Peter Fisk

There are 7,000 known rare diseases that affect 400 million people across the globe, but only 5% of those conditions have an approved treatment.

This is largely due to the high costs and low return of rare disease drug treatments. Developing them runs into the billions of dollars yet there is a comparatively small number of people buying them. This means that the more than 400 million people worldwide who are affected by these rare diseases either have found that treatments don’t exist or their cost is inflated to eye-watering levels.

Yet it doesn’t have to be this way.

Tim Guilliams and David Brown founded the Cambridge startup, Healx, that is turning to the data-crunching power of artificial intelligence (AI) to rewrite the economics of drug discovery for the world’s rarest diseases.

Whilst at Pfizer, Brown who is now Chairman of Healx,  was named co-inventor on the patent for Viagra, and for 8 years he led the team that invented and developed Viagra through to proof of clinical efficacy in male impotence. The drug is also marketed for treatment of pulmonary hypertension under the trade name Revatio. He also had a pivotal role in the discovery of Relpax, a treatment for migraine. Together these drugs have achieved sales of over $40 billion.

Tim Guilliams is now CEO and says “It’s a huge problem and if you try to address it in the traditional way, you know two to three billion dollars per drug, 10 to 15 years, it just doesn’t work, it’s impossible,” Guilliams tells Verdict. “I think we found a sweet spot where we can basically maximise the work that’s already done by applying machine learning and finding shortcuts to this very long drug discovery process.”

While the technology underpinning Healx may be complex, the premise is simple. The company uses a range of algorithms to search for links between existing diseases for which there are treatments, and rare diseases for which there are not.

This process begins with a “deep data curation” phase, which sees Healx’s AI program look for gaps in existing medical data. Once identified, the biotech startup works with patient groups and academics to help fill them.

“The quality of what goes into your algorithm really relates to the quality that comes out,” explains Guilliams.

• Neste’s purpose: “To create a healthier planet for our children”
• Neste’s vision: “Leading the way towards a sustainable future together”

Neste has a long history of developing innovative, more sustainable solutions for road transport, aviation and the polymers and chemicals sectors. Its transformation journey has a strong Nordic heritage and it has taken the business from being a local oil refiner to becoming a global leader in renewable and circular solutions. Together with its partners, Neste works towards creating “a healthier planet for our children with more sustainable solutions”, believing this is the driving force for future success.

• 1948: Neste is founded to secure Finland’s oil supply
• 1996: Experimenting to develop 100% renewable diesel
• 2000s:  Investing in renewable diesel production in Porvoo, Singapore and Rotterdam
• 2020: Announced  strategic study on transitioning the Porvoo refinery into a globally leading renewable and circular solutions site
• 2025: Committing to support carbon neutral growth in aviation
• 2030: Helping our customers reduce their GHG emissions by up to 20 M tons annually
• 2023: Plan to end crude oil refining by mid-2030s and reaching carbon neutral production
• 2040: Reducing the use phase emission intensity of sold products by 50% compared to 2020 levels, and reducing emissions across our value chain

In 2023, Neste’s revenue stood at EUR 22.9 billion and the comparable EBITDA was 3,458 million euros. Neste employed an average of 6,018 employees in 2023. Neste has a strong global mindset with key markets in Europe and North America, production in three continents and other operations in 16 countries worldwide. Neste’s subsidiaries are located in the US and Europe. Neste’s station chains consist of almost 1000 traffic and automatic stations in Finland, Estonia, Latvia and Lithuania.

Neste produces renewable products at its refineries in Finland, the Netherlands and Singapore entirely from renewable raw materials with a current annual nameplate capacity of approximately 3.3 million tons. Neste’s Singapore refinery expansion and our joint operation, Martinez Renewables, with Marathon Petroleum in Martinez, California, will increase Neste’s total production nameplate capacity of renewable products to 5.5 million tons in 2024.

The company’s ambition is to make the Porvoo refinery in Finland the most sustainable refinery in Europe by 2030 and to reach carbon neutral production by 2035,  by introducing renewable and recycled raw materials such as liquefied waste plastic as refinery raw materials.

