while the number of paid users on MyyShop has achieved a year-on-year increase of 65.6%.
DW - The relationship between the production and consumption in the global trade, as well as the global supply chain, is being reshaped. This is an unprecedented era of cross-border trade for entrepreneurs to participate in the light way, which we call as a “new social commerce era for MSMEs”. This marks a new era for global trade. Back to 2020, DHgate had spotted and prepared well for the industrial shift to decentralization. The rise of social media and emerging new consumer groups are game changers. To spearhead the booming trends of decentralization and Generation Z, DHgate launched MyyShop in the second half of 2020, a onestop social commerce SaaS platform. MyyShop aims to help MSMEs, especially entry-level merchants and
Our cross-border Influencer marketing service enjoyed fast growth. In 2022 Q1, it has grown by 5 times compared to the same period in 2021. Currently, MyyShop works with more than 50,000 influencers and content creators worldwide.
"To date, the number of registered users for MyyShop has surpassed 100,000 in the African market alone. Less than two years after launching, MyyShop is currently boosting more than 2.26 million products and working with more than 110,000 online influencers worldwide. In the first quarter of 2022, the number of active users on MyyShop has achieved year-on-year growth of 76.3%, while the number of paid users on MyyShop has achieved a year-on-year increase of 65.6%."
WBM - Kindly share your thoughts on the importance of an innovative mind-set in leadership and some examples of how this thrives at DHgate.
Complying with technology development at different times, our service has been evolving from a centralized platform to a transaction-integrated, service-integrated platform, to a one stop social commerce SaaS platform. Also, as we are now in a social era, people are less exposed to brick-andmortar goods and services, in this regard we emphasize that MyyShop is aiming to help monetize social traffic. We have accumulated the advantage of supply chain, and the biggest differentiator compared with the other SaaS platform is that we do not only provide site building services and tools, but we also have the ability to provide a full set of fulfillment services on top of website building, and the support of supply chain in our own ecosystem.
DW - Innovation is a must-have for businesses to survive and thrive. With innovation as our DNA to drive business growth in the past 18 years, DHgate has become a B2B cross-border e-commerce online transaction and service platform, with the largest market share in the US market and the secondlargest market share in the world. In the future, innovation will continue to receive great emphasis in the company’s strategy and development. I believe the digital tool is a perfect solution for MSMEs, who should revisit their digitalization in the organization, digital transformation strategy regularly, proactively identify the challenges and opportunities for internal efficiency improvement and external innovation to keep business thriving.
For example, supported by our TikTok Analytics Tool, we help MyyShop users stay on top of the most popular trends and find their own winning products with a few clicks. Compared with other domestic SaaS service providers, our all-round service is more comprehensive than those focusing on site builder or certain services.
In my view, E-commerce has gone through PC, mobile and social stages, and the emergence of Generation Z boosts new business models catering to niche markets and unique demands. We see strong growth in this new model, including the growth of the creator economy and social ecommerce around the world. DHgate's strategy is to focus on the continuous growth of the global social commerce sector, the Group’s dual-driving engine of DHgate.com and MyyShop offers both a centralized and decentralized model as well as comprehensive products and services; this is also our unique advantage in the industry,
WBM - Please share with us some of the unique advantages that enables DHgate to stand out in its space globally. DW - DHgate has a deep understanding of Chinese sellers and overseas buyers in the B2B cross-border e-commerce industry. DHgate relies on its 18-year history of brand credibility, technology strength in AI and big data, and its comprehensive set of services in the cross-border e-commerce industry.
By leveraging the power of e-commerce to transform the cross-border trade, DHgate has empowered both the sellers and the buyers, including helping domestic small and medium-sized enterprises to connect directly with the global market, as well as small and medium-sized overseas retailers to access the high quality and competitive prices products.
WBM - Share with us the current obstacles to women empowerment in emerging markets and DHgate's role in helping to overcome them. DW - Digitalization offers a lot of opportunities for women empowerment, and for a more equal participation in labor markets, financial markets, and entrepreneurship. In fact, entrepreneurship is often the only alternative for labor force participation for women in the emerging markets.
By December 31, 2021, with an annual average of more than 37 million online products, DHgate has more than 2.4 million registered suppliers and 46.6 million registered buyers. DHgate boasts more than 100 cross-border logistics routes and more than 10 overseas warehouses. With global offices located in North America, Latin America, Europe, and other areas, DHgate also supports 71 currencies.
However, current gender inequalities may prevent women from fully benefiting from these opportunities. In many emerging and developing economies, legal and cultural restrictions towards female autonomy tend to prevent women from accessing digital tools.
Even in the most developed G20 countries, lower female enrolment rates in higher education, deters women from fully realizing the chances offered by digitalization.
"In many emerging and developing economies, legal and cultural restrictions towards female autonomy tend to prevent women from accessing digital tools. Even in the most developed G20 countries, lower female enrolment rates in higher education, deters women from fully realizing the chances offered by digitalization."
An APEC Women Digital Usage Survey conducted last year shows, out of a total of a 500 senior manager from Women MSMEs across 21 APEC member economies, 63% of female respondents referred to a “lack of professional digital skills” and more than 50% expressed a strong need for training in digital tools. Not to mention, the COVID-19 pandemic has intensified a fundamental weakness of women MSMEs in their digital capabilities. In the developing markets, they are struggling with digital migration and are unable to adapt quickly because they lack the necessary technology.
years; only in the past year, we have successfully trained 100,000 MSMEs. And the project has been recognized and endorsed by the leaders of UN, APEC, and G20 countries.
Working in the digital trade business for decades, we observed the rising social commerce opportunities, especially for women. To empower more people with knowledge and skills to upscale digital capabilities, DHgate launched the Cross-Border Ecommerce Training program called APEC CBET in 2014. It is a comprehensive capacity-building program, that aims to empower local MSMEs to go global through digital platforms like cross-border ecommerce. It offers e-learning courses with the most practical and hands-on knowledge, skills, and entrepreneurial guidance through live broadcasting, to enable underprivileged women to have the entrepreneurial ability of social e-commerce.
Last year, 756 female entrepreneurs from all over the world, mainly from Africa, America, Asia and Europe took part in the competition. The story of Miriam Febechukwu is very inspiring. Coming from Nigeria, she is the champion of last year’s competition. Due to the inequity she faced in the workplace, she quit her job despite her medical background and then leveraged the power of ecommerce to start her own business. Now she has made a difference in the e-commerce world by making a living from the e-commerce business and helping other women to succeed in this field.
I’d like to share the case of Ms. Miriam Febechukwu, a Nigerian lady who quit her job due to workplace discrimination. She attended our APEC CBET and MyyShop training program last year, which provided her with much easier access to cross-border ecommerce. MyyShop enabled her to start online business in a much lighter way, make it easier for her from product selection to order fulfillment. Her baby and maternal product sales are reaching US$50,000 only six months after she started the business. And she has no doubt that the sales on MyyShop will reach US $1 million in 2022.
My unchanged belief is women help women. Being one of the first-generation women entrepreneurs in China in the internet era, I have committed in engaging with international organizations such as ABAC, B20, BRICS Women's Business Alliance (WBA) and associated working groups that uphold women economic participation, promoting gender equality and inclusion, and many more for years. Our goal is to connect the dots across different organizations, coordinate efforts and maximize resources. More importantly, increase visibility to get women's voices heard. I also request my team to provide more chances for women leaders to show
The project has successfully trained hundreds of thousands of MSMEs, women entrepreneurs, and policymakers across over 50 economies in the past 7
"My unchanged belief is women help women. Being one of the first-generation women entrepreneurs in China in the internet era, I have committed in engaging with international organizations such as ABAC, B20, BRICS Women's Business Alliance (WBA) and associated working groups that uphold women economic participation, promoting gender equality and inclusion, and many more for years."
"In the new stage, we are exploring new possibilities in the crossborder e-commerce industry driven by social media. Combining DHgate and MyyShop, we are further expanding our businesses and developing decentralization products. In the era of social commerce for micro-traders, we aim to empower all the participants in every step in the cross-border e-commerce business." "In my eyes, a good leader should have the capability to help others succeed in the market. As founder, chairperson and CEO of DHgate, I always work with my management team to come up with the company’s strategy and future vision, so that our employees can have a clearer direction for future development. In addition, we will also give them the resources, training and support they need to accomplish their business goals."
their talents and demonstrate their unique strengths in the world. We have worked with the APEC Business Advisory Council and APEC Women Connect to launch Her Power Entrepreneurship Competition, which works as a platform to unlock new thinking for business women, inspire them by leveraging digital tools and give them a chance to show their presence and visibility in the world of business.
WBM - What changes can you see coming up and how will DHgate react to them? DW - According to Accenture, the growth rate of global social commerce will be triple that of traditional e-commerce in 2025, reaching the US $1.2 trillion, accounting for 62% of global ecommerce spending. As the first generation in the mobile internet era, Generation Z are dominating the voices in social media, leading the popular culture and greatly influencing the consumption. Their strong and highfrequency willingness to consume is leading the global consumption trend and bringing great changes to the global trade.
I advocate an inclusive, empowering culture in the company and the company policies are designed to create equal work environment for male and female employees, which is quite important to the continuous development of the company. At DHgate, women are granted fair opportunities and enjoy same rights and benefits as men in terms of recruitment, promotion, talent development and other areas. Currently, the proportion of women employees reached 55.72% in 2020, and the share of female leaders has risen to 40.79%. In addition, women can enjoy other benefits, like at least 128 days of full-pay maternity leave, baby care rooms for new moms and so on.
DHgate has always been paying attention to the consumption power of Generation Z and the continuous impact caused by the pandemic. We aim to accelerate the digital transformation of traditional global trade. In the new stage, we are exploring new possibilities in the cross-border e-commerce industry driven by social media.
About DHgate Founded in 2004, DHgate is a B2B cross-border ecommerce online transaction and service platform headquartered in China, with branch offices in North America, Latin America, Europe, and other places. It is also a global one-stop trade and service platform for small and medium retailers, which is the largest platform in the US market. DHgate focuses on the small B2B sector, providing small and medium-sized enterprises (SMEs) in the cross-border e-commerce industry with full services. Such services, including store operation, traffic marketing, warehousing and logistics, payment and finance, customer service, risk control, customs inspection and remittance, and business training, empower Chinese manufacturers to connect with the global market. DHgate has established a competitive and unique advantage in four areas that aren't easy to replicate, including branding, technology, operation, and users. As of the end of 2021, we serve more than 46 million registered buyers from 223 countries and regions by connecting them to over 2.4 million suppliers in China and other countries, with over 37 million live listings on the platform. It has more than 100 international logistics routes and over 10 overseas warehouses.
Combining DHgate and MyyShop, we are further expanding our businesses and developing decentralization products. In the era of social commerce for micro-traders, we aim to empower all the participants in every step in the cross-border ecommerce business.
DHgate is one of the third-party e-commerce platforms for China’s foreign trade recommended by the Ministry of Commerce of the People's Republic of China. DHgate hosts the national engineering laboratory for cross-border e-commerce transaction technology, supported by the National Development and Reform Commission China. The company is the pilot company of e-commerce transaction risk control and prevention, endorsed by the Ministry of Science and Technology China. Further, it is the key enterprise of the national e-commerce index recommended by the Ministry of Industry and Information Technology China, promoting as a pilot company by the Ministry’s E-commerce Institution Management Certification Center.
WBM - What makes a good leader? DW - In my eyes, a good leader should have the capability to help others succeed in the market. As founder, chairperson and CEO of DHgate, I always work with my management team to come up with the company’s strategy and future vision, so that our employees can have a clearer direction for future development. In addition, we will also give them the resources, training and support they need to accomplish their business goals. As the leader in the cross-border e-commerce industry, DHgate is adhering to the spirit that helping others succeed will lead us to success. This has been our approach from Day 1 when the company was established. In the de-centralized era, DHgate is willing to join hands with the new generation to build up a new era of global trade.
In 2020, DHgate launched a new cross-border ecommerce SaaS platform – MyyShop, a new decentralized ecological strategy. For more information, visit: dhgate.com
INTERVIEW - CHARLES BROWN PRESIDENT AND CEO OF LIFELABS
Charles Brown, President and CEO of LifeLabs Medical Laboratory has been selected by the Judges of World Biz Magazine's Annual Awards to be a recipient of the Top 100 CEOs in Innovation Award 2022.
Charles Brown is President and CEO of LifeLabs Medical Laboratory, a leading Canadian-owned company that has been serving the healthcare needs of Canadians for more than 50 years. Each year LifeLabs performs approximately 120 million laboratory tests to help diagnose, treat, monitor and prevent diseases for millions of Canadians.
This selection follows a stringent process that evaluated over 40,000 nominees to select the exclusive list of 100 winners.
Charles is committed to the optimization of service delivery to provide better outcomes for customers, patients, medical professionals and the broader
Charles appears in the Top 10 of the 100 winners.
healthcare system. Since joining LifeLabs in 2018, he has worked to evolve LifeLabs into a commercially driven organization that brings customer-centred value to market. By showcasing the possibility of delivering value-based outcomes, Charles empowers his employees to make a difference and facilitate innovative change. During COVID-19, Charles’ leadership empowered the team to quickly pivot and adapt to respond to the pandemic by providing essential COVID-19 testing, while maintaining full operation of lab testing and diagnostic work.
"Leadership is about selflessness. It’s not about you. As the President and CEO, my role is to support my leadership team and keep things moving along by removing barriers and getting out of the way. It is important to trust your team and their expertise because being a leader is not about knowing everything and doing it all on your own; it is about working together and helping one another. It’s especially rewarding seeing employees succeed after giving them the space and support they need to succeed."
Charles was named one of the Top 25 Biotechnology CEOs by the Healthcare Technology Report in 2021 and 2022. Charles was also nominated in 2022 by an external research team to receive the prestigious ‘Top Industry Leader’ award from Life Sciences Voice, being recognized amongst a list of distinguished leaders from BioPharma, BioTech, and related sectors.
WBM - Tell us about your leadership style. CB - Leadership is about selflessness. It’s not about you. As the President and CEO, my role is to support my leadership team and keep things moving along by removing barriers and getting out of the way. It is important to trust your team and their expertise because being a leader is not about knowing everything and doing it all on your own; it is about working together and helping one another. It’s especially rewarding seeing employees succeed after giving them the space and support they need to succeed. From my years of experience in a leadership role, I learned that humble people are great listeners and being a leader requires a lot of listening. A humble leader is also more approachable and builds authentic relationships easily based on trust, as result.
to you better. Most of my career was involved in technology and retail industries, which has helped me fuel my curiosity and pursuit of prioritizing the customer. This is an essential element in the healthcare industry. More than ever, advancements in technology are tied to the customer experience.
WBM - You have overseen LifeLabs’ evolution into a “commercially driven organization that brings customer-centred value to market” - what are the origins of your vision of customercentricity?
At LifeLabs, we are looking at all aspects of our business to improve on this and we are modernizing our own information technology to ensure we have the capacity to grow and safeguard our customers’ data.
CB - From an early age, I realized that if you provide the experience your customers want, they respond
"Each year, LifeLabs perform approximately 120 million laboratory tests to help diagnose, treat, monitor and prevent diseases for Canadians. The customer is as the centre of our operations and the driving force behind our pursuit of excellence. We are committed to empowering healthier lives of Canadians."
WBM - LifeLabs is a proudly 100% Canadianowned company that has been serving the healthcare needs of Canadians for more than 50 years. Share some insight into this special role that LifeLabs plays in Canadian healthcare.
LifeLabs is constantly seeking opportunities to reconsider past traditions and to develop creative approaches to meet and exceed the requirements of our new reality. Some areas that we have evolved include an electronic ordering system for lab testing to replace requisitions and improving our customer portal so customers access their test results easier and make informed decisions to guide their healthcare journey.
CB - LifeLabs started off as a small lab in BC in the 1950s and a lab in ON in the 1960s by a group of entrepreneurs from IBM with a vision of providing business and systems support to healthcare professionals. Fifty years later, we have now grown to be Canada’s largest lab provider. Each year, LifeLabs perform approximately 120 million laboratory tests to help diagnose, treat, monitor and prevent diseases for Canadians.
During the pandemic, we implemented “FlyClear”, a pre-departure and on-arrival testing service to support airlines and countries that requires proof of COVID-19 clearance, and “WorkClear”, a customized screening and consulting program designed to help organizations in Canada manage and reduce the risk of a COVID-19 transmission within the workplace.
The customer is as the centre of our operations and the driving force behind our pursuit of excellence. We are committed to empowering healthier lives of Canadians. Behind every lab requisition, sample being tested and business decision to invest in technology, there is an individual and their family counting on us. They motivate us every day to deliver that high quality, accurate service our customers depend on each day that also fuels our culture of continuous improvement so we can achieve excellence.
Partnerships with the community has helped us improve the customer experience as well. We recently partnered with the Stellat’en First Nation, Village of Fraser Lake, the First Nations Health Authority (FHNA), the Rural Coordination Centre of BC (RCCbc), University of British Columbia’s Faculty of Medicine and Faculty of Pharmaceutical Sciences, and Drone Delivery Canada (DDC) to investigate how drone technology can be used to improve healthcare for rural and remote First Nations communities.
WBM - Share with us some of LifeLabs’ recent investments in advanced technologies for healthcare.
New technologies such as drones can present opportunities to deliver health services closer to home, improving accessibility to certain medical support for people in remote and rural communities.
CB - Innovation is imperative during these unprecedented times to adapt to the ever-changing healthcare needs of Canadians.
WBM - What are some of the valuable lessons you have learned from the COVID-19 pandemic?
Having visible leadership during a crisis proved to be vital. We prioritized communication, and at times over-communicated, to our staff ensuring they were aware of updates, goals, and the direction the organization was headed. On a personal level, I believe showing appreciation is essential. I have personally reached out and thanked employees prior to COVID-19 but showing my appreciation during times of uncertainty was even more important.
CB - The past two years of the pandemic have given us many lessons that we can leverage into the future. We used this tactic during the SARS outbreak in 2003, which prompted us to create a pandemic plan. Because of this reflection, we were able to immediately respond to COVID-19 when it was officially declared a pandemic. We ensured our frontline employees had full personal protection equipment at the start and procured a good level of inventory of PPE stock.
WBM - “Caring” is highlighted as one of LifeLabs’ core values. Tell us how this is incorporated in your business.
The pandemic truly tested our organization and team’s resilience and agility. We learned to adapt to a constant evolving situation, while being customer focused. We had to be more innovative and come up with new processes and technology advancement to adapt to the situation. Our employees continued to provide quality care to customers despite managing their own struggles of the pandemic.
CB - LifeLabs’ core mission is to be a valued healthcare partner for Canadians, providing reliable service and trusted results. We are focused on empowering the healthier version of the lives of Canadians. We want to make diagnostic insights accessible, so our customers are empowered to make choices to live their best lives.
Internally as an organization, we encourage our employees to live by the value of “caring” by supporting incredible organizations in communities across Canada. Our Employee Giving Program supports any employee who donates, fundraises, or volunteers for a Canadian Registered Charity or Non-Profit Organization. LifeLabs matches up to $200 a year per employee.
"LifeLabs’ core mission is to be a valued healthcare partner for Canadians, providing reliable service and trusted results. We are focused on empowering the healthier version of the lives of Canadians. We want to make diagnostic insights accessible, so our customers are empowered to make choices to live their best lives."
We also focus our impact on sustainability. With the rising concerns of climate change, we launched a new ozone water treatment system for labs in BC to help keep the environment clean. The water treatment system reduces the impact of our operations by removing contamination from wastewater generated in our labs before it re-enters the public waterworks WBM - How have you created an equitable and inclusive environment for your team at LifeLabs? CB - Creating an equitable and inclusive environment where our employees feel safe and empowered to bring their whole selves to work is pivotal to our culture, how we serve our communities, and how we show up as leaders. In 2020, we initiated our Stronger Together @ LifeLabs diversity, equity, and inclusion (DEI) program. It’s grounded in our vision of ensuring all individuals – no matter their race, gender, beliefs, preferences, age, abilities, and etc. – feel accepted, respected, and valued at LifeLabs. Our team members responded with passion and commitment. We now have a DEI Council and Employee Resource Groups working to drive education, awareness and inclusive practices. We know that this is a journey and we are committed to learning, listening and creating a safe space for discussions so that we can all grow and respond in a meaningful and impactful way. WBM - What are some of the biggest challenges your industry is facing? CB - Historically, healthcare faces numerous regulatory obstacles and barriers. Oddly enough, COVID-19 gave us a chance to take on new challenges and think outside of the box. The pandemic challenged our mindset to be more agile and encouraged more collaboration internally within our organization and externally with the healthcare industry and other industries in the world.
WBM - LifeLabs has received many awards recently, including - Top 25 Biotech CEOs” for the second consecutive year, Top 100 of Canada’s Best Employers of 2022 by Forbes, and “Top Industry Leader” award from Life Sciences Voice. What do these recognitions mean to you? CB - It has been an such an honour to be recognized. It has been a great motivator to see the hard work of our team be appreciated by our industry and the community. Our team shows up every day embodying our values, while continuously supporting our customers and the healthcare community. These awards are testaments to their contribution and resiliency in responding to so much uncertainty these past two years. It such a privilege to work with everyone at LifeLabs and I look forward to what we will achieve together in the future. ---------------------------------------------------------------------------
LifeLabs is Canada’s leading provider of laboratory diagnostic information and digital health connectivity systems, enabling patients and health care practitioners to diagnose, treat, monitor, and prevent disease. We support 20 million patient visits annually and conduct over 100 million laboratory tests through leading edge technologies and our 6,000 talented and dedicated employees. We are a committed innovator in supporting Canadians to live healthier lives, operating Canada’s first commercial genetics lab, and the country’s largest online patient portal, with more than 5 million Canadians receiving their results online. LifeLabs is 100% Canadian owned by OMERS Infrastructure, the infrastructure investment manager of one of Canada’s largest defined benefit pension plans. Learn more at: lifelabs.com
"Now more than ever, the success of a business depends on the combination of technology and customer experience. It is crucial for the healthcare industry to recognize this and put customers at the heart of everything they do. This momentum of change will hopefully continue to push innovation and technology forward for healthcare." PAGE 23
Chen Siqing, Chairman of ICBC is at Number 1
GLOBAL TOP 100 BANKING LEADERS World Banking Awards by World Biz Magazine ranks the Top 100 Leaders of the Banking Industry.
#4 - Liu Liange Chairman Bank of China (China)
#1 - Chen Siqing Chairman and Executive Director Industrial and Commercial Bank of China (China)
#5 - Hironori Kamezawa President and Group Chief Executive Officer Mitsubishi UFJ Financial Group (Japan)
#2 - Tian Guoli Chairman and Executive Director China Construction Bank Corporation (China)
#6 - Jamie Dimon Chairman and Chief Executive Officer JPMorgan Chase & Co. (USA)
#3 - Shu Gu Chairman and Executive Director Agricultural Bank of China (China)
#7 - Noel Quinn Group Chief Executive HSBC Bank (U.K)
#8 - Jean-Laurent Bonnafé Director and Chief Executive Officer BNP Paribas (France) #9 - Brian Moynihan Chair of the Board and Chief Executive Officer Bank of America (USA) #10 - Zhao Huan Chairman China Development Bank (China) #11 - Philippe Brassac Chief Executive Officer Credit Agricole Group (France) #12 - Charles W. Scharf Chief Executive Officer and President Wells Fargo & Company (USA) Jane Fraser, CEO of Citi is at Number 16
#13 - Norito Ikeda Director, President and Executive Officer Japan Post Bank (Japan) #14 - Masahiro Kihara Group Chief Executive Officer Mizuho Financial Group (Japan)
#21 - Laurent Mignon Chief Executive Officer Groupe BPCE (France)
#15 - Jun Ohta Group Chief Executive Officer Sumitomo Mitsui Financial Group (Japan)
#22 - Ren Deqi Chairman and Executive Director Bank of Communications (China)
#16 - Jane Fraser Chief Executive Officer Citigroup (USA)
#23 - Liu Jianjun Executive Director and President Postal Savings Bank of China (China)
#17 - Christian Sewing Chief Executive Officer Deutsche Bank (Germany)
#24 - Charlie Nunn Executive Director and Group Chief Executive Lloyds Banking Group (U.K)
#18 - Ana Botín Group Executive Chair Banco Santander (Spain)
#25 - David McKay President and Chief Executive Officer Royal Bank of Canada (Canada)
#19 - C.S. Venkatakrishnan Group Chief Executive Barclays Bank (U.K)
#26 - Steven van Rijswijk CEO and Chairman Executive Board ING Group (Netherlands)
#20 - Frédéric Oudéa Chief Executive Officer Societe Generale (France)
#27 - Bharat Masrani Group President and Chief Executive Officer TD Bank Group (Canada)
Steven van Rijswijk, CEO and Chairman of ING Group is at Number 26
Alison Rose, Group CEO of NatWest Group is at Number 30
#28 - Kazuto Oku Director, President and Chief Executive Officer Norinchukin Bank (Japan)
#34 - Pierre-Edouard Batard Chief Executive Officer Crédit Mutuel Group (France)
#29 - Andrea Orcel Group Chief Executive Officer UniCredit (Italy)
#35 - Ralph Hamers Group Chief Executive Officer UBS Group (Switzerland)
#30 - Alison Rose Group Chief Executive NatWest Group (UK)
#36 - Zheng Yang Chairman and Executive Director Shanghai Pudong Development Bank (China)
#31 - Lu Jiajin Chairman China Industrial Bank (China)
#37 - David Solomon Chairman and Chief Executive Officer Goldman Sachs (USA)
#32 - Wang Liang President, CFO, and Executive Director China Merchants Bank (China)
#38 - Zhan Dongsheng Vice Chairman and President Agricultural Development Bank of China (China)
#33 - Carlo Messina Managing Director and Chief Executive Officer Intesa Sanpaolo (Italy)
#39 - Zheng Wanchun Vice Chairman and President China Minsheng Bank (China)
Frank Vang-Jensen, Group CEO of Nordea is at Number 48
#40 - James Gorman Chairman and CEO Morgan Stanley (USA) #41 - Bi Mingqiang Director and Chief Executive Officer China CITIC Bank Corp (China) #42 - Carlos Torres Vila Chairman BBVA (Spain) #43 - Thomas Gottstein Chief Executive Officer Credit Suisse Group (Switzerland) #44 - Brian J. Porter President and Chief Executive Officer Scotiabank (Canada)
Thomas Gottstein CEO of Credit Suisse is at Number 43
#45 - Matt Comyn Managing Director and Chief Executive Officer Commonwealth Bank of Australia (Australia) #46 - Wiebe Draijer Chairman of the Management Board Rabobank (Netherlands)
#53 - Fu Wanjun Executive Director and President China Everbright Bank (China)
#47 - Shayne Elliott Chief Executive Officer Australia & New Zealand Banking Group (Australia)
#54 - Uwe Fröhlich, Dr. Cornelius Riese Chief Executive Officers DZ Bank (Germany)
#48 - Frank Vang-Jensen President and Group Chief Executive Officer Nordea (Sweden)
#55 - Darryl White Chief Executive Officer BMO Financial Group (Canada)
#49 - Marjut Falkstedt Secretary General European Investment Bank (Luxembourg)
#56 - Toru Takakura President and Executive Officer Sumitomo Mitsui Trust Holdings (Japan)
#50 - Peter King Managing Director and Chief Executive Officer Westpac Group (Australia)
#57 - Carsten Egeriis Chief Executive Officer Danske Bank (Denmark)
#51 - Bill Winters Group Chief Executive Standard Chartered (U.K)
#58 - Stefan Wintels Chief Executive Officer KfW Group (Germany)
#52 - Ross McEwan Group CEO and Managing Director National Australia Bank (Australia)
#59 - Manfred Knof Chairman Commerzbank (Germany)
Ralph Hamers, Group CEO of UBS Group is at Number 35
#60 - Dinesh Kumar Khara Chairman State Bank of India (India)
#66 - Andrew Cecere Chairman, President and Chief Executive Officer U.S. Bancorp (USA)
#61 - Dario Scannapieco Chief Executive Officer Cassa Depositi e Prestiti (CDP) (Italy)
#67 - Gonzalo Gortázar Chief Executive Officer CaixaBank (Spain)
#62 - Wu Fulin Chairman and President The Export-Import Bank of China (Eximbank) (China)
#68 - Milton Maluhy Filho Chief Executive Officer Itau Unibanco Group (Brazil)
#63 - Victor G. Dodig President and Chief Executive Officer Canadian Imperial Bank of Commerce (Canada)
#69 - Masahiro Minami President and Representative Executive Officer Resona Holdings (Japan)
#64 - Xie Yonglin Chairman Ping An Bank (China)
#70 - Fausto de Andrade Ribeiro President and Chief Executive Officer Banco do Brasil SA (Brazil)
#65 - Robert Swaak Chief Executive Officer ABN AMRO (Netherlands)
#71 - Jong Kyoo Yoon Chairman and Chief Executive Officer KB Financial Group Inc. (South Korea)
Carsten Egeriis, CEO of Danske Bank is at Number 57
#72 - Cho Yong-byoung Chief Executive Officer Shinhan Financial Group (South Korea) #73 - Kentaro Okuda President and Group Chief Executive Officer Nomura Group (Japan) #74 - Piyush Gupta Chief Executive Officer DBS Group (Singapore) #75 - Daniella Marques Chief Executive Officer Caixa Economica Federal (Brazil) #76 - William S. Demchak Chairman, President and Chief Executive Officer The PNC Financial Services Group (USA) #77 - Min Ji Li Chairman Hua Xia Bank (China)
Carina Åkerström CEO, Svenska Handelsbanken is at Number 86
#78 - Thomas P. (Todd) Gibbons Chief Executive Officer BNY Mellon (USA) #79 - Hiroyuki Shibata President and Chief Executive Officer Shinkin Central Bank (Japan) #80 - Richard D. Fairbank Chairman and Chief Executive Officer Capital One Financial Corporation (USA) #81 - Octavio De Lazari Chief Executive Officer Banco Bradesco SA (Brazil) #82 - Johan Thijs Chief Executive Officer and President KBC Group (Belgium) #83 - Yang Shujian President Bank of Beijing (China) #84 - Helen Wong Group Chief Executive Officer Oversea-Chinese Banking Corp (OCBC) (Singapore)
Victor G. Dodig President and CEO of CIBC is at Number 63
Kattiya Indaravijaya, CEO of Kasikornbank is at Number 100
#85 - Ham Young-Joo Chief Executive Officer Hana Financial Group (South Korea)
#92 - Jens Henriksson President and CEO Swedbank (Sweden)
#86 - Carina Åkerström President and Group Chief Executive Officer Svenska Handelsbanken (Sweden)
#93 - César González-Bueno Mayer Chief Executive Officer Banco de Sabadell (Spain)
#87 - Byung-Hwan Son Chairman and Chief Executive Officer NongHyup Financial Group (South Korea)
#94 - Willibald Cernko Chief Executive Officer Erste Group Bank (Austria)
#88 - Won Duk Lee Chief Executive Officer Woori Bank (South Korea)
#95 - Shayne Nelson Group Chief Executive Officer Emirates NBD (UAE)
#89 - Kjerstin Braathen Group Chief Executive Officer DNB Group (Norway)
#96 - Sim Tshabalala Group Chief Executive Officer Standard Bank Group (South Africa)
#90 - Wang Kai President China Guangfa Bank (CGB) (China)
#97 - Hanan Friedman President and Chief Executive Officer Bank Leumi Group (Israel)
#91 - Abdulla Mubarak Al-Khalifa Group Chief Executive Officer QNB (Qatar)
#98 - Eduardo Ebensperger Orrego Chief Executive Officer Banco de Chile (Chile)
Jens Henriksson, President and CEO of Swedbank is at Number 92
#99 - Aurelio Alemán President and Chief Executive Officer FirstBank (Puerto Rico) #100 - Kattiya Indaravijaya Chief Executive Officer Kasikornbank Thailand
Johann Strobl Chief Executive Officer Raiffeisen Bank International (Austria) Hana Al Rostamani Group Chief Executive Officer First Abu Dhabi Bank (UAE) Valentin Stalf Chief Executive Officer N26 Bank (Germany)
Kjerstin Braathen CEO of DNB Group is at Number 89
Roberto Sallouti Chief Executive Officer BTG Pactual (Brazil) David Vélez Osorno Chairman and Chief Executive Officer Nubank (Brazil) Saeed M. Al Ghamdi Managing Director and Group CEO The Saudi National Bank (Saudi Arabia) Mohamed El Kettani Group Chief Executive Officer Attijariwafa Bank Group (Morocco) Nik Storonsky Chief Executive Officer Revolut (U.K) Alpaslan Çakar Chief Executive Officer Ziraat Bankası (Turkey) Vassilios E. Psaltis Group Chief Executive Officer Alpha Bank Group (Greece)
Johann Strobl CEO of Raiffeisen is in the Special Mentions
WORLD BANKING AWARDS 2022 THE BEST BANKS FOR CORPORATES AND HNWI
World Biz Magazine's global team of financial journalists are pleased to announce the winners of the 2022 WBM World Banking Awards.
every category to select the winners. All finalists and winners have come through an extremely competitive nomination phase and undergone a stringent process of independent examination. World Biz Magazine is enthused to recommend the following highlighted winners and finalists to our worldwide readership, our global network of media partners and to external audiences seeking the best corporate and high-networth personal banking services.
