Innovations with impact
◆ Panels discuss novel approaches to diversity in the sector, accessing funding, building communities, and net-zero
Panel sessions and fireside chats at the Scottish National Investment Bank’s Investing with Impact: Innovating Across Scotland conference covered a range of topics, including communities, funding innovative models, diversity and net-zero.
The first panel session of the day, chaired by Insider Media group editorial director Miri Thomas, focused on “transforming communities so people can thrive”, with Gavin Rodgers, CEO of Lothian Broadband Network; David Whiteford OBE, group chairman of Highland Coast Hotels; Susan Aktemel, founder of Homes for Good, and Stephen Muers, CEO of Big Society Capital.
They explained how their organisations play a role in transforming communities, with Whiteford saying its seven hotels on or around the North Coast 500 route are used by local people and groups, as well as tourists, to help stimulate entrepreneurship and create employment opportunities.
Rodgers said Lothian Broadband Network had used investment from the Bank to improve internet access in remote Highland communities, which can help tackle the issue of depopulation.
Aktemel explained that a key question in impact investment should be to ask: “How does your business make people’s lives better?” And Muers described his areas of focus, including opportunities around investing in “tech for good”, an area in which Scotland has achieved success.
During the first fireside chat of the afternoon, Simon Forrest, CEO of Nova Innovation; Clare Wareing, CEO of Cumulus Oncology, and Phil Chambers, CEO of Orbex, discussed funding innovative models to drive productivity.
On the question of supporting entrepreneurship, Wareing said that while Scotland does this relatively well, there is room for improvement and pointed to “successful ecosystems”, such as San Francisco and Boston.
Forrest said that Scotland is fortunate in having the natural resources for tidal power and that he has found Edinburgh good for hiring staff, with the firm offering flexible ways of working which is important in attracting the right talent.
Chambers said: “Part of the key to having a successful business is starting at the right time.”
The Pathways Forward panel involved Ana Stewart, chair of Pathways Forward, Anne Lise Kjaer, Lucinda Bruce-gardyne, founder of Genius Foods, and Elaine Van Der Berg, CEO of Pufferfish. The Pathways report published just over a year ago was an independent review into women in entrepreneurship in Scotland.
Stewart said there is a need for more to be done on diversity, with only one in five businesses in Scotland being female-led. Actions as a result of the report included the launch of Pathways Pledges that organisations – including the Bank – have signed up to.
Bruce-gardyne called on school pupils to have the opportunities to get involved in entrepreneurship programmes, and for boys and girls to be encouraged to listen to each other and be respectful in discussions.
Van Der Berg said people should be encouraged to have the confidence to be entrepreneurs. She added that “empowering women” is important, for example, by showcasing examples of successful female-led firms.
Looking ahead at addressing the gender gap, Kjaer said: “We have to be more inclusive…we need to bring that system change to mindset and culture.”
The final panel session of the day focused on the netzero challenge, chaired by Jacqueline Redmond, a nonexecutive director at Scottish National Investment Bank, who started by asking what has helped and hindered organisations.
Ian Mackenzie, CEO of Trojan Energy, said it can be a challenge to get workers to move from the relatively well-paid oil and gas sector to clean tech. Roy Stenhouse, chief impact officer at the Net Zero Technology Centre, said a challenge could be finding “patient capital”. Kathleen Goldie, commercial director of SNDC, added that data is a big part of the transition. And Richard Knox, CEO of Verlume, said the oil and gas skillset, including experience of working in harsh environments. was valuable.
We have to be more inclusive… to bring system change to mindset and culture