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good morning and welcome to the second session of our final day of shift in 2020 after an interesting presentation by mr barrasso on transdisciplinary innovation a path to sustainable development we are now excited to give the floor and welcome mrs heather pace clark as she will deliver a presentation on using sustainability to innovate and create new opportunities if during this presentation you have prying questions or remarks you would like to give we ask you to use the question function within the go to webinar dashboard this seeing all attendees are muted for this session we will make sure your questions reach mrs pace clark but before we hand it over we would like to talk to you about her expertise and background she is the co-founder of gelatix an eth zurich spinoff that works with energy companies to accelerate the energy transition she has extensive experience in sustainability and innovation having worked at the united nations world economic forum ge power and france telecom she has a bachelor from smith college a master from harvard and an mba from lse hec paris and nyu now that you have a bit more background on today's guest speaker it's time to find out how companies can leverage sustainability to innovate and better meet customer needs please take it away mrs pace clark [Laughter] [Music] do [Music] hi so i hope that was an inspirational video for you to kick off the session so my company geolytics which i'll talk about in more detail later is actually using uh satellite data to help to accelerate the energy transition which is a really exciting adventure to be part of but first i thought i would tell you a little bit about how i ended up as the co-founder of a startup without any experience in data science and i guess to kick it off i wanted to know a little bit more about the audience with a poll so how many of you are currently on the job search i think there's going to be a poll that will appear and then the second question was what kind of job are you looking for are you interested maybe in starting your own company would you rather join another company work for someone else just to get a feel for where you are so maybe if we could quickly look at the results when we're done with that can we see some results is there any out there yet so 50 aren't looking for a job okay lucky you and 50 are so that's nice and even and what about the kinds of jobs we're looking for let's see uh fifty percent one start your own company okay great and ten percent family and twenty percent a big company okay that's interesting insight to have so i can tell you a little bit my journey and how i ended up working for a big company and then a smaller company but let me make sure you can see me i here the slides are going to appear in a second great so uh i'm just going to make sure i can transition here what i think is maybe fun to say is that i actually come from a hotel family so my dad uh studied at the hotel school in lausanne and his first job was working um i think at the beau rivage palace in lausanne and then working with hilton corporation and ultimately having his own hotel so my first job is actually working in the family hotel making salad and bread in the restaurant so i have a lot of respect for people in the hospitality industry i know it's not an easy job and it takes lots of patience and time i also want to just switch the slides here let's just see what i need to do just to switch to the next slide there we go so here you can see the palace in lausanne and the waldorf astoria where my dad was the manager when he was working for the hilton corporation and then the holiday inn the family hotel where i really learned about how hard it is to be in the hospitality industry but just how exciting it is and i think that working in that industry gives you really good skills for life because you have to really put the customer at the heart of everything that you do and you have to innovate and be agile and flexible to succeed so my father wanted me to join the hotel business but i was a little bit deviant and decided that i wanted to save the world and join the un so in my journey i also did this mba as was mentioned earlier and one of our favorite professors was telev who actually wrote this famous book called the black swan which is about how hard it is to really protect the future that even if we have the best data we can't really predict what's coming and there are a lot of big events like covid that are rare that we are really not prepared to deal with so my experience has been that sustainability can really help us to address these crises and to create new opportunities so that's what i wanted to share with you today so i guess you've been talking a lot about sustainability and what it is about the sustainable development goals and there's a lot of focus particularly today on the climate crisis and environment i wanted to just sort of make the case for the importance of putting the human at the center of all these activities and really thinking about the social and the economic drivers that are key to really implementing a effective sustainability strategy so one of my favorite thinkers in this area actually came up with a term called triple bottom line which is really about looking at the social economic and environmental aspects of sustainability all together and then by looking at these you can actually create new opportunities and better meet your customer needs and that's kind of where i've tried to focus my career and where i think you can have a lot of fun along the way so i wanted to save the world i wanted to become a diplomat so i started out at the u.n in a lot of big meetings it was a great opportunity this is a picture of the pale de nacion in geneva not so far away from juan montana and i sat in a lot of really exciting meetings but they were pretty boring there were a lot of reports written that never actually got used so i got a little bit frustrated so then i decided to transition to the world economic forum because i wanted to actually work more with businesses and it was really exciting because i was able to still work with the un and build partnerships between the private sector and the un and i think that's a key point when it comes to sustainability today and innovation it's really all about partnership and bringing different sectors to work together because sustainability is really driven by regulation and what the government requires and then bringing civil society and business along so when i