Now in its fourth year, WBM World Banking Awards highlights the best banks for corporations and their leaders. Services and performance from over 1,000 banks were carefully researched to select the shortlisted finalists for each of the 8 categories in every region of the world. Our team of analysts rigorously evaluated each of the four finalists for
Nominate for 2023 at worldbizmagazine.com
World's Best Bank for Corporate Banking Finalists: JPMorgan Chase, BNP Paribas, HSBC, Emirates NBD Bank Winner: JPMorgan Chase
World's Best Bank for ESG & CSR Finalists: JPMorgan Chase, Intesa Sanpaolo, Ping An of China, State Bank of India Winner: JPMorgan Chase
World's Best Bank for Investment Banking Finalists: China International Capital Corporation, Citigroup, Barclays, BBVA Winner: Citigroup
World's Best Bank for Digital Banking Finalists: Revolut, Nubank, DBS Bank, WeBank of China Winner: Nubank
World's Best Bank for Personal Banking Finalists: China Merchants Bank, First Abu Dhabi Bank, Itaú Unibanco, Shinhan Financial Winner: China Merchants Bank
World's Best Bank for Islamic Banking Finalists: Al Baraka Group, Saudi National Bank, Maybank, Dubai Islamic Bank Winner: Maybank
World's Best Bank for Private Banking Finalists: Goldman Sachs, UBS, China CITIC Bank, Investec Winner: UBS
World's Best Bank for SMEs Finalists: Royal Bank of Canada, BTG Pactual, Ecobank, Qatar National Bank Winner: BTG Pactual
Africa's Best Bank for Corporate Banking Finalists: Standard Bank, Absa Bank, Attijariwafa Bank, Access Bank Winner: Standard Bank
Africa's Best Bank for ESG and CSR Finalists: Absa Bank, Attijariwafa Bank, Access Bank, Ecobank Winner: Attijariwafa Bank
Africa's Best Bank for Investment Banking Finalists: Standard Bank, Absa Bank, First National Bank, Guaranty Trust Bank Winner: First National Bank
Africa's Best Bank for Digital Banking Finalists: United Bank for Africa, Zenith Bank, Absa Bank, Access Bank Winner: Access Bank
Africa's Best Bank for Personal Banking Finalists: Standard Bank, Absa Bank, Guaranty Trust Bank, United Bank for Africa Winner: Guaranty Trust Bank
Africa's Best Bank for Islamic Banking Finalists: EGBANK, The United Bank, Islamique du Senegal, Al Baraka Group Winner: Al Baraka Group
Africa's Best Bank for Private Banking Finalists: Standard Bank, Attijariwafa Bank, First National Bank, Investec Winner: Investec
Africa's Best Bank for SMEs Finalists: Absa Bank, Access Bank, Ecobank, Banco de Fomento Angola Winner: Ecobank
APAC's Best Bank for Corporate Banking Finalists: HSBC, National Australia Bank, Mizuho Bank, MUFG Bank Winner: HSBC
APAC's Best Bank for ESG and CSR Finalists: HSBC, Maybank, State Bank of India, National Australia Bank Winner: State Bank of India
APAC's Best Bank for Investment Banking Finalists: KB Securities, Sumitomo Mitsui Banking Corporation, MUFG Bank, Mizuho Bank Winner: Sumitomo Mitsui Banking Corporation
APAC's Best Bank for Digital Banking Finalists: DBS Bank, OCBC Bank, Jibun Bank, Kakao Bank Winner: DBS Bank
APAC's Best Bank for Personal Banking Finalists: Australia & New Zealand Bank, Hana Financial, Shinhan Financial, State Bank of India Winner: Shinhan Financial Group
APAC's Best Bank for Islamic Banking Finalists: Maybank, CIMB Bank, RHB Bank, Bank Rakyat Winner: Maybank
APAC's Best Bank for Private Banking Finalists: HSBC, DBS Bank, OCBC Bank, JP Morgan Chase Winner: JP Morgan Chase
APAC's Best Bank for SMEs Finalists: DBS Bank, CIMB Bank, Westpac Bank, Shinhan Financial Group Winner: CIMB Bank
China's Best Bank for Corporate Banking Finalists: Industrial and Commercial Bank of China, China Construction Bank, HSBC Bank, Bank of China Winner: China Construction Bank
China's Best Bank for ESG and CSR Finalists: Industrial and Commercial Bank of China, China Construction Bank, Ping An, Bank of China Winner: Ping An Bank
China's Best Bank for Investment Banking Finalists: CICC, Agricultural Bank of China, Huatai Securities, Industrial and Commercial Bank of China Winner: China International Capital Corporation
China's Best Bank for Digital Banking Finalists: WeBank, Industrial and Commercial Bank of China, MYBank, Suning Bank Winner: WeBank
China's Best Bank for Personal Banking Finalists: ICBC, China Construction Bank, China Merchants Bank, Ping An Bank Winner: China Merchants Bank
China's Best Bank for Islamic Banking Finalists: N/A N/A Winner: N/A
China's Best Bank for Private Banking Finalists: Agricultural Bank of China, HSBC Bank, Bank of Communications, China CITIC Bank Winner: China CITIC Bank
China's Best Bank for SMEs Finalists: Agricultural Bank of China, Postal Savings Bank, Bank of Communications, China CITIC Bank Winner: Postal Savings Bank Of China
Europe's Best Bank for Corporate Banking Finalists: BNP Paribas, Barclays, Crédit Agricole, HSBC Winner: BNP Paribas
Europe's Best Bank for ESG and CSR Finalists: BNP Paribas, Banco Santander, Intesa Sanpaolo, ING Groep Winner: Intesa Sanpaolo
Europe's Best Bank for Investment Banking Finalists: Crédit Agricole, BNP Paribas, Barclays, Banco Santander Winner: Barclays
Europe's Best Bank for Digital Banking Finalists: Revolut Bank, Bunq Bank, N26 Bank, Monzo Bank Winner: Revolut Bank
Europe's Best Bank for Personal Banking Finalists: Banco Santander, Société Générale, Lloyds Banking Group, Groupe BPCE Winner: Banco Santander
Europe's Best Bank for Islamic Banking Finalists: N/A N/A Winner: N/A
Europe's Best Bank for Private Banking Finalists: Deutsche Bank, UBS, Credit Barclays Winner: UBS
Europe's Best Bank for SMEs Finalists: UniCredit, ING Groep, Crédit Mutuel, CaixaBank Winner: ING Groep
LATAM's Best Bank for Corporate Banking Finalists: Banco Bradesco, Banco Santander, BBVA, Banco Santander Winner: Banco Bradesco
LATAM's Best Bank for ESG & CSR Finalists: FirstBank, Jamaica National Commercial Bank, Itaú Unibanco, National Bank Belize Winner: FirstBank
LATAM's Best Bank for Investment Banking Finalists: BBVA Bank, BofA Securities, Citi, Banco Bradesco Winner: BBVA
LATAM's Best Bank for Digital Banking Finalists: BTG Pactual Bank, Nubank, Ualá Bank, Klar Bank Winner: Nubank
LATAM's Best Bank for Personal Banking Finalists: Itaú Unibanco, BBVA, Banco de Chile, Banco de Bogotá Winner: Itaú Unibanco
LATAM's Best Bank for Islamic Banking Finalists: N/A N/A Winner: N/A
LATAM's Best Bank for Private Banking Finalists: Banco Bradesco, Banco Santander, Banco de Crédito e Inversiones, FirstBank Winner: Banco Bradesco
LATAM's Best Bank for SMEs Finalists: Banco de Crédito e Inversiones, FirstBank, BTG Pactual, Banco Popular Dominicano Winner: BTG Pactual
Middle East's Best Bank for Corporate Banking Finalists: QNB, First Abu Dhabi Bank, Emirates NBD Bank, HSBC Bank Winner: Emirates NBD Bank
Middle East's Best Bank for ESG and CSR Finalists: Abu Dhabi Islamic Bank, Banque Saudi Fransi Bank, Ahli United Bank, QNB Winner: Ahli United Bank
Middle East's Best Bank for Investment Banking Finalists: First Abu Dhabi Bank, Emirates NBD Bank, Abu Dhabi Commercial Bank, HSBC Bank Winner: First Abu Dhabi Bank
Middle East's Best Bank for Digital Banking Finalists: Al Rajhi Bank, Riyad Bank, The Saudi National Bank, Mashreq Bank Winner: Mashreq Bank
Middle East's Best Bank for Personal Banking Finalists: First Abu Dhabi Bank, Emirates NBD Bank, National Bank of Kuwait, Riyad Bank Winner: First Abu Dhabi Bank
Middle East's Best Bank for Islamic Banking Finalists: Saudi National Bank, Al Rajhi Bank, Dubai Islamic Bank, Kuwait Finance House Winner: Saudi National Bank
Middle East's Best Bank for Private Banking Finalists: QNB, Emirates NBD Bank, National Bank of Kuwait, UBS Winner: UBS
Middle East's Best Bank for SMEs Finalists: Riyad Bank, Abu Dhabi Commercial Bank, Ahli United Bank, QNB Winner: QNB
USA & Canada's Best Bank for Corporate Banking Finalists: JPMorgan Chase, Royal Bank of Canada, Citigroup, Bank of America Winner: JPMorgan Chase
USA & Canada's Best Bank for ESG and CSR Finalists: JPMorgan Chase, Citigroup, Royal Bank of Canada, Wells Fargo Winner: JPMorgan Chase
USA/ Canada's Best Bank for Investment Banking Finalists: JPMorgan Chase, Citigroup, Goldman Sachs, Morgan Stanley Winner: Citigroup
USA & Canada's Best Bank for Digital Banking Finalists: Wells Fargo, Bank of America, TD Bank, BMO Bank Winner: TD Bank
USA & Canada's Best Bank for Personal Banking Finalists: Wells Fargo, Bank of America, Scotiabank, TD Bank Winner: Bank of America
USA & Canada's Best Bank for Islamic Banking Finalists: N/A N/A Winner: N/A
USA & Canada's Best Bank for Private Banking Finalists: JPMorgan Chase, Citigroup, Royal Bank of Canada, Goldman Sachs Winner: Goldman Sachs
USA & Canada's Best Bank for SMEs Finalists: Wells Fargo, Bank of America, Royal Bank of Canada, TD Bank Winner: Royal Bank of Canada
5 BUSINESS SOLUTIONS WHERE AI IS AN IDEAL CHOICE - MOON TECHNOLABS AI technology can be applied in various use cases across enterprises including healthcare, sales, HR, activities, manufacturing, marketing and technology. Artificial intelligence is a term that summons pictures of science fiction thrill rides for the typical client. While the themes might not have completely
dispersed from dystopian cinema, AI is most generally utilized in the business world. Brands that we see with routineness are participating in AI investments to assist them with turning out to be more proficient and productive businesses. Companies, such as for example, Google, IBM, Salesforce, Facebook, and numerous
others are executing AI in regular activities and a lot more are seeing the tremendous potential presented by machine learning and AI technology. Artificial Intelligence and Business today: SEM Rush reports that AI is capable of achieving huge business value and upgrading labourer capacities. "In 2022, the expansion in AI utilization across businesses achieved $2.9 trillion of business value and 6.2 billion hours of specialist efficiency." From prescient examination and profound learning to chatbots and picture acknowledgement, AI and machine learning are changing the way that businesses can engage with clients and deliver quicker than expected results. AI technology can be applied in various use cases across enterprises, including healthcare, sales, HR, manufacturing, marketing, and the most obvious, technology. Regularly talked about use cases for AI incorporation include self-driving cars and other independent technologies, internet of things (IoT), clinical fact finding, automated assistance in manufacturing, contactless shopping, position upand-comer choice, and many more. The business opportunities are limitless. However, to incorporate AI and machine learning technology into business, we should have a labour force that is prepared to deal with this transformative technology.
5 Examples of Artificial Intelligence in Business for Different Segments Brands that are at the bleeding edge of their industries are now involving artificial intelligence in business. The accompanying examples depict how they approached making it happen and in which regions they demonstrated the most effectiveness. (1) AI in B2B and Customer Experience FedEx and Sprint's Predictive Analytics Prescient investigation data can be utilized for the improvement of customer maintenance. FedEx and Sprint are utilizing this data to identify customers who might leave them for contenders, and they claim they can do it with 60%-90% exactness. Other than leaving for contenders, the conveyance companies can distinguish, ahead of time, customers that are bound to drop their conveyance - and this is done with multiple times more accuracy!
From prescient examination and profound learning to chatbots and picture acknowledgement, AI and machine learning are changing the way that businesses can engage with clients and deliver quicker than expected results. AI technology can be applied in various use cases across enterprises.
The prescient investigation data pinpoints the elements inciting certain gatherings to scatter. Companies with this high ground can then enhance their information and campaigns coordinated at those customers, stopping them from leaving. (2) Artificial Intelligence in B2C and Marketing Coca-Cola's Big Data-Driven Success The world's biggest refreshment brand, Coca-Cola, collects colossal amounts of data through the offer of billions of beverages globally. What's more, they put that data to incredibly great use; to illuminate business choices on an essential level! It was back in 2012 when Coca-Cola reported the utilization of Big Data in their business that their Chief Information Officer, Esat Sezer, said that "big data provides the intelligence to cover social media, mobile applications, distributed computing and eCommerce - giving companies like Coca-Cola a toolset on how to best approach IT and business. This was supported by the later articulation by Coca -Cola's worldwide head of digital development, Greg Chambers, who admitted "AI is the foundation for all that we do", enabling "more insightful encounters with our customers."
A valid example: is the send-off of Cherry Sprite! The choice to push this new flavour depended on data gathered from a network of self-service fountains, the new age of soda machines that permit customers to make their beverages by blending flavours. (3) AI in eCommerce and Retail Target's and Asos' Visual Search Visual hunt is a big piece of eCommerce specifically. Google Images and Pinterest promoted it and made it mainstream, however, online shops are turning it into a major source of income. In a sign of the coming future, Pinterest and Target partnered in 2017 for the creation of Pinterest Lens, which is a visual hunt device utilized to improve customer experience. This empowered Target's customers to snap a picture of any piece of clothing with their app and track down something identical at Target. Asos took this idea a bit further, with their Asos' Style Match. The standard behind it is equivalent to Target's - snapping a picture of an item or even a fragment and searching Asos' index for something similar - with one key added feature: it additionally included automated "visual social tuning in". Visual social listening lets advertisers and eCommerce businesses identify visual trends and utilize brand visuals and products by figuring out how customers associate with them (their name or logo) when not alluded to by the name. The world's biggest activewear maker, Nike, is utilizing AI-driven Big Data, expanded reality in apps, and expectation calculations to furnish their customers with cuttingedge customer-driven service. Their leader stores in New York and Tokyo are allowing customers to design their shoes down to the last detail - and wear them surprisingly fast! Their other outstanding products, for example, Nike Fit and Nike Plus use AI to achieve significantly more customized customer encounters. Previous allows shoppers to examine their feet to get the most exact estimation while picking the size of their shoe, while the last option offers more benefits to loyal customers who get to encounter new shoes before they're delivered.
(4) AI in Social Media Persado's Emotionally Targeted Marketing Persado is a product by its namesake maker company whose main goal is helping eCommerce increment its transformation rates through resounding social media duplicates. Artificial intelligence aids social media marketing strategy, which can be profoundly modified - to such an extent that it addresses a client on multiple levels. Persado's most noteworthy benefit - and certainly, its AI's biggest achievement - is sending coordinated campaigns on social media that depend on 'authentic close-to-home commitment'! PersadoOne opens the force of words (the snappy maxim behind this product) and, with its genuinely charged Facebook newsfeed promotions, it avoids the customer sections and connects with the individual - the first at this scale to (have the option to) do so. The technology behind this practically uncanny capacity is, you got it - AI. Clients close to home are not set in stone through machine responses to past campaigns. Persado's language separates 15 feelings and 3 degrees of force - in 23 different worldwide dialects. (5) Philanthropies and Ethical AI Google AI for Social Good Using artificial intelligence in business for social objectives is a rising trend. A new report stated that 89% of philanthropic experts say that implementing AI can further develop proficiency inside their organizations. Google was quick to jump aboard with this big cultural change, driven by AI. They have requested that endeavours and organizations share their thoughts on the most proficient methods to do this and they got applications from 119 nations. Google picked 20 organizations that it will support, all with various good causes. In this manner, Google AI was conceived - which, because of exploration, engineering, and different drives, assembled the "AI ecosystem to address cultural challenges". A portion of the inquiries the group posed to themselves was 'Might AI at some point foresee natural disasters before they even
Using artificial intelligence in business for the social objectives is a rising trend. A new report stated that 89% of philanthropic experts say that implementing AI can further develop proficiency inside their organization
happen? Might it at any point follow sicknesses as they spread? Might AI at any point protect jeopardized species?'
About Moon Technolabs: Moon Technolabs was founded in 2009 as a way to streamline the gap in mobile app development and has worked its way to become the top mobile app development company in the USA. The IT firm provides on-demand solutions, web development, eCommerce development, Blockchain, and IoT solutions and has tremendous experience in delivering client-centric solutions across the globe. If any ideas are hovering around and you would like to get a free quote, you can contact us and we will be happy to discuss and come up with a fruitful solution. In additoon to the above services, Moon Technolabs offers many types of assistance like AR/VR development, on-request solutions, eCommerce development solutions, and so on. Moon Technolabs is a KCCI and GESIA award-winning company that has developed 700+ mobile apps and successfully delivered 1200+ projects in the USA, Canada, UK, Australia, New Zealand, Europe, Middle East and many others with help of 200+ techies to serve more than 600+ global clients. For more information, visit: moontechnolabs.com
WELCOMING AMAN NEW YORK AMAN'S NEWEST ICON IS UNVEILED Heralding a new era for hospitality in one of the world’s greatest cities, Aman’s newest island destination is now in its exclusive preview period.
Aman New York celebrates Aman's philosophy of creating sanctuaries beyond commonplace notions of luxury, whilst paying homage to the building's striking architecture and significant history.
Since 1921, the Crown Building has presided over the midpoint of Manhattan; the corner of 57th Street and Fifth Avenue. Formerly the first home of the Museum of Modern Art, the 100-year-old building has undergone a monumental transformation, which has seen it fully restored to its original splendour and imbued with the inimitable spirit of Aman.
n invitation to switch off from the outside world, A the hotel’s 83 suites are among New York’s largest. Each suite also offers a functioning fireplace (a rarity in Manhattan), while Japanese-inspired interiors bring balance and harmony. In a further nod to the brand’s roots, each suite also features a large-scale art mural inspired by the 15th-
century masterpiece Pine Trees (Shōrin-zu byōbu) by Hasegawa Tōhaku. One of Japan’s most celebrated works, Pine Trees, owned by the Tokyo National Museum, was designated as a National Treasure in 1952 and is internationally acclaimed. The piece perfectly captures its eminent pre-Edo influence, and is a homage to Tōhaku, printed on delicate rice paper and spanning the walls as a captivating focal point. WELLNESS Three floors dedicated to holistic wellbeing. Bringing to life the fullest expression of the Aman Wellness concept yet, Aman New York’s Spa is the brand’s new flagship integrative wellness destination in the western hemisphere. Spanning three storeys (2,300 square metres), its dramatic indoor swimming pool surrounded by fire pits and daybeds serves as a centrepiece, while two Spa Houses provide guests with an unparalleled and all-encompassing spa journey. DINING A world of refined tastes. From the Jazz Club to the year-round Garden Terrace, Aman New York abounds with sociable spaces for dining, drinking and relaxing, guided by the pulse of the city. Arva, the convivial Italian restaurant, is complemented by Nama – Aman’s interpretation of Japan’s washoku dining tradition which includes an omakase counter for Japanese fine dining. RESIDENCES Aman's first urban residences. While the hotel follows in the trailblazing footsteps of Aman Tokyo, the brand’s first urban property which launched in 2014, it also represents the start of a new chapter for Aman, welcoming the very first urban branded residences. A collection of 22 incomparable private homes, including a five-storey penthouse, the fully serviced residences offer an unrivalled address and a complete immersion in the Aman lifestyle, in harmony with the unceasing heartbeat of their surroundings. Getting here Resting on the corner of 57th Street and Fifth Avenue, Aman New York is located a 45-60 minute drive from John F. Kennedy International Airport (JFK) and Newark Liberty International Airport (EWR),
handling both international and domestic flights. LaGuardia Airport (LGA) is a 30-40 minute drive from the hotel, whilst Westchester County Airport (HPN) is located 60-75 minutes from the hotel by car, with both handling domestic flights. For private jet arrivals, Teterboro Airport (TEB) is a 45-60-minute journey by car. The Aman Story Meticulously designed to frame their natural settings, Aman destinations are renowned for space and privacy. Each welcomes guests as if to the home of a close friend, instilling a sense of peace and belonging amid some of the most diverse natural and historical landscapes. It is an approach that has changed little since 1988 when the first retreat was built on Phuket’s west coast. It was named Amanpuri, meaning ‘place of peace’, and Aman was born. Today, Aman embraces 34 resorts, hotels, and private residences in 20 countries. Aman continues to seek out transformative experiences and aweinspiring locations around the world with a further nine projects in the pipeline. Discover more about Aman at aman.com
WORLD BIZ AWARDS TOP 100 INNOVATION LEADERS OF 2022
(PICTURED ABOVE) MICHAEL WU, CO-FOUNDER AND CEO OF AMBER GROUP, NUMBER 15 ON THE LIST
Dr. Severin Schwan, CEO of Roche Group is at Number 1
Dr. C. C. Wei, CEO of TSMC is at Number 3
AWARD WINNERS TOP 100 INNOVATION LEADERS OF 2022
THE WORLD'S TOP 100 INNOVATION LEADERS OF 2022 Now in the fifth year, the annual World Biz Magazine Leadership Awards celebrates business leaders across the globe that are making major strides in their industries. The WBM Top 100 Innovation Leaders Awards recognizes product, service, functional, strategic, and managerial innovation in companies. The Awards also recognizes individuals showing exceptional commercial insight and market integrity. Sustainability forms a key cornerstone of the Awards and is an integral part of our selection criteria.
This year there were over 40,000 leaders shortlisted for the Awards. There are only 100 CEOs across the world selected to receive this distinction. Winners were selected regardless of the size of company they lead, the most important determining factor being their role in driving innovation within their industry. Only 0.25% of the shortlisted leaders have been selected by our researchers and independent judges for this recognition. We are honored to share this showcase of our deserving Award Winners with you.
Ellen J. Kullman, Executive Chair of Carbon is at Number 4
Diane Wang, Founder, Chairperson and CEO of DHgate is at Number 9
#1 DR. SEVERIN SCHWAN CEO - ROCHE GROUP Dr. Severin Schwan has been the Chief Executive Officer of Roche Group since 2008. He earned his degree in Economics at the University of Innsbruck, University of York and University of Oxford, Mag. rer.soc.oec. (Innsbruck, 1991). He also studied Law at the University of Innsbruck, Mag. iur. (Innsbruck, 1991). He earned his Doctorate in Law at the University of Innsbruck, Research studies at University Louvain, Belgium, Dr. iur. (Innsbruck, 1993). Dr. Schwan is a member of the Board of Directors of Roche Holding Ltd. He is also a member of the Board of Directors (since 2017 Vice Chairman) of Credit Suisse Group AG.
He is a member of the International Business Leaders Advisory Council for the Mayor of Shanghai (IBLAC), since 2022 he has been the Vice Chairman. Throughout its 125-year history, Roche has grown into one of the world’s largest biotech companies, as well as a leading provider of in-vitro diagnostics and a global supplier of transformative innovative solutions across major disease areas. Its commitment to its people, partners, stakeholders and, most importantly, its patients remains as strong as it was on the first day of the company's journey. For more information, visit: roche.com
#2 DR. LISA T. SU CHAIR AND CEO - AMD Dr. Lisa T. Su is chair and chief executive officer of AMD. Prior to serving as president and CEO, she was chief operating officer responsible for integrating AMD’s business units, sales, global operations and infrastructure enablement teams into a single market-facing organization responsible for all aspects of product strategy and execution. Dr. Su joined AMD in January 2012 as senior vice president and general manager, global business units and was responsible for driving end-to-end business execution of AMD products and solutions. Prior to joining AMD, Dr. Su served as senior vice president and general manager, Networking and Multimedia at Freescale Semiconductor, and was
responsible for global strategy, marketing and engineering for the company’s embedded communications and applications processor business. Dr. Su joined Freescale in 2007 as chief technology officer, where she led the company’s technology roadmap and research and development efforts. Dr. Su spent the previous 13 years at IBM in various engineering and business leadership positions, Dr. Su has bachelor’s, master’s and doctorate degrees in electrical engineering from the Massachusetts Institute of Technology (MIT). For more information, visit: amd.com
#3 DR. C. C. WEI CEO - TSMC Dr. C. C. Wei is Chief Executive Officer of Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC). Prior to this appointment, Dr. Wei was TSMC's President and Co-CEO from November 2013 to June 2018 and Co-Chief Operating Officer from March 2012 to November 2013. From 2009 to 2012, he was TSMC's Senior Vice President of Business Development. Before that, Dr. Wei was Senior Vice President of Mainstream Technology Business. Before joining TSMC in 1998, Dr. Wei had served as Senior Vice President of Technology at Chartered Semiconductor and Senior Manager, Logic and SRAM technology development at ST Microelectronics. Prior to that, he was a Member of
Technical Staff at Texas Instruments' R&D team. C. C. Wei received his B.S. degree in electrical engineering from National Chiao Tung University and Ph.D. from Yale University. Established in 1987 and headquartered in Hsinchu Science Park, Taiwan, TSMC pioneered the pure-play foundry business model with an exclusive focus on manufacturing customers’ products. TSMC-made semiconductors serve a global customer base that is large and diverse and includes a wide range of applications. For more information, visit: tsmc.com
#4 ELLEN J. KULLMAN EXECUTIVE CHAIR - CARBON Ellen is the Executive Chair of Carbon, previously serving as President & CEO. Prior to joining Carbon, Ellen was Chairman and CEO of DuPont. She was the nineteenth executive, and the first woman to lead the company in its 212-year history. Ellen led double-digit growth of the company’s Safety and Protection business portfolio, started two successful high-growth businesses known today as DuPont Industrial Biosciences and DuPont Sustainable Solutions. During her seven years as CEO, Ellen led the company’s focus on growth in emerging international markets and championed the power of DuPont science and global market knowledge to transform industries.
Ellen is co-chair of the Paradigm for Parity coalition and a board director of Dell Technologies, Amgen, and Goldman Sachs. She is a member of the National Academy of Engineering and past president of the U.S. China Business Council. She serves on the board of trustees of Northwestern University. Ellen has been named as one of the “50 Most Powerful Women in Business” by Fortune and one of the “World’s Most Powerful Women” by Forbes. Ellen holds a B.S. in mechanical engineering from Tufts University and an MBA from the Kellogg School of Management of Northwestern University. For more information, visit: carbon3d.com
#5 GAIL K. BOUDREAUX PRESIDENT, CEO - ELEVANCE HEALTH Gail Boudreaux serves as president and chief executive officer at Elevance Health, where she leads the company in improving lives and communities, simplifying healthcare, and building trust with customers. Regarded for her ability to skillfully scale multibillion-dollar businesses, Boudreaux leverages her more than three decades of healthcare industry experience to helm one of America’s largest health companies. Fueled by our bold purpose to improve the health of humanity, Elevance Health is transforming from a traditional health benefits organization into a life-
time trusted health partner. Elevance Health brings together the concepts of elevate and advance, exemplified by our bold purpose of improving the health of humanity. We are a health company dedicated to making real progress toward improving the health of the people and communities we serve. Our nearly 100,000 associates serve more than 118 million people, at every stage of health. We address a full range of needs with an integrated whole health approach, powered by industry-leading capabilities and a digital platform for health. For more information, visit: elevancehealth.com
#6 LEE YUAN SIONG GROUP CEO, PRESIDENT - AIA GROUP Mr. Lee is an Executive Director and the Group Chief Executive and President of the Company, having been appointed on 1 June 2020. Mr. Lee is also a member of the Risk Committee of the Company. He joined the Group in March 2020 and has more than 30 years' experience in the insurance sector. He is a director of various companies within the Group including acting as Chairman and Chief Executive Officer of AIA Company Limited. Prior to his current role, Mr. Lee was an executive director of Ping An Insurance (Group) Company of China, Ltd. from June 2013 and served as the company’s co-CEO and Chief Insurance Business Officer. Before joining Ping An, Mr. Lee held several
senior leadership positions with Prudential plc of the United Kingdom, including President of CITICPrudential Life Insurance Company Limited, a life insurance joint venture in Mainland China. Mr. Lee began his career at the Monetary Authority of Singapore. He has been a Director and appointed as Vice Chairman of The Geneva Association since November 2021. He has also been a member of the Hong Kong Academy of Finance since 2020. He holds a Master of Philosophy (Finance) degree from the University of Cambridge and is a Fellow of the Society of Actuaries (US). For more information, visit: aia.com
#7 ROSALIND BREWER CEO - WALGREENS BOOTS ALLIANCE Rosalind (Roz) Brewer joined Walgreens Boots Alliance as Chief Executive Officer in March 2021. She also is a Director on WBA’s Board.
hygiene products company, from 2004 to 2006, and held various management positions at KimberlyClark beginning in 1984.
