Day 4 Thursday 16th June
Learning from the Cutting Edge
Agenda 9:30 9:40 10:00 10:30
11:00 11:15 11:50
DRIVEN BY INNOVATION
12:15 13:00
13:35 14:15 14:50 15:20
Dr Jo North – Port of Tyne Welcome and overview of the day Nusrat Ghani MP The Role of Innovation in Meeting Maritime 2050 Targets Dr Iain Percy OBE – Artemis Technologies Using High Performance Sector Insights to Inform Maritime Sustainability Halfdan Brustad - Equinor The Role of Innovation in Large Scale Infrastructure Development Break George Long – Accenture Accenture – Industry X Emma Faldon – Knowledge Transfer Network Effective technology transfer is highly Lunch Steve Rader Adopting R&D to cope with Relentless Change: Reflections on 10 Years of NASA's Innovation Efforts Ben Brabyn Lessons for Maritime from Fintech Innovation Connected Places Catapult Barriers to Private Investment - Panel Session Ian Hickling - National Police Chiefs Council Cyber Team Levelling Up the North East – Panel Discussion Dr Jo North – Port of Tyne Closing remarks
Please note, not all speakers used slides. Video content of the event also available.
USING HIGH PERFORMANCE SECTOR INSIGHTS TO INFORM MARITIME SUSTAINABILITY Confidential - Not to be copied | © 2022 Artemis Technologies Ltd.
Slides Pending
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Dogger Bank
Dogger Bank provides opportunities A world class asset in the heart of the North Sea • Supporting the UK’s green industrial revolution • Contribute to the industry transition and new jobs in the North-East
• Flagship for UK • The world’s largest offshore wind farm •
3.6+ GW (1 674 km²)
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18 TWh/yr ~6 million UK households
• Start first production July 2023 and Operations of wind farm for at least 35 years
8 |
Owners
Construction - Bringing innovation to UK offshore wind We needed to think radically new in bringing Dogger Bank competitive 1.
Deploying the world’s largest turbine, GE’s Haliade-X…swept area covers 4 football fields Break new grounds with rotor diameter above 200m (220M) and scale up We had already collaborated with GE to understand their efforts to re-enter the market
2.
Using an HVDC system, a UK offshore wind first Breaking new grounds, largest before was 800MW and asked the industry for 1200MW and unmanned - Largest capacity ever - Innovative solution saving 70% weight Here we used our HVDC experience from electrification of Troll gas field
Other: • …installed by the largest turbine installation vessel of its kind, the Voltaire, Jan De Nul •
..monopiles installed by the largest monopile installation vessel, the AlfaLift, Seaway 7. Deck handling system
All delivered through normal schedule for construction Require extensive interaction with technical experts 9
Operation - Bringing innovation to UK offshore wind •
Four state of the art SOV’s with daughter crafts for rough conditions Daughter crafts move technicians around the wind farm <1,7m Hs
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Motion compensated “Walk to Work” gangways
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Use of Digital innovation and data, and Robotics to reduce unplanned maintenance with at least 50%, and lifetime extension with at least 10 years*
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Proserv ECGTM inter array cable monitoring system represents a step-change in traditional monitoring methods, offering comprehensive visibility across cable assets.
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O&M building highest environmental standard - Environmentally friendly and low carbon impact
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Digital transformation - Reduce costs, improve efficiencies and safety in operations Digital Innovation: •
Use of robotics, drones and autonomous systems for inspection, maintenance and repairs: •
Above sea (blades / WTG and topside structures)
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Below sea (foundations / cables, surveys)
Using Data: •
Established Digitalisation group early and build on our competence
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High number of sensors deployed on the assets to support daily control room operations and condition based monitoring.
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Use of operational data to focus on:
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Decision support systems
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Failure predictions
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Remaining useful lifetime extension tools
Use of digital twin systems for asset learning, training and planning maintenance.
