Future of Energy: How to build a successful business seeing the energy transition as an opportunity.
What could be more appropriate when talking about the energy transition with the ongoing societal changes and drive for carbon-neutrality, than to have two energy professionals from HOUSTON - the energy capital, participating?
Well, I am very glad that Aruna Viswanathan, COO of Alpha Decision Sciences and Kareemah Mohamed, Global Energy Transition Advisor at KBR could join and share their views on the topic. Between the both of them, there is a combined expertise working with complex energy questions in corporates, startups, committees, private equity and venture capital.
First of all; solving the energy issues are complex and takes time. It is not just a matter of renewables or oil & gas, it is a matter of enabling the global population to have access to energy and resources. There are societal changes taking place, where low-carbon or carbon-neutral industrial activities are transforming our thinking and actions. The need for energy is not going away, we need to think also about regulations and policies. At the same time less-developed countries can take a direct leap into renewables or transition quicker. The global dynamics are changing!
It is clear that innovation is required, both in corporates and enabled by startups. Don’t wait for the regulatory frameworks to change, we need to be agile and make our big ideas count. “Pressure makes diamonds”, as Kareemah put it, and at the same time we need patience and persistence, being agile and with full speed ahead.
What are investors looking at, how can you attract funding? Corporate investing in oil and gas are actually going for Cybersecurity and IoT having a footprint in multiple sectors and taking part in high-growth sectors, according to Aruna. Even as an entrepreneur, you need to have a long-term perspective and your solution gains attraction having a multi-sector usability. Technology transfer is important, and at the same time can be very complicated - so what about the Oil&Gas sector. Are people/ideas/startups stuck? Well, it is probably both - you need sector specific technology as well as universal solutions. Being multi-domain it is easier to find interested investors and funding.
The energy transition is a huge opportunity for all and carries a big importance for our joint future.
Hopefully this discussion can give some sparks to fuel your ideas, development and contributions for the energy transition and innovation required for the future in a collaborative manner.
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