Ms. Brewer most recently served as Chief Operating Officer and Group President at Starbucks from October 2017 to January 2021. Prior to Starbucks, she served as President and Chief Executive Officer of Sam’s Club, a membership-only retail warehouse club and division of Walmart, Inc., from February 2012 to February 2017. Ms. Brewer previously held several executive leadership positions with Walmart beginning in 2006. Prior to joining Walmart, she served as President of Global Nonwovens Division for Kimberly-Clark Corporation, a global health and
She currently serves as the Chairperson of the Board of Trustees for Spelman College, where she did her undergraduate work. Ms. Brewer also is a Board Member of VillageMD, World Business Chicago, Business Roundtable and the Smithsonian’s National Museum of African-American History and Culture. Ms. Brewer formerly served on the Board of Directors for Starbucks, Amazon, Lockheed Martin Corporation and Molson Coors Brewing Company. For more info, visit: walgreensbootsalliance.com
#8 SANJIV LAMBA CEO - LINDE Sanjiv Lamba is the Chief Executive Officer for Linde plc, in March 2022 he also joined the Board of Directors. Prior to being appointed CEO, Lamba was Chief Operating Officer after serving as Executive Vice President, APAC. Lamba started his career in 1989 with BOC India in Finance, was appointed Director of Finance and subsequently Managing Director for the India business in 2001. He has worked in a number of geographies for Linde including India, UK, Singapore and Germany where he served as member of the Executive Board of Linde AG.
Lamba is a Chartered Accountant (Institute of Chartered Accountants of India) and holds a Bachelor of Commerce Degree (Honours) from St. Xavier’s College, Calcutta University, India. Linde is a leading global industrial gases and engineering company with 2021 sales of $31 billion (€26 billion). We live our mission of making our world more productive every day by providing highquality solutions, technologies and services which are making our customers more successful and helping to sustain and protect our planet. The company serves a variety of end markets. For more information, visit: linde.com
Sasan Goodarzi, CEO of Intuit is at Number 11
Ki Young Sohn, Chairman and CEO of Enzychem Lifesciences is at Number 16
#9 DIANE WANG FOUNDER, CHAIRPERSON, CEO - DHGATE Diane Wang, an original internet pioneer with over 20 years of experience running online businesses, has thrived through every phase of the digital revolution. Before founding DHgate, Ms. Wang cofounded and served as CEO of Joyo.com, which at the time was the largest B2C (Business-toConsumer) online marketplace in China and eventually became Amazon China. Prior to Joyo.com, she held positions as an executive for Microsoft and Cisco. Ms. Wang is also an active civil servant, she was appointed to serve on the APEC Business Advisory Council (ABAC) in recognition of her expertise and status as a leading advocate for the development of
SMEs (Small-Medium-Enterprises) worldwide. Ms. Wang is the co-chair of the ABAC SME Working Group and Co-Chair of the APEC Women Leadership Forum. Ms. Wang is the first Rotating Chairperson of the Entrepreneurs Committee of the China SME Alliance. Ms. Wang also serves as the Chinese Representative to the G20 Business Summit (B20). DHgate.com is the world's leading online wholesale platform for goods made in China, connecting international buyers with Chinese wholesale sellers who offer the same quality products found elsewhere at a fraction of the price. For more information, visit: dhgate.com
#10 CHARLES BROWN PRESIDENT AND CEO - LIFELABS Charles Brown is President and CEO of LifeLabs Medical Laboratory, a leading Canadian-owned company that has been serving the healthcare needs of Canadians for more than 50 years. Each year LifeLabs performs approximately 120 million laboratory tests to help diagnose, treat, monitor and prevent diseases for millions of Canadians. Charles is committed to the optimization of service delivery to provide better outcomes for customers, patients, medical professionals and the broader healthcare system. Since joining LifeLabs in 2018, he has worked to evolve LifeLabs into a commercially
driven organization that brings customer-centred value to market. By showcasing the possibility of delivering value-based outcomes, Charles empowers his employees to make a difference and facilitate innovative change. Charles was named a Top 25 Biotechnology CEO by the Healthcare Technology Report in 2021 and 2022. Charles was also nominated in 2022 by an external research team to receive the prestigious ‘Top Industry Leader’ award from Life Sciences Voice, being recognized amongst distinguished leaders from BioPharma, BioTech, and related sectors. For more information, visit: lifelabs.com
#11 SASAN GOODARZI CEO - INTUIT Sasan Goodarzi is chief executive officer (CEO) of Intuit, where he leads the company towards delivering on its mission of powering prosperity around the world. During his 14 years with the company, Goodarzi has successfully led each of Intuit’s largest businesses. Most recently, Goodarzi served as executive vice president and general manager of Intuit’s Small Business and Self-Employed Group. Previously, he served as executive vice president and general manager of Intuit’s Consumer Tax Group, as Intuit’s chief information officer, as the general manager of Intuit’s ProTax organization, and as the general manager of Intuit’s Financial Services Division.
Prior, Goodarzi worked for Invensys, a global provider of industrial automation, transportation and controls technology, serving as global president of the products group. He also held senior leadership roles in the automation control division at Honeywell and served as the CEO and co-founder of a technology startup, Lazer Cables Inc. He earned his bachelor’s degree in electrical engineering at the University of Central Florida and a master’s in business administration from the Kellogg School of Management at Northwestern University. For more information, visit: intuit.com
#12 NOEL QUINN GROUP CHIEF EXECUTIVE - HSBC BANK Noel Quinn was appointed Group Chief Executive in March 2020, having previously served as interim Group Chief Executive from August 2019. Mr Quinn has been with HSBC – or its constituent companies – since 1987, when he joined Forward Trust Group, a subsidiary of Midland Bank (now HSBC UK). He led HSBC’s acquisitions of Swan National Motor Finance and Eversholt Leasing Ltd, becoming General Manager of each business in turn. He subsequently served as Head of Specialised and Equity Finance at HSBC; Group Director of Strategy & Development at HSBC Insurance Services North America; Head of Commercial Finance Europe; and Head of Commercial Banking UK. From 2011 to
2015 he was the Regional Head of Commercial Banking for Asia-Pacific, based in Hong Kong. Mr Quinn was appointed Chief Executive, Global Commercial Banking in December 2015. He became a Group Managing Director in September 2016. Mr Quinn qualified as an accountant in 1987. Founded in 1865, HSBC is one of the world’s largest banking and financial services organisations. Our purpose – Opening up a world of opportunity. We’re here to use our unique expertise, capabilities, breadth and perspectives to open up new kinds of opportunity for our customers. For more information about HSBC, visit: hsbc.com
#13 PATRICK GELSINGER CEO - INTEL CORPORATION Patrick (Pat) Gelsinger is chief executive officer Intel Corporation and serves on its board directors. On Feb. 15, 2021, Gelsinger returned Intel, the company where he had spent the first years of his career.
of of to 30
Before rejoining Intel, Gelsinger was CEO of VMware. In that role, he transformed VMware into a recognized global leader in cloud infrastructure, enterprise mobility and cyber security – almost tripling the company’s annual revenues. Gelsinger was also ranked the best CEO in America in 2019, according to an annual survey by Glassdoor. Prior to joining VMware in 2012, Gelsinger was president and chief operating officer of EMC’s Information
Infrastructure Products business, overseeing engineering and operations for information storage, data computing, backup and recovery, RSA security and enterprise solutions. Gelsinger earned several degrees in electrical engineering: an associate degree from Lincoln Technical Institute, a bachelor’s degree from Santa Clara University and a master’s degree from Stanford University. He holds eight patents in the areas of VLSI design, computer architecture and communications, is an IEEE Fellow, and serves on the National Security Telecoms Advisory Committee. For more information, visit: intel.com
#14 JENSEN HUANG FOUNDER, PRESIDENT AND CEO - NVIDIA Jensen Huang founded NVIDIA in 1993 and has served since its inception as president, chief executive officer and a member of the board. Starting out in PC graphics, NVIDIA helped build the gaming market into the largest entertainment industry in the world today. The company’s invention of the GPU in 1999 made possible realtime programmable shading, which defines modern computer graphics, and later revolutionized parallel computing. More recently, GPU deep learning ignited modern AI — the next era of computing — with the GPU acting as the brain of computers, robots and self-driving cars that can perceive and understand the world.
Huang is a recipient of the Semiconductor Industry Association’s highest honor, the Robert N. Noyce Award; IEEE Founder’s Medal; the Dr. Morris Chang Exemplary Leadership Award; and honorary doctorate degrees from Taiwan’s National Chiao Tung University, National Taiwan University, and Oregon State University. He was included in TIME magazine’s 2021 list of the world’s 100 most influential people. In 2019, Harvard Business Review ranked him No. 1 on its list of the world’s 100 bestperforming CEOs over the lifetime of their tenure. In 2017, he was named Fortune’s Businessperson of the Year. For more information, visit: nvidia.com
#15 MICHAEL WU CO-FOUNDER AND CEO - AMBER GROUP Michael Wu is co-founder and CEO of Amber Group, a leading global digital asset company. Prior to founding Amber Group, Michael was a quantitative analyst at Goldman Sachs, a macro trader at Morgan Stanley, and a portfolio manager at a billion-dollar hedge fund. Michael is a member of Mensa International and a 2019 Forbes 30 Under 30 Asia honoree. Founded in 2017, Amber Group is a leading global digital asset company operating globally with offices in Asia, Europe, and the Americas. Amber Group provides a full range of digital asset services spanning investing, financing, trading, and spending.
Its 24/7 trading desk serves over a thousand institutional clients globally while the integrated digital asset platform WhaleFin serves the individual investors via mobile and desktop applications. To date, Amber Group has raised a total of $328 million in funding from world-class investors including Temasek, Sequoia Capital, Paradigm, Tiger Global Management, Dragonfly Capital, Pantera Capital, Coinbase Ventures and Blockchain.com. Amber Group’s Series B + funding round of $200m valued the company at $3B.
For more information, visit: ambergroup.io
#16 KI YOUNG SOHN CHAIRMAN AND CEO - ENZYCHEM Ki Young Sohn is Chairman and CEO of Enzychem Lifesciences, a late-stage biotechnology company. With more than 30 years of experience in the life sciences and finance industry, Ki Young has previously led teams in various pharmaceutical settings to success. Most recently, he has led positive Phase 2 US results for Enzychem Lifesciences' lead candidate, EC-18 in Chemoradiation-induced Oral Mucositis (CRIOM) and execution of the partnership with Zydus Cadila to manufacture and distribute the world’s first COVID-19 pDNA vaccine. He earned his BA and MBA in Administration from Korea University.
Founded in 1999, Enzychem Lifesciences is developing novel small molecule therapeutics to target fundamental pathways in inflammation, for patients with unmet needs. Based on more than two decades of research, Enzychem developed its leading candidate EC-18, an oral small molecule derived from Sika deer antler, which has shown to be active across a number of different indications. Our pipeline candidates have the potential to be first-in-class therapies for use in combination or as monotherapy, in major areas of unmet medical need. For more information, visit: enzychem.com
#17 JANE FRASER CEO - CITI Jane Fraser is the Chief Executive Officer of Citi, the world's most global bank, serving millions of consumers, businesses and institutions across 160 countries and jurisdictions. She is the first female CEO in the firm’s history. Jane has deep experience across Citi’s consumer and institutional businesses and, in many ways, she helped shape Citi into the company it is today. Before becoming CEO in February 2021, she was President of Citi and CEO of the Global Consumer Bank, responsible for all of Citi’s Consumer businesses, including Retail Banking and Wealth Management, Credit Cards, Mortgage and Operations and Technology in 19 markets.
Before that, she was the CEO of Citigroup Latin America from 2015 to 2019. From 2013 to 2015, she was the CEO of the U.S. Consumer and Commercial Banking and CitiMortgage. From 2009 to 2013, Jane served as the CEO of Citi's Global Private Bank. Prior, Jane was the Global Head of Strategy and Mergers & Acquisitions for Citi from 2007 to 2009. She joined Citi in 2004 in the Corporate and Investment Banking division. Jane has an M.B.A. from Harvard Business School and an M.A. in economics from Cambridge University. She is married with two children. For more information, visit: citigroup.com
#18 HAMUTAL YITZHAK CHAIR AND CEO - ELSE NUTRITION Hamutal Yitzhak is a successful serial entrepreneur and inventor, with a series of global patents and innovations to her name, coupled with a portfolio of novel innovative foods that are nutritious, nourishing and preventive. Hamutal is the Chairwoman, CEO & Co-Founder of Else Nutrition Holdings Inc, which developed “Else” – the first 100% plant-based, globally patented dairyfree and soy-free baby nutrition, providing the firstever viable alternative to traditional infant nutrition based on cow's milk and soy - which have been the standard for over 100 years. Else Nutrition was recently recognized by the TSX, a 2021 Venture 50TM Company, for best performance.
Hamutal has dedicated most of her professional life to infant and child nutrition, and in recent years has relentlessly focused on the mission of making healthier cleaner foods accessible and available to everyone. In the last few years, Hamutal has been a trail blazer in this industry and has challenged the global infant formula industry by developing and producing natural clean foods Hamutal holds a BSc with honors in Psychology and General Science and MBA from Tel Aviv University. She lives in Tel Aviv, married and is a mother of 4.
For more information, visit: elsenutrition.com
#19 ANNICA BRESKY PRESIDENT AND CEO - STORA ENSO Annica Bresky is the President and Chief Executive Officer (CEO) of Stora Enso. Annica has been a member of the GLT since 2017. She joined the company in 2017, and has been President and CEO since 2019. Previously Annica was EVP, Consumer Board Division 2017‒2019. President and CEO of Iggesund Paperboard AB, part of the Swedish Holmen Group 2013‒2017. Mill Director at BillerudKorsnäs AB 2010‒2013. Prior to that engineering and superintendent positions at Stora Enso’s Kvarnsveden Mill in 2001‒2010. Annica is a member of the Board of AB Fagerhult.
Part of the global bioeconomy, Stora Enso is a leading provider of renewable products in packaging, biomaterials, wooden construction and paper, and one of the largest private forest owners in the world. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has 22,000 employees and 2021 sales of EUR 10.2 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). For more information, visit: storaenso.com
#20 CHRISTEL BORIES CHAIRMAN AND CEO - ERAMET Christel Bories is Chairman and Chief Executive Officer of Eramet since 2017. Christel Bories began her career in 1986 as a strategy consultant with Booz-Allen & Hamilton before moving to Corporate Value Associates. She subsequently held several executive positions with Umicore, then Pechiney Group. Christel Bories was appointed Chairman and CEO of Alcan Packaging, then Chairman and CEO of Alcan Engineered Products and finally CEO of Constellium (ex Alcan), until December 2011. She was appointed Deputy CEO of Ipsen in February 2013 until March 2016. She also serves on the Board of Directors of Smurfit Kappa since 2012.
With operations in 20 countries around the world, Eramet is a major player in the beneficiation of ores and metals, as well as in the production and transformation of high-performance alloys. Fully committed to the energy transition, the Group aims to become a reference in the responsible transformation of the Earth’s mineral resources for living well together. "Our goal is to continually drive value creation in all of our activities by being more agile, more effective and focused on areas where we will make a difference." For more information, visit: eramet.com
Hamutal Yitzhak, Chair and CEO of Else Nutrition is at Number 18
Madeleine Paquin, President and CEO of LOGISTEC is at Number 27
#21 PASCAL SORIOT EXEC DIRECTOR, CEO - ASTRAZENECA Member of the Board and CEO since October 2012, Pascal brings a passion for science and medicine as well as significant experience in established and emerging markets, strength of strategic thinking, a successful track record of managing change and executing strategy, and the ability to lead a diverse organisation. He served as Chief Operating Officer of Roche’s pharmaceuticals division from 2010 to September 2012 and, prior to that, CEO of Genentech, a biologics business, where he led its successful merger with Roche. Pascal joined the pharmaceutical industry in 1986
and has worked in senior management roles in numerous major companies around the world. He is a doctor of veterinary medicine (École Nationale Vétérinaire d’Alfort, Maisons-Alfort) and holds an MBA from HEC, Paris. Pascal received a British knighthood for services to UK life sciences and leadership in the global response to the COVID pandemic in the Queen’s Birthday Honours 2022. AstraZeneca is a global, science-led, patient-focused pharmaceutical company. We are tireless in seeking to realise the potential of what science can do. For more information, visit: astrazeneca.com
#22 BERNARD CHARLÈS CEO - DASSAULT SYSTÈMES Bernard Charlès has been working as the CEO of Dassault Systèmes since 1995 and as Vice Chairman of the Board of Directors since 2016. He started his career in the company in 1983 to develop new design technologies. In 1986, he founded a dedicated New Technologies, Research and Strategy department, and in 1988 was appointed President of Strategy, Research and Development. Charlès has helped instill a culture of ongoing innovation to further consolidate Dassault Systèmes’ scientific capabilities and make science part of the company’s DNA. The inspiration behind digital mockup, product lifecycle management and 3DEXPERIENCE®, he firmly believes that virtual
technology is about making possible the impossible: 3DEXPERIENCE universes are the most powerful vehicle for testing concepts and creating the future, bringing dream and reality together, and stretching the limits of science and imagination to drive progress in society. Charlès has positioned Dassault Systèmes as the preferred partner for sustainable innovation in three major sectors of the economy: Manufacturing Industries, Life Sciences & Healthcare, Infrastructure & Cities. The company has been recognized as one of Forbes’ "World’s Most Innovative Companies". For more information, visit: 3ds.com
#23 ALISON ROSE GROUP CHIEF EXECUTIVE - NATWEST Alison has been instrumental in leading NatWest Group’s progress and performance as a purpose-led organisation, since NatWest Group’s purpose was announced in February 2020. Having gained a wealth of frontline banking experience during her 29-year career with NatWest, Alison brings a strong customer focus to Board discussions alongside an essential stakeholder lens. Alison is a passionate supporter of diversity and is executive sponsor for NatWest Group’s employeeled networks. Having joined as a graduate in 1992, Alison’s diverse career at NatWest Group has included a number of senior leadership roles, including Deputy CEO of NatWest Holdings; Chief
Executive of Commercial & Private Banking; Head of Europe, Middle East and Africa, Markets & International Banking; and Global Head of International Banking Capital and Balance Sheet. In 2019, Alison was commissioned by the UK Government to report on the barriers to women starting businesses. She now sits on the Rose Review Board and is responsible for driving forward its recommendations. NatWest Group is the largest business and commercial bank in the UK, with a leading retail business. For more information, visit: natwestgroup.com
#24 KRISTIAN VILLUMSEN PRESIDENT AND CEO - COLOPLAST Kristian Villumsen is the President and CEO of Coloplast Group. He has been with Coloplast since 2008. His previous responsibilities at Coloplast include: Senior Vice President, Global Marketing and Commercial Excellence, Senior Vice President Europe Region, Senior Vice President - Emerging Markets, Executive Vice President - Chronic Care. He is a Board Member and Member of the Audit Committee of Demant A/S. Kristian Villumsen holds a MA in Political Science from Aarhus University and a MA in Public Policy from Harvard University. He was born in 1970 and he is a Danish citizen.
Coloplast develops products and services that make life easier for people with very personal and private medical conditions. Working closely with the people who use our products, we create solutions that are sensitive to their special needs. We call this intimate healthcare. Our business includes Ostomy Care, Continence Care, Wound & Skin Care, Interventional Urology and Voice & Respiratory Care. We operate globally and our organisation is about 14,000 employees. Coloplast began as a small company in Denmark more than sixty years ago. Today, we are represented in 45 countries. For more information, visit: coloplast.com
Aurelio Alemán, President and CEO of FirstBank is at Number 25
Mark Schneider, CEO of Nestlé is at Number 35
#25 AURELIO ALEMÁN PRESIDENT AND CEO - FIRSTBANK Aurelio Alemán graduated from the University of Puerto Rico, where he obtained a bachelor’s degree in Business Administration. His career has spanned 40 years in the finance sector, including diverse positions in management, business, credit, operations, and technology areas in institutions such as FirstBank where he started his career, and also at Citibank and Chase Manhattan Bank. He rejoined FirstBank in 1998 as Executive Vice President in charge of the consumer lending business. In October 2005 he was named COO and in 2009, he was appointed CEO.
FirstBank has approximately 700,000 customers and 3,100 employees, offering full retail and commercial banking services in Puerto Rico, Florida, and the Virgin Islands. From the beginning, we have addressed our customers’ needs by providing personalized service and innovative solutions designed to improve and simplify their lives. We partner with our customers to achieve their financial goals through responsive, knowledgeable, and caring employees who are committed to shareholder values and the well-being of our communities. For more information, visit: 1firstbank.com
#26 MICHAEL K. WIRTH CHAIRMAN AND CEO - CHEVRON Michael K. (Mike) Wirth, 61, is chairman of the board and chief executive officer of Chevron Corporation. He was elected to these positions by Chevron’s board of directors in September 2017 and assumed the roles on February 1, 2018. Prior to his current role, Wirth served as vice chairman of the board in 2017 and executive vice president of Midstream & Development for Chevron Corporation from 2016 – 2018. In that role, he was responsible for supply and trading, shipping, pipeline and power operating units, as well as corporate strategy; business development; and policy, government and public affairs. Wirth serves on the board of directors of Catalyst, the board of
directors and executive committee of the American Petroleum Institute, and the executive committee of the International Business Council of the World Economic Forum. He is also a member of The Business Council, the National Petroleum Council, the Business Roundtable, the American Society of Corporate Executives, and the American Heart Association CEO Roundtable. Wirth joined Chevron in 1982 as a design engineer. He earned a bachelor’s degree in chemical engineering from the University of Colorado in 1982. For more information, visit: chevron.com
#27 MADELEINE PAQUIN PRESIDENT AND CEO - LOGISTEC Madeleine Paquin has been President and CEO of LOGISTEC Corporation since 1996. LOGISTEC offers specialized industrial services including cargo handling in 54 ports and 80 terminals in North America, marine transportation to the Canadian Arctic, as well as environmental services including the renewal of underground water mains, site remediation, dredging and dewatering, soils and materials management, risk assessment, and manufacturing of woven hoses. LOGISTEC is a publicly traded company with its shares listed on the Toronto Stock Exchange. Prior to becoming President and CEO of LOGISTEC, she held various positions in the marine sector.
Ms. Paquin currently holds directorships in Air Canada Ltd and the Maritime Employers Association. She has held directorships in several trade associations as well in prominent company boards such as Sun Life Canada, Canadian Pacific Railway and Les Aéroports de Montréal. Ms. Paquin is a graduate of the Richard Ivey School of Business at the University of Western Ontario and of HEC Montréal. Ms. Paquin was a recipient of the Top 40 Under 40 in 1998. She was named No. 1 of the Top 100 Women Entrepreneurs by Canadian Business, Profit magazine and Chatelaine in 1999. For more information, visit: logistec.com
#28 KATTIYA INDARAVIJAYA CEO - KASIKORNBANK Ms. Kattiya Indaravijaya is the CEO of Kasikorn Bank, one of the largest banks in Thailand. She is also the Chairwoman at Kasikorn Research Center Co. Ltd. She is on the Board of Directors at Beacon Venture Capital Co. Ltd., Kasikornbank Public Co. Ltd., Amata B Grimm Power Plant Infrastructure Fund, Kasikorn Leasing Co. Ltd. and Muang Thai Group Holding Co. Ltd. She received her undergraduate degree from the University of Chulalongkorn and an MBA from The University of Texas. Kasikorn Bank is committed to being a customercentric financial business group initiating something new and keeping up with the changes through the
combination of technology and human resources To deliver financial services of international quality standards and creating sustainability for all stakeholders. Kasikorn Bank was established on June 8, 1945 with only 21 employees, when the first accounting period ended just 6 months later, there were deposits of 12 million baht and assets of 15 million baht. Over the decades the Bank has committed to developing new organizations and financial products on a regular basis to provide excellent service under the motto “ Service at All Levels”. For more information, visit: kasikornbank.com
#29 JEAN-LAURENT BONNAFÉ DIRECTOR AND CEO - BNP PARIBAS After graduating in Engineering, Jean-Laurent Bonnafé joined the French civil service, working first as a Senior Officer in the French Ministry of Industry and subsequently as Technical Advisor to the Minister of Trade and Industry. In 1993 he joined BNP as a Senior Investment Banker. In 1997 he was appointed Head of Strategy and Development. Following the BNP merger with Paribas in the year 2000, he led the post-merger integration process. In 2002 Mr Bonnafé was appointed Head of the BNP Paribas Group’s French Retail Banking division, and a member of the Group Executive Committee.
In 2006, when BNL was merged into the BNP Paribas Group, he was appointed BNL Managing Director. In 2008, he became BNP Paribas Chief Operating Officer and assumed responsibility for the Retail Banking activities of the entire Group. On 14 May 2009, Mr Bonnafé was appointed CEO of Fortis Bank, remaining in this post until 1 February 2011 with a primary mission to ensure the smooth integration of Fortis Retail Banking into the Group. Jean-Laurent Bonnafé graduated in Engineering from leading French higher education establishment École Polytechnique and the École des Mines. For more information, visit: group.bnpparibas
#30 BOBBY MARHAMAT CEO - RAYDIANT Bobby Marhamat started business building before 4th grade, and he hasn’t stopped. Growing up in Lincoln, Nebraska, Bobby remembers watching his father launch and grow profitable businesses and taking in each success and failure. At 9 years old, he became an entrepreneur himself and he still applies the lessons he learnt from his father to this day. Today, this contributing member of Forbes Business Development Council and current CEO of Raydiant and former executive of technology companies like Verizon, Revel, and Highfive, helps multiple businesses identify and implement the measures they need to help them boost customer loyalty, expand and survive.
As the CEO of Raydiant, Bobby has helped scale the company to become the leader in in-location experience management. Today, Raydiant is the leading innovative, fastest growing and most funded company in experience platform management. Raydiant is the first experience platform for physical spaces and is the new way customers and employees connect with brands. We are building an enduring company and operating system for locations that emphasizes the value of human interactions and connection. We put the customer at the center of everything we do. For more information, visit: raydiant.com
#31 DR. JOCHEN WEYRAUCH CEO - DÜRR SYSTEMS Dr. Jochen Weyrauch became CEO of Dürr AG and CEO Dürr Systems AG in 2022. He is a German citizen with studies in Industrial Engineering and Management. Between 2017 and 2021 he served as a Member of the Board of Management of Dürr AG. Prior to that he was a Senior Partner at Endurance Capital AG, Munich between 2014 – 2016. He was an Independent Consultant 2006 – 2014, President & CEO of Schenck Process Holding GmbH, Member of the Management Board/COO of Carl Schenck AG, 1999 – 2003, President & CEO of Turbo-Lufttechnik GmbH (TLT) 1999 – 2002. He held various management positions and Member of the Management Board at Continental Teves AG & Co.
oHG. Dr. Weyrauch holds a PhD (Dr.). As an international market leader, Dürr is your onestop shop for the automotive industry, and plans and implements turnkey paint shops, final assembly systems and machine and robot technology. Dürr offers high-performance systems for air pollution control and painting technology. As well as products that are technology leaders, our process expertise, project management and service also set us apart from the crowd. We have been researching smart networking for 20 years, and are trend-setters in the digitization of systems, machines, and processes. For more information, visit: durr.com
#32 REVATHI ADVAITHI CEO - FLEX Revathi Advaithi is Chief Executive Officer of Flex, the global manufacturing partner of choice that helps a diverse customer base design and build products to improve the world. Ms. Advaithi assumed the role of CEO in February 2019 and is responsible for architecting the company’s strategic direction and leading Flex through a transformation that is defining a new era in manufacturing. Along with Flex’s strong workforce spanning 30 countries, Ms. Advaithi is focused on driving technology innovation, supply chain, and responsible, sustainable manufacturing solutions across various industries and end markets. Prior to Flex, Ms. Advaithi was president and chief operating
officer for the electrical sector business for Eaton, a power management company with over $20 billion in sales. Ms. Advaithi serves on the Boards of Uber and Catalyst.org. She is a member of the Business Roundtable, MIT CEO Advisory Board and the Catalyst CEO Champions For Change initiative. Ms. Advaithi was recognized as one of Fortune’s Most Powerful Women in Business list for two consecutive years (2020, 2019) and named one of Business Today’s Most Powerful Women in India (2020). Ms. Advaithi has a bachelor's degree in mechanical engineering and holds an MBA. For more information, visit: flex.com
#33 OLIVIER ANDRIÈS CEO AND DIRECTOR - SAFRAN Olivier Andriès joined the Treasury department at the French Ministry of Finance in 1990, where he oversaw major state-owned aerospace and defense companies. In 1993, he joined the cabinet of the Minister of the Economy and Finance, Edmond Alphandéry, as advisor on industrial affairs. In 1995 he moved to the Lagardère group as Deputy Director of Strategy. He managed various merger and acquisition projects, contributing to the consolidation of the European aerospace and defense sector. He was named personal advisor to Jean-Luc Lagardère in 1998. Olivier Andriès joined Airbus in 2000, serving as Vice President, Widebody Aircraft Programs (A330/A340). He was appointed to
the Executive Committee in 2005 as Executive Vice President, Strategy, supporting the A350 XWB project until its official launch. He joined Safran in 2008 as Executive Vice President, Strategy and Development. He was subsequently named Executive Vice President, in charge of the Defense and Security branch, and a member of the Management Board, in 2009. In 2019, the Board of Directors of Safran has selected Olivier Andriès as successor to Philippe Petitcolin in the position of Chief Executive Officer with effect on January 1st, 2021. For more information, visit: safran-group.com
#34 ESTER BAIGET PRESIDENT AND CEO - NOVOZYMES Ester Baiget is an experienced international leader with a strong track-record. Ester came to Novozymes after working as president for Dow’s Industrial Solutions business unit and a member of the executive leadership team. She joined Dow in 1995 as an engineer in Tarragona, Spain. In her years as Business President for Industrial Solutions, the business expanded the market, improved its market-leading position, delivered double-digit growth and strong earnings. She holds a chemical engineering degree and an MBA from the University of Tarragona (Spain).
At Novozymes, we are unique in our dedication to enzymes and microbes. For more than 70 years, our work with these biological problem solvers has made a big difference to our shared world. Our purpose looks ahead to what we can achieve together with customers, consumers, governments, academia and others around us. Our strategy is rooted in our ability to unlock growth for customers, investors, the world and our company with the power of biotech. Sustainable growth is one of the core challenges in the world, we bring the power of biology to answer the call. For more information, visit: novozymes.com
Werner Baumann, Chairman and CEO of Bayer AG is at Number 36
Jackie Fouse, CEO of Agios Pharmaceuticals is at Number 38
#35 MARK SCHNEIDER CEO - NESTLÉ Mark Schneider became Nestlé's Chief Executive Officer in January 2017. Together with the company's 276,000 associates in 186 countries, he strives to enhance quality of life through the power of food with Nestlé’s 2,000+ brands. Mark has worked with Nestlé's Board and executive team to sharpen the company’s strategic focus on high-growth categories like coffee, pet care and nutritional health products. He has supported the company's innovation efforts to bring new products even faster to market. Mark is actively engaged with the team in exploring healthy, delicious and nutritious products and enjoys trying new samples himself.
