The Lamwyk Journal Spring 2014 edition

INTRODUCTION

Those who may follow me on LinkedIn, and please do if you would like to do so, will have picked up on my fight against the boring beige of so much content that is shared. It’s not enough simply to recognise it we need to push back with original content. The Lamwyk Journal is part of that positive push back.

Edward Goodchild Publisher

A WORD FROM TOM

It gives me immense pleasure to edit this Spring edition of our Lamwyk Journal. This would not have been possible without the support of our brilliant Lamwyk team. As we move further into 2024, this edition looks at some of the major innovations and challenges which could define our planet’s future.

Lamwyk began as a series of illuminating roundtable think-tank sessions convening leaders in business, scientific and civic spaces. Our members enjoyed intriguing discussions where these experts offered solutions to some of the most daunting issues facing us all. The reinvigorated Lamwyk Journal continues in that vein.

This Spring edition is packed with insights on everything from startup funding to global debt relief, cyber skills and the enduring value of local libraries. We hope you enjoy reading and wish you a positive and productive Spring.

Tom O’Brien Editor

Creative Design - Tiggy Gambarini

Front Cover Illustration - Angela Chick www.angelachick.com

Funding a new era of startups

From debit cards that remove plastic from oceans with every purchase to apps helping businesses to regulate their carbon footprint, many wonderful startups are addressing colossal global environmental challenges. Difficulties in funding their ventures is a challenge ambitious entrepreneurs never need, but regularly run into.

Entrepreneurs often look to venture capital (VC) firms to provide the level of funding that (particularly tech) startups need to scale. Unfortunately, the VC community can sometimes lack the cognitive diversity required to appreciate the size of potential markets for certain startups.

Funds’ senior decision-makers can often share the same backgrounds, worldviews and opinions about what makes a business investment-worthy. Just 11% of senior roles in VC firms are held by women. Worse still, this tiny percentage is a significant increase on previous years.

It is therefore (sadly) no surprise that only 3.5% of equity investment in the UK in the first half of 2023 went to female-led businesses.

HM Treasury currently estimates that up to £250 billion could be added to the UK economy if women established and scaled startups at the same rate as men.

So, how can the VC community diversify its investing to encourage this outstanding economic growth?

Using digital platforms to source investment is a great way for funds to connect with

wonderful, ambitious businesses who they might not encounter in traditional networks. Finding bright ideas that fit your investing requirements (including diversity and inclusion targets) all in one place makes reaching different founder communities so much easier.

BenchReady enables you to do exactly that in just a few clicks. Their team isn’t interested in who studied where or who’s in which club. The platform’s sole focus is in connecting talented founders with smart capital to ensure everyone’s maximum growth.

All the information about businesses on the platform is stored in secure, convenient portals. You can put the process of slogging through pile after pile of pitch decks behind you forever. You can then focus on finding ambitious, investment quality businesses from a diverse array of founders rapidly.

BenchReady can also help to increase the proportion of VC funding awarded to companies based outside of London. According to KPMG, only 50% of VC funding into the UK market in Q3 2023 went to businesses outside the capital. Levelling Up can only become a reality that changes communities for the better if innovative local businesses are able to thrive.

Now investors from around the world can be part of that positive social change without leaving their desks.

Image from Adobe Stock

A new phage in chemotherapy

Anyone who has battled cancer or witnessed a family member fight this awful disease knows just how gruelling chemotherapy can be. Anti-cancer drugs used in current chemotherapy treatments destroy intended cancer cells but can also damage healthy cells. Damage to these healthy cells around the body can lead to side-effects including hair loss, nosebleeds, mouth ulcers and digestive problems. A new form of treatment could significantly reduce these side effects by targeting cancer cells much more precisely.

Phages are viruses which attack diseasecausing bacteria without harming healthy bacteria. Researchers can already design phages so that they carry specific medicines that destroy specific bacteria. They hope to further develop these ‘designer phages’ to carry these medicines to specific cells. This innovation requires the genetic modification of phages so that they can fire specific antibodies and proteins at particular cells. This modification would enable anti-cancer

drugs carried by ‘designer phages’ to bind to and destroy cancer cells while reducing collateral damage to surrounding healthy cells.

A new era of ‘designer phages’ could drastically improve patients’ self-esteem and confidence while they are undergoing chemotherapy and hugely increase their quality of life.