 

Neste is the world’s largest producer of renewable diesel and jet fuel derived from waste and residues.

It is committed to reducing greenhouse gas emissions by at least 20 million tons CO2 equivalent annually for their customers by 2030. Its goal is to achieve carbon-neutral production by 2035. Neste aims to reduce the use phase emission intensity of their sold products by 50% by 2040 compared to 2020 levels.

Neste is a forerunner in producing more sustainable raw materials for the polymers and chemicals industry. They focus on circular solutions, including novel vegetable oils and liquefied waste plastics. By expanding their global feedstock base, Neste strengthens its position in the waste and residues value chain.

DeHaat is an Indian agri-business combining traditional farming practices and modern technology, to create an integrated platform of products and services for farmers across India and beyond.

It was established in rural India, with a vision to empower farmers by providing them access to a wide range of agricultural inputs, markets, and crucial information. The name “DeHaat” itself reflects its mission, as it translates to “village” in Hindi.

Strategy:

• Connecting Farmers: DeHaat operates as an online marketplace, bridging the gap between farmers, suppliers, and buyers. It brings them together on a single platform.
• Full-Stack Platform: DeHaat’s innovative model involves individual farmers interacting with the platform via a toll-free number or a mobile application.
• Micro Entrepreneurs: Over 520 micro-entrepreneurs currently serve nearly 220,000 farmers in Bihar, Uttar Pradesh, Jharkhand, and Odisha through DeHaat ².
• Agri Input Advisory: DeHaat provides valuable advice on soil health, agricultural inputs, and crop management.
• Farm Intelligence: Leveraging data analytics, it offers insights to enhance farm productivity.
• Finance Solutions: DeHaat addresses financial needs, ensuring farmers have access to credit and other financial services.
• Last-Mile Delivery: DeHaat’s unique delivery model focuses on the last mile, directly reaching farmers where they are.

By addressing all aspects of a farmer’s life, DeHaat aims to improve efficiency and efficacy throughout the agriculture value chain

DeHaat’s impact is evident in the lives of thousands of farmers who benefit from its services. It has successfully transformed the way farmers access information, inputs, and markets, contributing to their overall well-being.

The company’s journey from seeds to market exemplifies the fusion of tradition and technology, making it a leader in agritech in India, and beyond.

Hooi Ling Tan is co-founder of Grab, and recently ranked as one of Asia’s leading female entrepreneur by Forbes magazine.

A mechanical engineering graduate, she was previously a consultant at McKinsey & Company, advising global corporations in Southeast Asia, North America, Latin America and Australia. Hooi Ling met her co-founder Anthony Tan while pursuing their Master of Business Administration (MBA) at Harvard Business School in 2011. After finishing their studies, they headed home to start Grab – MyTeksi back then – in Kuala Lumpur before moving its headquarters to Singapore. And the rest, as they say, is history.

Fast forward to this day and Grab has grown into an “everyday” business, providing services in the food delivery, grocery delivery and fintech sector. It has crossed 2 billion rides in July and is on its way to achieving $1 billion revenue by end of this year. And of course, Grab is one of the two most talked-about and valuable startup in Southeast Asia.

But the startup is not going to stop at just that, it aims to become the quotidian app of Southeast Asian lives. “With Grab Platform, we’re transitioning from a transport company to an everyday super app. This is reflective of our growth over the past six years. Because we are the go-to transportation service provider in Southeast Asia, we now have a strong user base and wide distribution network, and we’ve been able to heavily invest in future services like food, payments and logistics. Today, we’re bringing it all together onto the Grab Platform. We’re focused on becoming Southeast Asia’s everyday super app, providing the most important everyday needs for Southeast Asians – food, payments, logistics, groceries deliveries.”

So, how do the two co-founders split the workload – who does what? Hooi Ling says, she oversees people and operations at Grab, while Anthony typically handles the more “external facing part” of the business. “That said, we collaborate a lot and exchange portfolios from time to time.”