Prior to Nestlé, Mark was CEO of the Fresenius Group from 2003 to 2016. He joined Fresenius in 2001 as CFO of Fresenius Medical Care. Mark is a member of the Board of Directors of Nestlé S.A., the World Economic Forum (WEF) Board of Trustees and its International Business Council, the European Round Table for Industry and the Board of the Consumer Goods Forum. He has a graduate degree in Finance and Accounting and a doctoral degree in Business Administration from the University of St. Gallen, Switzerland. He also holds an MBA from Harvard University. For more information, visit: nestle.com
#36 WERNER BAUMANN CHAIRMAN AND CEO - BAYER AG Werner Baumann became Chairman of the Board of Management (CEO) of Bayer AG on May 1, 2016. Since January 1, 2020, he is also the company’s Chief Sustainability Officer. Werner Baumann was born in Krefeld, Germany, on October 6, 1962. After studying economics at RWTH Aachen University and the University of Cologne, he joined Bayer in 1988. His first duties were in the Corporate Finance Department in Leverkusen. In 1991 he transferred to Bayer Hispania Comercial in Barcelona, Spain, to take up a position as controller, becoming assistant to the managing director in 1995. One year later, he moved to Bayer Corporation in Tarrytown, New York, latterly heading
up the global Business Planning & Administration organization of the Diagnostics Business Group. Effective January 1, 2010, Baumann was Chief Financial Officer of Bayer AG. From October 1, 2014, until his appointment as Chairman of the Board of Management, he was Chief Strategy and Portfolio Officer. Between April and the end of December 2015, Baumann was additionally Chairman of the Board of Management of Bayer HealthCare AG. From January 1, 2020, to January 31, 2021, in addition to his role as CEO, he was also Labor Director of Bayer AG. For more information, visit: bayer.com
#37 ANNE RIGAIL CEO - AIR FRANCE A graduate of the Mines Paris Tech business school, Anne Rigail joined Air Inter in 1991. In 1996, she was appointed head of Air France Customer Services at Paris-Orly. In 1999, she became head of Passenger and Baggage connections at Paris-CDG, and subsequently head of customer and baggage products for Ground Operations. In 2005, she was promoted Head of Operations at the Paris-CDG hub and became VP Paris-CDG Hub in 2009. She joined the Executive Committee in 2013 as Executive Vice President in-flight services, in charge of cabin crew. In 2017, she was appointed EVP Customer Experience, in charge of supervising ground and in-flight products and services, including
Air France airport lounge design, cabin layout and modernization, and roll-out of in-flight Wi-Fi. Since 1933, Air France has been promoting and highlighting France throughout the world. With an activity divided between passenger transport, cargo transport and aeronautical maintenance, Air France is a major air transport player. More than 42,000 staff that make up its workforce are committed on a daily basis to offering each customer a unique travel experience. Air France, KLM Royal Dutch Airlines and Transavia make up the Air France-KLM Group. The leader in terms of intercontinental traffic in Europe. For more information, visit: airfrance.com
#38 JACKIE FOUSE CEO - AGIOS PHARMACEUTICALS Dr. Fouse has served as a member of our board of directors since December 2017 and became chief executive officer of Agios in February 2019. She previously served as president and chief operating officer of Celgene Corporation until April 2017, and as a member of Celgene’s board of directors through June 2017. Dr. Fouse joined Celgene in 2010 as chief financial officer and was named president of the company’s global hematology & oncology franchise in 2014. Before joining Celgene, Dr. Fouse served as chief financial officer of Bunge Limited, a leading global agribusiness and food company. Prior to Bunge, she
served as SVP, chief financial officer, and head of corporate strategy at Alcon, a leading ophthalmic pharmaceutical and medical device company. Prior to Alcon, she held senior leadership roles with international companies, spending almost a decade of her career in Switzerland. She also serves on the board at Incyte Corporation. Dr. Fouse earned her B.A. and M.A. in economics and a Ph.D. in finance from the University of Texas at Arlington and her Master’s in environmental management from the Yale School of Forestry & Environmental Studies. For more information about, visit: agios.com
#39 HENRIK EHRNROOTH PRESIDENT AND CEO - KONE Henrik Ehrnrooth has been President and CEO of KONE since 2014. Member of the Executive Board and employed by KONE since 2009. Previously served at KONE as Chief Financial Officer 2009–2014. Prior to joining KONE, he worked at Goldman Sachs 1998–2009 (most recently as Managing Director in the Investment Banking Division) and at UBS in various roles 1994–1998. Current key positions of trust: Member of the Board of UPM-Kymmene Corporation, Member of the Foundation Board of the International Institute of Management Development (IMD, Switzerland), and Member of the European Round Table for Industry.
KONE is a global leader in the elevator and escalator industry, and our job is to make the world’s cities better and more sustainable places to live. At KONE, our mission is to improve the flow of urban life. As a global leader in the elevator and escalator industry, KONE provides elevators, escalators and automatic building doors, as well as solutions for maintenance and modernization to add value to buildings throughout their life cycle. Through more effective People Flow®, we make people's journeys safe, convenient and reliable, in taller, smarter buildings. In 2021, KONE had annual sales of EUR 10.5 billion, and at the end of the year over 60,000 employees. For more information, visit: kone.com
#40 THOMAS INGENLATH CEO - POLESTAR Thomas Ingenlath joined Polestar in 2017 from Volvo Cars where he was SVP of Design. Prior, he held various design management roles at Škoda Auto and Volkswagen. Thomas has over 20 years of design, innovation and leadership experience in the automotive industry. Polestar Automotive is a Swedish premium electric vehicle manufacturer. Founded by Volvo Car AB and Zhejiang Geely Holding Group Co., Ltd, in 2017, Polestar enjoys specific technological and engineering synergies with Volvo Cars and benefits from significant economies of scale as a result. Polestar is headquartered in Gothenburg, Sweden,
and its vehicles are currently available and on the road in markets across Europe, North America, China and Asia Pacific. By 2023, the company plans that its cars will be available in an aggregate of 30 markets. Polestar cars are currently manufactured in two facilities in China, with additional future manufacturing planned in the USA. In the UK, the local Polestar office is in Maidenhead. Polestar Spaces have been opened in London, Manchester and Birmingham, with more to follow. Polestar has a UK global research and development centre responsible for future product development. For more information, visit: polestar.com
Henrik Ehrnrooth, President and CEO of KONE is at Number 39
Paula A. Kerger, President and CEO of PBS is at Number 42
#41 KAMILLA HAMMERICH SKYTTE CEO - REALKREDIT DANMARK Kamilla Hammerich Skytte has held the following positions: Chairman of board of directors home a/s. Chairman of board of directors Kreditforeningen Danmarks Pensionsafviklingskasse. Member of board of directors Realkreditrådet. Realkredit Danmark dates back to 1851, when the first mortgage credit institution, which would later form Kreditforeningen Danmark, was established. Kreditforeningen Danmark, which was established after the legislative amendments in 1970, incorporated four existing mortgage credit institutions. On 1 January 1993, Kreditforeningen Danmark (KD) was converted into a limited company, Realkredit Danmark A/S.
A group structure was established in which Foreningen RealDanmark owned all the shares in RealDanmark Holding A/S, which in turn held all the shares in Realkredit Danmark A/S. In 1998 collaboration between RD and BG Bank resulted in the creation of a very successful mortgage credit company, BG Kredit A/S. Later that year RD and BG bank formed the holding company RealDanmark A/S, which became the parent company of both RD and BG Bank. Realkredit Danmark A/S is an independent brand in Danske Bank Group. For more information, visit: rd.dk
#42 PAULA A. KERGER PRESIDENT AND CEO - PBS Paula A. Kerger is president and chief executive officer of PBS, the nation’s largest non-commercial media organization representing more than 330 member stations throughout the country. She is the longest-serving president and CEO in PBS history. Over 15 years, Kerger has led the transformation of PBS from a broadcaster to a multiplatform digital media organization which delivers on public television’s essential mission of education, inspiration and service to the American public. Each year, 80% of U.S. television households watch PBS, and each month, Americans view nearly 375 million videos on PBS’s digital platforms. Programs on PBS are consistently recognized with the industry's most
prestigious honors, including Peabody, Emmy and Alfred I. duPont-Columbia University awards. Under Kerger’s leadership, PBS has deepened its impact, from providing universal access to early learning resources through the PBS KIDS broadcast and streaming channels, to empowering more than 3 million educators each month with digital resources through PBS LearningMedia. Kerger also serves as president of the PBS Foundation, which provides a significant source of revenue for projects that benefit the entire public television system.
For more information, visit: pbs.org
#43 AENGUS KELLY CEO AND EXEC DIRECTOR - AERCAP Mr. Kelly was appointed Executive Director and Chief Executive Officer of AerCap on May 18, 2011.
degree in Commerce and a Master’s degree in Accounting from University College, Dublin.
Previously he served as Chief Executive Officer of AerCap’s U.S. operations from January 2008 to May 2011. Mr. Kelly served as AerCap's Group Treasurer from 2005 through December 31, 2007.
AerCap is the largest owner of commercial aircraft in the world and the most active aircraft trader. AerCap is an industry leader across all areas of aviation leasing, with a highly attractive portfolio, a diversified customer base and an order book of the most in-demand new technology assets in the world. This scale, combined with our industryleading team and deep domain expertise, enables us to provide comprehensive and tailor-made fleet solutions that are unrivaled in the leasing business.
He started his career in the aviation leasing and financing business with Guinness Peat Aviation (GPA) in 1998 and continued working with its successors AerFi in Ireland and debis AirFinance and AerCap in Amsterdam. Prior to joining GPA in 1998, he spent three years with KPMG in Dublin. Mr. Kelly is a Chartered Accountant and holds a Bachelor’s
For more information, visit: aercap.com
#44 FRANS MULLER PRESIDENT AND CEO - AHOLD DELHAIZE Frans Muller started as President and Chief Executive Officer of Ahold Delhaize on July 1, 2018. Before that, he served as Deputy Chief Executive Officer and Chief Integration Officer since 2016. He was also Acting Chief Operating Officer for Delhaize America from October 2016 until January 2018. Prior to Ahold Delhaize, Frans served for three years as President and CEO of Delhaize Group. Before joining Delhaize Group, Frans worked for German retailer Metro AG for more than 15 years, serving in various leadership positions, including managing director of Makro, member of the board of Metro Cash & Carry International, president for
Asia Pacific and Russia / Ukraine, and CEO of Metro group buying. From 2006 until 2013, he was a member of the Metro AG management board and served as CEO of Metro Cash & Carry from 2008 until 2013. From 1988 to 1997, Frans held various management and executive positions at KLM Cargo in Amsterdam, Frankfurt, Vienna and Singapore. Frans currently serves as chairman of the board of the Vlerick Business School. He is Vice Co-Chair to the board of directors and a member of the governance committee of the Consumer Goods Forum (CGF). For more information, visit: aholddelhaize.com
#45 HEIKKI MALINEN PRESIDENT AND CEO - OUTOKUMPU Heikki Malinen has been President, Chief Executive Officer and Chairman of the Outokumpu Leadership Team since 2020. He is responsibile for Group management, legal and compliance, safety and health and business area Europe. He has been employed by the Outokumpu Group since 2020. Heikki Malinen has been President and CEO: Posti Group Corporation (formerly Itella Corporation) 2012–2019, President and CEO: Pöyry PLC 2008– 2012, Executive Vice President, Strategy, member of the UPM Executive Team: UPMKymmene Corporation, Helsinki, Finland 2006–2008, President: UPM North America, Chicago, USA 2004–2005, President of Sales: UPM North America, Chicago,
USA 2002–2003, Managing Partner: Jaakko Pöyry Consulting, New York, USA 2000–2001, Engagement Manager: McKinsey & Co, Atlanta, USA 1997–1999, Director, Business Development UPM Paper Divisions, Helsinki, Finland 1994–1996. He was born in 1962 and he is a Finnish citizen. He holds a M.Sc. (Econ.) and an MBA (Harvard). Outokumpu is the global leader in stainless steel working towards a world that lasts forever. Our history goes back to the invention of steel and we continue to drive stainless steel innovation. For more information visit: outokumpu.com
#46 YAMINI RANGAN CEO - HUBSPOT Yamini Rangan is Chief Executive Officer at HubSpot. Prior to becoming CEO, Yamini served as HubSpot's first-ever Chief Customer Officer, overseeing the marketing, sales, and services teams. A tech industry veteran, Yamini has more than 24 years of experience ranging from product marketing, sales, and strategy. Yamini previously served as Chief Customer Officer at Dropbox, where she was responsible for embedding customer focus across the organization. Before Dropbox, she was VP of Sales Strategy and Operations at Workday, where she helped quadruple revenue and scaled the sales organization. At SAP, Yamini held several customerfacing leadership roles in strategy, pre-sales and
value-based selling and helped close landmark deals. She holds a Bachelor’s degree in Electronics Engineering, a Master’s in Computer Engineering, and an MBA from Berkeley. In 2019, Yamini was recognized as one of the Most Influential Women in Business by San Francisco Business Times. The CRM Platform Your Whole Business Will Love: HubSpot’s CRM platform has all the tools and integrations you need for marketing, sales, content management, and customer service. Each product in the platform is powerful alone, but the real magic happens when you use them together. For more information, visit: hubspot.com
#47 LYNN GOOD CHAIR, PRESIDENT, CEO - DUKE ENERGY Lynn Good is chair, president and chief executive officer of Duke Energy, one of America’s largest energy holding companies. Under her leadership, Duke Energy has intensified its focus on serving its customers and communities well today while leading the way to a cleaner, smarter energy future. Before becoming CEO in 2013, she served as Duke Energy’s chief financial officer and earlier led the company’s commercial energy businesses during its initial development of renewable energy projects. She began her utility career in 2003 with Cincinnatibased Cinergy, which merged with Duke Energy three years later. Prior to 2003, she was a partner at two international accounting firms, including a long
career with Arthur Andersen. Fortune magazine lists Good as 23rd among the “Most Powerful Women in Business,” and Forbes magazine calls her one of “The World’s 100 Most Powerful Women.” Under Good’s leadership, Duke Energy is executing an aggressive clean energy strategy to achieve its climate goals – at least a 50% carbon reduction by 2030 and net-zero carbon emissions by 2050. Duke Energy, one of the largest energy holding companies in the United States, supplies and delivers electric services to approx. 7.9 million customers in the Southeast and Midwest. For more information, visit: duke-energy.com
#48 THANH NGUYEN CEO - OPENCOMP Thanh Nguyen is CEO and Co-Founder of OpenComp, a compensation intelligence company that empowers modern employers to confidently make the best business and career decisions. Thanh is a leading compensation and HR strategies expert with 20+ years of experience - a trusted advisor to Airbnb, a16z, ChanZuckerburg foundation, Figma, LiveNation, Lyft, Uber and many more. He created the OpenComp platform to scale this knowledge and empower companies to pay employees fairly. Prior to OpenComp, Thanh co-scaled the most credible name in compensation advisory, Connery
Consulting, overseeing operations, a team of management and delivery consultants, and business development. Thanh was the second People Operations hire at Salesforce, leading the Total Rewards team for eight years, and later, establishing operations in Asia Pacific. We believe businesses can do good while doing good business. We've done it before and can't wait to do it again.
For more information, visit: opencomp.com
#49 TARIQUE AL-ANSARI CEO - PAYSTONE Tarique Al-Ansari, or “T”, is one of those elusive university dropout success stories. After three years of studying software engineering at Western University in London, Ontario, T decided to start his own online food court. Running a business drew his attention to the challenges small business owners face when accepting electronic payments, so he started his own payment processing company in 2009. Over a decade later the award-winning company evolved into Paystone. Paystone is a leading North American payment and software company redefining the way merchants
engage their customers and grow their businesses. Our seamlessly integrated suite of automated payment processing, customer loyalty, gift card solutions, and now reputation marketing, is used by brands such as Irving Oil, The Source, Global Pet Foods, Kernels Popcorn, and many of the MTY Food Group's restaurant brands. We focus on helping our clients deliver exceptional experiences to their customers, helping merchants turn everyday transactions into meaningful interactions and opportunities for growth.
For more information, visit: paystone.com
#50 BILL MCDERMOTT PRESIDENT AND CEO - SERVICENOW Bill McDermott is President and Chief Executive Officer of ServiceNow, the digital workflow market leader with more than 12,000 colleagues worldwide. He is one of the most respected and admired leaders in the technology industry, with a career of leadership success spanning Xerox, Gartner, Siebel Systems, SAP and ServiceNow. Since he joined ServiceNow in late 2019, McDermott has accelerated the company’s strategy to help its customers win the “workflow revolution.” As the global coronavirus pandemic took hold in early 2020, Bill and the ServiceNow team innovated faster than ever, delivering free emergency response workflow applications and a cutting-edge Safe
Return to Workplace suite. ServiceNow’s momentum is palpable, with leading customer retention rates, high net promoter scores and near 100% growth in market value since the beginning of 2020. Bill is a graduate of Dowling College, Northwestern University’s Kellogg School of Management and the Executive Development Program of the Wharton School, University of Pennsylvania. He and his wife Julie have two grown sons and are proud parents of a new puppy. They reside in Northern California. For more information, visit: servicenow.com
#51 Gaurab Chakrabarti Chief Executive Officer, Co-Founder Solugen
#64 Kim Rivers Chief Executive Officer Trulieve Cannabis Corp
#52 Dr. Waqaas Al-Siddiq Chairman, CEO and Founder Biotricity
#65 Michael P. Bailey President and Chief Executive Officer AVEO
#53 Carlos Tavares Chief Executive Officer Stellantis
#66 Taka Nagao Chief Executive Officer Kyoto Fusioneering
#54 Shoichiro Tanaka Chief Executive Officer TANAAKK INC
#67 Sanjay Brahmawar Chief Executive Officer Software AG
#55 Shane Smith President and Chief Executive Officer Smithfield Foods
#68 Hayden Brown Chief Executive Officer Upwork
#56 Bernardo Lustosa Chief Executive Officer ClearSale
#69 Jessica Billingsley Chief Executive Officer and Board Chair Akerna
#57 Aaron Rubin Chief Executive Officer ShipHero
#70 Marvin Ellison Chairman, President and Chief Executive Officer Lowe’s Companies
#58 Matt Strang Chief Executive Officer Delic
#71 Jules Urbach Founder, CEO and Chairman OTOY
#59 Sumir Meghani Chief Executive Officer Instawork
#72 Saikat Dey Chief Executive Officer and Co Founder GuardHat
#60 Mark DePristo Chief Executive Officer BigHat Biosciences
#73 Hana Al Rostamani Group Chief Executive Officer First Abu Dhabi Bank
#61 Erez Lorber Chief Executive Officer Questar Auto Technologies
#74 Nik Storonsky Chief Executive Officer Revolut
#62 Andrew Barnell Chief Executive Officer Geneoscopy
#75 Valentin Stalf Chief Executive Officer N26 Bank
#63 Mike Darrow President and Chief Executive Officer TrueCar
#76 Steve Rendle Chairman, President and Chief Executive Officer VF Corporation
Thomas Ingenlath, CEO of Polestar is at Number 40
#77 Sanjay Mehrotra President and Chief Executive Officer Micron Technology
#89 Hervé Hoppenot Chairman, President and Chief Executive Officer Incyte
#78 Dr. Tom Leighton Chief Executive Officer and Co-Founder Akamai Technologies
#90 Leonard S. Schleifer Fonder, President and Chief Executive Officer Regeneron Pharmaceuticals
#79 Gregory J. Hayes Chairman and Chief Executive Officer Raytheon Technologies Corporation
#91 Ron Clarke Chief Executive Officer and Chairman FleetCor Technologies
#80 Gerrit Marx Chief Executive Officer Iveco Group
#92 James Liang Co-founder, Executive Chairman of the Board Trip.com Group
#81 Keith Todd Chief Executive Officer Trading Technologies International
#93 Joseph M. Hogan Director, President and Chief Executive Officer Align Technology
#82 Dr. Jurgi Camblong Founder and Chief Executive Officer SOPHiA GENETICS
#94 Li Faben Executive Director China Molybdenum
#83 Jeffrey K. Storey President and Chief Executive Officer Lumen
#95 Gary S. Guthart Chief Executive Officer Intuitive Surgical
#84 Rafal Modrzewski Chief Executive Officer and Co-Founder ICEYE
#96 Neil Hunn President and Chief Executive Officer Roper Technologies
#85 James A. May II President and Chief Executive Officer REC Silicon
#97 Michael A. Mussallem Chairman and Chief Executive Officer Edwards Lifesciences
#86 Dr. Reshma Kewalramani Chief Executive Officer, President, Director Vertex Pharmaceuticals
#98 Martin Mucci Chairman and Chief Executive Officer Paychex
#87 Al Monaco President and Chief Executive Officer Enbridge
#99 Siobhán Talbot Group Executive Glanbia
#88 Ben Minicucci President and Chief Executive Officer Alaska Air Group
#100 Richard A. Gonzalez Chairman and Chief Executive Officer AbbVie
Thank you to all participants and audience of the 2022 Top 100 Innovation Leaders Awards. Congratulations to all the deserving winners for driving innovation in their industries. PAGE 122
Nominate for 2023 at worldbizmagazine.com
GEM - THE GLOBAL RECYCLING LEADER AND NEW ENERGY MATERIALS SUPPLIER GEM, as a key company in the first batch of Chinese leading green enterprises planning to list on the Swiss Stock Exchange, has attracted global capital markets and industry attention. GEM was founded in China twenty years ago. The founder of the company has a green dream, is dedicated to the world's green development and spares no effort to address climate change. His driving principle is: Humankind and nature are one living community, and only when they live in harmony can humans have a better life.
In 2021, in the City of Glasgow, delegates representing nearly 200 countries seized what is considered to be the "last opportunity" to reverse the climate crisis by bravely agreeing the Glasgow Climate Pact. Ultimately, humanity has made a difficult but wise choice: limiting the global temperature rise to 1.5 degrees Celsius and pledging to cut global carbon dioxide emissions by nearly half by 2030. From the Kyoto Protocol to the Copenhagen Climate Change Conference to the Paris Climate Agreement, it took 25 years for humanity to finally move from a tiny
step in a long history, to a tremendous leap in human civilization, by collectively embarking on the journey of carbon reduction! In December 2001, a Chinese recycling technology researcher, Professor Xu Kaihua of Central South University, took the lead in proposing the concept of a green and low-carbon recycling industry with "limited resources, unlimited recycling" in China. Professor Xu launched the concept of "Green-EcoManufacture" in Shenzhen, China, thus naming his company "GEM". Professor Xu was hoping to resolve the double contradiction between the growing shortages of resources worldwide and the environmental pollution associated with traditional methods of procuring resources through exploiting urban mines and building a resource recycling model. Since that time, Professor Xu Kaihua has led his GEM team down the road to realizing a key green industry dream: "Exploiting urban mines, creating the world's recycling factory" Central South University is a first-class university dedicated to non-ferrous metal mining, smelting and new energy development in China. It has educated and cultivated more than 30% of the engineering and technical top talented people in the field of nonferrous metals and new energy in China. Over the past 20 years, GEM started with recycling nickel-cobalt resources and mobile phone batteries, moving on to include waste electronics and electrical equipment (E-waste), end-of-life vehicles, and power batteries (such as those used in Electric Vehicles (EVs). GEM then entered the world of remanufacturing power batteries and power battery materials. Thus, GEM has thoroughly explored virtually all pathways for the comprehensive exploitation of urban mines. It has built an urban mining system centered on Chinese cities, and has successively made major breakthroughs in key technologies such as used batteries, E-waste, end-oflife vehicles, lithium-nickel-cobalt-tungsten rare metal waste, power battery recycling, and the ternary "core" manufacturing of power battery materials. GEM has also developed key technologies and equipment systems for waste recycling, and constructed a new energy full life cycle value chain, which is the lithium-cobalt-nickel-tungsten resource recycling value chain, E-waste recycling value chain and new energy recycling models.
From the Kyoto Protocol to the Copenhagen Climate Change Conference to the Paris Climate Agreement, it took 25 years for humanity to finally move from a tiny step in a long history, to a tremendous leap in human civilization, by collectively embarking on the journey of carbon reduction!
It has registered 2,455 patents in China and the world, won the China National Science and Technology Progress Award twice, and has more than 1,050 innovative talents (staff who have been recognized for their innovative abilities). It has been successively awarded by the Chinese government as a national circular economy pilot enterprise, a national circular economy education demonstration base, and a national "urban mines" demonstration base, a National Green Factory, a National Environmental Education Social Practice Base for Primary and Secondary School Students, a National Ecological Environment Science Popularization Base and other honorary green titles. GEM's achievements in exploiting urban mines have also been recognized by the world. It has won the "Global Circular Economy Award" in Davos in 2018. In 2021, the Hurun Research Institute ranked GEM as the number 8th Chinese company in terms of its alignment to implement the United Nations Sustainable Development Goals (SDGs). GEM has also participated in a key project of the Global Environment Facility (GEF) as a case study to reduce emissions of Persistent Organic Pollutants (POPs) from organic wastes. GEM has been written up in "Nature" magazine, and selected for Forbes' "2021
China's Most Innovative Enterprise List" TOP-50 list. GEM is a world-leading enterprise for enabling the circular economy, and has made contributions to the construction of a circular society and a green and low-carbon industrial model. GEM Is truly representative of the world's advanced enterprises that practice green and low-carbon development. The development of GEM has complemented this historic opportunity for China's capital markets to promote green development. In January 2010, GEM, which had already been established for 9 years, listed on the Shenzhen Stock Exchange with the first shares related to exploiting urban mines and contributing to China's circular economy. The raising of investment capital on the Exchange enabled the further expansion of GEM's urban mining efforts. Investment in GEM on the Shenzhen Exchange arrived in a timely manner and enabled GEM to rapidly develop some 16 waste recycling facilities in 11 provinces and municipalities, including Hubei, Hunan, Guangdong, Jiangxi, Henan, Tianjin, Jiangsu, Zhejiang, Shanxi, Fujian, and Inner Mongolia (among others). With the opening of GEM' New Energy Materials Park, waste recycling range spans a radius of some 3,000 kilometers across China, and has established a waste treatment partnership with a catchment area comprising more than 500 million residents. The footprint of this circular development covers nearly 9 million square kilometers of China. At the same time, GEM has also invested in facilities in South Africa, South Korea and Indonesia, thus exploiting urban mines on an international basis, therefore serving the world with green technology. Thanks to 20 years of green efforts and recycling industry practices, GEM has realized the successful operation of the urban mines in China, and has proved in China that resource recycling can enter the mainstream of economic development and strategic emerging industry development. 1. Bravely going forward, building a power battery recycling system, meeting the challenges of the EU's "New Battery Act" and China's new energy development, and promoting new energy "from green to green"
GEM, as one of the first Chinese companies listed on the Swiss Stock Exchange (SIX), plans to build a power battery recycling facility in Europe to serve the requirements for new energy development for power batteries and nickel-cobalt-lithium resource recycling. At present, GEM has built power battery recycling facilities all over China, and in South Korea and Indonesia. GEM's ambition is to build a global power battery recycling system and become a global power battery recycling enterprise.
GEM, as one of the first Chinese companies listed on the Swiss Stock Exchange (SIX), plans to build a power battery recycling facility in Europe to serve the requirements for new energy development for power batteries and nickel-cobalt-lithium resource recycling. At present, GEM has built power battery recycling facilities all over China, and in South Korea and Indonesia. GEM's ambition is to build a global power battery recycling system and become a global power battery recycling enterprise. The "New EU Battery Regulation," implemented on January 1, 2022, requires that by 2030, the proportion of recycled materials of cobalt, nickel and lithium in battery production shall not be less than 12%, 4%, and 4%; by 2035, cobalt, nickel, and lithium in the use of recycled materials shall not be less than 20%, 12%, and 10%. These requirements in the "New EU Battery Regulation" presents new challenges to the global new energy vehicle industry. In 2019, the Chinese government issued the "Industry Specifications for Comprehensive Utilization of Used Power Batteries for New Energy Vehicles (2019 Version)", which stipulates that the recovery rate of recycled lithium, nickel and cobalt shall not be less than 85%, 98.5% and 98.5%, respectively. In 2016, when the world's new energy industry was still in its infancy, GEM proposed to build a new energy full life-cycle value chain of "recycling of used batteries - raw material remanufacturing - material remanufacturing - battery pack remanufacturing cascade utilization". By promoting the world's new
energy vehicle industry chain from "green manufacturing to manufacturing green," GEM believes that the development bottleneck of new energy is the recovery of the residual value of the power battery life-cycle. This life-cycle residual value includes two components. The first is that once the effective capacity (charge and discharge capacity) of a power battery is reduced (through many cycles of use) to 60%-70% of its original capacity, the battery can no longer meet the functional needs of consumers for new energy vehicles. Such batteries therefore need to be retired from use in EVs. This retired power battery cannot be recycled as waste, but can be downgraded from automotive applications to non-automotive applications such as engineering machinery, energy storage, and twowheeled vehicles. Subsequent practices have proven that this concept of the power battery life-cycle value chain proposed by GEM in 2016 fully fits to conciliate the current practical contradiction of global new energy development. The residual energy value of batteries with 60-70% residual capacity is much greater than the value of being treated as waste. For example, 60-70% of the remaining capacity of a 60 KWh ternary battery pack can be charged and discharged for more than 500 times, and the residual value can be discounted to more than 50% of the original value, which is much higher than the value recycled as waste. The second component is to implement GEM's specialty - resource recovery and ensure the harmless disposal of power batteries that have
completely lost their service functions. This includes the complete recovery of valuable resources such as lithium, nickel, cobalt, manganese, copper, aluminum and phosphorus in power batteries, and undertaking the harmless and environment-friendly disposal of all non-recyclable components, so as to promote the sustainable development of new energy. It has been proven that the development of new energy has resulted in a global shortage of nickel, cobalt and lithium resources, driving a sharp rise in prices of nickel, cobalt and lithium (among others). This situation places severe constraints on the healthy development of the new energy industry. Since 2021, the price of lithium carbonate, the core material for new energy batteries, has risen from 50,000 yuan/ton to more than 500,000 yuan/ton. The price of nickel on the London Stock Exchange once soared to over 100,000 US dollars/ton, representing the most single largest price increase for nickel resources in the history of the London Stock Exchange. "Demon nickel" and "lithium" have become the hottest words in the new energy resources field today. The sharp rise in the prices of nickel, cobalt and lithium resources has severely dampened the enthusiasm for the healthy development of the global new energy industry. Experts expect the price of nickel, cobalt and lithium to eventually return to normal. The recycling of power batteries is, conversely, in the calm eye of the storm. Only by solving the cascade utilization and full recycling of power batteries, can the chaotic rise in the price of nickel, cobalt and lithium be fundamentally suppressed, the sustainable and healthy development of new energy in the world be promoted, and the carbon reduction benefits and green efficiency of new energy be realized. Since 2016, GEM has set up a research and development team and successively invested 1 billion yuan to achieve the non-destructive disassembly technology, rapid detection and sorting technology of power batteries, reassembly technology of power battery packs and modules, recovery technology of lithium-nickel-cobalt resources, and remanufacturing technology of ternary power materials. It has resulted in a new business model for recycling, and completely solved all the key technical and commercial problems of
Only by solving the cascade utilization and full recycling of power batteries, can the chaotic rise in the price of nickel, cobalt and lithium be fundamentally suppressed, the sustainable and healthy development of new energy in the world be promoted, and the carbon reduction benefits and green efficiency of new energy be realized.
recycling, disassembly, cascade utilization of power batteries, utilization and material remanufacturing lithium-nickel-cobalt resources. We have established a core technology system and standard system for the recycling of used batteries, applied for more than 330 core patents in the key technology links of the whole life cycle of power batteries worldwide, and participated in the formulation of more than 70 national / industrial standards in China. The "innovative mode of urban used battery recycling" project successfully won the "Paulson Sustainable Development Award - Green Innovation Category" award in 2020. GEM has built five plants for recycling and dismantling of power batteries, three centers for cascade utilization and three plants for recovery of lithium-nickel-cobalt resources and remanufacturing of ternary power cathode materials in Shenzhen, the core city of the Pearl River Delta, Wuxi, the core city of the Yangtze River Delta (adjacent to Shanghai), Wuhan, the core city of central China, Tianjin, the core city of Beijing Tianjin Hebei (adjacent to Beijing), and Jingmen, the geographical center of China (located 100km from the world-famous Three Gorges Dam). With production capacity reaching 200,000 power battery packs per year, remanufactured power battery packs of 3GWh per year, the total recovery capacity of lithium-nickelcobalt-manganese resources of 50,000 tons per year, and the production capacity of ternary precursor materials of 230,000 tons per year, GEM
has become a world-leading enterprise with complete industrial chain of power battery recycling, cascade utilization and resource comprehensive utilization. In addition, GEM has also established joint ventures for power battery recycling in South Korea and Indonesia. GEM has signed agreements with more than 500 automobile and battery factories around the world to establish cooperative relationships for the targeted recycling of used batteries, and accelerated the implementation of the recycling market strategy of "50% signing and 30% recycling". GEM is also listed as a demonstration enterprise for power battery recycling by the Chinese government. GEM's three power battery recycling plants are listed on a white list of power battery recycling enterprises issued by the Ministry of Industry and Information Technology of China, accounting for 6.4% of the total number of 47 white list enterprises, ranking first in China.