Scientific discovery is entering a wonderful new era which could extend and improve human life in ways unimaginable only a few decades ago.

Image from Adobe Stock

Who owns Space?

Humans have spent millenia wondering what lies beyond the stars. In recent years, this wonder has taken on distinctly more commercial tones. According to Harvard Business Review, as far back as 2019 (before Covid) products in space (mainly satellites) accounted for approximately $366 billion in global trade. These satellites are found in low Earth orbit (160-2,000km into Space if travelling from Earth).

Without Space’s ever-increasing contribution to the global economy, society would quite literally stop working. Imagine a world where you couldn’t use the internet, make phone calls, watch television, listen to your favourite radio shows or do any banking.

You also wouldn’t be able to drive anywhere as a lack of GPS would prevent traffic lights from working, not to mention ruining your SatNav and other features of your car. Planes would also be unable to take off and a loss of contact between international governments and military infrastructure would place global security at huge risk.

An emerging range of key strategic transit points and trade hubs in Space require a completely new set of regulations to ensure

responsible Space use.

Imagine the Suez Canal, but with absolutely no regulations whatsoever governing access to it, and a whole range of governments and private companies vying to dominate it. Now picture absolute chaos multiplied by 10. Nobody wants that in Space.

More generally, how would businesses seek legal remedy if a disused satellite clattered into their space infrastructure?

What if that collision then created further space junk, which continued its path of destruction by clattering into a G20 country’s key military satellite? From intentional acts of aggression to complete accidents, a colossal range of potential space crises could spark anything from multi-billion pound legal claims to international conflict back on Earth.

If events beyond the stars follow earthly precedents, then increased trade in Space will lead to the increased militarisation of Space too.

International rivals should put their differences aside and agree on some fundamental rules for a newly commercial interstellar era. The last thing anyone on Earth needs is war in its orbit.

Image from NASA

Replacing debt burdens with climate security

Some of the world’s most climate-vulnerable countries are tragically amongst its poorest. At COP28 in December 2023, countries around the world committed to establishing a loss and damage fund to compensate these countries for the damage they will continue to suffer from extreme weather events linked to climate change. Germany and the UAE pledged $100 million each. The UK and US also pledged tens of millions and in total pledges to the fund reached $700 million. Sadly though, this fund alone is nowhere near sufficient to solve the challenges facing climate-vulnerable countries. Loss and damage from climate change is estimated at $400 billion annually. The agreed fund is the equivalent of approaching someone whose home has just burned down and offering to turn their life around with a free settee.

Climate-vulnerable countries need far more international support to protect their citizens in the face of increasingly hostile weather conditions. But they also need relief on their debt to allow them to grow their economies sustainably. Future generations deserve to prosper despite changing climates. This will not be possible if their governments are obliged to pay so much in servicing debts that they can’t budget for appropriate investment in new and emerging industries.

For example, Pakistan was faced with foreign debt obligations of $50 billion over five years in 2022. That same year, the country also suffered horrific floods which took more than 1,000 lives. How is Pakistan supposed to invest in protecting its land and economy from this scale of natural disaster while servicing such enormous debts?

Short-term debt bailouts don’t answer this question adequately. They just push the same debt burden further into Pakistan’s economic future. Other countries are struggling under debt burdens too. Chad suffered flooding which impacted 1 million people in 2022. The flooding was caused by their heaviest season of rainfall in over 30 years. Aid and other support arrived and a restructuring of Chad’s $3 billion in external debt was agreed, but no debt haircut came. Chad must still repay the same amount in full.

Countries shouldn’t be encouraged to borrow money they never repay, but it’s important for creditors to consider the longterm consequences of debt burdens too. If debt burdens are not relieved, they will almost certainly contribute to geopolitical crises with vastly greater human and financial costs than those suffered by creditors taking losses. The international community, including major creditors in both the East and the West should work together to give climate-vulnerable countries the debt relief they urgently need.

Imagine if the debt wasn’t there. Imagine what awesome tech solutions climatevulnerable countries could invest in to give their populations brighter futures. Surely that future is worth building?

Image from www.news.un.org IOM/Anne Schaefer | An aerial view of N’djamena

UK to ban hidden fees and fake reviews

Have you ever bought concert tickets online and seen a hefty booking fee stuck on just as you reach the end of the checkout? This is a common and expensive experience for many of us, with unavoidable hidden fees costing consumers £2.2 billion every year. As a result, the UK government proposes to ban these fees as part of a series of measures within the Digital Markets, Competition and Consumers Bill (DMCC) designed to make pricing clearer and fairer for consumers.