11 | NES Strategy Review Project
DIGITAL TWINS REAL WORLD APPLICATION
GEORGE LONG INDUSTRY X MANUFACTURING & OPERATIONS
DIGITAL TWINS – FIT FOR PURPOSE An increasing level of intelligence and data engineering in order to enable rapid scaling to add value PHYSICAL & ENGINEERING TWIN
• • • •
The twin creates a virtual copy of a physical asset or space Allows for planning in the capital project space Eng. twin supports design and testing Support training and upskilling prior to commencing work in a red zone
Based on a Database
INTELLIGENT TWIN
OPERATIONAL TWIN
• Replicates real world performance across an asset or value chain • Monitor production, downtime, carbon, financial etc. metrics • Allows for root cause analysis • Supports data driven decisions and alerts
Based on a Data Lake
• • •
Contextualised and harmonised data through a semantic data layer Rapid understanding and contextualisation of the OT data landscape Supports rapid scaling and closed loop automation
Based on a Knowledge Graph
Digital Twin Journey
Copyright © 2022 Accenture. All rights reserved.
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THE JOURNEY TOWARDS AUTONOMY
Tactical
BUSINESS IMPACT
Transformational
Bringing humans on the tech journey
HUMAN + MACHINE
INVOLVE THE WORKFORCE
LEARN FROM THE WORKFORCE
• Provide users with contextualized data, to act quicker and smarter • Use case driven – solve for key problems or opportunities • Create a foundational digital platform that will evolve with the business
Operational Twin Copyright © 2022 Accenture. All rights reserved.
COGNITIVE FACTORY EMBED INSIGHTS
DIGITALIZE KNOWLEDGE ALERTS & VISUALIZATION
INTEGRATE THE WORKFORCE
• Extract & formalize “tribal knowledge” as structured data • Start developing a knowledge graph with structured and unstructured data • Develop platform and governance to scale
• Enrich contextualized data with tailored insights (descriptive/predictive analytics) • Run total system optimization (human and machine) • Governance and platform integrated with operating procedures
DIGITAL TWIN JOURNEY
• System recommends appropriate and optimal action (prescriptive analytics), combining human + machine response • System continues to learn and evolve • Structured workforce / data science governance to develop use cases and insights
OPTIMISATION & EVOLUTION
CLOSED LOOP AUTONOMY • Self-learning, autonomous closed loop systems designed to Sense, Comprehend, Act, and Learn, human behaviour • Operators’ role and skills evolving focusing on complex activities and system evolution
Intelligent Twin 15
Maritime Innovation Week: Technology Transfer & Scale Up 16th June 2022gbh
Emma Fadlon PhD KTM Early Stage Investment Co-Director CyberASAP emma.fadlon@ktn-uk.org
www.ktn-uk.org
About Us Innovate UK KTN exists to connect innovators with new partners and new opportunities beyond their existing thinking – accelerating ambitious ideas into real-world solutions.
Diverse communities | Innovation Networks
Regional, national and global | Global Alliance
We connect
Research and business | Knowledge Transfer Partnerships Innovators, funders & collaborators | Innovation Exchange Insight to impact | Insight reports …for positive change
Innovate UK Group
Innovate UK
KTN
EDGE
Innovate UK is the UK’s innovation agency: a non-departmental public body operating at arm’s length from the Government as part of UKRI.
Innovate UK KTN exists to connect innovators with new partners and new opportunities beyond their existing thinking accelerating ambitious ideas into real-world solutions.
Innovate UK EDGE empowers innovation-driven businesses to grow at pace and achieve their industryand society-transforming ambitions.
Key Drivers of Successful Technology Transfer & Scale Up
Technology
Commercial
Legal
Financial
Value Proposition Performance Value Chain IP/IPR Roadmap
Demonstrator Traction Collaboration Turnkey solution Scalability – volume Scalability – market Cost of change
Legal Compliance Regulation National International
Grant Funding Project Finance Investment Asset Finance Loans
1. Technology What you do How you do it
The Importance of the Value Proposition Need to have a robust and evidenced Value Proposition • Quantified • Prioritised - Size of the problem - Clear market opportunity • USPs • Benefits against the cost to adopt • Segmented (market, vertical, region etc) • Product, goods, services • How will this change as you and or the market matures
Technology Where do you sit in the Value Chain? • • • • • • • •
Roadmap Key technical performance indicators Key commercial milestones Turnkey solution? Collaborators Partners Suppliers Reproducibility at ‘small’ scale/pilot
Demonstrators at scale Can you showcase? Need to provide evidence:• Size • Duration • Reliability • Reproducibility at scale • Reproducibility in environment • Sustainability/environmental impacts Credibility, site, partners, paid projects
KPI Assumptions Validated with who and how? • • • • • • •
Primary & secondary research Open Innovation Infrastructure hubs End user/customer engagement and support Specialist consultants, R&D providers Contractors Public and private technical centers of excellence (Catapults, APC etc) • Academic institutes
Intellectual Property & Rights Competitive advantage You must have an IP Strategy All types of IP & IPR you will be generating and how you want to protect them • • • • • •
Contracts (jurisdiction) Collaboration Agreements Consortia agreements (EU) Employment contracts Visitors/students Surveillance