2. Achieving fundamental technologies for the "core" material of ternary power batteries, becoming the primary manufacturing enterprise for ternary "core" materials in the world, and promoting the rapid growth of the company. GEM has been committed to the research and manufacturing of nickel-cobalt new energy materials. Since 2013, GEM has entered the field of new energy material manufacturing from exploiting urban mines through the acquisition of Jiangsu Cobalt Nickel Metal Co., Ltd. Subsequently, GEM began to produce Co3O4 materials used in computer, communication and consumer electronic products (in China, known as "3C products"). The past five years have witnessed significant increases in sales volume of this material. At present, GEM's production comprises more than 16% of the world market - ranking second in the world. Since 2015, GEM was not satisfied with producing only materials for 3C products, thereby setting its
For the industrialization of precursors with a high molar ratio of nickel (for example, 80% or 90%) and single crystal ternary precursor, GEM is a world leader. In 2021, GEM sold 55,000 tons of precursor comprising 80%-90% nickel. This sales volume accounts for more than 60% of total global sales volumes for ternary precursor, comprising over 20% of the world market share.
sights on the global power new energy market. This commenced with the manufacturing of the ternary precursors NCM and NCA for ternary power batteries with the recycling of nickel, cobalt, and manganese. This ternary precursor is known as the "CPU" of ternary power batteries or the "DNA" materials of ternary power batteries, as it largely determines the performance of ternary positive materials and ternary power batteries. The cathode for manufacturing ternary batteries is formed by a NCM/NCA ternary precursor and lithium carbonate or lithium hydroxide through sintering one or more times at high temperature. Since 2016, GEM has commercialized ternary precursors on a global basis. For three years, from 2017 to 2019, GEM has occupied the first position in the global market, accounting for nearly 20% of the global market share. In 2020, affected by the COVID19 pandemic, GEM ranked third in the global market. In 2021, the sales volume of GEM's ternary precursors rebounded to second place in the global market, accounting for 15% of the global market share.
GEM has also been committed to the development of high-end NCM/NCA ternary precursor technologies. For the industrialization of precursors with a high molar ratio of nickel (for example, 80% or 90%) and single crystal ternary precursor, GEM is a world leader. In 2021, GEM sold 55,000 tons of precursor comprising 80%-90% nickel. This sales volume accounts for more than 60% of total global sales volumes for ternary precursor, comprising over 20% of the world market share. Over the past three years, in order to solve the problems limited mileage range and enhanced safety for new energy vehicles, GEM has started to make a technological breakthrough with the newgeneration ternary precursor by researching its use in ternary power batteries with a range of 1000 km at a high level of safety. GEM launched a high-nickel core-shell NCM precursor and an ultra-high-nickel quaternary precursor which have been commercialized in 2022, becoming one of the few companies in the world producing high-nickel coreshell precursors and ultra-high-nickel quaternary precursors. According to GEM's public release, GEM plans to sell 500,000 tons of ternary precursor to the world in 2026. GEM announced that since March 2022, it has signed contracts with ECOPRO, a leading high-nickel ternary material manufacturer in South Korea, Xia Tungsten New Energy materials Co., Ltd and Rongbay Technology – all core ternary cathode material companies. From 2023 to 2026, GEM will supply 1.6 million tons of ternary precursor to these companies, which will be the largest ternary precursor order in the global new energy industry, locking in the market for the next five years. Among those contracts, GEM signed an agreement with ECOPRO to supply 800,000 tons of high-nickel lowcobalt precursor from 2023 to 2026, signed an agreement with Xia Tungsten New Energy to supply 455,000-540,000 tons of new-generation ternary precursor from 2023 to 2027, and signed an agreement with Rongbay Technology to supply 300,000 tons of ternary precursor from 2022 to 2026. Through developing innovative recycling technologies, GEM has completed the brand reconstruction of waste recycling products through "waste recycling products - products to replace raw
ore - products entering the mainstream market world brand products". GEM has established green supply chain partnerships with Umicore, BASF Shanshan, ECOPRO, Samsung SDI, CATL, BYD and other world-famous companies, making waste recycling products the mainstream products for new energy materials in the world. From waste recycling to material reproducing, from green manufacturing to manufacturing green products, GEM profoundly interprets the meaning of "limited resources, unlimited circulation". 3. Developing "urban mines of nickel, cobalt and lithium" to make "the blood of new energy" circulate Nickel, cobalt and lithium are known as "the blood of new energy" or "new energy metal", and are strategic metal resources for the production of new energy power batteries. GEM addresses the great treasure of "urban mines" and actively develops the recycling and reuse technologies for nickel, cobalt and lithium to create a world-leading nickel-cobaltlithium resource recycling industrial chain. At present, GEM is the largest nickel-cobalt-lithium recycling enterprise in the world. GEM recycles more than 5,000 tons of cobalt every year, which is more than twice the original cobalt mining volume in China and accounts for 20% of the global cobalt resource recycling volume. GEM's annual recycling amount of nickel is more than 10,000 tons, accounting for 8% of the original nickel mining volume in China. A production line with an annual recycling capacity of 5,000 tons of lithium carbonate has been built by GEM. In 2026, GEM plans to annually recycle 500 million tons of nickel, 15,000 tons of cobalt, and 20,000 tons of lithium carbonate. Through large-scale recycling of nickel, cobalt and lithium across the world, GEM has been well-serving the strategic needs of global new energy for nickel, cobalt and lithium. 4. Being devoted to the recycling and reuse of Ewaste and promoting the connection of the Chinese E-waste industry with Waste Electronics and Electrical Equipment and Restriction of Hazardous Substances Directives In the past 20 years, as a pioneer and leader in the Chinese E-waste treatment industry, GEM has been
researching green disposal of E-waste since 2005. Having overcome the engineering challenges of recycling of E-waste, waste plastics, waste circuit boards, elaborate sorting and high-value utilization, GEM has developed and procured key technical equipment for full-component recycling, fullelement utilization and in-depth recycling of Ewaste. GEM took the lead in building the first demonstration production line for processing of Ewaste in China, leading the Chinese E-waste treatment industry by fully meeting the requirements of the EU's WEEE and RoHS directives. Up to now, GEM has built 6 advanced large-scale processing centers for E-waste, 3 recycling centers for waste plastic and 1 disposal center for waste circuit boards, forming an industrial chain for the recycling E-waste: recycling and dismantling of Ewaste - reproducing waste plastic - reproducing metal. The annual recycling and processing capacity of E-waste exceeds 10 million units, accounting for over 10% of the total E-waste in China. GEM has therefore become the leading enterprise of comprehensive utilization of E-waste in China. 5. Taking the high-speed rail of green development and embracing the opportunity of high growth and development
Compared with regions such as Europe that have developed earlier, after 40 years of reform and opening up and economic development in China, its transformation from largely industrial civilization to a consumption culture, with cities comprising hundreds of millions of urban consumers, China's cities are now huge resources for "urban mining". It is expected that by 2026, the urban mine business value of major cities in China, such as Ewaste, used cars and batteries, will exceed a market size of 2.1 trillion RMB, with a compound annual growth rate of 89.71%, comprising a huge potential market. As the leading enterprise in urban mining, GEM will continue to maintain its 10% market share, with a projected value of 211.9 billion RMB.
GEM has undertaken a dual-track green business model, driven by "new energy materials and urban mining". As part of the rapid development of global new energy materials and the general trend towards global carbon neutrality, this "double sword" has been developed to illustrate the competitive advantages of the world's leading enterprises. The rapid development trend towards global new energy is unstoppable. The high-capacity ternary power battery plays the leading role, and ternary precursor materials are a significant factor in this emerging market, bringing high-speed growth opportunities for GEM. According to the Sullivan Report, global ternary precursor exports will grow at a compound annual growth rate of 23.5% from 2022 to 2030, and will reach 5.545 million tons in 2030. In the future, ternary batteries will comprise high nickel batteries. The proportion of high nickel
ternary batteries increased from 42% in 2021 to 79% in 2026. By 2026 the global high nickel ternary precursor market will reach 2.21 million tons, and 5.26 million tons by 2030. GEM focuses on high nickel precursors, and the significant market presence in this area will facilitate GEM's industrial expansion plan with sales of 500,000 tons by 2026. Compared with regions such as Europe that have developed earlier, after 40 years of reform and opening up and economic development in China, its transformation from largely industrial civilization to a consumption culture, with cities comprising hundreds of millions of urban consumers, China's cities are now huge resources for "urban mining". It is expected that by 2026, the urban mine business
value of major cities in China, such as E-waste, used cars and batteries, will exceed a market size of 2.1 trillion RMB, with a compound annual growth rate of 89.71%, comprising a huge potential market. As the leading enterprise in urban mining, GEM will continue to maintain its 10% market share, with a projected value of 211.9 billion RMB. (Data Source: Frost & Sullivan). Twenty years of efforts for realizing a green dream, twenty years of world-leading innovative recycling, and twenty years of low-carbon contributions. GEM, long a world leader in many areas of environmental protection, is now commencing a new journey of green development.
In the future, GEM will deeply pursue the strategy of "new energy materials and urban mining," plans to build 100 billion yuan in industrial projects, will consolidate its core position in the world new energy materials market, and plans to reduce carbon dioxide by 1 million tons by 2030, taking the lead as a carbon-neutral enterprise. GEM's ambition is to address global carbon neutrality and greenhouse gas emissions reduction strategies by exploiting urban mines and new energy materials, to create a world leader in green and low-carbon development, and to make a significant contribution to the development of the world's new energy industry and global greenhouse gas emissions reductions.
THE RITZ-CARLTON DEBUTS AN OASIS OF MODERN LUXURY IN MANHATTAN The Newly Constructed Ritz-Carlton New York, NoMad Melds Contemporary Design and Legendary Service with Sky-High Culinary Offerings by Chef José Andrés. The Ritz-Carlton, part of Marriott Bonvoy®'s portfolio of 30 extraordinary hotel brands, has announced the opening of The Ritz-Carlton New York, NoMad, debuting a new oasis of modern luxury in the heart of Manhattan. Soaring 50 stories above the dynamic North of Madison Square Park neighborhood, the newly constructed hotel and residences developed by New York-based Flag
Luxury Group brings the brand's unparalleled service and refined elegance to one of the city's most vibrant and emerging districts. "The Ritz-Carlton New York, NoMad represents a milestone moment in the evolution of The RitzCarlton brand," said Donna McNamara, Vice President and Global Brand Leader for The RitzCarlton. "With an exquisite design that blends the best of the brand and the destination, combined with the finest amenities, culinary offerings, and highly personalized service, The Ritz-Carlton New York, NoMad delivers an experience tailored to
Rising 500 feet above New York's streets, the hotel takes its place within the city skyline as one of the tallest buildings in NoMad, the birthplace of American popular music at Tin Pan Alley and today a nexus of art, entertainment, fashion, and technology. The hotel's 250 guestrooms include 19 suites, with an additional 16 one- and twobedroom penthouse residences.
today's luxury guest. I know that travelers and locals alike will enjoy settling into Nubeluz, our rooftop bar, for spectacular views of the Manhattan skyline." Rising 500 feet above New York's streets, the hotel takes its place within the city skyline as one of the tallest buildings in NoMad, the birthplace of American popular music at Tin Pan Alley and today a nexus of art, entertainment, fashion, and technology. World-renowned design teams, including Rafael Viñoly Architects, Rockwell Group, Lazaro Rosa-Violan Studio, Martin Brudnizki, and SUSSURUS International, deliver a bold, contemporary design that pays homage to the hotel's location in the city's vibrant Flower District. An impressive art collection by art curator, Culture Corps and Founding Partner Yvonne Force Villareal includes local artists Pat Steir, Ross Bleckner, and Donald Baechler. Seasonal floral installations throughout the hotel create a unique experience for guests visiting the blossoming neighborhood. "For our fifth hotel under The Ritz-Carlton brand, we were inspired by the brand's rich history and legacy of unwavering commitment to excellence. We married the genuine refined service that The RitzCarlton is known for with the kitchen of humanitarian and Michelin-starred Chef José Andrés for the next generation of a hotel luxury experience," said Dayssi Olarte de Kanavos, President of Flag Luxury Group. The hotel's 250 guestrooms include 19 suites, with an additional 16 one- and two-bedroom penthouse residences. The guestrooms and public spaces all showcase elegant floral expressions such as natural elements and textures, that reflect the soft curvature of petals alongside sleek accents and lines, which echo New York City's verticality and city grid. Inspired by residential-style living, guestrooms feature bespoke furnishings and a neutral color palette that allow the expansive, light-filled living spaces and stunning city views to take center stage. The 2,100-square-foot Ritz-Carlton Suite, located on the hotel's 37th floor, features breathtaking views of Manhattan, a private wellness room complete with a Peloton® bike, separate living and dining areas, media room and 194-square-foot walk-in closet, and service entrance. All guestrooms include bathroom amenities by Diptyque, featuring the scent Philosykos – an ode to the fig tree.
The hotel's food and beverage partnership is truly unique, with all culinary venues and in-room dining helmed by Michelin-starred chef and global citizen José Andrés. Situated on the ground floor of the hotel, Zaytinya, a play on the Turkish word for olive oil, offers an innovative mezze menu and creative cocktails inspired by Turkish, Greek, and Lebanese cuisines. Designed by Rockwell Group, the 140-seat restaurant is saturated with a palette of bronze metals and white oak wood, with distinctive pops of blue and soft curves to channel the natural beauty of the Mediterranean. An exciting addition to New York's nightlife scene, Nubeluz is located on the hotel's rooftop. It offers sweeping 270 degree views across Manhattan, complemented by an expansive menu of classic and signature cocktails, light bites, and an array of Tablas, where guests can build boards of jamon, queso, and embutidos hailing from Andrés' native Spain. Designed by Martin Brudnizki, the space acts as a glittering jewel box, with interiors that are a modern age reinterpretation of New York's glamorous past, including a combination of reflective surfaces, indulgent textiles, and modern materiality.
Located on the first floor of The Ritz-Carlton New York, NoMad, The Lobby Lounge and Bar is an oasis where guests can enjoy a morning pastry and coffee, afternoon champagne, or nightcap in the evening. The Ritz-Carlton New York, NoMad offers a wide range of thoughtfully curated amenities designed to complement a highly personalized guest experience. Guests staying on the Club Level can enjoy access to the signature Ritz-Carlton Club Lounge, where they can relax or work while experiencing dedicated concierge service and a variety of culinary offerings throughout the day. The hotel also features a 6,800square-foot signature Ritz-Carlton Spa and Fitness Center, including eight treatment rooms as well as separate sauna and steam rooms. Luxury skincare brand Augustinus Bader is bringing its signature facial, The Method, to The Ritz-Carlton Spa, offering a bespoke interpretation with the use of exclusive scents and oils inspired by the New York Flower District. For intimate gatherings, celebrations, or corporate functions, The Ritz-Carlton New York, NoMad also features 10,000 square feet of meeting space, including a vast, private outdoor terrace, with all banquet and catering culinary offerings also overseen by Andrés.
"I am honored to be leading a talented team of Ladies & Gentlemen as we open our doors to guests and locals alike in this everchanging and dynamic community," said Bastian Germer, General Manager of The Ritz-Carlton New York, NoMad. "We are excited to bring Manhattan a quintessential, yet freshly re-imagined, New York experience." For further information and bookings, please visit ritzcarlton.com/nomad
About The Ritz-Carlton Hotel Company, LLC The Ritz-Carlton Hotel Company, LLC currently operates more than 100 hotels in 34 countries and territories. For more information or reservations, visit the company website at www.ritzcarlton.com and to join the live conversation, use #RCMemories and follow along on Facebook, Twitter, and Instagram. The Ritz-Carlton Hotel Company, LLC is a wholly-owned subsidiary of Marriott International, Inc. (NASDAQ: MAR). The Ritz-Carlton is proud to participate in Marriott Bonvoy®, the global travel program from Marriott International. The program offers members an extraordinary portfolio of global brands, exclusive experiences on Marriott Bonvoy Moments and unparalleled benefits, including complimentary nights and Elite status recognition. For further information and bookings, please visit ritzcarlton.com
About Marriott Bonvoy® Marriott Bonvoy's extraordinary portfolio offers renowned hospitality in the most memorable destinations in the world, with 30 brands that are tailored to every type of journey. From The RitzCarlton and St. Regis to W Hotels and more, Marriott Bonvoy has more luxury offerings than any other travel program. Members can earn points for stays at hotels and resorts, including all-inclusive resorts and premium home rentals, and through everyday purchases with co-branded credit cards. Members can redeem their points for experiences including future stays, Marriott Bonvoy Moments, or through partners for luxurious products from Marriott Bonvoy Boutiques. To enroll for free or for more information about Marriott Bonvoy, visit marriottbonvoy.com
THE AGE OF QUANTUM COMPUTING HAS FULLY ARRIVED AND D-WAVE IS A LEADER The world may be on the cusp of a new generation of computing. Its name? Quantum computing. Much like its precursors, quantum computing doesn't have a sole inventor or a single brand; it is the collective product of decades of work by many of the brightest minds in science and technology.
Currently real and practical quantum computing applications are helping solve a myriad of business challenges. Hundreds of early quantum applications have been built attempting to address resource scheduling, mobility, logistics, drug-discovery, portfolio optimization and manufacturing processes.
The nascent industry is highly complex employing varied approaches to harness the power of quantum mechanics to solve challenges that classic computers simply cannot handle. A paradigm shift of computing may be coming, and it will have a farreaching impact.
The world's first commercial supplier of quantum computers, D-Wave Systems Inc. ("D-Wave") is a leader in the development and delivery of quantum computing systems, software, and services and is the only company building both annealing quantum computers and gate-model quantum computers.
The nascent industry is highly complex employing varied approaches to harness the power of quantum mechanics to solve challenges that classic computers simply cannot handle. A paradigm shift of computing may be coming, and it will have a far-reaching impact. The world's first commercial supplier of quantum computers, D-Wave Systems Inc. ("D-Wave") is a leader in the development and delivery of quantum computing systems, software, and services and is the only company building both annealing quantum computers and gate-model quantum computers.
D-Wave's customers include more than two dozen of the Forbes Global 2000 companies, including Volkswagen, Accenture, NEC Corporation and Lockheed Martin. Of major interest is that D-Wave is working to complete a business combination transaction (Business Combination) with blank-check company DPCM Capital Inc. (NYSE: XPOA) (DPCM Capital Profile) to bring it public. In geekdom, D-Wave is already a household name, but as a public company, it is expected to gain even greater recognition for its products and services by helping to bring quantum computing into the mainstream. Other companies, such as Microsoft Corporation (NASDAQ: MSFT), Alphabet Inc. (NASDAQ: GOOGL), International Business Machines Corporation (NYSE: IBM) and Honeywell International Inc. (NASDAQ: HON), are also seeking to make significant contributions to quantum computing. D-Wave offers the only commercial end-to-end quantum solution, encompassing hardware, software, real-time quantum cloud service, developer tools and powerful quantum hybrid solvers. The company counts more than two dozen Fortune Global 2000 companies as clients. D-Wave's client roster includes Volkswagen, GlaxoSmithKline, Save-On-Foods, Lockheed Martin and DENSO, among others.
Targeting a Major Market Since the early days of computers, engineers have looked for ways to process calculations more rapidly and how to utilize comprehensive analytics to make prescient decisions. Each new generation of computers, from the early transistors to the microprocessor, has gotten smaller and more powerful, improving on the prior iteration. These advancements have dovetailed with, and supported the emergence of, the worldwide web and the proliferation of smartphones and voice assistants. Just as those technical advancements have become engrained in countless global industries and cultures, quantum computing has the potential to represent the next technological breakthrough. Bringing quantum phenomena, such as superposition and entanglement, into computers to perform computations may sound like science fiction or technology that's still light years away, but it's happening now in real time. Hundreds of early quantum computing applications are emerging today that are seeking to address a litany of business challenges. As it happens, quantum computing's value may be enhanced against the backdrop of supply chain disruptions, inflation, employment strains, ESG (environmental, social, and governance) initiatives and other complexities testing companies' decisions to optimize efficiency in areas like scheduling, logistics, drug discovery, manufacturing and more.
Boston Consulting Group notes that the quantum computing total addressable market (TAM) could reach up to $5 billion in the near term and between $450 and $850 billion by 2040, with combinatorial optimization problems, which are best suited for annealing systems, representing approximately 24% to 26% of the TAM, which translates to $500 million to $1.2 billion in the near term, potentially growing to $112 billion to $212 billion longer term.
Boston Consulting Group notes that the quantum computing total addressable market (TAM) could reach up to $5 billion in the near term and between $450 and $850 billion by 2040, with combinatorial optimization problems, which are best suited for annealing systems, representing approximately 24% to 26% of the TAM, which translates to $500 million to $1.2 billion in the near term, potentially growing to $112 billion to $212 billion longer term. The 20% of this TAM that is expected to be available to quantum hardware, software and service providers such as D-Wave is $100 million to $250 million in the near term, potentially growing to $22 billion to $42 billion longer term. DPCM Capital Inc. Class A (NYSE: XPOA) was formed as a special purpose acquisition (SPAC) company in 2020 with D-Wave Quantum Inc. (DWave Quantum), a wholly owned subsidiary of DPCM Capital and the anticipated parent company of D-Wave and DPCM Capital following the Business Combination, subsequently filing a registration statement on Form S-4 with the U.S. Securities and Exchange Commission (SEC) for the Business Combination. Earlier this month, the SEC declared the Form S-4 effective, setting the stage for a vote by DPCM Capital shareholders on Aug. 2, 2022, to approve the Business Combination, pursuant to which D-Wave and DPCM Capital will become wholly owned subsidiaries of D-Wave Quantum, with the shares of common stock and warrants of D-Wave Quantum to be listed on the NYSE. D-Wave is a proven leader in quantum computing systems, software and services—and the only quantum company building both annealing and gate-model quantum computers. And this is all happening at a time when businesses are beginning to explore quantum computing as a business advantage, a strategic priority and a competitive advantage. Both the annealing and gate-model quantum computers have advantages important for their particular applications. Annealing quantum computers are highly efficient at solving optimization problems. D-Wave has made annealing commercially available today. Gate-based quantum computers are good for applications that include material and quantum simulations by using basic circuit operations (called "gates") and assembling them in any sequence to
build increasingly complex algorithms. However, the programming is extremely complicated, usage comes with a higher learning curve, and the technology is still several years away from commercialization. There is a distinct bifurcation in the strengths of annealing and gate-model, meaning that development of both types is warranted and, in fact, needed. D-Wave is both capitalizing on current demand and ahead of the curve for the future. D-Wave is differentiated from others in the space. The company boasts a robust product portfolio and significant IP portfolio of 200-plus U.S. patents already granted and more than 200 additional issued and pending patents worldwide applicable to both annealing and gate-based quantum computing. D-Wave is the only complete commercial end-to-end quantum solution in an entirely new ecosystem, encompassing hardware, software, real-time quantum cloud service, developer tools and powerful quantum hybrid solvers.
D-Wave is differentiated from others in the space. The company boasts a robust product portfolio and significant IP portfolio of 200-plus U.S. patents already granted and more than 200 additional issued and pending patents worldwide applicable to both annealing and gate-based quantum computing. D-Wave is the only complete commercial end-to-end quantum solution in an entirely new ecosystem.
First to Leap to Real-World Use Understanding the science of quantum computing is obviously not simple for most laypersons. What is easy to understand is that scientists and engineers are increasingly reliant on "supercomputers," which are essentially upsized versions of conventional computers using more CPU and GPU cores. However, simply adding cores doesn't translate into efficiently solving highly complex problems with a very high number of variables. Enter quantum computing, which, as described by D-Wave CEO Alan Baratz in an analyst day presentation earlier this year, uses quantum mechanical effects to: 1) solve exponentially hard problems currently unsolvable by conventional computers (e.g., global weather modeling) and/or 2) solve difficult computational problems faster than they can be solved using classical computers (e.g., operational problems that can help a company reduce costs and increase revenue). D-Wave is a full-stack quantum computing provider pioneering the Quantum Computer as a Service (QCaaS) model. As with the Software as a Service (SaaS) business model, QCaaS is a cloud service that provides customers with access to quantum computing platforms through the internet.
With more than 180 employees, including 36 PhDs, the company has spent 12 years developing its offerings, including Leap, the first and only real-time quantum cloud platform, and Advantage, a 5,000qubit system and D-Wave's fifth-generation quantum computer, as well as many early quantum and quantum hybrid applications, with some moving into production. The company also offers professional services, where it generates revenue from application development, consulting and other services to meet its clients' needs in understanding the power of hybrid quantum applications and reduce the need for classical heuristic problem solving. Real Revenue D-Wave operates a recurring revenue model with its Leap quantum cloud service, which currently generates a significant portion of the company's revenue. Clients use applications that require quantum compute cycles, which they pay D-Wave to access on the Leap platform that encompasses the Advantage system, as well as other quantum hybrid solvers. The company's remaining revenue is derived from professional services where the DWave team helps its customers understand which
applications can most benefit from quantum computing and how to build and implement those quantum hybrid applications. As the only known company with a commercialized quantum annealing service, D-Wave is differentiated by generating commercial revenue versus funding through government research or national institution funding. Significant Delivery
Significant customers recognize and appreciate the benefits of Leap and Advantage, evidenced by DWave's client portfolio. The company boasts more than two dozen Fortune Global 2000 clients, including Volkswagen, GlaxoSmithKline, Save-OnFoods, Lockheed Martin and DENSO, to name just a few. These enterprise customers accounted for 68% of the company's QCaaS revenue in 2021. These leading companies lean on D-Wave, which has built early quantum applications with its customers in diverse areas such as resource scheduling, mobility, logistics, drug discovery, portfolio optimization, manufacturing processes and more. Other uses include protein design, patient clinical trials and machine-learning training models. The company's transformative quantum computing service, Leap, was launched in 2018 to provide access to D-Wave's quantum computer as the company transitioned from government and academic to commercial customers. In 2020, the fifth-generation quantum computer, Advantage, was launched. The impact quantum computing can make in the space is exemplified by the fact that an earlier DWave system (the 2000Q) was able to perform the magnetic materials phase translation computation known as the Kosterlitz/Thouless phase transition (the theory behind it won the Noble Prize in Physics in 2016) three million times faster than it can be performed using the traditional Monte Carlo approach on a classical system, the program of choice for solving the problem. And recently the company introduced an experimental prototype of its sixth-generation quantum computer called Advantage2, available through the Leap service, demonstrating a relentless focus on product development and delivery.
Significant customers recognize and appreciate the benefits of Leap and Advantage, evidenced by D-Wave's client portfolio. The company boasts more than two dozen Fortune Global 2000 clients, including Volkswagen, GlaxoSmithKline, Save-On-Foods, Lockheed Martin and DENSO. Since the annealing quantum computer is a native optimization engine, it appears that D-Wave will own the market for annealing for combinatorial optimization. Going forward, other computational problem solving will be realized in the areas of linear algebra and factorization, and use cases in differential equations, such as materials simulations, will also open up via further development of annealing and the evolution of gate model systems.
Pursuing the TAM Since the annealing quantum computer is a native optimization engine, it appears that D-Wave will own the market for annealing for combinatorial optimization. Going forward, other computational problem solving will be realized in the areas of linear algebra and factorization (i.e., machine learning and cryptography), and use cases in differential equations, such as materials simulations, will also open up via further development of annealing and the evolution of gate model systems. Several companies are taking different approaches and making significant contributions to the field of quantum computing. Based on their public statements:
Microsoft Corporation (NASDAQ: MSFT) is building Azure Quantum, which takes a comprehensive approach to all layers of the computing stack. Microsoft currently has all the building blocks of a topological qubit, a new and unique qubit that will be faster, smaller and more reliable than other qubits. In time, topological qubits are expected to power Microsoft's fully scalable, highly secure, nextgeneration quantum computer. Alphabet Inc. (NASDAQ: GOOGL) recently spun off its quantum technology group Sandbox AQ, an enterprise SaaS company delivering solutions at the nexus of quantum tech and AI. The Google parent is provider of tools dedicated to quantum computing, including Cirq, an open-source framework for programming quantum computers. International Business Machines Corporation (NYSE: IBM) has released its quantum computing roadmap, including plans for four new quantum processors. In its initiatives, IBM has amassed a community of clients and partners comprised of Fortune 500 companies, academic institutions, national labs and startups, along with what it says are 20-plus of the most powerful gate-based quantum systems in the world. Honeywell International Inc. (NASDAQ: HON) has spent more than a decade working on quantum computing to shape the adoption and integration of quantum information systems into the industries it serves. In November 2021, Honeywell's Quantum Solutions and Cambridge Quantum combined to form Quantinuum, a company it touts as "the world's largest integrated quantum computing company." Decades in the making, quantum computing has been a slow journey to fruition, but the sector has picked up steam with the realization that quantum computing has arrived, and the technology has matured to commercialization. A growing number of companies will undoubtedly be considering the solutions that quantum computing offers, problems that are far beyond the capacity of conventional computers.
For more information about D-Wave Systems and DPCM Capital, please visit DPCM Capital Inc
INVESTOR PROFILE - TENARIS WORLD LEADING PIPE MANUFACTURER We are the leading manufacturer of pipes and related services for the world's energy industry and certain other industrial applications. Our manufacturing system integrates steelmaking, pipe rolling and forming, heat treatment, threading and finishing across 16 countries. We also have an R&D network focused on enhancing our product portfolio and improving our production processes.
Through our integrated, worldwide network of seamless and welded manufacturing facilities, service and R&D centers, we work with customers to meet their needs, upholding the highest standards of safety, quality and performance.
Our team, based in more than 30 countries worldwide, is united by a passion for excellence in everything we do.