In 2017, Grab raised a $2.5-billion round led by Chinese ride-hailing major Didi Chuxing and Japan’s Softbank Group. Didi’s president and a vocal gender diversity advocate, Jean Liu had told this portal that diversity is indispensable to the startup’s core value.

Similarly, gender has never been an issue for Hooi Ling and the rest of the team, where more than 40 per cent of Grab employees or Grabbers including team leads, are women, she said. “While we’re very proud of the fact that Grab’s gender balance is relatively equitable, we don’t take that for granted and we know we could still be doing more. We have a mentorship programme called Women at Grab, which started with leaders like myself and our Head of People, Chin Yin Ong, as mentors. As the programme has grown, we now have former mentees now serving as mentors to newer and younger colleagues at Grab,” she said.

The women support by Grab extends beyond the Grabbers. As women tend to prioritise family obligations much more, the flexibility of being a Grab driver and agent helps women take control of their finances while juggling family time, said Hooi Ling. “In 2017, the number of women driving for Grab grew by more than 230% and the total distance driven by women drivers increased by 570%. In Indonesia, the number of women driving for Grab went up by almost 500%!”

Some of the other programmes by Grab include Grab Academy for Wives, which provides wives of our driver partners with livelihood skills training to help them start their own small businesses and add to the household income for their families. Hooi Ling added that the startup has also hosted a UX learning workshop for a small group of its Grab driver partners’ teenage daughters to help them grow a design thinking mindset, which is “such an important life skill to have in tech and beyond.” “I’m a big believer that giving young people exposure to these kinds of ideas and skills early on lets them know what’s possible. It also helps gives them something to strive towards as they continue to grow and mature in life,” she added. Driving diversity across the board The startup world is a male-dominated one, and this is not just a general assumption or sentiment but backed by facts.

While in the US, only 17 per cent of startups have a female founder, in Southeast Asia particularly in Singapore, merely 5 per cent of tech startups are headed by women, according to the World Economic Forum’s Global Gender Gap Report 2014. The figure may have since increased slightly, but the 2017 report by WEC stated that globally, fields such as care economy and the emerging tech sector are the most affected sectors by gender bias, and are losing out on the benefits of diversity.

Hooi Ling says, “surrounding yourself with supporters, whether men or women, in your personal or professional life, is hugely important. We put great effort into creating that environment at Grab, where anybody can thrive regardless of gender, race, and nationality. At Grab, we don’t focus on your gender, we hire the best person for the job. We believe that if you are capable and you believe in our mission of driving Southeast Asia forward, you will be able to contribute to Grab.”

The Grab-Uber deal This year has been an extremely eventful one for Grab. Besides closing a $1-billion round from Toyota Motor Corp and launching its own venture arm, it also announced the acquisition of Uber’s Southeast Asia operations, including ride-sharing and food delivery business, in March. The deal also saw Uber pick up a 27.5 per cent stake in Grab and Uber CEO Dara Khosrowshahi join Grab’s board.

On the merger, Hooi Ling said: “The Uber partnership made a lot of sense because we had an explosive 2017 in terms of growth and after the acquisition, we were able to pivot quickly to O2O (online-to-offline) services.” “Post-acquisition we grew our GrabFood business to six countries from two countries.

Dara (Khosrowshahi, Uber’s CEO) is on our board, and working with Uber has been fantastic on many fronts. We are mutually learning from each other and our partnership is truly collaborative.” However, earlier in July, Singapore’s competition watchdog had since called out the merger, saying that it found evidence that the merger has substantially lessened competition and proposed to impose financial penalties on both Grab and Uber to restore market contestability. Grab has refuted the statement and denied that the merger has harmed competition.

Among the biggest challenge of running a regional business in the multicultural, multilingual Southeast Asia, is that the region is extremely fragmented. Hooi Ling said, Grab quickly recognised that a one-size-fits-all model is not going to work because each market is distinct in terms of users’ needs and transportation infrastructure.