2. Commercialisation How will you introduce your product or service into the market?
Roadmap Look at the project as a whole • • • •
Where do you sit in the value chain Systems based approach Stakeholders – management Compliance, ISO, legal, H&S, environmental • Societal ‘publics’ • Political Evidence of value & reproducibility
Risks Understand and mitigate • How can you influence your market? • How will customers hear about you? - Description - Performance claims - Positioning in the market - Pricing - Training - Stock/shelf life - Customer support - Post ‘sales’ activities
Skills & capability Who will make it happen • Technical • Commercial • Board/Technical Advisory Board/NED • Invest in yourself • Credibility • D&I • Persona • PR Strategy
Market TAM/SAM/SOM Exciting Market, targeted to the commercilisation plan • Total available market • Serviceable by geographic reach • Serviceable by what what will you capture now and and how Investors will use this to calculate ROI
3. Legal Compliance
Scalability Good governance and compliance • • • • • • • • • • •
H&S ISO Environmental HR Employment Contracts Incentives Commercial Contracts IP/IPR Loans, investment, asset finance Variations by jurisdictions Shares and options
4. Financial Plan How much will it cost to get to profit?
Funding & Finance Cost and time to achieve this?
• How much do you need? • When do you need it? • How does it align to milestones? • Where can you get the money from? Scale Up Inst & Deloitte report 2020 - £15Bn funding gap
Grants & Project Finance De-risk and validate • • • •
External validation Demonstrate traction Hard to find Match funding
Range of Sources: Local, regional and international governments EU, Third Sector, Corporates, SME private sector, Levy Boards
Scale Up Investors Angels, VCs, CVC People not Products - Strategic and or Portfolio Fit - Tax incentives (EIS) 1. Skills and contacts to deliver a scalable solution 2. Local knowledge and support 3. Understand the ‘rules’ 4. Access to diverse talent
Loans & Asset Finance Non-dilutive Later stage R&D • BBB, regional funds • Innovate UK • Investors (convertible loans) • Specialist banks • CVCs - link to asset finance (scalability)
What an investor is looking for
A great team •
Make sure you have the right team around you to make the company a success. • Think beyond your payroll, having the right advisors on your board can make a big difference to your credibility. • If you have a gap, don’t try to hide it.
A fantastic product •
Be clear about what makes your product so good and better than similar or competing products on the market. • The most important thing is explaining how you are going to make money from it. • Be clear about where you are in the development process.
An exciting market opportunity
A strong IP position •
A potential investor is going to want to know how you will protect your market position from copycats. • Do you have a patent, if so, where does it cover and how will you defend it? • Do you have design rights, trademarks or copyright?
•
Make it clear you know who is going to buy your product, where they are and how you are going to reach them. • Show you know what you are talking about, include trends in your target sector – is it growing and by how much?
A robust business plan •
Back up all your information in a coherent business plan, which includes financial data. • Provide a convincing case for investment – what do you expect the return on investment to be and what is the timeline to achieve this? • What is your exit strategy? Never too early to start thinking about it.
A credible valuation •
You need to provide a realistic valuation to investors. • Do not calculate the value by working out how much money you need and scaling it to the percentage of shares you are willing to give away. • Focus on existing sales, investment received and value of your IP.
Profit! •
They are looking at your company with the question: ‘Is this going to make me money?’ • There are sometimes other factors such as social impact, but this is not usually a core driver. • Make sure you have planned out your timelines and return on investment figures.