Manufacturing facilities in 16 countries R&D centers in 3 countries Service and distribution network in 25 countries Annual manufacturing capacity of 9 million tons Annual net sales of $6.5 billion USD 23,000 employees from 88 nationalities $12.7 million USD in community investments
Sustainability As a long-term industrial project, our values are rooted in sustainable principles. Since we opened our first mill in Campana, Argentina in the 1950s, to the start-up of our state-of-the-art mill in Bay City, Texas in 2017, and our more recent expansions, we have grown with the communities where we work and live, giving our employees opportunities for professional development, minimizing our environmental footprint and being a reliable partner for customers. We are committed to developing long-term sustainable business by reducing our environmental footprint within our communities and value chain; working with partners and peers to address the climate change challenge and transition to a carbon neutral economy. We aim to achieve this target by using a higher proportion of recycled steel scrap in the metallic mix, investments to increase energy efficiency, and the use of renewables for part of our energy requirements as well as the development of technologies involving the use of hydrogen and carbon capture. To accelerate the fulfilment of these targets, we are implementing an internal carbon price of USD 80/ton for evaluating investments, and more generally in our operations.
Our mission is to deliver value to our customers through product and process innovation, manufacturing excellence, supply chain integration, technical assistance and customer service, aiming to reduce risk and costs, increase flexibility and improve time-to-market. Wherever we operate, we are committed to safety and minimizing our impact on the environment, providing opportunities for our people, and contributing to the sustainable development of our communities. - Paolo Rocca Tenaris President & CEO
Innovation We push the boundaries of material science and mechanical design to develop products that perform in extreme conditions. For companies moving beyond traditional operations, we lead the industry in advanced metallurgy and steelmaking, coatings and surfaces, non-destructive inspection and nanotechnology. Diversity As a global organization, we embrace diversity in all its forms including culture, gender, creed, race, nationality and generation as a factor that creates value. We believe that understanding diverse points of view and perspectives contribute to the rational solution of problems and the effective accomplishment of goals.
Find out more about Tenaris, visit: tenaris.com
U.S. MONEY RESERVE ON CRYPTO'S $2 TRILLION DOLLAR COLLAPSE Between November 2021 and July 21, 2022, the cryptocurrency market lost almost $2 trillion in market capitalization, according to data from CoinMarketCap. This sharp downward trend continues to fuel concerns about crypto's high volatility and its viability as a financial safe haven. U.S. Money Reserve, America's Gold Authority, offers insight. Cryptocurrency prices have fallen significantly over the last several months. Bitcoin, the most popular cryptocurrency, reached an all-time high of nearly $69,000 in November 2021
Between reaching that all-time high and June 15, 2022, CNBC reported that Bitcoin's price had fallen nearly 70%. As of July 21, 2022, Bitcoin was priced at approximately $23,000. Other cryptocurrencies, such as Ethereum and Dogecoin, have also seen their prices drop in the first half of 2022. One cryptocurrency, Luna, fell all the way to $0 on May 13, 2022, after being worth $100 the previous month. Businesses and consumer portfolios that relied heavily on cryptocurrency were negatively impacted by the collapse.
Several analysts are warning that cryptocurrencies are entering "crypto winter"—a prolonged bear market that could last for years. On July 21, 2022, CNBC reported that "several cryptocurrency industry players" who spoke with the news organization predicted that thousands of digital tokens are "likely to collapse while the number of blockchains in existence will also fall over the coming years." A Barron's article from June 17, 2022, sums up the cryptocurrency market's recent troubles as being "at odds with the prevailing narrative of the past few years, which preached that these digital assets would take the place of [gold] as a haven in turbulent times. It should be clear now that the opposite is true…." While cryptocurrencies have been touted by some as safe-haven assets like gold, their limited history and recent performance may prove otherwise. Those who have allocated significant portions of their portfolios to cryptocurrencies may wish to explore additional alternative assets for their diversification strategies.
Several analysts are warning that cryptocurrencies are entering "crypto winter" — a prolonged bear market that could last for years. While cryptocurrencies have been touted by some as safe-haven assets like gold, their limited history and recent performance may prove otherwise. Those who have allocated significant portions of their portfolios to cryptocurrencies may wish to explore additional alternative assets for their diversification strategies.
Find out more, visit: usmoneyreserve.com
HOW TO TRACE AND RECOVER YOUR STOLEN CRYPTOCURRENCY SecuredIntel1 industry-leading risk management helps cryptocurrencies and blockchain protocols scale sustainably. The amount defrauded in the crypto space has grown to more than $12 Billion and despite global efforts, 68% of cases have gone unsolved. Well prepared and verifiable evidence makes it far easier to gain effective action to recover your cryptocurrency. How can the difference in outcomes be so vast? Assets like Bitcoin, Ethereum and cryptocurrency in
general, before treated as ‘anonymous’ and ‘high risk’, are now at the front line of advancement in anti-money laundering technology – usurping traditional finance at a fraction of the cost. And some have woken up. In light of this sea change, read about the kind of battles in technology typical cases present – and how SecuredIntel1 operation traces stolen crypto and recover it. Adrian Gonzalez the leader in crypto assets litigation and recovery in the US and a member of its Board CFE in the United States to further aid defrauded investors in recovering their
wrongfully-taken cryptocurrency. This is another big step in this pioneering area after successful launch SecuredIntel1 ReclaimCrypto service. SecuredIntel1 continues to look for and work with companies and individuals who expose fraud, regulatory breaches, and wrongdoing. SecuredIntel1 deems Adrian Gonzalez reputation as a forerunner in the space as paramount to be strengthened for the benefit of creating a safer blockchain economy. There are millions of victims of crypto-related crime that need our help, and I know that with Adrian Gonzalez experience, we can further expose bad actors.” Adrian Gonzalez will continue to work closely with SecuredIntel1 ReclaimCrypto service holding crypto fraudsters accountable, locating stolen funds and recover it for the victims of fraud, and generally increasing the safety for participants in the fastgrowing cryptocurrency world. Misappropriated cryptocurrency funds related to hacks, scams, ransoms, drug and human trafficking and all other types of illicit and criminal activities tend to be passed through complex layering/mixing schemes aimed to conceal the trail of funds. Afterwards, large and sophisticated hacking and scam operations typically pass funds through a deliberately designed chain of hundreds or thousands of ‘layering’ transactions – similar to traditional finance money laundering methods. But despite the sophistication of the schemes’ route, the blockchain ledger can be tracked and recover cryptocurrency. The Blockchain System Counters Crypto fraudsters and those in blockchain-driven compliance are forever in a technological arms race, but SecuredIntel1 is always a step ahead of the nefarious actors. Fraud investigation engines often encompass several automatic analytical techniques allowing investigators to overcome even very complex layering schemes. The basic typology distinguishes three types of examinations – the destination of funds, source of funds and fingerprints of activity.
SecuredIntel1 unique fraud investigation methodology uses multiple different tracing methods for the same investigation. This includes those widely adopted in bankruptcy law, such as first-in, first-out (FIFO), last-in, first-out (LIFO), pro-rata distribution (Proportional Distribution), lower intermediate balance rule (LIBR), with an additional comprehensive set of proprietary methods enhanced for the specifics of blockchain.
Destination of funds is aimed to identify blockchain addresses that hold or received funds originating from misappropriated wallets, as well as evidencing transaction paths (chains of consecutive transactions) between them. Contrarily, the source of funds is designed to identify addresses that send funds to blockchain addresses related to criminal activity. The purpose of fingerprints of activity is to identify accounts of known blockchain services and methods used by the perpetrators. The aforementioned examinations are supported with numerous engine data mining techniques such as ownership analysis, clustering and e-discovery. A Holistic Approach to Tracing Stolen Funds SecuredIntel1 unique fraud investigation methodology uses multiple different tracing methods for the same investigation. This includes those widely adopted in bankruptcy law, such as first-in, first-out (FIFO), last-in, first-out (LIFO), prorata distribution (Proportional Distribution), lower intermediate balance rule (LIBR), with an additional comprehensive set of proprietary methods enhanced for the specifics of blockchain.
We take this holistic approach because courts tend to have different preferences when it comes to tracing methodologies. For example, pro-rata distribution may be preferred in cases of Ponzi schemes where multiple, similarly situated victims are being paid with other victims’ deposits. Well prepared, verifiable evidence of tracing analysis and impartial interpretation, such as multiple methods presenting similar findings, makes it far easier (and less costly) when it comes to decisions. Investigations Solutions What can we do for you? SecuredIntel1 has built a real-time blockchain analytics and asset tracking technology that has proved as the key enabler of many successful investigations. Our team of blockchain forensic experts helps legal offices, and corporate entities to conduct end-to-end crypto investigations. Blockchain Forensic Analyses and Reports Our dedicated team of blockchain investigators, forensic accountants and blockchain technology professionals help organizations to respond immediately to instances of fraud and crime, using the world’s fastest crypto-asset tracing technology. Ongoing Support of Blockchain Forensic Professionals Fraud and crime cases tend to be dynamic, and our experts and technology are ready to act on new facts on the go until the investigation is fully resolved. We will help the counsel to navigate unexpected changes during the trial. Witness Expert Opinions and Testimonies We explain the most complex blockchain analytics in a way that can be understood by an individual or even your CEO. We have experience in providing the most credible blockchain analytics evidence and testimonies in the loudest crypto scandals. Providing Counsel with a Case Evaluation Not every case is worthwhile to pursue, or not at all stages. Please contact our experts Adrian Gonzalez before engaging in heavy expenses. Our experts will help to estimate the value and risk of the case at each stage of investigation and identify assets that may have been unknowingly omitted from the scope.
Assisting in the Overall Planning Strategy for the Case Blockchain analytics must reconcile with the traditional elements of investigations, litigation or asset recovery strategy for the case. Our team has experience in both blockchain and traditional investigations and is ready to optimize your strategy. The chance of recovery of stolen crypto is 100x more effective if traced live and the recipient notified immediately.” SecuredIntel1 has shown leadership in data quality and coin market coverage that in combination with our capabilities we can now provide the market with a new confidence to investigate, analyze, and pursue suspicious activity involving cryptocurrencies and recover your funds.” For more information, visit: securedintel1.com
LIFE SCIENCES AND HEALTH SCIENCES
TORONTO Annual r&d spend
$1 Billion USD
WORLD'S FIRST PURE SOLID-STATE BATTERIES GIGAFACTORY WILL BE IN SWITZERLAND World's first Gigafactory for pure solid-state batteries established in Switzerland.
of environmental performance than conventional lithium-ion batteries.
Switzerland is a leader in innovation and technology.
Energy transition and security of supply are two sides of the same coin - in Switzerland as well as globally. Renewable energies are the key, and electricity storage is a central prerequisite for this. With an initial production of 1.2 GWh, SCB AG will serve both the Swiss domestic market and the international market with sustainable battery storage systems from 2024.
Solid-state batteries are regarded as the successor technology to conventional lithium-ion batteries. Intensive research is being carried out worldwide and Switzerland is now the first country to go into series production with this technology. The solid-state battery from SCB AG is extremely durable, non-combustible and 50% better in terms
The company was founded in March 2022. The CEO
is Roland Jung, CFO Peter Koch, COO Thomas Lützenrath. The company is based in the canton of Thurgau, Frauenfeld in eastern Switzerland. A production facility is gradually being built: in the order of 1.2 GWH with a planned turnover of CHF 318 million, an investment volume of CHF 246 million, 181 employees and an enterprise value of CHF 1.3 billion. In the final phase, SCB AG is to produce 7.6 GWH, with an investment of CHF 775 million, a turnover of approx. CHF 2 billion and 1061 employees. The enterprise value will then be CHF 8.6 billion, with a conservative multiple of 18. An IPO is planned for October 2022. Feverish research is being carried out worldwide to replace the conventional lithium-ion batteries with the solid-state battery as the new basic technology. Lithium-ion batteries have disadvantages: The service life is limited. And, they continuously lose power when charging and discharging. It decreases the more a battery is “stressed”, i.e. used. They are also flammable and have a poor environmental balance. Critical raw materials are used, such as cobalt. The solid-state battery produced by SCB lasts almost indefinitely, maintains an almost constant performance and is 50% better in terms of the environmental balance than conventional LI batteries. Furthermore, it is non-flammable and therefore safe and does not contain any critical raw materials such as cobalt. You can find a detailed performance description of the solid-state battery at the developer: HighPerformanceBattery.ch As a production company, SCB AG has acquired the license from the development company HPB AG, also in Eastern Switzerland and based in Teufen, to produce the batteries. The predecessor technology of the solid -state battery - still on a liquid basis - has already performed more than 50,000 charging cycles in a battery storage system for buffering the power grid in practical use in the USA . This liquid predecessor technology was already produced industrially.
Energy transition and security of supply are two sides of the same coin - in Switzerland as well as globally. Renewable energies are the key, and electricity storage is a central prerequisite for this. With an initial production of 1.2 GWh, SCB AG will serve both the Swiss domestic market and the international market with sustainable battery storage systems from 2024. Feverish research is being carried out worldwide to replace the conventional lithium-ion batteries with the solid-state battery as the new basic technology.
For more information, visit: swisscleanbattery.ch
FLORIDA AND TEXAS LEAD IN USA INNOVATION AND ENTREPRENEURSHIP Florida and Texas Overtake Washington for the Top Spots, California Falls out of the Top 10. Idaho, West Virginia and Oregon See Improvement in the DII US Rankings. The Draper Hero Index (DHI) announces the commencement of quarterly review executive summaries to its United States Draper Innovation Index (DII US), which evaluates each state's environment for innovation and entrepreneurship. The DII US now includes Dun & Bradstreet (DNB) data, the leading provider of location-based business data and analytical tools.
"While the real estate mantra is 'location, location, location,' the innovation mantra is 'trust, trust, trust,' where states with the most freedom and human trust allow for the most innovation, and those with the strictest regulations smother innovation. Regulation kills innovation, while trust allows innovation to flourish. The DII US is the best, most up to date map of the current American economic, regulatory and entrepreneurship landscape and will become even more important as Bitcoin, Blockchain and other emerging technologies continue to transform and drive the economy forward," said Tim Draper, founder of the Draper Hero Institute.
Draper Hero Institute Founded by legendary Silicon Valley venture capitalist and entrepreneur Timothy C. Draper, Draper Hero Institute (DHI) provides applicable and modern resources for future entrepreneurs globally and ensures inclusiveness and opportunities for all. As an actionbased research institution, DHI focuses its efforts on non-traditional pathways to guide future entrepreneurs in the new economy. Through programs that ignite innovative research; united through connectivity and networking; and mentoring efforts through applied education, DHI provides a portal for creative thinking and ultimately driving change to better prepare future entrepreneurs to take on heroic endeavors.
The DII US Top 10 States saw significant movement between January and May 2022, especially at the top, with Florida and Texas leapfrogging Washington for the Top 2 spots; they were buoyed by their performance in both the OBHI and SBHI metrics as well as considerable improvements in overall capital investments and in cryptocurrency/blockchainrelated sectors and businesses. California fell out of the overall DII US Top Ten and was surpassed by Massachusetts as the nation's #1 tech innovation environment. The table below highlights the change in ranks for the Top 10 countries in the DII-US from January 2022 to May 2022: Virginia and Alaska rounded out the Top 10 ranks and pushed California out of the top 10, where it had been in early 2022 due to its overall performance and cryptocurrency and blockchain investments. California's fall was due to softness in its OBHI and SBHI rankings. Other movements in the Top 10 included South Dakota and Wyoming trading 4th and 5th places while Massachusetts, Utah and Colorado remained steady at 6th, 7th, and 8th. Idaho saw by far the most significant jump in the rankings overall, increasing by eight (8) places from January 2022 to May 2022; Indiana, Ohio, Oregon, South Carolina, Virginia, West Virginia, and Wisconsin all rose by two ranks during the same time period. Idaho's dramatic improvement stemmed from relative strengths in its Overall Business Health Index (OBHI) and Small Business Health Index (SBHI) as well as considerable improvements in both overall capital investments and investments into cryptocurrency/blockchain.
Maryland's decline was largely attributable to comparative weakness in overall capital and cryptocurrency/blockchain investments as well as poor performance on the OBHI and SBHI. North Dakota has yet to register any cryptocurrency/blockchain investments for the year suggesting it will continue to underperform when compared against more innovative states. In Vermont, cryptocurrency/blockchain investments began to slow in the latter half of the quarter, dragging down the state's overall ranking. Despite California being home to some of the nation's most successful tech companies, traditionally the nation's tech leader – and the destination for more venture capital funding and Bitcoin/blockchain investment than any other state – dropped to 11th in the overall rankings, primarily due to its performance on the Small Business Policy Environment and Tax Environment sub-indices. It has consistently finished at or near the bottom of these indices since the first publication of the DII US. Additionally, Massachusetts surpassed the state in DII's Tech Environment scenario. "High cost of living states, in addition to relatively unfriendly small business and tax policies and regulations, could create significant economic repercussions in the long term," Dr. Wallace Walrod, DHI's Chief Economic Advisor. "Non-traditional tech powers such as Wyoming, South Dakota and Utah, on the other hand, are leveraging small business policy and in some cases cryptocurrency policy as powerful ways to attract new entrepreneurs and investors."
3D-PRINTING HALVES PRODUCTION TIME FOR ROCKET PROPULSION COMPONENTS Ursa Major's Advanced Manufacturing Lab in Youngstown, Ohio Cuts Time to Produce Rocket Engine Components from 6 Months to 1 Month. Ursa Major, America's only privately funded company that focuses solely on rocket propulsion, delivered its first copper-based 3D-printed rocket engine combustion chambers out of its additive manufacturing (3D-printing) lab in Youngstown, Ohio, compressing the production and delivery cycle to one month, compared to a minimum of six months using traditional manufacturing processes. These advanced copper alloy-based components will
be tested for applications.
"Speed is of the essence when it comes to producing rocket engines right now because lack of propulsion is causing a significant bottleneck in U.S. access to space and hypersonics testing," said Joe Laurienti, founder and CEO of Ursa Major. "The Ursa Major facility in Youngstown is playing a pivotal role in accelerating our customers' time to market in both commercial and government sectors." The Ursa Major Advanced Manufacturing Lab began
in October of 2021, with $3 million in federal financial support from U.S. Rep. Tim Ryan and Department of Defense-backed manufacturing innovation institute America Makes. The Lab's charter is to develop and test additive manufacturing (3D printing) processes and materials for Ursa Major's rocket engines, used for both space launch and hypersonic applications. "Ursa Major's goal to help establish the U.S. as a global supplier of rocket propulsion is in line with our efforts to foster domestic innovation and manufacturing across industries in Ohio," said Rep. Tim Ryan. "I'm pleased that Youngstown is home to this state-of-the-art facility that will ultimately help the U.S. regain its leadership in space and hypersonic technologies." The Youngstown-based facility is equipped with an EOS large-format laser powder bed fusion 3D printer designed to make on-demand components for Ursa Major rocket engines. It is located in the Youngstown Business Incubator, an internationally recognized program focused on the development of software and additive manufacturing companies in the region. "This type of advanced additive manufacturing is a great example of the kind of American innovation that America Makes seeks to support," said John Wilczynski, Executive Director of America Makes. "Successful projects like this are part of a resurgence in American manufacturing that helps strengthen our domestic supply chain." The existing supply chain for high temperature metal alloy components is limited, and it can take months to turn around a needed revision. The Advanced Manufacturing Lab accelerates the engine development process, allowing Ursa Major to rapidly iterate on design adjustments in-house to improve engine performance and reliability. The Advanced Manufacturing Lab was critical to rapidly redesigning Ursa Major's "Ripley" from a 35,000 to 50,000-pound thrust engine in order to meet market demand. The technical lessons learned from Ripley and the methods and materials produced in this facility are now contributing to the development and testing of their two other rocket engine programs – the "Hadley," a 5,000-pound thrust, oxygen-rich staged combustion engine used in small launch and hyper-
3D printing allows Ursa Major to speed up engine production and apply improvements gleaned from testing in real time, lowering costs. Ursa Major's rocket engines are more than 80 percent 3D-printed by mass and primarily built and tested in its Berthoud, Colorado headquarters.
sonics, and the recently announced 200,000-pound thrust "Arroway" designed for medium and heavy launch. 3D printing allows Ursa Major to speed up engine production and apply improvements gleaned from testing in real time, lowering costs. Ursa Major's rocket engines are more than 80 percent 3D-printed by mass and primarily built and tested in its Berthoud, Colorado headquarters. Ursa Major's flexible rocket engines can be used for a range of missions, from air launch to hypersonic flight to on-orbit missions with many restarts. The company's customers get to launch many years faster and without the development cost of building engines in-house. Ursa Major has built and tested more than 50 staged-combustion rocket engines to date and plans to deliver 30 customers by year's end. To date, Ursa Major engines have accumulated more than 36,000 seconds of run-time, far more than a typical engine is tested prior to first flight. Ursa Major is America's only privately funded company that focuses solely on rocket propulsion, bringing high-performance, staged combustion engines to market for space launch and hypersonic applications. Ursa Major customers, ranging from "New Space" startups to enterprise-level aerospace leaders and the U.S. government, get to flight faster, more reliably, and cost-effectively. The company employs the most sought-after engineers from top space programs and universities and is backed by world-class investors including XN and Explorer 1 Fund. Headquartered in Berthoud, Colorado, Ursa Major was named one of the best places to work by Built in Colorado two years in a row. For more information, visit ursamajor.com
SPOTLIGHT - KARMA AUTOMOTIVE DEFINING LUXURY ELECTRIC VEHICLES Karma Automotive, founded in 2014, is a southern California based producer of luxury electric vehicles. Headquartered in Irvine, California with a production facility located in Moreno Valley, Karma sells cars via its dealer network in North America, Europe, South America and the Middle East. Karma’s Innovation and Customization Center, which opened in 2017 offers world-class engineering, design, customization, and manufacturing services along with electrification platforms.
Karma Launched its Revero® and Revero® GT in 2017 and 2019. Both vehicles were named Green Car Journal’s Luxury Green Car of the Year™ award. In 2021 Karma announced the GS-6 Series which was honored with Green Car Journal’s 2022 Green Car Product of Excellence™ award. Karma GS-6 is an electric vehicle powered by dual electric motors that embodies Karma’s goal of offering leading technology with a luxury experience. Every Karma vehicle is created with unparalleled individual care and craftsmanship.
All GS-6 models benefit from the exclusive design and craftsmanship that Karma Automotive is known for, while offering high-tech customization that allows every Karma to be personal and special to its owner. These GS-6 sedans pay homage to the state of California, where Karma’s vehicles are designed and produced. The customized vehicles highlight Karma’s new brand positioning and pricing model – one that will provide personalized vehicle options as the company expands its lineup. The combination of stimulating design, confidenceinspiring driving and technology, an aggressivelypriced manufacturer’s suggested retail price, makes the GS-6 extended range electric vehicle a formidable competitor in the “new luxury” sedan segment.
“Our brand promise at Karma has always been to provide high-end luxury vehicles and technologies that are driven by innovation and inspire our drivers’ ambitions with new and unique offerings. As we look to the future, we believe we will change the world of mobility by making luxury electric vehicles more accessible.” - Dr. Lance Zhou, PhD, Karma’s CEO
For more information, visit: karmaautomotive.com
HELIOS - SPACE TECH STARTUP PIONEERS CARBON FREE IRON PRODUCTION Helios Secures $6M in Seed Funding, on the path to develop onsite resources for the Moon, their scientists stumble across novel approach to green iron production – at 20% lower cost.
Current methods of steel production emit large quantities of CO2 through the reduction of iron ore with carbon. For every ton of steel, approximately 2 tons of CO2 are emitted, making the industry responsible for 8% of humanity's carbon footprint.
Helios has announced that its ambition to create an emission-free future for the steel industry will be fuelled by $6M in capital, due to a seed round led by At One Ventures, the "net positive to nature" investment firm, and Doral Energy-Tech Ventures. Deep tech investor Metaplanet and a global Top 5 mining company are also participating in this round.
Additionally, the U.S. steel industry relies on natural gas and coal coke and breeze for fuel, accounting for roughly 6% of total energy consumed by manufacturing. Yet efforts to decarbonize the industry through methods like H2 injection, carbon capture, and elec-
The cost of launching the required materials to set the first lunar base is currently unfeasible, only utilizing resources on-site can enable this endeavor. HELIOS is developing a reactor that can process lunar soil and Martian soil to oxygen and metals. Our solution is unique as its output yields two highly crucial materials at the same time, and it does not require earth-brought consumables. The reactor will operate independently from Earth.
-trolysis will increase the cost of production, making adoption by major manufacturers difficult to justify. "The steel industry is extremely cost-sensitive," explains Prof. Raúl Topolevsky, a senior advisor to steel makers and an industry expert. "Many companies are now committing to reducing emissions with targets to achieve carbon neutrality across all operations by a certain date. But 'green steel' often comes at a premium price, and if their costs increase, it negatively affects the entire economy." Helios, led by founder and CEO Jonathan Geifman, did not set out to make green steel at a lower cost. The company's original goal – and still is, to produce oxygen to sustain recurring missions to the moon by producing it on site. Their proprietary technology extracts oxygen from lunar regolith, the mixture of powdery dust and broken rock on the surface of the moon. "On the moon we don't have the luxury of using carbon for energy, you have to be extremely efficient and cannot waste or emit anything," said Geifman. "The extraterrestrial environment really pushes your R&D to the extreme. You cannot be iterative and must reinvent processes entirely. That is how we came up with this completely novel method of extraction that we soon realized would be beneficial for life on earth as well." "It's fascinating to me that while Helios was focused on creating technologies to further sustainable Moon missions and habitation – literally taking its '
moonshot' – they stumbled across this brand-new process to benefit life on earth," said Uri Oron, Director of the Israel Space Agency at the Ministry of Innovation, Science and Technology. "This is a great example of the close connection between space technology and its impact on our lives here on Earth," he added. Helios scientists discovered that the technology created for the reactor built to extract oxygen and iron from regolith could also be used to extract 99% pure iron from iron ore, using an entirely novel chemical process. The method requires 50% less energy than what is currently used in the industry, while operating at temperatures so low that a household oven will suffice to initiate the process. Unlike other green steel technologies, Helios does not require steelmakers to dramatically alter their existing processes. The company is designing a module that can be integrated into Direct Reduction of Iron (DRI) furnaces. This approach will reduce cost and facilitate faster adoption. "Given the frictionless integration approach and superior unit economics compared to conventional iron reduction approaches, we saw potential in Helios to impact steelmaking and decarbonize the industry faster than incumbent technologies," said Laurie Menoud, Partner, At One Ventures. "We believe they will accomplish their master goal of enabling sustainable human life in space, but in the meantime, they are enabling sustainable human life here on earth."
Helios will leverage the new funding to demonstrate its technology on a larger scale, comparable to industry norms. Additionally, it will begin commercial agreements to build pilot plants globally, with the capacity to produce multiple tons of iron per day, as well as enhancing integration of its technology into the chain of production.
About At One Ventures At One Ventures invests in deep-tech start-ups catalyzing a world where humanity is a net positive to nature. The firm is highly technical and was founded by Tom Chi, former Head of Experience and founding member at Google X. At One Ventures finds, funds, and grows companies that are using disruptive deep tech to upend the unit economics of established industries while dramatically reducing their planetary footprint. For more information, visit: atoneventures.com
About Helios Helios is developing technologies to extract metals and oxygen from the martian and lunar soil, providing essential materials for space missions. In-situ resource utilization (ISRU) – collecting, producing and storing materials on site – is the only way to realize the vision of sustainable human life on the Moon and Mars. Why? Because the cost of transporting equipment and materials like oxygen into space for use on extra-terrestrial bases is extremely high. Helios technology makes it possible to instead use the vast amount of oxygen and metals available in the surface soil of Mars and the Moon. The oxygen will be stored and serve as a fuel oxidizer, and the metals will be used to construct the infrastructure for future lunar-martian bases. For more information, visit: project-helios.space PAGE 163
INNOVATION SPOTLIGHT - FLYING WHALES A TRAILBLAZING SOLUTION FOR AIR CARGO FLYING WHALES is an exciting French company headquartered in Suresnes (Hauts-de-Seine). Created in 2012, the company is developing an ambitious and unique program thanks to its innovations and the quality of its teams and industrial consortium : the LCA60T, a rigid airship for heavy load transport with a carrying capacity of 60 tons. Originally designed to meet the needs of logging renewable wood resources in hard to reach areas, the LCA60T's unique hovering loading and unloading
characteristics will provide solutions to numerous logistical and landlocked problems around the world, with a very low environmental footprint. This solution will allow, at low cost, to free itself from all ground constraints for the point-to-point transport of heavy or bulky loads. FLYING WHALES is also developing FLYING WHALES SERVICES, the operating company for the LCA60T. The FLYING WHALES airships will transport cargo from point to point without any infrastructure and load and unload goods while hovering in the air.
With a hybrid, and eventually fully electric (via hydrogen fuel cells) propulsion system and a very large payload capacity in terms of both tonnage and volume, the LCA60T have very limited environmental footprint. The future airships produced by Flying Whales will be the very first airships equipped with fuel cells. A revolution for our world’s sustainability The LCA60T is a game-changer towards environmental challenges. It definitely reduces ground footprint (no infrastructures in operation) and emissions (low -soon 0-emissions thanks to hybrid and soon fully-electric propulsion). Focused on safety Airworthiness authority’s certifications combined with intrinsic characteristics (safe lifting gas, rigid structure, powerful propulsion) provide the LCA60T a maximum level of safety. An utmost adaptability Unlimited access to isolated areas thanks to its point-to-point 60 tonnes capacity hovering.
Wood Sustainable construction calls for an increase of wood supply, at low cost and minimizing the impact on biodiversity. Humanitarian aid & disaster relief Given that the logistics of humanitarian aid often constitute a real challenge, LCA60T can help optimize operations for important volumes. Recently completed third round of fundraising FLYING WHALES has welcomed funding from the French government as a part of its France 2030 program. This 122 million euro-round of financing, which was also carried out with historical shareholders including the Quebec government, via Investissement Québec, will enable the company to finalize its aeronautics program. Two of FLYING WHALES' current strategic shareholders, ALIAD (Air Liquide's venture capital fund) and ADP Group, also participated, along with Société Générale and several private investors. For more information, visit: flying-whales.com
Cost savings Low operating costs and gets rid of infrastructures and transhipment expenses. A trailblazing solution for point-to-point air cargo transportation. For the first time in history, an aircraft, the LCA60T, will load and unload up to 60 tonnes of heavy or bulky loads in hover flight. Power As the market for renewable power rapidly expands, an industry-wide need is emerging for cost-effective and sustainable transport to difficult-to-access locations. Construction Civil engineering and construction groups face huge challenges for sustainable special cargo transport in dense or remote areas. Industry Heavy industries are looking for innovative, affordable and sustainable ways to transport heavy and bulky loads.
KPMG LISTS 10 PREDICTIONS FOR GLOBAL TALENT MOBILITY Over the next few years, Human Resources professionals, including those involved in global talent mobility roles, must carefully consider what the area's priorities are, how risks will be mitigated, and how to better structure service teams. It is also important to pay attention to trends related to the international mobility of talent as a whole. Many organizations are becoming leaner, more digital, inclusive and predictive. In addition, talent mobility is advancing along with new models of remote work.
These findings are in the "Policies and Practices Relating to Global Mobility of People" survey conducted by KPMG with more than 375 multinational organizations in more than 25 countries and territories. The content also highlighted that, with the current uncertainties, it can be difficult to know how new requirements are influencing this market. According to KPMG research, there predictions about global talent mobility:
1- "Work from anywhere" is here to stay 2- Talent mobility is expected to recover with different international transfer models 3- Global talent mobility teams must integrate ESG objectives and practices 4- "Virtual assignments" can last longer that the pandemic 5- Compliance and governance will demand more attention 6- Technological advances will continue to reshape international mobility processes 7- Focus on data analytics should generate better reporting and more predictive perspectives 8- Global mobility teams will integrate diversity, equity and inclusion 9- Global mobility and talent management will work more together 10- Managed services must be more vital in global mobility The KPMG survey also showed that supporting business and controlling costs are top priorities for global mobility leaders. The other conclusions of the research are indicated below:
Many organizations are becoming leaner, more digital, inclusive and predictive. In addition, talent mobility is advancing along with new models of remote work. KPMG has shared value and inspired trust in the capital markets and communities for over 100 years, transforming people and companies and generating positive impacts that contribute to the realization of sustainable changes in our customers, governments and civil society.
