Embracing cross-industry collaboration to scale up innovation 

Embracing cross-industry collaboration to scale up innovation 

Embracing cross-industry collaboration to scale up innovation 
Eugene Willemsen is the CEO for Africa, Middle East, South Asia and International Beverages at PepsiCo and Roland Daher is the C
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Large-scale innovation requires a group with diverse perspectives, engaging in multiple discussions, combining various skills, leveraging a mix of resources, uniting ideas, and fostering a shared appetite for progress. 

The Middle East is at a pivotal stage in its innovation journey. On one end of the spectrum, we have future-forward technologies such as artificial intelligence, energy systems and electric vehicles playing an important role in the sustainability drive of this region.

And on the other end, we have the agents of collaborative innovation — startups, corporations, business-expansion platforms and governments — that are driving growth in the sustainability sector. 

It is a great lens through which to view the future role of the Middle East because increasingly this part of the world is generating excitement when it comes to innovation, collaboration, and tangible investment.  

Governments have embraced their role as connectors and investors. Saudi Vision 2030 is guiding the Kingdom’s initiatives to support entrepreneurs and the start-up ecosystem, as a part of its diversification strategy.

Meanwhile, the Dubai Future District Fund has allocated 20 percent of its resources to accelerate sustainable technology start-ups and scale-ups that are tapping into advanced technologies such as AI, blockchain and robotics.

Incentives and initiatives for small and medium sized businesses and venture capitalists making waves in the green economy are a great way to bolster innovation. 

Collaboration and innovation within the sustainability space are taking a lead role in creating impact and driving change. And it is timely too, because many of the most exciting opportunities in the Middle East genuinely depend on the contributions of multiple private-sector partners to drive momentum and progress.  

For example, the Mega Green Accelerator Program saw the collaboration of PepsiCo, SABIC and AstroLabs with other strategic partners to nurture some of the region’s next generation of innovators as they develop solutions to address sustainability challenges.

It offers support and investment for innovation that can bring scalable impact to areas like the circular economy, clean energy transitions, water, and agriculture. 

Cross-sector partnerships are helping drive sustainability and address climate change. In this case, it is also helping bridge gaps that often exist between entrepreneurs and the resources they need. This includes access to networks, raising capital, mentorship on what to do next or where to prioritize.  

With the Middle East becoming a test bed for innovation by attracting an influx of international and regional businesses, creating an environment for these companies to scale into local markets has become essential.

With the Middle East becoming a test bed for innovation by attracting an influx of international and regional businesses, creating an environment for these companies to scale into local markets has become essential.

Eugene Willemsen and Roland Daher

To this end, the collective effort between private and public entities can be looked at as a solution to accelerate development, cater to the needs of these companies, and bridge fundamental gaps.

It is also important to showcase sector challenges and emphasize that sustainability is key to the continued prosperity and success of the region.

The regulatory environment will continue evolving to further support this — balancing risk with reward, incentivizing research and development, and accelerating targeted investment in innovation infrastructure.  

There must also be more knowledge sharing, insight transference and education enhancement, particularly around efforts to be more innovation-focused.

In addition, partnerships with educational institutions, to imbibe an entrepreneurial mindset from a young age, can go a long way.  

Finally, regional platforms and events have a big part to play in providing entrepreneurs with access to global markets, networks, investors, content, connections and other innovators, closing the loop of continuous cross-sector collaborations.

This year’s LEAP was a giant success, with record investments into Saudi Arabia’s tech and start-up landscape.

With more than $14 billion in public and private sector technology sector investments announced at LEAP, the long-lasting impact of such events will significantly boost domestic technology infrastructure.

In addition, it will propel multi-vertical upskilling and talent incubation opportunities for the region’s entrepreneurs.

Similarly, the UAE’s commitment of $30 billion in catalytic capital at COP28, launched a landmark climate-focused investment vehicle. And also catalyzed global sustainability investment by driving efforts to create a fairer climate finance system. 

The foundations for the Middle East to become the test bed for innovation are very strong. The rest is up to us and it is a possible reality if we keep on collaborating in ways that are truly meaningful. 

Eugene Willemsen is the CEO for Africa, Middle East, South Asia and International Beverages at PepsiCo and Roland Daher is the CEO of business expansion platform AstroLabs.
 