was at the west and we first started talking a lot about sustainability it was really a lot about philanthropy it was a lot about charity so it's really been important over the last few years to transition from what was just charity and philanthropy and doing good to really what is about creating a shared value and actually thinking about integrating sustainability into your business activities to really make it effective so bill gates is a really interesting example of that with his foundation which did fantastic work particularly in the health field we've all heard recently about his work with vaccines and now he's actually investing in energy companies to make those investments even more sustainable so they can last over the long term so after some time at the west i thought it's a lot of fun to go to these big meetings and meet some cool people i got to ride in a car with bono that was very exciting i got to give a cook to bill gates and do some really important advocacy work and build partnerships but i really wanted to get my hands dirty and move into the business sector and really make sustainability happen more directly so then i transitioned to the private sector but i think what is interesting to mention is that i sort of experience one of the first crises and another aspect of sustainability that's important that maybe it doesn't get talked about very much it's a lot about ethics and it's about the responsible behavior of business executives and employees to do things like fight corruption particularly in emerging markets where it can be a big problem so when i was actually working at the west we had a major crisis uh enron was accused of some fraud and they were actually chairing the world economic forum the annual meeting one of the years that i was there and it was just a reminder of really the importance of ethics and when you're dealing with sustainability and making sure that there's a there's an ethical aspect to it but also when it comes to these crises how do you actually how do you actually reinvent yourself and and manage along your career journey so this was a big turning point this along with the dot-com bust where we all saw the stock market lose a lot of value and we had to really rethink how we create value for ourselves and for our clients so one of the great thinkers around this again um mr elkington is shown here he's the one who came up with the triple bottom line idea and i first started working with him while i was at the weft and he's a great guy to follow if you want to stay on top of sustainability trends this is from one of his latest presentations of the b corps the b corps is a really interesting organization for you to know about they have an office in geneva and they basically certify businesses globally for certain sustainability standards so these are a group of businesses that really put sustainability at the heart of everything that they do there are a lot of them that are actually in the hospitality industry so it might be interesting for you to look at them and see what they're doing all kinds of exciting things to come up with more eco-friendly business models and more customer friendly business models so he was presenting to all of the core businesses and he talked about really the covet crisis and where we are right now and really what it's about is looking at how you can deal with all of this uncertainty and also a lot of the social resistance and the political issues that we have to deal with right now so obviously it's a very difficult dip that we're going through now but a lot of innovation can come out of that so it's really about thinking about what are the new opportunities that you can already engage in particularly if you want to start your own business or even as part of a bigger business what are the kinds of activities and the new opportunities that we might be able to create out of this dip to better meet customer needs so this is kind of a fun drawing of how you might visualize what all this uncertainty means so clearly it means that we have to really rethink capitalism and how it's working but we also need to have sort of a tech mindset and sort of bring the startup methodology to a lot of different things that we do and that just means trying new business models testing new ideas seeing how they work leveraging things like artificial intelligence and other kinds of big data to really better understand trends and so i think this is sort of an interesting visualization of how we can both address the sustainable development goals but also create new growth and new business opportunities with business models um that are really really changing and new and new ideas that i think all of you could develop in the hospitality industry if that's where you choose to stay so back to my journey into the private sector i actually joined france telecom and that was exciting i was managing their sustainability activities and of course recycling mobile phones was really important and looking at reducing carbon that was really important but i think what was even more valuable was the stakeholder engagement that we did to really understand what were the needs of our clients and how we could better meet them so we did a whole series of interviews with clients and also with ngos with political leaders with the media to understand what do they really need and we identified a whole new range of opportunities and also risks that we have to manage better so for example when we talk to clients in emerging markets in africa they didn't have any banking source and they also needed health services and we were able to use our mobile service activities to deliver the mobile phone banking which was a great project and to do that before people in europe were using mobile phone banking so we were able to bring together a coalition of governments people working in r d in the company and also small micro enterprises to actually deliver a mobile phone banking platform which created a lot of new opportunities for entrepreneurs and it was a really exciting thing to be part of another big thing that we had to do there was for example work on privacy standards and work on human rights issues because that was actually a big concern for our clients to feel that we were using their data in a responsible way and that we were also giving them giving them a way to manage their own data and privacy so those were not really environmental aspects but they were key social i would say socially driven activities that were able to generate a lot of revenue for the