- Flexibility in policy approach: organizations continue to offer more flexibility in talent mobility policies - Integration between global talent mobility and management roles: 93% rated supporting overall business objectives and developing talent as top goals of the program - Technology leads the way: Organizations are looking for fully integrated sources that span the full spectrum of mobility with technology solutions - Focus on talent, not transactions: Respondents highlighted the relevance of outsourcing some of the operational work KPMG is a global organization of independent firms that provide professional services in the areas of Audit, Tax and Advisory. We are present in 146 countries and territories and in fiscal 2020 the total number of professionals working in member firms worldwide was approximately 227,000. Each firm is an independent and separate legal entity and describes itself as such. Guided by its purpose of empowering change, KPMG has become a reference company in the segment in which it operates. For more information, visit: home.kpmg
A GUIDE BOOK FOR FOREIGN INVESTORS ABOUT DOING BUSINESS IN ITALY Italy has a large consumer base and a higher-thanaverage development rate and expertise, yet cultural traits, red tape and also unique production procedures. Because of this, foreign companies operating in Italy need the assistance of experts who know the area well and who can help them structure their administrative procedures accordingly. To help entrepreneurs, investors, and professionals worldwide find their way around the institutional business relations with Italy, Italian public relations expert Carmelo Cutuli has written the guidebook "How to Manage Business Relations with Italy."
The book is now available in paperback, e-Book, and audiobook editions on primary international online stores. In this guidebook, institutional references that can help you create your organization's associations with Italy are referenced in a readily accessible manner, making it easy to open business connections to the country. Each government agency or trade association listed here is usually open to being contacted from abroad by investors or companies willing to do business with Italy, offering their support.
With its strategic position between Europe and the Mediterranean Sea and its modern and competitive economy, Italy is seen as an ideal country to expand a business from abroad. However, foreign companies wishing to capitalize on these advantages must be prepared to deal with a complicated regulatory environment that can lack the transparency, clarity, and efficiency offered by other advanced world economies. This handbook, in short, represents a reference guide for the entrepreneur interested in getting an idea of the Italian business panorama and for those who already operate in Italy from abroad to better understand the role of the main stakeholders. The book also reminds the readers about the importance of considering Italian business culture if you plan to operate in Italy. Business culture is centered on personal relationships. Building a relationship with your Italian counterparts is key to success in any negotiation. This handbook, in short, can function as a valuable guide to the foreign investors who wish to know more about the Italian business landscape and for those who already operate in Italy from abroad to become familiar with the role of significant stakeholders. Buy the book on Amazon
With its strategic position between Europe and the Mediterranean Sea and its modern and competitive economy, Italy is seen as an ideal country to expand a business from abroad. However, foreign companies wishing to capitalize on these advantages must be prepared to deal with a complicated regulatory environment that can lack the transparency, clarity, and efficiency offered by other advanced world economies. PAGE 169
CROWNE PLAZA - PRESSURE IS ON EMPLOYERS TO ADOPT FLEXIBLE WORKING CONDITIONS AND BLENDED TRAVEL
Crowne Plaza Hotels & Resorts launches new study on blended travel, accelerating plans to build 107 hotels in the next three years and renovate 50 percent of its existing estate globally. As competition for talent intensifies, a new study from Crowne Plaza Hotels & Resorts reveals that Millennial (65%) and Gen Z (59%) consumers are more inclined to work for a company that offers frequent travel or flexible (work + leisure) travel possibilities as a perk.
Today's consumer (54%) believes flexibility in working hours is just as important as a high salary (56%) or a four-day work week (36%). The brand's 'Blended Travel' white paper says that four in five business executives worry that, unless they increase travel, their professional (80%) and personal lives (80%) will suffer. With the conclusion of the first peak travel season since the beginning of the pandemic, a new survey commissioned by Crowne Plaza Hotels & Resorts part of IHG Hotels & Resorts and one of the world's
largest premium hotel brands - which polled over 1,200 US consumers, reveals Millennials (25 to 44 years old) (65%) and Gen Z (18 to 24 years old) (59%) consumers are more inclined to work for a company that offers frequent travel or flexible (work + leisure) blended travel possibilities as a perk. As many US businesses struggle to find and retain workers, employees are in a stronger bargaining position. Employers looking to retain or attract talent must act to harness this increased desire for blended travel as, despite the cost-of-living crisis, YouGov research reveals that today's consumer views flexibility in working hours as equal importance when choosing where to work (54%), to high salary (56%). The evolution of remote work, as a result of the pandemic, combined with the renewed ability to connect in person is adding to this trend and speeding up Crowne Plaza's plans for further hotel openings to keep up with demand. The brand looks to extend its stronghold, building 107 new hotels (27,342 rooms) in the next three years alongside renovating 50% of its existing portfolio consisting of over 400 hotels. Of those surveyed by YouGov, 31% believe that combining work travel and leisure would allow them to progress further in their career and also 39% said that it would increase their happiness levels. Meanwhile, the brand's 'Blended Travel' white paper says four in five* business executives worry that, unless they increase business travel, their professional (80%) and personal lives (80%) will suffer. The survey reveals that 35% of US consumers believe that it would be beneficial to them, and allow them greater flexibility, to combine work with a leisure trip abroad. Nearly two-fifths (36%) would add on average two to three more leisure days on to future business trips and feel a bit to more confident in traveling this summer if their holiday was blended into a work trip. Top reasons for wanting to travel for work amongst consumers include to discover new places, countries, and cultures (48%). Crowne Plaza has reported an uplift in business travel stays at its hotels, with leading hotels for combined travel and
As many US businesses struggle to find and retain workers, employees are in a stronger bargaining position. Employers looking to retain or attract talent must act to harness this increased desire for blended travel as, despite the cost-of-living crisis, YouGov research reveals that today's consumer views flexibility in working hours as equal importance when choosing where to work (54%), to high salary (56%).
work being Crowne Plaza HY36 Midtown Manhattan, Crowne Plaza North Augusta, Crowne Plaza Atlanta Perimeter at Ravinia, Crowne Plaza Phoenix – Chandler Golf Resort, and Crowne Plaza Asheville. 'As US employers struggle to fill vacancies, there is pressure on them to attract and retain the best talent. We've been playing in this space for many years, and we closely monitored evolving work and leisure trends. The shift since the pandemic has accelerated dramatically. Across our hotels and resorts, we've seen an uplift in those who blend work travel with leisure, and with 107 new hotels in the pipeline during the next three years, Crowne Plaza has already laid the groundwork by creating spaces and a service style that are specifically catering to these desires. People want in-person connections, and they also want the space to satisfy demands outside of the traditional 9-5 to enhance their well-being,' said Ginger Taggart, Vice President, Brand Management, Global Crowne Plaza Hotels & Resorts.
To explore the changing needs of its guests in relation to the uplift in demand for combined work and leisure travel, Crowne Plaza Hotels & Resorts, part of IHG Hotels & Resorts and one of the world's largest premium hotel brands, has launched the first 'Blended Travel' white paper by a hospitality brand: The Future of Blended Travel. The white paper identifies four emerging sub-trends that speak to guest's evolving needs: Reworking work: Travel to a hotel or resort in a warm, exotic overseas location or an exciting city as a base for remote flexible working has boomed over the past two years. Hybrid living, hybrid lives: Increasing number of business travelers are planning to extend their work travel with leisure days to get the most from their trips. Key to this is the flexibility and ability to work while traveling – whether it is a long-haul trip or a weekend visiting family – that's enabled by new working practices. Upskilling and side-hustles: Upskillers and Side Hustlers are using the power of travel to fuel inspiration, feed curiosity and enable networking and connections.
About the Whitepaper Research Crowne Plaza Blended Travel survey, targeting 3,000 IHG One Rewards members, conducted February 2022.
New care economy: More than ever before, families want to travel with children and grandparents. Multigenerational travelers seek out destinations that cater to all ages.
About YouGov data The research was conducted by research company YouGov between 1st – 4th July 2022 with a sample of 1281 adults in the US. All figures, unless otherwise stated, are from YouGov. The survey was carried out online. The figures have been weighted and are representative of all US adults (aged 18+).
Travel for both leisure and work are back – but it's different now. Guests of Crowne Plaza are rediscovering what's special about the brand: it's the only premium hotel offering with purposefully designed service and spaces which lend themselves to a blended lifestyle. From Plaza Workspace, a grouping of work and relaxation areas including the private, creative Studio zones that enable guests to work, eat and play, to the signature bar, providing a dynamic environment to socialize, work, and relax, Crowne Plaza's design is purposely built to promote connections and encourage informal gatherings. The brand's perfectly balanced and patented WorkLife Room offers a combination of comfort, connectivity and flexibility with distinct zones that maximize space for work, relaxation and sleep.
About IHG Hotels & Resorts IHG Hotels & Resorts (LON: IHG) (NYSE: IHG) (ADRs) is a global hospitality company, with a purpose to provide True Hospitality for Good. With a family of 17 hotel brands and IHG One Rewards, one of the world's largest hotel loyalty programmes, IHG has over 6,000 open hotels in over 100 countries, and more than 1,800 in the development pipeline. InterContinental Hotels Group PLC is the Group's holding company and is incorporated and registered in England and Wales. For more information, visit: ihgplc.com
PORSCHE DESIGN IN THE WORLD BIZ MAGAZINE LUXURY GUIDE DISCOVER MORE www.worldbizmag.com
INTERVIEW - KIM RIVERS CEO OF TRULIEVE CANNABIS CORP Kim Rivers currently serves as Chief Executive Officer of Trulieve Cannabis Corp., a verticallyintegrated "seed-to-sale" operation based in Florida. Rivers joined Trulieve at its inception and has been the key driver for the Company’s customer-centric vision, strong growth, strategic expansion, and industry-leading profitability. Ms. Rivers oversees every activity involved with the cannabis process from seed to sale to ensure quality, operational integrity and financial success.
Prior to Trulieve, Ms. Rivers spent several years in private practice as a lawyer where she specialized in mergers, acquisitions, and securities for multimillion dollar companies and has run a number of successful businesses from real estate to finance. Her experience has been instrumental in building Trulieve’s market leading position in its home state of Florida and provides the solid foundation on which to execute on growth and expansion initiatives as a multi-state operator.
Ms. Rivers also plays an active role in her community in addition to serving on numerous charitable boards. She received her Bachelor’s degree in Multinational Business and Political Science from Florida State University, where she also served as FSU’s student body President, and her Juris Doctorate from the University of Florida. Highlights for Ms. Rivers at Trulieve include: National Cannabis Roundtable – serves as the second vice chair Completing the largest M&A transaction in the history of the cannabis industry with Harvest acquisition in 2021 Establishing the FL medical cannabis market Issuing the first ESG report in the U.S. cannabis industry Trulieve’s expungement efforts 15 consecutive quarters of profitability Impact on majority minority communities (Gadsden, FL as example)
Share with us some of Trulieve recent successes under your leadership. Some of the key initiatives championed as the CEO of Trulieve during the last 12 months include: Acquisitions – Trulieve has executed a number of key acquisitions in 2021 to accelerate the growth trajectory for the company and establish the company’s self-sustaining ecosystem of businesses. In October, Trulieve completed its acquisition of Harvest Health & Recreation, which expanded Trulieve’s retail and cultivation operations to 4 new states, allowing the company to become the largest and most profitable multi-state operator in the United States. The company also announced the acquisition of PurpleMed Healing Center in Tucson, Arizona, Keystone Shops in Pennsylvania, and Nature's Remedy of Massachusetts, Inc. Increased Retail Footprint – Trulieve more than doubled its retail footprint substantially over the past 12 months. The company began 2021 with 75 dispensaries in 5 states and ended the year operating 160 stores in 11 states. New Markets – Trulieve’s recent success expanding in the U.S. South – a region that has been slow to
Trulieve is an industry leading, vertically integrated cannabis company and multistate operator in the U.S. operating in 11 states, with leading market positions in Arizona, Florida, and Pennsylvania. Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. With the completion of the Harvest acquisition, our Company has over 100 stores in Florida, and approximately 150 operated and affiliated dispensaries nationwide, with more growth ahead. Strong financial performance, driven by sales to a loyal and dedicated group of patients affectionately called Trulievers, positions Trulieve’s commitment to continue its pattern of growth.
embrace legal cannabis – strategically positions the company to shape the long-term growth and development of these emerging markets. Georgia – Trulieve became one of two cannabis businesses to secure a Class 1 production license in Georgia’s nascent medical market and will be one of six companies permitted to grow and manufacture low-THC oils once legal medical sales commence. West Virginia – In November 2021, Trulieve launched West Virginia’s medical marijuana market, opening the state’s first dispensaries and serving its first patient. Harvest acquisition Maryland, Nevada.
Innovation is at the heart of Trulieve’s products. As a company serving both medical and recreational consumers, it strives to create the highest-quality products for various need states. Some consumers can’t smoke, while others can’t swallow pills. Innovation is key to creating new form factors that will create better access and availability to our products.
Social Good ESG/DEI (see below) Expungement Clinics in multiple states Morehouse College of Medicine partnership for cannabis research and education Thurgood Marshall College fund established to provide scholarships Share with us some insight into the innovation culture at Trulieve. Innovation is at the heart of Trulieve’s products. As a company serving both medical and recreational consumers, it strives to create the highest-quality products for various need states. Some consumers can’t smoke, while others can’t swallow pills. Innovation is key to creating new form factors that will create better access and availability to our products. Recently, Trulieve developed and launched a new line of high-quality cannabis concentrates made through hydrocarbon extraction. Live Resin, a highterpene, single-source extract, is the first offering from Trulieve's new hydrocarbon line. Live Resin is created in Trulieve's state-of-the-art hydrocarbon extraction lab using the Company's proprietary blend of propane and butane on TruFlower that has been frozen immediately after harvest. The result is a strain-specific and full-spectrum concentrate that is exceptionally flavorful. It contains higher levels of cannabinoids and terpenes than other concentrates. Live Resin provides patients with a powerful and richly aromatic experience with a broader sensation of effects.
Additionally, using exclusive a cutting-edge, state-ofthe-art process call TruNano Technology, we developed and launched TruTonic, a brand-new drink powder that is the first of its kind in Florida. TruTonic offers a fast-acting, long-lasting alternative to smoking or vaporizing cannabis. TruTonic is intended to be added to water before ingestion, and when mixed will dissolve and fizz to create a seltzerlike beverage. The nano-based formulation allows patients to feel the medication's effects quickly. Trulieve's TruNano Technology allows for water solubility, increased bioavailability, and a faster onset than a traditional, distillate-based edible medication. At Trulieve, we're dedicated to meeting and exceeding patients' needs at every end of the cannabis experience spectrum by leading through innovation and continuous improvement of our research and development, products, methods, and processes. How does Trulieve stand out in the market? Trulieve understands that people consume cannabis for different reasons. The company has developed a comprehensive brand portfolio that includes four distinct brands designed to meet the needs of all consumers, from the canna-curious to the cannaconnoisseur. With the addition of the Muse™, Sweet Talk™ and Momenta™ brands and the expansion of the Cultivar Collection™, the company today provides a range of high-quality, innovative, proprietary brands that together meet the full spectrum of consumer motivations and need-states.
Share with us some commitment to CSR.
In November, Trulieve was the first multi-state operator (MSO) to issue an Environmental, Social, and Governance (ESG) Report, containing standard disclosures from the Global Reporting Initiative (GRI) Sustainability Reporting Standards, The Sustainability Accounting Standards Board (SASB) as well as the United Nations Sustainable Development Goals. The company is committed to operating transparently for its stakeholders and the industry at large. In 2020, it was also the first MSO to issue a Sustainability Review. The report underscores Trulieve’s high standards of ethics and governance, and accounts for how they
are integrated into the way they do business every day. The report highlights ESG achievements to date and serves as a foundation for demonstrating how the Company's ESG approach, strategies and commitments are embedded within its core business. Key figures the ESG report revealed: 100% reclaimed water at our greenhouses 71% of our stores (all Florida) utilize a recycling program LED lights reduce heat generation and consume up to 60% less energy 6 Supplier Diversity corporate memberships Work with over 150 organizations nationwide for DEI related activities – Expungement/clemency, Pride, Vets, Women orgs, cannabis advocacy, and social equity and minority groups
Over 700 people applied to our sponsored expungement clinics nationwide since 2020 > $1.5M spent on two economic empowerment applicants in MA – both approved by CCC/moving forward Approximately $1M spent to date in 2021 across DEI efforts 42% of our employees are minorities / 17% of our leadership are minorities 38% of our leadership are women / 48% overall employee base identify as women 50/50 female representation on the Board 7 out of 8, or 87%, independent board members
What improvements do you envision for the Cannabis industry? We envision a future where cannabis is safely accessible for all who need it and an industry that continues to release innovative new products and applications for medical cannabis. Trulieve works hard to improve our patients’ and customers’ lives and care deeply about making a difference in our society through providing the access to cannabis that may have the potential to, among other things, improve medical conditions and provide the opportunity for all consumers to live their best life. We focus on growing safe, quality cannabis and continually innovating to provide a large variety of products. We strive to be leaders in our industry by taking meaningful action for the patients we serve, our employees, the environment, and the community – including accelerating our efforts in diversity, equity, and inclusion. We work with purpose to advance education and awareness of cannabis to address challenges facing our country. With all the goodness we bring to our consumers and communities every day, we understand growing cannabis does have an impact on the environment. We aim to be good corporate citizens committed to addressing ESG risks effectively and transparently for our stakeholders. Trulieve has grown every year since its inception. Still, our unwavering commitment to our patients and customers, shareholder value, and sustainability has remained the same and will be key to maintaining our long-term success. This is the Trulieve way.
In 2022 and beyond, Trulieve is embarking on a multi-year effort to improve its ESG capabilities, quantify and track its progress, with a particular focus on efforts that translate to better healthcare for patients, motivate employees and build longterm financial value for shareholders. Trulieve is committed to being good corporate stewards to ensure the cannabis industry is safe, inclusive, equitable and sustainable for generations to come, all while communicating their progress. What makes a good leader? A good leader is always striving for excellence and expects the same of others. They have a clear vision and their energy and enthusiasm for that purpose inspires others. A good leader can articulate an organization’s mission and prioritize tasks to help the company achieve it. That focus means leaders have their eye on the big picture and have no tolerance for corporate politics. Leaders are active participants in the company, leading by example. They connect with workers and take the time to mentor talent to create tomorrow’s leaders. Leaders mold a culture of integrity and respect that allow the important work to get done. For more information, visit: trulieve.com
INTERVIEW - SUMIR MEGHANI CEO OF INSTAWORK Sumir Meghani is the Co-Founder and CEO of Instawork, the leading flexible staffing platform that connects local businesses with a network of more than 1.5 million hourly workers. Sumir’s expertise on the evolving labor market has been leveraged by leading industry conferences and has been featured on CNBC, Fortune, The New York Times, Washington Post, CBS News, and more. During Sumir’s time at Groupon, he regularly met with local businesses and the same conversations
surfaced about how challenges in finding quality workers could cripple their business. He co-founded Instawork to solve staffing shortages for local businesses and support skilled hourly workers, creating economic opportunities in a number of industries, including food and beverage, hospitality, retail, and warehouse logistics in more than 25 cities across the country. Instawork was named a “Top Business App” by Business Insider and one of the “Best Apps of the Summer” in 2021.
Instawork was also recently named one of Built In’s 2022 Best Midsize Companies to work for in the Bay Area and a Top Workplace by Energage. Sumir is an accomplished speaker on topics and trends related to the hourly workforce, including future of work trends, changes in labor supply and demand, and developing growth opportunities for skilled workers. He is a graduate of Stanford University and Harvard Business School. Share with us about some of Instawork's recent key successes. Instawork’s mission is to create economic opportunities for local businesses and professionals––a mission that has never been more important. Businesses across numerous industries continue to struggle with finding the adequate staffing necessary to meet the increased customer demand, as the nation begins to recover from the COVID-19 pandemic. Instawork is a force multiplier in helping businesses recover more quickly as it connects them with skilled hourly professionals looking to get back to work. The past two years has been one of exponential growth for Instawork, achieving 8X growth. Since August 2021, Instawork has seen a 48% increase in new workers using the app and a 37% increase in businesses leveraging the platform to address their staffing needs. The app had over 100,000 new users in just six weeks. Instawork has built a rich database of the hourly professional universe including historical employment, certifications, education, training, personal/professional connections, and dozens of other relevant data points. Using predictive algorithms with machine learning, Instawork is able to identify the best Professionals (Pros) and onboard them seamlessly and quickly into the platform. This creates a non-biased, fair, and fast experience for Pros to get access to shifts that will increase their earning opportunities and also ensure our business partners (Partners) experience great outcomes. Instawork’s key aspect of flexibility also ensures Pros don’t fall into the typical 50% no-show rate. Pros are encouraged and inspired to utilize and further their experience and skill sets to connect with businesses that need their expertise.
"Instawork’s mission is to create economic opportunities for local businesses and professionals––a mission that has never been more important." "Ease of use and the ability to immediately see desired outcomes are two of the most important aspects of our digital marketplace for both our Pros and Partners. A business can easily become an Instawork Partner and quickly find the workers they need for anything from an evening seating at a restaurant to a large multi-day event."
Instawork’s business has accelerated dramatically over the past 15 months as it adapted to the significant labor market shifts created by COVID-19, quickly expanding its marketplace to help address an imbalance of labor supply and demand. Instawork currently supports a number of industries, including food and beverage, hospitality, retail, and warehouse logistics. Active Instawork Pros across the U.S. create a profile, find a shift that matches their skills and interests, and often start working in under 24 hours. Shifts available via Instawork have grown 8X in less than two years, with thousands of new Pros building profiles in its marketplace each day. Under my leadership, Instawork announced a $60 million Series C financing to accelerate its support of a number of industries, including food and beverage, hospitality, retail, and warehouse logistics, bringing total funding to $100 million. The new funding will allow Instawork to continue rapidly expanding into new markets, job categories, and industries, while also investing in more training and development initiatives to help hourly professionals advance their careers.
"For the most part, legacy staffing solutions fall into two buckets: staffing agencies and web-based job boards that look to attract job seekers. The former lacks the advanced technology necessary to scale, and the latter lacks the flexibility and human touch to ensure jobs are filled with highquality professionals with the right experience for each opportunity. Instawork is bridging the gap between these two models by integrating its technology with its service teams for better, more consistent work outcomes."
Share some insight into the importance of innovation at Instawork. Instawork is fundamentally unique in that it combines high-tech with a high-touch approach for convenience, quality, and reliable staffing that both companies and professionals can rely on. The platform seamlessly matches workers with the most number of open shifts aligning with their skill sets, schedules, and level of safety comfortability. Now more than ever before, work flexibility is crucial for workers in the world’s new hybrid landscape, as individuals seek additional revenue streams, work that fits around parent-child remote school schedules, and location flexibility. For the most part, legacy staffing solutions fall into two buckets: staffing agencies and web-based job boards that look to attract job seekers. The former lacks the advanced technology necessary to scale, and the latter lacks the flexibility and human touch to ensure jobs are filled with high-quality professionals with the right experience for each opportunity. Instawork is bridging the gap between these two models by integrating its technology with its service teams for better, more consistent work outcomes. Through Instawork, Pros can easily register to share their unique work experience and skills, and access a variety of available short-term and long-term job opportunities that match their qualifications, interests, and schedules. The platform provides insight into each opportunity, including workplace reviews and hourly pay. Businesses that rely on
Instawork Pros range from nationally-recognized organizations, such as Marriott and Sun Basket, to retailers seeing massive supply chain disruption and local hospitality businesses that need to staff service roles quickly. These businesses are consistently matched with reliable Pros to fill available shifts and deliver valuable services. An ongoing priority for Instawork in 2021 and 2022 is the health and safety of our Pros, Partners, and the broader communities we serve. This has resulted in the integration of extensive health and safety protocols such as contact tracing, especially amid the ongoing and continuously fluctuating COVID-19 pandemic. Instawork seeks to prioritize worker support with programs such as shift leads, open forums for Pros to swap advice on specific jobs, in-app training modules on warehouse skills, and the ability to seamlessly switch shifts. Ultimately, Instawork listens to Pros collectively on the platform and seeks to put the worker first and in control of their own participation in the workforce. Instawork is also all about choice, enabling Pros to work as much or as little as they’d like, while enjoying the flexibility of choosing jobs that best suit their schedules, skills, and needs. Many Instawork Pros already have full-time “day jobs,” and are looking to supplement their income while potentially sharpening important skills and/or learning new ones. While the gig economy and COVID-19 has brought attention to the value of flexible work environments and remote employment, it has also shined a light
Share some insight into the importance of innovation at Instawork. Instawork is fundamentally unique in that it combines high-tech with a high-touch approach for convenience, quality, and reliable staffing that both companies and professionals can rely on. The platform seamlessly matches workers with the most number of open shifts aligning with their skill sets, schedules, and level of safety comfortability. Now more than ever before, work flexibility is crucial for workers in the world’s new hybrid landscape, as individuals seek additional revenue streams, work that fits around parent-child remote school schedules, and location flexibility. For the most part, legacy staffing solutions fall into two buckets: staffing agencies and web-based job boards that look to attract job seekers. The former lacks the advanced technology necessary to scale, and the latter lacks the flexibility and human touch to ensure jobs are filled with high-quality professionals with the right experience for each opportunity. Instawork is bridging the gap between these two models by integrating its technology with its service teams for better, more consistent work outcomes. on what hourly professionals are looking for: job flexibility, work/life balance, and career growth. Instawork is leading the industry by providing these workers the opportunity to work on their terms so they can better care for their families while also continuing to develop professional skill sets and experience. Instawork Pros also have the opportunity to have an impact on their work environment as well as dynamic pricing tied to peak days or more demanding jobs. Instawork has been spearheading the staffing of various industries, offering workers flexible open shifts with wages ranging from 30%-118% higher than state minimum wages, allowing them to earn wages that are better reflective of their experience. Many Instawork Pros work enough shifts to be the equivalent of a full-time job (some earning upwards of $50-$60k annually or more), and many Pros have stated that income through Instawork has allowed them to spend invaluable quality time with their families while increasing their economic opportunities.
Through Instawork, Pros can easily register to share their unique work experience and skills, and access a variety of available short-term and long-term job opportunities that match their qualifications, interests, and schedules. The platform provides insight into each opportunity, including workplace reviews and hourly pay. Businesses that rely on Instawork Pros range from nationally-recognized organizations, such as Marriott and Sun Basket, to retailers seeing massive supply chain disruption and local hospitality businesses that need to staff service roles quickly. These businesses are consistently matched with reliable Pros to fill available shifts and deliver valuable services. An ongoing priority for Instawork in 2021 and 2022 is the health and safety of our Pros, Partners, and the broader communities we serve. This has resulted in the integration of extensive health and safety protocols such as contact tracing, especially amid the ongoing and continuously fluctuating COVID-19 pandemic. Instawork seeks to prioritize worker support with programs such as shift leads,
open forums for Pros to swap advice on specific jobs, in-app training modules on warehouse skills, and the ability to seamlessly switch shifts. Ultimately, Instawork listens to Pros collectively on the platform and seeks to put the worker first and in control of their own participation in the workforce. Instawork is also all about choice, enabling Pros to work as much or as little as they’d like, while enjoying the flexibility of choosing jobs that best suit their schedules, skills, and needs. Many Instawork Pros already have full-time “day jobs,” and are looking to supplement their income while potentially sharpening important skills and/or learning new ones. While the gig economy and COVID-19 has brought attention to the value of flexible work environments and remote employment, it has also
shined a light on what hourly professionals are looking for: job flexibility, work/life balance, and career growth. Instawork is leading the industry by providing these workers the opportunity to work on their terms so they can better care for their families while also continuing to develop professional skill sets and experience. Instawork Pros also have the opportunity to have an impact on their work environment as well as dynamic pricing tied to peak days or more demanding jobs. Instawork has been spearheading the staffing of various industries, offering workers flexible open shifts with wages ranging from 30%-118% higher than state minimum wages, allowing them to earn wages that are better reflective of their experience. Many Instawork Pros work enough shifts to be the
equivalent of a full-time job (some earning upwards of $50-$60k annually or more), and many Pros have stated that income through Instawork has allowed them to spend invaluable quality time with their families while increasing their economic opportunities. How does Instawork stand out? Ease of use and the ability to immediately see desired outcomes are two of the most important aspects of our digital marketplace for both our Pros and Partners. A business can easily become an Instawork Partner and quickly find the workers they need for anything from an evening seating at a restaurant to a large multi-day event. The ability of our customers to trust in our product is paramount. Through Instawork, they know the workers that arrive to a shift are ready to work, dressed appropriately, and have the necessary skills to perform as expected. Instawork Pros are rated based on their performance at other previous jobs, eliminating concerns for our Partners that staff will be late, won’t show, or won’t be properly prepared for their shift.
"Instawork’s fill rates are the best in the industry, with the vast majority of worker matches happening within 24 hours. This speed of shift fulfillment combined with the quality of more than one million Instawork Pros is better than businesses can find anywhere else on the market." "The ability of our customers to trust in our product is paramount. Through Instawork, they know the workers that arrive to a shift are ready to work, dressed appropriately, and have the necessary skills to perform as expected. Instawork Pros are rated based on their performance at other previous jobs, eliminating concerns for our Partners that staff will be late, won’t show, or won’t be properly prepared for their shift."
Instawork uses a two-way rating system between our Pros and Partners, allowing them to rate their experiences. On average, our Pros have a 4.3 star rating (out of 5), and our Partners have achieved a 4.7 star rating (also out of 5). These ratings combined with the quality and reliability of Pros filling shifts have led to our Partners experiencing increased revenue, with some exceeding their annual revenue goals in just a few months. This is a relief for many business owners working to recover from the devastation of COVID-19, particularly in hospitality. Both Pros and the businesses we partner with have expressed appreciation for the impact Instawork has had in increasing economic opportunities, especially after such a turbulent two years. One business shared how Instawork has helped meet and exceed their financial goals for the year: "With Instawork, we had the staff to meet our yearly revenue goals in 2.5 months. Many days the majority of the staff scheduled is from Instawork. In fact, they’re the ones training our full-time staff! I am grateful and would not be able to run this operation without your team.” - east coast business.
Pros also frequently comment on how Instawork has provided opportunities to increase their income: “This app allows you to create your own flexible schedule for the week that fits your availability, and still bring home a paycheck equivalent to a 40 hr full time employee with the benefit of working in different locations!! With this app, I can also see days of work in advance! Such a great app for those who lack full time childcare, single parents, part time students, or anyone just looking to make a few side bucks!!” - iOS app review, August 17, 2021 “I just got this app but i’ve already been pleasantly surprised with the amount available! There are many opportunities within this app and it’s perfect for young growing professionals whose ideal work has a flexible schedule, a platform to network on, and a sense of independence!” - iOS app review, August 16, 2021 “Since I already have a part-time job, I was looking for something that could bring me a little extra cash every now and then. I love how easy it is to book a gig. The process of signing up isn’t confusing or complicated and the app works great for my iPhone. I like it.” - iOS app review, August 15, 2021
"Ecommerce and light-industrial businesses are set to exceed growth projections in 2022 as consumers still rely heavily on product and food delivery to their homes, especially with COVID variants fueling continued consumer caution. These businesses need increased staffing at unpredictable rates, depending on daily demand. Instawork enable these businesses to scale their staffing needs quickly. If they experience an uptick in orders, Instawork quickly connects them with skilled hourly professionals looking for steady shifts, allowing them to easily grab shifts as they become available."
