March 27, 2023


Learn Business From Experience

EO Members Share Takeaways from 2023 WEF in Davos –

6 min read

Within the picture: WEF’s Olivier Woeffray, Julia Devos and Stephan Mergenthaler with EO members John Metcalf, Troy Armour and Nikhil Hirdaramani in Davos, Switzerland.

The World Financial Discussion board (WEF)’s annual meeting in Davos, Switzerland convened leaders from enterprise, authorities and civil society dedicated to driving constructive, tangible change for the long-term of our planet and the individuals who reside on it.

Although EO didn’t have an official presence on the January 2023 WEF annual assembly in Davos, 4 EO members attended, having been invited by means of different initiatives: Nikhil Hirdaramani (EO Sri Lanka and EO World Partnerships), Troy Armour (EO Europe Bridge), John Metcalf (EO San Antonio), and Pajani Singah (EO London).

We requested them to share takeaways from the assembly.

The SDG Lab

Nikhil Hirdaramani and Pajani Singah participated within the SDG Lab, which goals to advertise the UN SDGs and brainstorm new concepts for selling them amongst small and medium-sized enterprises (SMEs) reminiscent of EO-member corporations. Troy Armour additionally attended and shared his story with the SDG Lab.

“SDG Lab is a multi-stakeholder initiative that contributes to the implementation of the UN SDGs. We had been invited to take part by the World Leaders Initiative, which goals to carry key networks collectively to seek out options that tackle the challenges of sustainable growth. Through the 4 days of the SDG Lab in Davos, we labored with world leaders to create mutually useful options to handle the SDGs,” shared Pajani Singah and Nikhil Hirdaramani.

Nikhil continued: “We had been lucky to have two EO members who had been capable of reveal how they’re addressing the SDGs by means of their corporations – Pajani Singah and Troy Armour.”

  • Pajani Singah’s firm, Amazonia Impact Ventures, was named Top Innovation Winner of the World Financial Discussion board’s 2021 Tropical Forest Commodities Problem for shielding the Amazon rainforest and enhancing the lives of its folks by means of an progressive finance firm that works immediately with indigenous communities within the rainforests.
  • Troy Armour’s firm, Junk Kouture, has created an engaged, energetic, and provoking group of younger folks working collectively to make a distinction in local weather change by discovering a brand new objective for discarded objects. Greater than 15,000 Junk Kouture designs have prevented an estimated 40,000kg of waste from going into landfills, and impressed youth from 35 nations.

“At EO, we now have storytelling at our fingertips. We will simply share how our 17,000 members are addressing the UN SDGs with their companies,” Nikhil continued. “It was incredible that Troy might be on the SDG Lab with winners from the Junk Kouture competitors who got here dressed of their creations made out of discarded objects – offering a real-life instance of find out how to breathe new life into what would possibly in any other case have gone right into a landfill.

“As well as, SDG Lab contributors had been requested to assist the creation of the SDG Olympic Video games for Local weather. They hope to launch it later in 2023. I shared EO’s GSEA mannequin; SDG Lab could take inspiration from that on find out how to run this new programme,” Nikhil shared.

Nikhil’s three general takeaways from Davos:

  1. Enhancing the state of the world is everybody’s enterprise, not simply massive enterprise.
  2. There’s a want for the voice of entrepreneurs to be heard in Davos.
  3. We want to ensure all of the constructive discussions flip into concrete actions with options.

Inspiring Creativity Amongst Youth

Troy Armour carried his firm’s message from youth to the interior circle at WEF, and even received among the Junk Kouture alumni a platform to talk and share their tales. Right here’s what Troy shared:

I used to be invited to Davos by Deloitte to talk on “how inspiring creativity amongst youth can drive progressive sustainability options and assist towards attaining the SDGs.” One story I advised was about Junk Kouture, the world’s largest youth sustainable style competitors, with a imaginative and prescient to complement and empower the lives of younger folks by means of creativity and sustainability.

I all the time weave EO into the story of Junk Kouture. I share how, in 2018, we skilled important employees points, even because the competitors was reaching its peak recognition in Eire. In late 2018, I let the entire group go, and began over. My largest realisation being that I wanted to spend money on myself earlier than I may lead others. That’s once I utilized to the EO Entrepreneurial Masters Program (EMP) at MIT in Boston.

At EMP, Brian Brault, our course chief, requested me, “Why Junk Kouture?” He stored asking why, and ultimately the realisation got here on: As a result of each a kind of children are me, and I’m not going to allow them to down! In that second, EO modified the course of my life and my enterprise. Because of this, I employed a group based mostly on the mantra that we existed to complement and empower the lives of younger folks. 

I went into EMP with a ‘millionaire’ mindset and got here out with a ‘billionaire’ mindset, and never simply in cash phrases: I imagine I can affect one billion lives in a constructive approach. That’s transformational for me but in addition for these one billion younger folks — Junk Kouture went from a one-country occasion to now reaching younger folks in 35 nations. I’ve been lucky to inform this story at a number of occasions, together with three in Davos:  the Objectives Home Sustainable Style Roundtable, the UN SDG Lab, and the Deloitte Haus presentation to 130 folks at Deloitte C-level and their shoppers.

Total Takeaways from the WEF assembly in Davos

John Metcalf, co-founder and CEO of Upgraded, shared his expertise at Davos 2023:

This yr was my fifth time to go to Davos through the WEF annual assembly. I began going repeatedly in 2014 once I grew to become a Global Shaper. (I’m now an alumnus). On my first journey, I made associates with folks in different WEF communities like Younger World Leaders and Expertise Pioneers. Now once I go, I see outdated associates and attend occasions — together with the Swedish Lunch

My three most important takeaways from Davos are:

1. WEF occasions and communities prepare you to assume massive. The query is just not, ‘How do I develop gross sales from $10M to $20M?’ The query is, ‘How do I enhance the lives of these in my group?’ Or, ‘Which of the UN SDGs targets and targets is my firm working in the direction of?’

2. WEF occasions and communities are remedy for Impostor Syndrome. Having the prospect to satisfy leaders on the highest ranges of enterprise, authorities and affect helps me to keep in mind that they don’t seem to be some type of superhumans. Individuals you respect may also slip within the snow, typically lose their prepare of thought, and revel in singing karaoke. 

3. WEF-size targets + Entrepreneurship is the right match, however we have to carry the two collectively. Within the WEF, entrepreneurship is talked about, nevertheless it’s not on the forefront. On the identical time, my entrepreneur associates type of take into account how they’re Enhancing the state of the world, nevertheless it’s usually not on the forefront. There’s a possibility right here.

EO and WEF

EO’s collaborative settlement with WEF, the College of Cambridge, and the Nationwide College of Singapore, established in 2021, explores SMEs’ positioning and future readiness across the United Nations Sustainable Growth Objectives (SDGs). The collaboration produced a White Paper, Future Readiness of SMEs: Mobilizing the SME Sector to Drive Widespread Sustainability and Prosperity.

EO is happy to proceed its collaboration to supply worth to its members, enhance EO’s visibility globally, elevate the group’s model as a worldwide thought chief, and appeal to new potential members.

For extra insights and inspiration from as we speak’s main entrepreneurs, take a look at EO on Inc. and extra articles from the EO weblog.

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