company while also allowing us to really uh be more be more sustainable then there was another crash so actually i went to harvard and i did my my master's and um it was interesting because i had a contract and the job got cancelled because there was such a crisis in the economy at the time so it was interesting to think okay how do i reinvent myself i have years of sustainability experience but i couldn't get a job in sustainability because most of the jobs disappeared because they weren't considered part of the core business so i had to really rethink what i was going to do so the only job that i could get at that time where i was living was actually a job in marketing and public relations and this is something i would have never considered before but i ended up really enjoying it so i worked with a very large solar company and this was another case where we saw sustainability was a way to differentiate so you can see this solar module here so if you look at a solar module they all look the same so it's a little bit hard to differentiate but what we were able to do was to look at what was unique about our solution which is that it was much more green if you want to call it that than the other products provided by our competitors they were using coal-fired power plants to produce these modules and we were using hydropower so the carbon footprint of our solution was actually much lighter so we were able to really do some interesting marketing around this and to increase our sales and then also to do some things around european production or u.s production to then get a premium for our product we were able to do the production in europe and in the us and really secure more jobs in those markets which was a great thing to be part of and it was an interesting way again to use sustainability to really drive drive growth and an interesting example of how you can pivot and you have to pivot sometimes to find a job and to expand your skill set and find something new that you maybe didn't expect which was the case for me in that situation then if we continue to the next slide it seems to be a slow up okay so then i thought i want to go to even bigger company you know there's some brand names you really want to work for i don't know what they are in the hotel business maybe you want to work for the four seasons uh in energy ge was sort of the gold standard so everyone wanted to work there because they had the biggest portfolio of products when it came to energy they were doing everything and one of their really interesting campaigns was called ecoimagination and it's a great example of how to use sustainability as part of your strategy but also as part of your brand and marketing activities they invested a lot of money in r d to develop new products to better meet customer needs trying to transition from uh coal fired power plants uh and nuclear to other kinds of technology including software so it was a really exciting company to be part of and this ecoimagination campaign was very interesting and it was a full program that went on for several years there are a lot of case studies available about it so to encourage you to read those and learn a little bit about how y u can really integrate sustainability into your strategy and into your marketing activities and then uh what was kind of interesting was that we had to transition in the company to really become more digital and this is something that's going on everywhere i'm sure you're all aware of it with the fourth industrial revolution industrial revolution we have to really think about how to leverage data and how to make things more automated and really uh be more efficient and optimize our activities so ge wanted to do the same thing and it also was a lot about innovation so in order to continually innovate we introduced a program to actually bring silicon valley methodology called fastworks um basically based on something that a writer called eric reeves developed to figure out how to pivot and change and innovate in the company more quickly and come up with new products and this is also again about putting the customer at the heart of everything that we did constantly trying to come up with a minimal viable product if we saw that there was a need we would develop a small prototype test that with a client see if it would add value one of the biggest examples was something called a digital twin so i could take a gas turbine and i could make a digital model of that and i can monitor the activity of that gas turbine and figure out when it needed to be repaired and do a lot of things to optimize the performance of the fleet using the power of big data so it was an exciting thing to be part of to make sure that we could really innovate at the pace that we needed to and to try and roll this out into the company it was a it was a great experience but i have to say not to spoil the uh the story actually the company went through a lot a lot of problems after this and there were many challenges in the market because we really didn't see the shift to renewable energy coming as early as we needed to and this was largely due to really not having the best data on the market but also really not having the best data from our customers about what they cared about and where they were going so even though we had a great sustainability strategy we had this great innovation approach internally we still were not really on top of what our customer needs were and so i think that that's an important lesson is that even if you have all of these great programs internally and sustainability is a key driver of the organization if you don't listen to your clients and really have the right data then a lot of things can go wrong so here's a quote talking about how fast works this kind of startup approach didn't really didn't really deliver what everyone expected and the company went through a lot of challenges so after that situation with ge working for a big company i really thought and said okay if i want to make a difference if i really want to create a sustainable business i probably need to create my own business so i pivoted again and this is after my mba i focused on entrepreneurship and i just started learning as much as i could about entrepreneurship and startups so i went to a lot of these networking events that happen a lot in zurich and in lausanne so you can actually do them virtually from the comfort of your own home you can meet a lot of really great thinkers who have their ideas about starting a business and you can actually work with them so i