If the Bill passes, booking fees will need to be added to upfront prices so that consumers know exactly how much tickets will cost them. This removes confusion and also narrows the space for scammers to operate. If consumers haven’t purchased optional extras (like comfier seats) but still see extra charges being added to their bill, they will know that they’re on a dodgy website. Then they can close their browser

immediately and keep their money safe. The DMCC Bill also intends to ban fake reviews. The proposed legislation would make websites accountable for ensuring that the reviews they show are genuine. It won’t be good enough for websites just to blame a few members of their community and carry on regardless. New guidelines will force feedback platforms to verify that any review they publish comes from a real customer.

90% of consumers use reviews to inform their purchases. Therefore feedback platforms have a moral responsibility to ensure that those reviews provide the public with impartial guidance on where they can find the best value for money. It is deeply unfortunate that legislation is required to make certain businesses fulfil this responsibility and observe fairness in both the pricing and marketing of their products and services. Nonetheless, the world is as it is and the essential measures proposed by the DMCC Bill cannot come too soon.

Filling the cyber skills gap

Everywhere you look, cyber-sec is a top business priority. Unfortunately, businesses across the UK are struggling to recruit professionals with the cyber skills needed to secure their future growth. According to a government survey, 50% of all UK businesses have a basic cyber skills gap which equates to just 1 employee being responsible for the entire organisation’s cyber-sec. Shockingly, this figure also includes 12% of businesses with 250 staff or more. Here are some steps that all businesses can take to help their staff to upskill and start closing this gap.

Encourage all staff to attend cyber conferences

Conferences provide excellent opportunities for staff to stay up-to-date with the latest trends in cyber-sec. These events also allow them to network with cyber experts, increase their understanding of key concepts in cyber-sec and break down professional silos. Too often, cyber is seen as a ‘tech issue.’ With 32% of all UK businesses suffering a cyber-sec breach or attack from 2022-23, all staff need basic awareness of how to protect the digital environments they’re working in. Otherwise, businesses will only increase their vulnerability to hackers. The UK Cyber Security Council offers a regular series of events and conferences which would benefit any employee. Investing in awareness could help to prevent a much larger investment in recovering from a hack later on.

Give staff paid-leave to take cyber-sec training courses

Studying takes time and it’s immensely difficult to balance a demanding job with lectures, revision and examinations. Giving staff interested in cyber-sec the time to gain professional training in the area will allow you to quickly expand your in-house cyber team without needing to recruit externally. Celebrating colleagues’ cyber certifications across your social media pages will also show your clients how serious you are about keeping their information safe.

Encourage a company culture of cyber proficiency

By giving prizes and bonuses to staff who achieve cyber-sec accreditation, you’ll motivate as many of your colleagues as possible to increase their digital proficiency. The savings that you’ll make in reducing your risk of cyber breaches and strengthening your response to any attacks will easily repay the cost of these measures.

Businesses can and should do more to increase their teams’ cyber skills. If the current skills gap persists, UK businesses risk falling far behind foreign competitors in today’s increasingly hostile world.

Why the UK still needs libraries

Where was the first place you discovered the joy of books? For many people, that place was a public library. Whether they were learning something new, exploring magical worlds or travelling back in time, the books on local library shelves showed them a world outside of their own. Libraries have many other uses too as places for people to submit official documents digitally and learn new skills. Sadly, despite their enduring value, local libraries are closing across the country. Birmingham has fewer than 40. Bournemouth, Christchurch and Poole only have 24 between them.

Finding information online is easy providing that your family can both afford and receive a reliable internet connection. Measures taken to keep businesses and services going during the COVID-19 pandemic were supposed to herald a new era of digitisation across the UK. Yet as we entered 2023, 1.7 million households still lacked any internet access at all. Libraries are therefore among the only places where they can apply for an increasing range of online-only government services for free. If these libraries join the hundreds that have been closed over the last decade, then these individuals could lose their fundamental rights to apply for and access certain government support and resources as citizens.

Moreover, libraries provide expert support for people looking to upskill in a range of areas, from digital proficiency to improving their CVs. Lloyds Bank found that 8.5 million adults across the UK still lack basic digital skills, such as finding a website

online, keeping passwords safe and opening different applications on a digital device. Where will those adults find the support they need to build their careers and start digital business if their local library closes permanently?