“The constant challenge we face is tailoring models for specific markets, and ensuring that the technology supporting, what is essentially a unique experience tailored to each of the over 200 cities where we operate, remains scalable, reliable and safe. This is why we’ve been investing heavily in our engineering and R&D teams: we have six global R&D centres, located in Bangalore, Beijing, Ho Chi Minh City, Jakarta, Seattle and Singapore supporting our rapid platform, something no other homegrown Southeast Asian ride-hailing company has,” she said.

Tan reflects on the culture they have created “At Grab, every Grabber is guided by The Grab Way, which explains our mission and the operating principles on how we can achieve it together. We call these principles the 4Hs”:

• Heart … We work together as OneGrab to serve communities in Southeast Asia
• Hunger … We work to understand ground truths and drive improvements, big and small
• Honour … We keep our word and steward our resources wisely to build and sustain trust
• Humility … We are a constant work-in-progress, and we never stop learning to get better.

Musinsa was founded by Han Hyun-Woong in 2001 as a small online community for fashion enthusiasts in South Korea. Originally named Musinsacom, the platform began as a place for users to share fashion tips, advice, and discuss trends.

Over time, it evolved into an e-commerce platform, capitalizing on the burgeoning online retail market in South Korea.

As Musinsa gained popularity, it expanded its offerings to include a wide range of fashion items, including clothing, shoes, accessories, and more.

The platform focused on providing a curated selection of products from both established and emerging brands, catering to the diverse tastes of its user base.

Musinsa also developed mobile applications to make shopping more convenient for its users, tapping into the growing trend of mobile commerce.

One key strategy of Musinsa has been its emphasis on community engagement. The platform encourages user interaction through features like forums, user-generated content, and reviews.

By fostering a sense of community, Musinsa not only drives user engagement but also taps into the power of word-of-mouth marketing and user-generated content.

Another strategic focus for Musinsa has been its efforts to collaborate with both established and up-and-coming fashion brands. These collaborations help differentiate the platform and attract fashion-conscious consumers.

Musinsa offers a wide range of brands, including both domestic South Korean brands and international labels. Some popular brands featured on Musinsa include Adidas, Nike, Fila, Supreme, and many others.

In addition to well-known brands, Musinsa also showcases emerging designers and boutique labels, providing a platform for them to reach a wider audience.

Musinsa has embraced technological innovation to enhance the shopping experience for its users. This includes features like personalized recommendations, advanced search capabilities, and AI-powered styling advice.

The platform also leverages data analytics to gain insights into consumer preferences and behavior, enabling it to tailor its offerings and marketing strategies more effectively.

Additionally, Musinsa has explored innovative marketing tactics, such as influencer partnerships and social media campaigns, to connect with its target audience and drive brand awareness.

Oppo, the Chinese smart device manufacturer has a history rooted in spreading optimism and inspiration through technology.

Their first mobile phone, adorably named the “Smiley Face,” was launched in 2008. The smiley-face design symbolized Oppo’s belief that technology can be friendly and uplifting.

A recent article in Forbes started “If you are an avid fan of the Wimbledon Championships and Roland-Garros, the most prestigious tennis tournaments in the world, or the UEFA Champions League, the annual soccer tournament followed by millions around the world, you would probably have seen the Oppo brand name emblazoned on sideline banners and billboards.”

“In the world of sports and in Oppo’s corporate culture, there are a lot of common values and beliefs. We celebrate our shared humanity, and we express this humanity by performing fairly and honestly to the best of our ability, like a true sportsman,” says William Liu, Oppo’s CMO.

In June 2016, Oppo became the largest smartphone manufacturer in China, selling its phones at more than 200,000 retail outlets. In 2018, Oppo was the top smartphone brand in China in 2019 and was ranked fifth in market share worldwide.

In 2021, Oppo announced that they were acquiring OnePlus, a major phone manufacturer. This deal was extended in 2022, with OnePlus becoming one of Oppo’s subsidiaries and sharing major components with Oppo phones, processors, screens, and even the phones themselves.