went to something called speed dating and i met my co-founders this is an example of one that took place this week so i encourage you to look at those opportunities if you want to start your own business and see who's out there and really learn from them so i did a lot of listening talking to other co-founders thinking about what are my skills what can i really do to add value building on my my energy experience and it was a great chance to learn and so i really would encourage you to look at those opportunities and that's where i started working with a lot of eth organizations including the entrepreneurship and innovation lab where our company currently sits so it's a really inspiring place to be because there are a lot of people that are building their own companies so you can learn a lot from them in the process and more and more sustainability is at the core of what these startups are doing so there are also very specific programs where you can really look at sustainability and how to integrate that into your business model so what do we do the the story is kind of getting back to where we started so geolytics is an hth spin-off and really what we do is we take all of this great data that you saw in the beginning from the satellite imagery and we make it easier to plan new infrastructure so what you see here in the background is svb one of our clients they have a lot of lines that they have to repair so that can include building new lines repairing old lines building new railway so we can basically automate this process and make it much more digitized so we take the data and we combine it with 2d and 3d visuals and give them the tools that they need to better communicate and this is really critical now as they try and better serve the needs of their clients from their desks so instead of going out into the field as much as they used to in the past they actually have to do a lot of this sitting behind their desk somewhere so we're helping many clients to automate this planning and then our ultimate goal really is to contribute to the energy transition and become the software standard for planning of this kind of infrastructure so i'll just touch briefly on what the planning problem is i think this is a problem in most industries i think in hospitality airbnb and kayak many other players have really helped to digitize the industry but in many other industries they're much more behind the curve because they haven't had to change and adapt so quickly so most of the projects that we deal with are actually over budget and there's millions of euros that are lost in the process and they're often very very late so many of the things are manual so looking at these kind of gaps is a way that you can identify potential opportunities in any industry there also is a lot of social resistance so definitely there are very large environmental concerns but there are equally a lot of social concerns there's a lot of social resistance when it comes to where you're putting new infrastructure i think it's the same thing when you're trying to decide where to put a new resort there's a lot of resistance often in the communities so you have to think about what's the most responsible way to do this to engage all the local stakeholders so we can get approval for the project but do it in a in a sustainable way so what we do is really try to help to address the concerns that landowners that ngos that governments might have to make a new infrastructure to make this process easier and faster so here's actually a demo of the software so this is basically taking a lot of satellite imagery and generating the root for a power line in colombia so i realized this is a little bit far away from hotels but it's just a way to visualize how we can quickly and easily take data and cover hundreds of kilometers of rainforest in columbia to figure out where you place a new power line in the most optimal way so you basically figure out what data you want to measure you can then select parameters and generate as many scenarios as you need and then visualize the route in 2d and 3d and also in augmented reality so it's a very interesting way to make the whole process more interactive and engaging and more accurate and then these analytics can tell you for example what's the cost of the project going to be how much co2 is going to be consumed when doing the project as well as giving you output that you can easily share and communicate with other stakeholders so i think the same kind of ideas better visualization better data management could also apply to your industries just to cover geospatial data because it's usually not clear to a lot of us usually i say the product is basically like google maps for infrastructure so if you want to figure out how to get to starbucks then the closest one to you just take your mobile phone and you type into google maps and it tells you exactly how to get there and how much it's going to cost you if you take an uber we're basically doing the same thing for the infrastructure business so you take all kinds of layers of data it can be social economic uh environmental all kinds of data and put it into our algorithm and basically do a lot of processing mathematical modeling and then from that we're able to generate the root so why is the time now i guess as we all look at the future we need to think about where are the opportunities and there's a lot of discussion on going about investing in sustainable infrastructure and really thinking about how to make these projects more effective so we think it's the right time to have a technology that's improving performance through digitization so i think it's great for all of you as well in your own journeys to think about what are the opportunities out there given the current climate climate where are people investing so i would recommend that you kind of keep abreast of current affairs and try and see where these investments are going to be made another one of our clients is swiss grid so basically they use the tool to be more efficient and to make the whole process more transparent so having better data management better visualization it can really help to improve communication and and make our customers happier which again applies to the hospitality industry as well i think so to take it back to john elkington who i mentioned earlier the founder of the triple bottom line he also is writing a lot he has a great blog and one of his most recent books has looked at really how we need to look at the black swan as an opportunity to create green swans to