HyperHack HyperX Sustainability
StartupX
The year is 2019.
You are reading this article on a device over the internet thanks to telecom companies that have laid underwater internet cables spanning the globe. The food you had today covered a long distance to reach you — from government-subsidized farmlands to processing plants and finally to your doorstep.
At any given day, the confluence of commerce, politics, technology, culture, and economics moves us collectively into the future. But it’s complicated.
Why should complexity matter?
There’s a good reason for this. And it has to do with our ability to tackle upcoming global challenges effectively, specifically around building a sustainable and better future.
See, every good superhero story has a villain, a backstory, an endless amount of complications and a moment of uncertainty about whether the good will prevail. And in the end, it does.
Today’s conversations about climate change sound similar. We have a common villain, a 200,000 year long backstory, a LOT of complications and definitely a high level of uncertainty about the potential to win against all odds. But it’s possible. We just need some superpowers.
Recently I took part in HyperHack, the world’s first Sustainability Hackcelerator organized by StartupX and Temasek in Singapore. My team and I built Carbon Wallet — The World’s First Carbon Footprint Intelligence Platform.
My teammate Kevin has written about the hackathon process in detail here.
This post is my attempt to build on my learnings from winning the HyperX hackathon and my larger experience of working at an Agri & Climate Change VC fund based out of Singapore and India which aims to nurture profitable and sustainable businesses by bringing capital, technology, supply chain and market linkages together.
So what superpowers do we need to save the world?
Purpose: To make sense of the uncertain
The world can be a messy place.
It has moving parts which seem entirely disconnected at first but upon digging deep, you realize that they actually work in tandem like a Rube Goldberg machine. The 2008 financial crisis is a perfect example of that. How could a home loan default in America cause a Japanese Investment Bank to incur heavy losses? Or how is it that news stories in one part of the world influence policy making elsewhere?
On top of that, due to the sheer amount of information out there, it’s tough to decipher what is really the cause and the effect. This can make you feel powerless in the grand scheme of things.
The power of synthesis allows you to identify signals from the noise and develop a framework of the problem at hand. This is what I’ve tried to learn from my experiences of running a startup, meeting problem solvers from different walks of life, reading books and attending hackathons and events around the world — the ability to pick up signals.
Purpose: To bring ideas to life
Every meaningful endeavor requires a certain level of passion and skill to persevere through it. And saving the world is no easy endeavor.
There are some key challenges in front of us including, but not limited to, carbon emission, sustainable agriculture, access to clean water and clean energy. In order to effectively build solutions, innovators need to leverage on their skills in multiple fields to create models that can integrate with existing systems.
Take for example, the potential of Carbon Capturing technology. It offers multiple avenues for pushing us towards a circular economy. However, it requires a model that can not only integrate effectively with sources of CO2 emission such as industrial scale factories at an affordable cost but also offer a market opportunity for the captured CO2 that can generate long term revenue for the businesses in the space.
And finally, a genuine intent and passion towards building these solutions is imperative if we are to move forward in this direction.
Purpose: To tackle challenges head-on and be patient
In the past three decades, some of the world’s most valuable companies have been created in the field in technology. And today, there is a thriving ecosystem of businesses, investors and consumers who are working in tandem to drive further growth.
But to get to this point, the technology industry had to go through various peaks and troughs, challenges and opportunities and even a market crash.
The point is that significant paradigm shifts usually go through a trial by fire that leaves few players standing tall while the others fizzle away.
The same is true for companies of the future working actively to solve climate challenges. Only those that are resilient will emerge as key players in building a sustainable future.
Purpose: To collectively drive us towards our goals
The toughest aspect about driving change in a complex world is that each unique part is controlled by different mechanisms and stakeholders. Therefore, one person, company or country acting by itself can only go so far.
There are various components such as regulation, public policy, business interests and cultural trends that all play a role in building a sustainable future. It is, therefore crucial for stakeholders to work together to identify and build solutions that can address the challenges facing us.
What excites me is the growing community of entrepreneurs, investors and multilateral organizations that are working to create viable solutions for the future.
And finally, we all collectively need to believe that the good will prevail. Otherwise, what is the point of a superhero story?
A huge shoutout to Temasek and StartupX for organizing this amazing event that brought together doers, developers, designers and industry folks to think about scalable and profitable business models in the world of sustainability.
Finally, thanks to my HyperHack teammates for believing in the idea and burning the candle at both ends to bring this idea to life.
If you’re interested in learning more about the Carbon Wallet concept or my work at the sustainable VC fund, please do reach out and I’d be happy to have a chat 🙂
Still here? Good! Here’s the mic.
What are some of the superpowers you think the world needs? Tell me about it in the comments so we can keep this conversation going!
If you enjoyed reading this please comment, share and follow. And stay tuned for what lies ahead for me. I’ll be sure to share!
Accelerating innovation in supply chain resilience, urban food systems, alternative proteins and affordable nutrition, a powerhouse of dynamic early stage start-ups from the Asia-Pacific region will pitch their ground-breaking technologies at this year’s virtual Asia-Pacific Agri-Food Innovation Summit on November 18-20.
The programme will run from January to March 2019 and will culminate with a Demo Day at the end of March 2019.
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