In  2022, Oppo unveiled its new brand proposition: “Inspiration Ahead” (Chinese characters: “微笑前行,” meaning “Moving onwards with a smile”). This philosophy emphasizes doing what is right, maintaining composure in the face of challenges, and empowering customers for a better lifestyle using OPPO products and technologies. The corporate value, encapsulated in the term “本分” (meaning “Being duty bound”), reflects a commitment to staying focused, filtering out distractions, and returning to basics¹.

Oppo’s approach to innovation revolves around its “3+N+X” technology development strategy:

• 3: Combining hardware, software, and services technologies to create an integrated smart lifestyle for users worldwide.
• N: The Competence Center, championing artificial intelligence, security, privacy, multimedia, and interconnectivity.
• X: A flexible factor that allows OPPO to adapt and evolve as needed.

Over the years, Oppo has continuously updated its product strategy: From the R series to the Reno series. From giving up on the Find series to restarting it. Upgrading the Find X series. It is focused on cutting-edge trends like 5G and AIoT, Oppo invests heavily in research and development to create competitive products.

Its software range, built around the ColorOS operating system, makes devices more user-friendly and intelligent for our 500 million users worldwide. The Oppo App Market, Oppo Cloud also deliver smarter, more convenient, and better-connected services.

Beekeeper AG, founded in 2012 by Cristian Grossmann, Andreas Slotosch, Daniel Sztutwojner, and Flavio Pfaffhauser in Zurich, Switzerland, is a company with a mission to empower frontline businesses and their workers. .

Beekeeper was born out of a recognition that deskless workers, who represent 80% of the global workforce, were chronically underserved when it came to workplace technology. These essential workers lacked efficient communication tools and digital solutions to enhance their productivity and engagement. The founders set out to bridge this gap and connect the unconnected.

Frontline Success System

Beekeeper’s Frontline Success System was meticulously designed and built for these deskless workers. It provides a mobile-first platform that enables companies to:

• Automate Paper-Based Processes: By digitizing manual tasks, Beekeeper streamlines operations and reduces paperwork.
• Real-Time Communication: Employees can communicate instantly from anywhere, breaking down silos and ensuring timely information flow.
• Enhance Engagement and Productivity: The platform fosters collaboration, engagement, and safety among frontline teams.

Strategy

Beekeeper’s strategy revolves around empowering frontline workers through technology. Here are some key innovations and strategies:

• Hive Structures: Modern hives are made from materials like plastic, metal, and polyurethane foam. These lightweight and durable structures improve hive longevity and reduce the risk of pests and diseases.
• Branding and Labeling: Beekeepers now focus on branding and creative labeling to differentiate their honey products. Logos, slogans, and eye-catching packaging help them stand out in the market.
• Tracking Technologies: Beekeeper leverages various tracking solutions, including drones and RFID tags, to monitor hive health. Real-time data allows beekeepers to respond promptly to changes.

Pollination Powers

Bees play a crucial role in pollination, transferring pollen from one flower to another. This process impacts the environment and our lives significantly. Beekeeper’s mission extends beyond honey production—it recognises the ecological importance of bees.

Growth

Beekeeper’s commitment to frontline workers has led to impressive growth. With over 200 team members across Europe and the US, Beekeeper continues to expand its Frontline Success System. Their vision remains clear: a world where frontline teams are connected, workers thrive, and businesses flourish.

Moutai, also known as Maotai or Kweichow Moutai, is a prestigious Chinese liquor brand renowned for its high-quality baijiu, a distilled spirit traditionally made from sorghum. Here’s an overview of its founding, development, growth, strategy, and success:

Founding

• Founding: Moutai’s origins can be traced back to the Qing Dynasty (1368–1644), but its modern incarnation began in 1951 when the Kweichow Moutai Factory was established in the town of Maotai in Guizhou Province, China.
• Traditional Craftsmanship: Moutai is crafted using traditional fermentation and distillation techniques that have been refined over centuries. The liquor is aged in clay pots buried underground, allowing it to develop its distinctive flavor profile.