create new business models and new ideas and to test them to really create a new kind of capitalism that has sustainability at the heart so i think that's an exciting challenge that all of you can take on uh thinking about really in the hospitality industry what are the kinds of new business models that are needed how can we better meet customer needs there are a lot of great examples out there uh bcore is one place to start but i think it's an exciting time to be working in that industry and seeing how you can help to drive the innovation forward so just to get to the next slide so i wanted to leave you with a call to action uh i mentioned earlier that i work out of the eth and zurich there's a great competition called venture that's actually run by the eth but also by epfl the german government and it's completely free you do not need to be a student at the eth or epfl to participate i think most of it will be online this year but basically it's a competition where you can develop your ideas to start a new business so it's sort of a set of timelines that you have to follow to develop a business plan to identify a team to work with you and to really develop your business model and you get a lot of free support from the government you get access to a lot of great free coaches who have a lot of expertise in entrepreneurship you get a lot of free training on intellectual property all kinds of topics that are really relevant you also get a great opportunity to meet with other people if you also want to develop businesses and you can ask them to join your team if you don't have your own idea you can join another team so it's a great way to test if you like entrepreneurship you can really see if you want to start your own business if it's something you want to move forward with this is a really really great process to do that so the submissions are open and it's not very complicated to do a submission it's just a short powerpoint and you can you can submit your idea and still benefit from all of the resources for several months so it's a great way to test and to challenge yourself a little bit and meet some really great people so i encourage you all to participate in that if you're interested there's also a impact hub in zurich they're also in geneva i think in lausanne they have a lot of great ideas linking business with sustainability so a really popular buzzword for the moment is something called circular economy i guess you heard about it really looking at the life cycle of products and thinking about how to reuse everything and to reduce waste there are a lot of great ideas around food for example in this area so they also have the impact hub a series of free training courses and also a accelerator where you can submit your idea and get feedback and get free coaching and join a community working on these topics again it's totally free all the events are available online so i'd encourage you to look at those events think about attending some and just get a feel for if you think it's the right area for you so i wanted to end uh with a little bit of inspiration from conrad hilton so i'm sure you've all heard of the famous hilton corporation of course now we look at airbnb and see how they maybe have pivoted faster and put hilton a lot of other hotel tunes under pressure but i think he had a lot of good things to say about the importance of really trying different things and that you won't always succeed and failure is okay but it's part of the learning process and it's certainly part of the innovation process and certainly part of the sustainability process a lot of people working in this area including john elkington were rejected many many times before they could even get an article published on the topic because people weren't taking it seriously so we all need to just keep trying and keep experimenting and keep innovating and i wish you the best of luck in doing that through your job search or through the creation of your own businesses so i think that's everything on my side for the moment well thank you very much that's uh that's great that was really interesting to to hear that and obviously it's very interesting to as opposed to looking to black swans to rather look at green's ones i mean i'll find them a bit strange to see but it's obviously a figure of speech but definitely uh nice to move away from uh looking at the opportunities only and i mean this is also definitely um we've got some questions so i'm gonna start with those but when it comes to uh a new kind of way of uh of rethinking how we are using products with when you just said about the circular economy are we using that enough do you mean that also like as truly giving products a second life or are we really looking more into how we can better recycle certain products whether that being a clothing electronics or resources for that matter yeah there are a lot of different business models so uh it's usually about thinking about how to reuse projects products it's definitely one way like things related to food waste if you know the uh the app good to go too good to go yes yeah exactly so for example they have a great way to address food waste so that you can you know at the last minute buy all this food at a great discount and prevent a lot of food waste so that's one example there are things like clothing so one of the startups that we worked with was sending a box of baby clothing every few months basically preventing a lot of waste as kids were growing quite quickly uh throwing away clothes so that's another interesting model it was a subscription model there are many many great examples and uh i encourage all of you because it's probably closely linked to the food and beverage industry and hospitality to think about opportunities there yeah it's actually a better way to see all um surpluses of food being thrown away to still be able to give that item a good cause or to be able to resell that still if it's still in good order it's obviously much better i've got a question coming in from marnix four saying um how do you think capitalism is as a sustainable system for the future yeah i think it's a good question i mean i've got this book capitalism by pickity and my bookshelf i started reading it but i didn't finish it i think we need to really be more realistic about growth so we can't probably have the same levels of growth that we've had in the past so we need to be really more accepting of slow growth and that's the way of the future and that should make it easier to have a more sustainable growth so i think