Share with us some details about Instawork's CSR initiatives. Our mission to create economic opportunity for businesses and skilled hourly professionals is evident in almost every aspect of our company. Allhands meetings begin with a reminder of our impact on local communities by reviewing stories from local businesses and workers who use the app. Employees are also encouraged to pick up shifts in order to gain insight into the experience of Instaworkers. The team takes pride in knowing our work has a direct impact on the success of local businesses and the surrounding communities. What improvements do you envision for your industry? Food and beverage and hospitality industries were hit the hardest by COVID-19, with businesses closing and furloughing the majority of their staff. As of the July 2021 labor report, hospitality was still down 1.7 million jobs, with evidence pointing to a large number of hospitality workers leaving the industry altogether. These industries are forced to rethink how they staff their businesses, especially when restaurants are reporting that pre-COVID, they would receive hundreds of applicants for an open position, now during the ongoing pandemic, they may receive one or two applicants at most. With slim margins and increased customer demand, businesses are struggling to successfully navigate this “new normal.” In order for hospitality to fully return to normal, the industry will need to meet new expectations from skilled workers in the field and better leverage the power of technology to ensure they fill their open shifts and meet increased demand. Ecommerce and light-industrial businesses are set to exceed growth projections in 2022 as consumers still rely heavily on product and food delivery to their homes, especially with COVID variants fueling continued consumer caution. These businesses need increased staffing at unpredictable rates, depending on daily demand. Instawork enable these businesses to scale their staffing needs quickly. If they experience an uptick in orders, Instawork quickly connects them with skilled hourly professionals looking for steady shifts, allowing them to easily grab shifts as they become available.
"Businesses need to balance their operational needs with the new desires for flexibility, higher wages, and career growth of the hourly workforce. Instawork’s vision of the future of work has revolutionized how our Partners find staff for their businesses while managing new worker expectations, providing businesses with peace of mind knowing they can easily staff their events and dial up or down their staffing based on their unique needs."
Instawork’s fill rates are the best in the industry, with the vast majority of worker matches happening within 24 hours. This speed of shift fulfillment combined with the quality of more than one million Instawork Pros is better than businesses can find anywhere else on the market. The pandemic has provided businesses with the unique opportunity to re-evaluate their staffing strategy in order to best attract and retain skilled and reliable workers. Businesses need to balance their operational needs with the new desires for flexibility, higher wages, and career growth of the hourly workforce. Instawork’s vision of the future of work has revolutionized how our Partners find staff for their businesses while managing new worker expectations, providing businesses with peace of mind knowing they can easily staff their events and dial up or down their staffing based on their unique needs. What makes a good leader? Instawork utilizes a well known strategy from General McCrystal’s Team of Teams called empowered execution. This ability allows every team member across the organization to act with authority, enabling them to take action without approval. They joined the team because we think they have the right experience and skillset to take the organization to the next level, so we empower them to act accordingly. When employees are given this freedom, they are more careful about making the right decision and take pride and responsibility in the outcomes. This is particularly important as startup culture doesn’t typically have a longstanding playbook to follow for success, you are often evolving as the organization and team scale.
A good leader is humble and humility is a key component of our team’s success. Everyone is readily available and accessible, including our Cofounder and CEO. He meets with every new hire that joins the team and offers his personal contact information to ensure he can easily be reached, encouraging everyone to shoot him a text with great new ideas, ways to improve upon a process, or the latest score of his beloved Detroit sports teams. Mentorship is another quality of a good leader that has contributed to our rapid growth. We encourage all team members to find a mentor they can meet with regularly and that can help them grow and challenge them to constantly think bolder and bigger. Our CEO serves as a mentor to a number of members of our team. We are privileged to have some of the brightest minds in the business as part of our Board of Directors, network of advisors, or part of our team directly. If someone doesn’t have a mentor they can go to for advice, managers and other Instawork leaders will work to connect team members with industry experts that can serve as a great resource and mentor for additional coaching during their tenure with the company.
About Instawork Flexible staffing for today's local workforce Instawork is the leading flexible staffing solution for local, hourly professionals. Its digital marketplace connects businesses and qualified professionals across the U.S., filling a critical role in local economies. For more information, visit: instawork.com
KATTIYA INDARAVIJAYA, CEO OF KBANK CREATING THAILAND'S FIRST CHALLENGER KASIKORNBANK is adopting a ‘challenger bank’ DNA to transform the way banking is done and people’s expectations of their bank.
We are championing simplification, speed, and a more sophisticated evaluation of small customers’ potential to be responsible borrowers so that the unbanked and underbanked can also benefit from banking products that can improve their lives and their businesses. And, in this age of widespread entrepreneurship, we’ll also be helping to empower great new economic potential in our country.
KASIKORNBANK is rolling out a strategic national programme aimed at boosting access to banking services among Thailand’s unbanked and underbanked population as well as very small businesses and the self-employed. The programme includes accelerated investments in technology, technology-related acquisitions, commercial partnerships, organisational development, as well as adopting other technology-driven methods to boost access to banking services among a broader range of the public. We’re taking a bold step, and, through technological
Ms. Kattiya Indaravijaya is the CEO of Kasikorn Bank, one of the largest banks in Thailand. She is also the Chairwoman at Kasikorn Research Center Co. Ltd. She is on the Board of Directors at Beacon Venture Capital Co. Ltd., Kasikornbank Public Co. Ltd., Amata B Grimm Power Plant Infrastructure Fund, Kasikorn Leasing Co. Ltd. and Muang Thai Group Holding Co. Ltd. She received her undergraduate degree from the University of Chulalongkorn and an MBA from The University of Texas.
leadership, aim to transform banking in Thailand in ways that can help more people enter the banking system and benefit from banking products and services. We’re already a bank that has the great strengths and reliability of a traditional bank serving a wide range of customers. What we’re now doing is to fuse on to that successful core the disruptive DNA of a ‘challenger bank’. Challenger banks have been a disruptive phenomenon in many countries ‘challenging’ legacy banks by using new technology to make banking products more accessible. Challenger banks have also appealed to traditional bank customers by eliminating cumbersome processes and providing faster services that are easy to use, available everywhere, and always-on. KBank - ‘Thailand’s First Challenger bank’ By fusing the DNA of a ‘challenger bank’, we want to be a bank that empowers a whole new generation of Thais, who are rich with ability and energy, to gain access to banking products and advice. We want to give more loans without collateral and based on a borrower’s real ability and intention to repay. We want to make it easier for everyone to apply from the privacy of their homes or offices. We want to remove processes and paperwork and to make things really simple. And we want it all to happen for the customer much, much faster.
We have embarked on our strategic programme to fully harness emerging technologies to conduct more complete evaluations of a customer’s ability and willingness to pay back a loan. These more sophisticated evaluations of a small customer’s potential to be a responsible borrower will enable millions more individuals, the selfemployed, and very small businesses to enter the banking system as well as free many from the debt trap of loan sharks who charge interest, often at over 200% a year. Investment In Emerging Technologies / Collaborations / Acquisitions During this and the next two years, KBank is investing around Bht 22,000 million in new technology and systems, in addition to Bht 12,700 million invested during the last two years. KBank also expects to complete, in the next 12 months, between two to five acquisitions and commercial collaborations with technology-related enterprises with investments of up to Bht 30,000 million. These substantial investments will secure KBank significant additional capabilities to fulfil our mission to broaden access to banking, as well as firmly embed the DNA of a challenger bank in our organisation. KBank has already been triailing multiple new systems and processes in preparation for this strategic push.
"We’re taking a bold step, and, through technological leadership, aim to transform banking in Thailand in ways that can help more people enter the banking system and benefit from banking products and services." "By fusing the DNA of a ‘challenger bank’, we want to be a bank that empowers a whole new generation of Thais, who are rich with ability and energy, to gain access to banking products and advice."
Individuals can open new accounts online, within minutes if they are existing customers, and between 24 to 72 hours for others who need to verify their identity. An account holder can also apply for a personal loan, have it considered, and, if approved, have the funds transferred into their account, all within 30 minutes. Only a few years ago, such a process would have taken weeks and required a physical visit to a branch. Next, we aim to replicate this near-instant application and consideration process for even those who have no account at KBank. Three Transformational ‘Firsts’ 1. KBank is now piloting specialised buy-now-paylater loans for those who are self-employed or have no documents to prove their income, by evaluating their credit-worthiness on alternative data. In the last several months, KBank has been approving an average of 1,600 loan applications, daily, using this method, and the loan amount is usually at around 1,500 baht, with some cases going up to 20,000 baht. We are the only bank to do this, and are very encouraged that many of these people are likely to have never been given a loan by a bank and are probably among the most vulnerable victims of loan-sharks. This first small loan becomes a bridge that helps them cross into the banking system. And, as they gain self-confidence in managing these loans and repay, they can gradually increase their loan size based on their performance, as well as be empowered with other, more specialised products. 2. KBank is also trialing ways in which to make obtaining loans fairer for micro enterprises as part of its ‘challenger bank’ goals. Because many of these types of enterprises do not have financial statements, they are almost always unable to obtain bank loans and are forced to turn to expensive, unofficial lending sources. We are the first bank to reach out to these groups and allow them to obtain loans without any such documentation. We are doing it based on interviews and other technology-assisted assessments, and hope to extend the project beyond its preliminary phase, soonest.
3. Another important barrier to taking out bank loans for lower-income and self-employed groups is that they do not have the time to visit a bank branch or aren't comfortable doing so. To make it easier for them to enter the banking system we partnered with LINE, and are the only bank offering banking services through social media in Thailand. Even if an applicant has no bank account, our LINE BK app lets them apply for a loan and get a decision within 24 hours. And if they already have an account with KBank, they can complete an application and be given a decision in less than five minutes. The LINE BK app is also enabling people to apply for loans even if they have no supporting documents. With an applicant’s consent, we can evaluate most cases by using algorithms and alternative data already available on their social media. Based on its current userbase, around one in three successful borrowers through LINE BK are getting their first bank loan, ever; nearly half are selfemployed, around half have income lower than Bht 15,000 a month, and almost 80% are in the provinces outside Bangkok.
By the end of this year, with just the LINE BK app, we hope to bring a further 200,000 people into the banking system by giving them their first bank loan. Through this channel, we also expect to extend loans totaling 20 billion baht to over 600,000 people and small businesses, freeing many from the need to consider borrowing from expensive unofficial sources. Broadening Access Upcountry Through MomAnd-Pop Stores KBank is also working with a major retail group to give upcountry mom-and-pop store operators easier access to loans without collateral, as well as providing loans to the stores’ customers. By evaluating a store’s and its customers’ creditworthiness in non-traditional ways, and by making processes much simpler, within 2022, we aim to reach deep into upcountry through the partner’s thousands of stores. It will put us another big step closer to helping residents of small communities around Thailand gain access to banking services. For more information, visit: kasikornbank.com
FORMER CEOS LAUNCH ADVISORY FOR INVESTING IN ASIA AND EUROPE Unbiased strategic, M&A and operational advice without a geopolitical preference from global C level executives for all Investments in both Europe and Asia. Silk Road Partners (SRP), a strategic consultancy, has launched to facilitate growth along the old trade routes between Europe and Asia. Asia will soon account for half of global GDP and about one-third of global consumption. Asian, and particularly Chinese, companies are developing fast and powerfully, and European organisations need to engage with the Asian market.
Founded by a group of former CEOs that have managed on the frontline in both Asia and Europe, Silk Road Partners is an international Strategic Consultancy. It smoothens the path for investments between Asia and Europe through a vast Eurasian network and has offices in Brussels and Hong Kong and strategic partners in amongst others Shanghai, Singapore, Dubai, Paris and Cambridge. Silk Road Partners provides unbiased advice to all stakeholders in both Europe and Asia without a geopolitical preference. They focus solely on what’s economically the best for the project, without being
distracted by politics. More than ever, CEOs require a soundboard and reality check in this volatile, uncertain, complex and ambiguous world, to ensure they make the right decisions and don't miss out on the tremendous value that can be captured through collaboration along the Silk Road. “European companies wanting to develop their business in Asia, attracted by the huge potential of the region and the emerging new world order, are confronted with the unknown, resulting from important cultural differences and lack of local network and knowledge.” Jan Goesaert, Co-Founder and Executive Committee member, states. “This is where SRP comes in, offering deep know how and introduction in many Asian countries, while simultaneously bridging the European and Asian way of thinking and doing business. M&A transactions, collaboration agreements, (re)location and entry studies, business plan development, are but a few of our services.” “Chinese VC have poured 1.2 billion Euro into European tech start-ups’ in 2021, reflecting a shift from state-owned enterprises to private capital investments in focused sectors. The full potential of this cash-rich Chinese FDI is now being hampered by an increasingly negative perception of Chinese investors in Europe. SRP delivers both a neutral and unbiased assessment of the investment potential, whilst providing preand post-investment operational support to guarantee durable success and performance.” Peter Buytaert, Co-Founder and Executive Committee member. “We at SRP can assist with these strategically critical logistical decisions - not just in theory, but also in practice. We can even find and train local management if need be. Also the “abandoned” assets are not forgotten – we can either sell them off to the best local investor or develop a plan to use the resulting overcapacity to service local markets better. “Act local” has become beautiful again and we can help”. Elco van Grotenhuis van Onstein, CoFounder and Executive Committee member. “In PPP terms, China has become the world's largest economy and trading power and India, the fastest growing economy. Southeast Asia receives more foreign direct investment than China and India combined. The EU has become ASEAN's 2nd largest
European companies wanting to develop their business in Asia and vice versa are confronted with the unknown, resulting from cultural differences & lack of local network & knowledge. Here's where Silk Road Partners comes in.” Silk Road Partners provides unbiased advice to all stakeholders in both Europe and Asia without a geopolitical preference. They focus solely on what’s economically the best for the project, without being distracted by politics.
trading partner, after China. All of these are indications of the changing world and the interconnectivity. SRP has the deep knowledge, vast experience, and unique network to assist companies and public entities in navigating this rapidly changing world, benefitting from the once in a lifetime opportunity now presenting themselves.” Daniel de Blocq van Scheltinga, Managing Partner, Hong Kong. Silk Road Partners provides services such as Business Intelligence, Mergers & Acquisitions, Capital Raise & Private Placements, Pre- & Postmerger integration, Turnaround services, Business/Asset relocations, Supply Chain optimisation, Executive search, HR development and Coaching of local management to future-oriented industries and those that are affected by geopolitical or logistical challenges. For more information, visit: silkroadpartners.eu
2022 CEO STUDY DETAILS HOW HUMAN CENTERED CEOS FUEL PERFORMANCE Higher Ambition Leadership Alliance 2022 CEO Study. Through a series of in-depth CEO interviews, Higher Ambition Leadership Alliance has identified key behaviors of human-centered CEOs that drive strong and sustainable performance for their organizations. The "Higher Ambition Leadership Alliance 2022 CEO Study: How Human-Centered CEOs Fuel Performance" reveals how these CEOs cultivate their own intentional, personal leadership practices and build Higher Ambition practices and systems into the fabric of their organizations.
This qualitative CEO research study profiles these top CEOs in action and includes stories and examples of how they lead. To download the full report, visit: this link The Higher Ambition Leadership Alliance is a nonprofit community for CEOs and senior executives committed to helping leaders build high-performing organizations that deliver superior economic and social value. Since 2011, the Alliance has studied and supported these organizations and their leaders.
The 50 CEOs and presidents interviewed represent large industry giants and nimble market disruptors. Discussions occurred from the height of the Covid-19 shutdowns through early 2022, with leaders from companies including: BD, CVS Health, Eastern Bank, Otis Elevator Company, Sainsbury's, Talbots, and Xylem. The executives shared the everyday leadership practices that help them build thriving, lasting organizations through these tumultuous times. Some of their practices may go against the typical, traditional profile of a successful CEO, but for these leaders, their actions have translated to solid performance over time.
The 50 CEOs and presidents interviewed represent large industry giants and nimble market disruptors. Discussions occurred from the height of the Covid19 shutdowns through early 2022, with leaders from companies including: BD, CVS Health, Eastern Bank, Otis Elevator Company, Sainsbury's, Talbots, and Xylem. The executives shared the everyday leadership practices that help them build thriving, lasting organizations through these tumultuous times. "The continued escalation of volatility and uncertainty coupled with demands for meaning at work and more sustainable practices make humancentered leadership a competitive imperative," says Jeannie Diefenderfer, CEO, Higher Ambition Leadership Alliance.
"At the same time, it is harder than ever to deliver outstanding performance in the short- and longterm while consistently honoring people and purpose. The economic case for what we call Higher Ambition leadership is sound, yet many executives find it hard to push back against corporate inertia. We set out to show how a growing group of determined CEOs are doing the real work of leading this way." Some of their practices may go against the typical, traditional profile of a successful CEO, but for these leaders, their actions have translated to solid performance over time. The Higher Ambition Leadership 2022 CEO Study highlights three distinctive ways that humancentered CEOs fuel performance: Build high-trust relationships with stakeholders to power innovation and agility. Find shared purpose to move beyond bi-lateral partnerships. Build trust with diverse stakeholder groups through genuine human connection. Recognize that culture is THE high stakes value driver… or destroyer… and invest accordingly. Embed values into leadership development and talent management systems. Create opportunities and structures that encourage the honest dialogue that drives action on issues and true engagement. Show up authentic, open, and vulnerable to engage and inspire your team. Show your true self and show you care. Personally draw out different perspectives. Higher Ambition Leadership Alliance Higher Ambition Leadership Alliance is a CEO-led community building thriving companies ready to solve the world's toughest problems. We understand how collective focus on people, purpose, and performance creates successful organizations. We bring leaders together to learn through honest, meaningful experiences with peers and experts who challenge and advance their thinking. Everything we do is grounded in academic research and real-world experience and designed for impact. For more information, visit: higherambition.org
IDTECHEX - DIGITAL SMELL THE OPPORTUNITY UNDER OUR NOSES Consumer technology can imitate many human senses: cameras to see, microphones to hear, and touch-sensitive screens to feel, but what about scent? Imagine a world where we not only upload pictures of our latest recipes, beauty products, and coffees - but also share their smell. The opportunities for digital smell could be vast, but what are they, and what gas sensor technology will enable it? Electronic noses imitate our natural senses The latest gas sensor technology is designed to digitize smell by imitating the human nose and
brain. Our noses are full of receptors that respond to gas mixtures, and over time our brain learns to recognize a given smell. In the same way, we are not born able to distinguish roses from lilies, electronic noses also require a period of training. So-called 'e-noses' combine arrays of gas sensors with machine learning algorithms that can identify patterns in response to a specific smell. The capabilities of miniaturized sensors and machine learning software have been growing and have now reached a level of commercial readiness to create a digital smell industry.
So-called 'e-noses' combine arrays of gas sensors with machine learning algorithms that can identify patterns in response to a specific smell. The capabilities of miniaturized sensors and machine learning software have been growing and have now reached a level of commercial readiness to create a digital smell industry.
Both good and bad food and drink smells have value Food and drink are obvious sources of smells we care about and a key-use case for e-noses. For example, the source of an aroma profile, or differences in smell between similar foods, is poorly understood. E-noses offer a solution to better understand what makes our favorite dishes so tempting. On the other hand, measuring gases given off by food as it deteriorates or becomes contaminated offers a way to maintain food quality and ensure safety. It could even help tackle food waste issues, with smell data offering an alternative to 'best before' dates. At an industrial level, ensuring product consistency and quality control could also utilize smell sensors more broadly, which could threaten the existing supply chain of lab-bench equipment used in this area. Commercial devices suitable for integration into smart-home goods and factories are just now emerging to monitor food and drink. Some manufacturers are beginning to add gas sensors into white goods, and others will need to follow to compete in the smart home market going forward. The air demand for air quality sensors also impacts e-noses Beyond quantifying smell, many new e-nose technologies are targeting more sensitive and selective measurements of air quality than existing
gas sensors. It is these capabilities that have seen them begin to be adopted into smoke detectors, including alarms in the home and sensors distributed outside for wildfire monitoring. There is growing interest in air quality and its impacts on our health, particularly long exposure to low concentrations will also create demand for enoses. The success of this use-case in the smart city and home sectors will arguably rely on effective marketing by OEMs, with this being a major barrier to mass-market adoption in the medium term. Opportunities and challenges for e-noses The use of arrays in e-noses creates an opportunity for multiple types of gas sensor technology. The data from well-known sensors such as metal-oxide, electrochemical and infra-red, photoacoustic, and others can all be used by software looking to quantify gas mixtures. At the same time, advanced materials can form ultra-miniaturized sensors with the potential for integration into smartphones and wearables. Some challenges for e-nose technology remain. For example, the use of lower-cost and poor sensitivity commoditized sensors and higher-value software places a significant burden on training the artificial intelligence required. However, the inherently higher-performance hardware for e-noses, such as printed carbon nanotubes, are not yet manufacturable at scale and are still seeking a 'killer app' and high-volume orders.
Furthermore, to date, the infrastructure to train enoses and share the data is limited. Whilst images have been simplified into an RGB format, there is not yet an equivalent for smell. This challenge has been identified by some, such as Aryballe, but before the digital smell industry can reach its full potential, there needs to be more standardization. Outlook and Market Forecasts The digitization of smell would be an exciting addition to the sensing capabilities of consumer electronics. The technology has historically had a reputation for being over-hyped, but off-the-shelf devices represent the real process made by the sector. This has largely been driven by innovations in the fundamental gas sensor technology required, in parallel with the maturity of machine learning software. The latest IDTechEx report, "Gas Sensors 2022-2032: Technology, Opportunities, Players, and Forecasts", compares and benchmarks over 15 different gas sensor technologies which could be used within enose systems as well as many other applications such as air quality, automotive, and safety. IDTechEx has been covering the broad topic of sensor technology since 2008, with a portfolio including wearable, printed, and image sensors. This dedicated gas sensor report evaluates the performance of multiple technologies in detail – comparing their key characteristics and compatibility to different application areas. It includes multiple company profiles from interviews with both major manufacturers and start-ups specializing in a range of different technologies. For more information on this report, please visit IDTechEx.com/GasSens For the full portfolio of research available please visit: IDTechEx.com/research About IDTechEx IDTechEx guides your strategic business decisions through its Research, Subscription and Consultancy products, helping you profit from emerging technologies. For more information, visit: IDTechEx.com
WBM INVESTOR INSIGHT
"ELSE NUTRITION is a disruptor in its field that brings a first and exclusive ip protected alternative to aN $80b GLOBAL MARKET WITH NO REAL COMPETITION." HAMUTAL YITZHAK - ELSE CEO
OMAN - AN IDEAL LONG-TERM INVESTMENT OPPORTUNITY Oman is the ideal location for businesses interested in the growing and emerging markets of the Middle East, Africa and Asia. From headquarters and backoffices to manufacturing and logistics, Oman offers people and businesses an outstanding place to live, work, invest and visit. We have an excellent talent pool of people. Our roads, ports and airports are ranked as some of the best in the world and we boast world-class ICT, manufacturing and business properties. We offer everything an ambitious company needs to succeed.
Why Invest in Oman? Many international analysts see Oman as an ideal long-term investment opportunity. Here's Why: Strategic Location At the centre of the east-west nexus joining markets in Europe, Asia and North America in addition to proximity to Africa. Diversification Government focus on industrialization and publicprivate partnerships to diversify the economy away from oil and gas.
Oman is genuinely a great place to live, work and invest. It’s diverse – uniquely combining local and global. Our schools are first-class. There’s quality housing, to rent or buy, to suit every budget. Our healthcare is exceptional. Oman came in second in the Global Wellness Index which ranks 151 countries on living standards and how healthy, happy and successful people are. So it shouldn’t come as a surprise that people from all over the world choose to visit, live, work and invest in Oman.
Political and Economic Stability We are proud of Oman’s legal transparency, economic stability and political tranquillity. Infrastructure State-of-the-art roads, airports, ports, free zones and industrial estates. Custom Exemptions Exemptions on the import of plant machinery and raw materials for five years from commencement of production. Foreign Ownership 100% foreign ownership now available nationwide. Capital and Profit Repatriation There are no restrictions on capital, profit repatriation, currency exchange or dividend transfers. Trade Agreements Signatory to WTO, GCC common market, GAFTA, FTAs with USA, Singapore, Iceland, Norway, Switzerland and Lichtenstein. Taxation Corporate tax is low at just 15%. Transparent Legal System Investor-friendly legislative environment. Oman is genuinely a great place to live, work and invest. It’s diverse – uniquely combining local and global. Our schools are first-class. There’s quality housing, to rent or buy, to suit every budget.
Our healthcare is exceptional. Oman came in second in the Global Wellness Index which ranks 151 countries on living standards and how healthy, happy and successful people are. So it shouldn’t come as a surprise that people from all over the world choose to visit, live, work and invest in Oman. Target Sectors The sultanate of Oman’s strong economic development over the years is mainly due to its flourishing and diverse business sectors. Each business sector, ranging from Education to Information Technology, offers potential investment opportunities bringing. Tourism in Oman The Sultanate of Oman is richly endowed with stunning vistas and a rich cultural heritage. As a peaceful and unique destination, regional and global interest in Oman as a tourist destination continues to gain momentum. Oman Tourism Development Company (Omran) is a Government owned company mandated to drive the investment, growth and development of the rapidly growing tourism sector in the Sultanate of Oman. Agriculture & Fisheries in Oman Despite the serious impact of the COVID-19 pandemic, Oman’s agricultural and fisheries sectors witnessed a growth rate in 2021 of 9.8%. Total volume of food production increased from 1.7million tons in 2011 to 3.9 million tons in 2019, achieving an average growth of 10.9%. The total value of food production for the same period rose from RO446 million to RO930 million, an average growth rate of 9.6%.
Manufacturing in Oman For the past three centuries, Manufacturing has helped raise living standards by driving economic growth globally. Currently its continued growth accounts for nearly 16% of the global GDP and 14% employments. Apart from the major contributions made by the hydrocarbon sector to Oman’s economy, Oman’s manufacturing sector has also contributed significantly since its advent in 1975. It currently employs 61,000+ people, and exports to 140 countries around the world. It has been key to providing employment and a good quality of life for Omani families. In 2015, Made in Oman, non-oil exports touched the USD 8bn mark, up from the USD 680m realized in 2002. This accounted for 9.5% of Oman’s GDP. Logistics in Oman The logistics sector plays a vital role in Oman’s modern and ambitious economy and is key to increasing inward investment, non-oil exports and the nation’s competitiveness. Logistics is also a critical enabler for all businesses. Right from the hypermarkets in Seeb, to the gypsum quarry in Thumrait, the battery manufacturer at the Rusayl Industrial Estate, or the pelletizing plant in Sohar, to the plastics exporter at the Salalah Free Zone, all businesses need an efficient and dependable logistics system to enable ways and means to increase efficiency and drive profits. Mining in Oman Geographically, Oman is naturally endowed with more mineral wealth when compared to its Gulf neighbours and is also well known for its copper mining since time immemorial. In ancient times Oman was known as 'Majan' or 'the Land of Copper'. The largely untapped mineral sector of Oman is now known to be rich in chromite, dolomite, zinc, limestone, gypsum, silica, gold, cobalt and iron and the Mining Sector is now expected to become a major non-hydrocarbon contributor to the Omani Economy in the years to come. The Ministry of Commerce and Industry regulates Oman’s mining activities according to the Mining Law (Royal Decree No. 27/2003), which provides for the issuance of mining licenses, the resolution of mining sector disputes, and the protection of the environment. Education in Oman Over the past 25 years, Oman has become aware of
the importance of a well-educated population to economic success. Having a highly skilled workforce is the key to higher wages and productivity. Education will become an important driver of Oman's GDP growth with its current share of 4.9% projected to climb to 6.2% by the end of 10th Five Year Plan (2021-2025). The education sector is looking to increase the career-long reskilling of workers in response to the 4th Industrial Revolution, automation and digitization of the workplace by increasing the public - private sector co-operation to drive digital skills. Muscat Governorate The most important Governorate in Oman is the Muscat Governorate. Apart from being the seat of power, the Muscat region provides captivating vistas of nature’s raw beauty coupled with fascinating facets of living antiquity. The Muttrah Corniche that connects Muscat with Port Sultan Qaboos presents visitors panoramic glimpses of golden beaches, shimmering sand dunes (Bawshar Sands) and majestic mountainous heights. Muscat is known to be a melting pot where ancient Omani cultural heritage blends effortlessly with contemporary tradition and style. One can see quaint houses with grand gates and small shops selling traditional ware in markets from a bygone era. For more information, visit: investinoman.om
CDP - FINANCING GREEN ENERGY FOR RURAL COMMUNITIES IN PERU Energy means development, especially in rural areas of Peru where a third of the population does not have continuous access to the electricity grid. A situation that has a significant impact on work, school activities and the right to healthcare. The distance between locations in remote and inaccessible areas, combined with inadequate communication routes has led the Peruvian government to take action by putting in place a National Rural Electrification Plan to increase electrification in rural areas to 96% in just under five years.
The project involves the installation and management of domestic photovoltaic systems that will supply electricity to various locations on the coast, mountains and in the Peruvian jungle, replacing the current sources of carbon-intensive energy (wood, manure, hydrocarbons, oil) with renewable sources. Cassa Depositi e Prestiti is supporting the Tozzi Green Group from Romagna in its work to install systems that will benefit families, schools and healthcare facilities in the most isolated areas, meeting energy needs for lighting and information.
CDP has provided financing amounting to €7.6 million to the company, which has been working as an integrated operator in the entire electricity production chain for over 30 years, for a project involving approximately 14,000 families. This high-impact initiative will allow access to green energy by creating new opportunities for growth and social inclusion with long-term benefits for rural Peruvian communities.
Cassa Depositi e Prestiti (CDP Group) We support Italy’s growth by using the country’s savings responsibly, in synergy with the Group companies. A united team, actively working daily to achieve the ambitious goals of our Business Plan, thanks to the commitment of all the Group Companies and its managers. We are a unique group in the Italian landscape, combining financial and industrial capabilities. We use our skills to serve Italy and the other countries we operate in, promoting growth and employment, supporting innovation and the competitiveness of businesses, infrastructure and the country. For more information, visit: cdp.it
BRAZIL LEADING ON INNOVATION
NGIF Cleantech Ventures is a $55 million industry-led venture capital fund that makes equity investments in cutting-edge clean technology startups. These ventures have solutions that lead to emissions reduction and other environmental benefits for the natural gas sector including the production of low-cost renewable natural gas and hydrogen.
EMISSIONS TESTING CENTRE
NGIF Capital Corporation operates NGIF Industry Grants (the original Natural Gas Innovation Fund), NGIF Emissions Testing Centre, and NGIF Cleantech Ventures. NGIF Capital Corporation is a subsidiary of CGA Enterprises, an organization created by the Canadian Gas Association.
The City of Innovation and your Gateway to Latin America www.investinbogota.org
A NEW DAY IN ENERGY MEASUREMENT
We are transforming the status quo in the industry we serve through continuous customer focused innovation.
End-to-end measurement solutions to natural gas utilities across the globe.
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