Growth

• Early Years: Moutai gained popularity domestically in China, particularly among government officials and high-ranking dignitaries. Its association with official banquets and state functions enhanced its prestige.
• Cultural Symbol: Moutai became deeply ingrained in Chinese culture, symbolizing wealth, status, and hospitality. It is often presented as a prestigious gift and is a staple at important social gatherings and celebrations.
• International Expansion: In recent years, Moutai has expanded its presence beyond China’s borders, targeting affluent consumers and Chinese diaspora communities worldwide. Its reputation for quality and exclusivity has helped it establish a foothold in international markets.

Strategy

• Quality Control: Moutai places a strong emphasis on quality control throughout the production process, ensuring consistency and excellence in every batch. The company strictly adheres to traditional methods and closely monitors every stage of production.
• Brand Building: Moutai invests in brand building and marketing efforts to reinforce its image as a premium and prestigious liquor brand. It leverages its rich heritage, cultural significance, and associations with luxury to appeal to discerning consumers.
• Market Segmentation: While maintaining its position as a luxury brand, Moutai has introduced variations and limited-edition releases to cater to different consumer preferences and occasions. This strategy allows it to target a broader market while preserving its exclusivity.

Success

• Cultural Icon: Moutai has achieved iconic status in China, transcending its role as a beverage to become a symbol of Chinese heritage, tradition, and craftsmanship.
• Financial Performance: Moutai consistently delivers strong financial performance, with robust sales and profitability. Despite its premium pricing, demand for Moutai remains high, contributing to its sustained growth and profitability.
• Global Recognition: Moutai has garnered international acclaim, winning numerous awards and accolades for its quality and craftsmanship. Its growing presence in international markets underscores its global appeal and recognition.

Moutai’s success can be attributed to its unwavering commitment to quality, strong brand equity, effective marketing, and strategic expansion efforts. As China’s national liquor and a cultural icon, Moutai continues to enjoy strong demand both domestically and internationally.

Monster Beverage Corporation, formerly known as Hansen Natural Corporation, was founded in 1992 by Rodney Sacks and Hilton Schlosberg. Initially, the company focused on producing natural sodas and juices under the Hansen’s brand. However, the pivotal moment came in 2002 when they introduced the Monster Energy drink, a bold move that would shape the company’s trajectory.

Founding

• 1990s: Rodney Sacks and Hilton Schlosberg acquired Hansen’s, a struggling juice company, and began to revitalize it by focusing on natural ingredients.
• 2002: Monster Energy was introduced, targeting the emerging energy drink market. This was a strategic shift from the company’s previous focus on natural juices.

Growth

• Early 2000s: Monster Energy quickly gained popularity, especially among young consumers and extreme sports enthusiasts. Its edgy branding and association with extreme sports events helped it stand out in a crowded market.
• Expansion: Monster aggressively expanded its distribution network, striking deals with major retailers and beverage distributors. International expansion followed suit, further fueling the brand’s growth.
• Diversification: The company expanded its product line to include various flavors and variations of energy drinks, as well as non-energy beverages like teas and juices. This diversification helped mitigate risks and cater to different consumer preferences.

Strategy

• Brand Image: Monster cultivated a rebellious and edgy brand image, targeting a youthful demographic through sponsorships of extreme sports events, music festivals, and gaming competitions.
• Marketing: The company invested heavily in marketing and advertising, leveraging social media, sponsorships, and endorsements by athletes and celebrities to increase brand visibility and appeal.
• Distribution: Monster focused on building a robust distribution network, ensuring its products were widely available in convenience stores, supermarkets, gas stations, and other retail outlets.
• Innovation: Constant innovation in product development, introducing new flavors, formulations, and packaging to keep the brand fresh and competitive.

Success

• Market Dominance: Monster Energy emerged as one of the top players in the global energy drink market, competing fiercely with brands like Red Bull and Rockstar.
• Financial Performance: The company’s revenues soared as Monster Energy’s popularity surged, consistently delivering strong financial results and impressive growth rates.
• Stock Performance: Monster Beverage’s stock price experienced significant appreciation over the years, rewarding investors handsomely.
• Acquisition: In 2015, Coca-Cola acquired a minority stake in Monster Beverage Corporation, further boosting its market presence and providing access to Coca-Cola’s extensive distribution network.