that's definitely part of it and probably a little bit more government regulation is required if you really want to be sustainable we're going to have to have a little bit more regulation probably have a price on carbon to really change behavior so i think there's definitely a role for government to potentially get more involved in several situations do you feel that there's not enough legislation in that sense or or that we are because i mean obviously we're having some companies that are very high into i would governments itself there they've been driving economies for a long time we're we're obviously touching the fact that you've worked for ge power these electricity companies are now making the shift uh but obviously within their supply chain we're having a lot of companies that are dealing with fossil fuels that are powering these uh the the centrals and everything are doing enough to make the change uh the bigger oil companies uh you know for instance just advocate because obviously sustainable renewable energy is one thing but obviously we still have a supply chain of a lot of companies that are dealing necessarily with necessarily with things that are good for the environment what do you feel yeah so definitely uh they're not going to change unless there's more regulatory pressure so one of the great things about a startup is you can work with all of these clients including oil and gas companies and try and push them to digitize further and to build this new renewable energy infrastructure faster so from what i've seen also with sustainability if it wasn't mandated by the government it was very difficult to push it forward unless the company saw a business opportunity there which is why it's really important to business skills and use a business model approach to sustainability to make it really sustainable and and do you feel that that people are now uh well obviously they're going to have to reinvent themselves to some extent because we're probably still going to see an economic recession happen after this pendef pandemic is really truly over but do you feel that they're going to be using sustainability as a driver to to get business or do you feel that now we are starting really to see the shift within people's mindset in order to want to have sustain as the forefront of everything that they do i think it do you see consumers particularly millennials are really seeing this as a core driver for their decision making what they buy so as the consumer decides that they want more responsible goods then that's really going to make the ships happen so it's really about understanding your customer and understanding the shift that's going on in their mindsets i think that's definitely key but people will still be sensitive to price so that's kind of uh the reality we're going to deal with yeah now i mean obviously a renewable energy is is one thing uh and such on that as well with mario who's asked another question uh would you discourage the using nuclear energy as an energy source and why yes or why not i mean obviously we have difficulty getting rid of the waste but in itself nuclear is a very efficient process obviously to gain energy from but obviously we're left with weights that is very difficult to to deal with what do you think yeah well i think going back to the data point and just how important it is to manage data for example in switzerland when they were building these nuclear power plants they didn't actually actually calculate into the costings the cost of managing the waste which is kind of unbelievable but it just shows how hard it is to think about things in a sustainable way and the overall life cycle of a product so i would say it really depends on the country so the citizens have to decide if they are comfortable with this and so france thinks it's fine that's great they have systems to manage it italy germany and they have a different opinion so i think it's really up to the citizens in each country to decide really what's what's best for them should this be driven more by the europe as a as a factor like as a collective or do you feel that this is up for the governments in their own in their own right to think i think to be realistic it's gonna be really uh on a case-by-case basis so i think that every government is gonna decide what's best for their for their citizens and that's just the reality the sustainability things that really work are local initiatives it's local citizens expressing their mind expressing their viewpoint um and i think that there's no one-fit solution for everything yeah no no definitely not i got another question coming off yoka tusma who's saying is the dare to venture forward available to students outside of switzerland as well you know what um i'm not sure what the requirements are it was before of course when things were not online you had to be a resident of switzerland it's worth looking at their looking at their website probably if you join a team that's led by someone who is swiss-based there could be the potential to join so i would i would look into that i can't give a complete answer but it would be worth exploring well that's yeah yolk i would say go try to look it up on the web and then see what the actual requirements are and us if if it is open to students outside of switzerland please pass it on i mean obviously we need as much ideas as we can get to help us save the place the impact hub is globally active they're all over the world so impact hub is really in almost every country so i would look at the impact of network in your area and see see where the closest one is because it's also a good entry point to similar activities yeah i mean uh when it comes to to to entrepreneurship you said there is still a lot of opportunities now that are going to be coming in regards to sustainability for entrepreneurs um do you feel that this is still in a traditional capitalist one like there's a couple people and that are then at the peak of of this particular job venture that they're starting up or this just job opportunity because mr barroso i'm trying to point back to the previous presentation that we had he said he that it is not a singular effort anymore but it should become more a collective success he says not necessarily cap well reinventing capitalist society perhaps but he said um it should be a collective success from a community of people and what are your thoughts and on this and potentially moving towards a transdisciplinary society yeah well i would say definitely partnership is key if we look at hospitality