Sadly, closures of local services can impact children and young people even more severely than adults. If children can’t access free books to learn about the world, where are our next generation of climate scientists, physicists, AI engineers and diplomats going to come from? A new era of global challenges requires not just out-of-box thinking, but never-before-seen thinking. Local libraries play a key role in building these thinking skills in young people who have excellent digital access and skills too. With so much fake news and even disinformation filling social media feeds, the sources of balanced, wellinformed and impartial information and opinion that libraries provide have never been more valuable.

If we lose even more of our public libraries, we will lose shocking quantities of human potential with them.

Photo by Jank Ferlic

Boosting tourism through data

The University of Cumbria is worldrenowned for its research in and teaching of conservation and forestry. But that’s not all. The University’s Centre for National Parks and Protected Areas is working with Cumbria Tourism to ensure that more visitors than ever before enjoy the County and wider region.

Researchers in the academic Rural and Visitor Economy Department are building a digital platform which will allow tourism authorities to gain unprecedented digital insights into exactly what motivates visitors to keep coming back and back. Since Cumbria is home to such a wonderful natural landscape, it’s essential that tourists make the most of everything on offer. From the beautifully colourful mauve stinger jellyfish to rare pine martens nestling in tree holes, there is a fabulous range of wildlife to admire which is unique to the north of the country. Then there’s the woodland. Some of Cumbria’s famous woodland has attracted visitors since 1600. Visitors can walk for miles and miles, enjoying wonderful

sights and smells while learning about the woodlands’ key role in preventing flooding and storing carbon.

Away from nature, there’s so much else to do in Cumbria. Fans of Beatrix Potter can visit multiple sites celebrating her life, legacy and most importantly - Peter Rabbit. There are no end of restaurants, theatres, art galleries and scenic shopping opportunities in picturesque towns to enjoy too. That’s why it’s so crucial that Cumbria Tourism knows exactly what motivates each visitor to enjoy holidays there. Every visitor is unique and every trip is special. Broad brush generalisations lead to local businesses missing out on crucial revenue. A more detailed approach can help visitors enjoy even better experiences, while supporting local businesses as they continue to recover from the legacy impacts of the COVID-19 pandemic. 2019 saw 47 million tourists visit Cumbria and contribute more than £3 billion to the local economy. Those times cannot return quickly enough.

It’s brilliant to see academia and business working so closely together for the benefit of local communities and our natural world.

The Jaguar you never knew you needed

When someone mentions a Jaguar, your first thought might be about impressive luxury cars. But there is another Jaguar that urgently needs your support. This is the majestic wild cat most frequently found in the Amazon Rainforest. Jaguars used to live in Southern USA and Argentina too. According to the World Wildlife Fund (WWF), they’ve lost half of their historic range in recent years. There are just 174,000 left on Earth, with this wonderful species deemed Near Threatened by the International Union for Conservation of Nature (IUCN).

This is devastating for all of us. Admittedly, the Jaguar’s gruesome devouring of other species is perhaps not the cheeriest way to obtain breakfast. Nevertheless, Jaguars play an essential role in regulating food chains throughout the Amazon. Without them, certain species could overpopulate and copiously munch plants acting as crucial oxygen and water sources for us all.

Moreover, the safety of the 47 million people who call the Amazon rainforest their home

is threatened as Jaguars are forced further from their natural habitats and into local communities.

Poaching is partly responsible for Jaguars’ decline. However, illegal and unsustainable logging practices pose the most significant threat to Jaguars welfare. Imagine you’re looking at a map of the UK. Multiply the space by three. That’s how much rainforest and other natural vegetation the Amazon lost from 1985-2021. Reversing this trend is the only way to provide Jaguars with the space they need to thrive and protect local ecosystems from irreversible damage.

You can play a key role in this by adopting a Jaguar. A wide number of charities allow you to support their work by symbolically adopting a Jaguar (or another animal) and donating monthly to help their campaigns to protect our forests. WWF is one of many who do key work in this area. Many of us assume that majestic species will be around forever. This will only be possible if we act now to protect them. Don’t let the Jaguar’s beautiful, rosette-covered coat become an historic memory.

Photo by vecstock

London-distilled Gilpin’s Gin offers smooth and delicate flavours from just eight fine botanicals creating the perfect taste balance.

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