Investor’s see the following as challenges for scale ups Access to the market • Large corporates and government customers are difficult to reach • Local market knowledge and contacts to scale
Talent • Technical skills to scale • Founding team’s capabilities • Risk on delivery - agility, responsive, adaptable Growth Capital • Financial resilience: time to reach milestones to unlock further investment • Market trends • Cost (equity dilution) • Environment, social and corporate governance- evidence
What should you look for in a scale up investor? Value Add Relationship • In for the long run and 2-way – ‘hands on’ • Cultural fit, chemistry with the leadership team • Help you grow • Follow on investment/patient capital Thematic / values fit • Net zero/environmental/SDG • Networked in sector • Understand sector and nuances • Understand external factors/political, societal
Innovate UK KTN Team
THANK YOU Find out more @KTNUK
Sign up to our newsletters
www.ktn-uk.org
Lessons from Fintech Ben Brabyn @benbrabyn
Ben Brabyn @benbrabyn
Cyber Security:
Risks, Mitigations and Tools for Survival
www.cyberalarm.police.uk
Cyber Crime Real or Hype ?
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Cybercrime – a growing problem •
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Current Situation •
Constant new threats from the Internet
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Low rate of reporting obscures the true picture
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Failed attacks going unnoticed/unreported
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keeping up is a challenge
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Knowledge is key to defence
THERE HAVE ALWAYS BEEN RISKS
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DOS DDOS
Botnet
Malware Whaling Phishing
Hacking
Spyware Ransomware
Man in the Middle
OCG’s RAT’s v
Dark Web
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“It doesn’t always happen to somebody else…” 59
Your best investment ?
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Insider Risk
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Cyber Essentials and Cyber Essential +
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Trusted Wi-Fi Access
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Unintentional Information Release
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Unintentional Information Release
Social Media Review privacy settings Review your passwords Think before posting
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Safe at home?
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Tools and Services Reporting
Regional and Force Cyber crime units National Cyber Security Centre
Information sources Police CyberAlarm
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NCSC Active Cyber Defence
Protective Domain Name Service (PDNS): Prevents users from accessing domains or IPs that are known to contain malicious content and stops malware already on a network from calling home. Mail Check: Helps organisations assess their email security and adopt secure email standards Logging Made Easy (LME): Helps organisations install a basic logging capability for systems. Vulnerability Disclosure: Tools and services to improve vulnerability disclosure and remediation Exercise in a Box: Toolkit to practise and refine responses to cyber security incidents Suspicious Email Reporting Service (SERS); Report suspicious emails to report@phishing.gov.uk
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NCSC Active Cyber Defence
The NCSC Takedown Service: Finds malicious sites and contacts the host or owner to get them removed. Incident Notifications: Activity that suggests an active compromise of your system. Network Abuse Events: Indicators that your assets have been associated with malicious activity. Vulnerability Alerts: Vulnerable services running on your assets or you have a vulnerable port open. Web Check: Helps find and fix common security vulnerabilities in the websites that you manage
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• • • • • •
Cyber Incident Sharing Alerts Best practice Analysis Conversation Support
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Government, Industry and Academia UK only - free to join ~8,000 users and ~2,800 organisations
• •
OFFICIAL | NCSC Briefing (CiSP)| Jan 2017
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Who is Police CyberAlarm for? • Organisations with an online presence • Charities and voluntary organisations • Schools, Universities • Local Government • Any organisation that wants to support cyber policing by sharing data
www.cyberalarm.police.uk
How does it work?
www.cyberalarm.police.uk
Member Threat Report This report summarises potentially malicious/attack traffic seen via the CyberAlarm data collector on your organisations gateways
Summary Threat Report This report summarises potentially suspicious traffic seen by the CyberAlarm Data Collectors across all participating organisations.
Web Application Vulnerability Assessment This report details known potential vulnerabilities seen on the target URLs/addresses with the CyberAlarm Vulnerability Scanner.
www.cyberalarm.police.uk
Benefits for your Organisation Greater Understand of the cyber threats Data from the Police CyberAlarm system is used to provide feeds detailing the latest threats discovered across the member network, giving you the ability to update configurations and other security measures. Vulnerability Scanning Police CyberAlarm vulnerability Scanning can be used to scan your organisations website and external IP addresses for known vulnerabilities. Increase Efficiency of Evidence Gathering Police CyberAlarm provides suspicious activity reports to the Police automatically in an evidentially sound way, securing that if it is ever needed. Continuous Reporting Once installed Police CyberAlarm combines your organisations suspicious activity reports with other Members allow the police to have a detailed understand of the current threats you are facing. www.cyberalarm.police.uk
Ian Hickling E-mail: Ian.Hickling@cityoflondon.police.uk
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