airbnb i mean they're being regulated in different ways in different countries and clearly if they want to continue to operate they have to work with local governments and local communities who are really not happy about the way they operate so you definitely need to have this partnership of course it's transdisciplinary absolutely and it's about partnership and working together with different groups to really get the communities to to buy into these new business models which are quite scary for people so that's why i think the social aspect is really key because a lot of these things include you know bringing on new technologies that people are quite afraid of because they're afraid they'll lose their job they'll lose their status and in some cases they will so we have to think of responsible ways to help them make the transition to make these big step changes that we need to be more sustainable right right now i still have a remark coming off miss fav rebuild she's saying we are actually at la roche we are also on too good to go so events or people want yeah exactly so we have a lot of food that is being produced and obviously not all the food necessarily gets eaten all the time so you can indeed also buy uh great portions of food for a really reduced price within la roche so that's pretty cool yeah no the last point no no go ahead sorry go ahead no i just would say that i'm sure that you amongst the students if you look at good too good to go there are other ideas that you could have that you could pilot that would be just as interesting so i encourage you to brainstorm together and think of some of them if you want to start your own business there's also a lot of funding from the swiss government available as well right so for those who are local they're really opportunities and funding specifically to sponsor sustainable enterprises so that's the difference the government giving money for that yeah now but we were starting an innovation hub within la rush in which we are also trying to push for this entrepreneurial minds mindset to be developed even further and that people can even leave with a potential business once they graduate with us or or they continue working we have industry experts that are coming in to help our students to to start these processes and in the end their success is our success so we're just trying to nurture this uh this way and obviously it will have to be more and more into sustainability so i was just still curious about geolytics as a final point obviously that started off in switzerland as an eth uh spin-off as you said you showed us an example of this is focusing on colombia i think it was or or south american country where you are showing where the power line should be put are you feeling that for geolytics this is a a very big market to go and look into to make the right decisions when it comes to creating new energy uh or power lines whatsoever so that they don't cut away from the forest that are also so important for the worlds in that sense are you really feeling the brick countries are very yeah yeah we see huge opportunity in um in south america potentially also in africa and the middle east where there are billion people that don't have power so there are a lot of people who really need energy and they want to provide it in the most responsible way so yes there are a lot of opportunities in in those countries in addition to europe because there's a whole transformation going on but definitely north and south um as well yeah okay well this that's great that's great i mean as a final point if people will you've already said just you have reinvented yourself in the time of crisis uh i don't know it was at the dot-com bubble i think said you had to reinvent yourself or right there after let's let's think in a not necessarily the most positive outset but we're going to have a lot of waves of people going broke people business going out of business how would you feel what is your advice to people how can they best reinvent themselves how would you say take these steps as a final point to um how can they reinvent themselves how can they go ahead in order to and afterwards come out back on top having learned something yeah i think it's good to talk to people who've done it and particularly people who maybe are in your industry in hospitality who have done it so i think really networking is really really key and getting inspired from people who've done it because you can't do it alone that would be the number one point you really cannot do it alone you need partners you need co-founders if you're starting a business and we're really lucky here in switzerland and also online you can access so many things for free attend so many conferences really networking and learning from other people and getting a coalition behind you maybe even a mentor who can listen to you and guide you through the process that's really critical because if you do it alone you're much less likely to be to be effective and it just takes longer and it's less fun so build a coalition for yourself yeah excellent well that led me uh to just thank you much uh miss heather pays clark i don't know if i should say pace clark all the time i don't know if that's the right way to say it's okay that's great but uh best of luck to everybody have a nice weekend and uh get out of there thank you very much find uh we truly appreciate the time that you've put into this presentation and your wealth of knowledge obviously having worked for all these different put on all the different hats and obviously you have learned something in all of these experiences that you've had in the past and now obviously you're using that to push genetics forward so um very interesting and i would like to just uh also end saying to everybody if you still have any questions or remarks that you have thought of after this presentation will be ending that you can just get in touch with us at the shift in uh organization and we will get in touch with mr clark to pass you those notes on and i mean dare to venture forward please look at that as well and i would like to let you know that we do have a keynote this afternoon starting at 2 30 p.m central european time from oceanic global and the partnership that it has with laroche so if you guys have not yet signed up for this particular let's do and that and we look forward to seeing you there once again thank you very much heather and i wish you a very pleasant continuation of your day and thank you everyone for having joined us for this presentation thanks bye bye you