Disclaimer: Views expressed by writers in this section are their own and do not necessarily reflect Arab News' point of view

Pakistan consults UN agency to shape National Intellectual Property Strategy

Pakistan consults UN agency to shape National Intellectual Property Strategy
Updated 10 sec ago
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Pakistan consults UN agency to shape National Intellectual Property Strategy

Pakistan consults UN agency to shape National Intellectual Property Strategy
  • Intellectual Property Organization of Pakistan emphasizes ‘culture of innovation and creativity’
  • Consultations focus on challenges, recommendations, impact of intellectual property policies

ISLAMABAD: Pakistan has held consultation sessions with a United Nations agency to develop the country’s National Intellectual Property Strategy (NIPS), state-run media reported on Thursday.
A NIPS is a comprehensive framework designed to promote and protect intellectual property rights, drive innovation and foster economic growth.
The two-day consultation sessions, which included panel discussions on challenges, recommendations and the impact of various strategies on Pakistan’s geo-economic landscape, were organized by the Intellectual Property Organization of Pakistan (IPO-Pakistan) in collaboration with the World Intellectual Property Organization (WIPO), a specialized UN agency.
“IPO-Pakistan in collaboration with WIPO successfully concluded its two-day consultative sessions for the development of Pakistan’s National Intellectual Property Strategy,” Radio Pakistan reported.
IPO-Pakistan Chairman Farukh Amil emphasized the need to cultivate a “culture of innovation, creativity and respect for intellectual property rights.”
He underscored the importance of integrating intellectual property education into industries and academia, stressing that awareness among youth and students was key to promoting innovation and creativity.
Amil also thanked WIPO for its partnership and expertise in shaping Pakistan’s National IP Strategy.
“The consultative sessions featured insightful panel discussions on three key areas: Summary of Main Challenges and Recommendations for National Intellectual Property Strategy (NIPS), Impact of IP Strategies on Pakistan’s Geo-Economic Situation, and Way Forward for National IP Strategy Development,” state media reported.
Established in 1967, WIPO plays a pivotal role in shaping global intellectual property policies while promoting innovation, creativity and economic development worldwide.
IPO-Pakistan, launched in April 2005, serves as Pakistan’s leading institution for intellectual property protection and promotion.
By streamlining intellectual property management, it contributes to the country’s economic growth and development, supporting innovators, entrepreneurs and artists to position Pakistan as a responsible member of the global intellectual property community.


North Korean leader says past diplomacy only confirmed US hostility

North Korean leader says past diplomacy only confirmed US hostility
Updated 8 min 46 sec ago
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North Korean leader says past diplomacy only confirmed US hostility

North Korean leader says past diplomacy only confirmed US hostility
  • During the speech at the exhibition, Kim Jong Un touched on the failed summits without naming Donald Trump
  • He accused the US of raising military pressure on North Korea by strengthening military cooperation with regional allies

SEOUL: North Korean leader Kim Jong Un said his past negotiations with the United States only confirmed Washington’s “unchangeable” hostility toward his country and described his nuclear buildup as the only way to counter external threats, state media said Friday.
Kim spoke Thursday at a defense exhibition where North Korea displayed some of its most powerful weapons, including intercontinental ballistic missiles designed to target the US mainland as well as artillery systems and drones, according to text and photos published by the North’s Korean Central News Agency. While meeting with army officers last week, he had pledged a “limitless” expansion of his military nuclear program.
Kim has yet to comment directly on Donald Trump’s reelection as US president. During his first term, Trump held three highly orchestrated summits with the North Korean leader in 2018 and 2019, before the diplomacy collapsed over disagreements on exchanging a relaxation of US-led economic sanctions with North Korean steps to wind down its nuclear program.
During the speech at the exhibition, Kim touched on the failed summits without naming Trump.
“We have already gone as far as possible with the United States with negotiations, and what we ended up confirming was not a superpower’s will for coexistence, but a thorough position based on force and an unchangeable invasive and hostile policy” toward North Korea, Kim said.
Kim accused the United States of raising military pressure on North Korea by strengthening military cooperation with regional allies and increasing the deployment of “strategic strike means,” apparently a reference to major US assets such as long-range bombers, submarines and aircraft carriers. He called for accelerated efforts to advance the capabilities of his nuclear-armed military, saying the country’s only guarantee of security is to build up the “strongest defense power that can overwhelm the enemy.”
Kim’s expanding nuclear weapons and missile programs include various weapons targeting South Korea and Japan and longer-range missiles that have demonstrated the range to reach the US mainland. Analysts say Kim’s nuclear push is aimed at eventually pressuring Washington into accepting North Korea as a nuclear power and to negotiate economic and security concessions from a position of strength.
In recent months, the focus of Kim’s foreign policy has been Russia as he tries to strengthen his international footing, embracing the idea of a “new Cold War” and aligning with President Vladimir Putin’s broader conflicts with the West.
Washington and its allies have accused North Korea of providing Russia with thousands of troops and large amounts of military equipment, including artillery systems and missiles, to help sustain its fighting in Ukraine. Kim in return could possibly receive badly needed economic aid and Russian technology transfers that would possibly enhance the threat posed by his nuclear-armed military, according to outside officials and experts.
North Korea also held a major arms exhibition in July last year and invited a Russian delegation led by then-Defense Minister Sergei Shoigu, who was given a personal tour by Kim that included a briefing on the North’s expanding military capabilities, in what outside critics likened to a sales pitch. That event came weeks before Kim traveled to the Russia for a summit with Putin, which sped up military cooperation between the countries. North Korean state media photos of this year’s exhibition showed various artillery systems, including what appeared to be 240mm multiple rocket launch systems that South Korea’s spy agency believes were part of the North Korean weaponry recently sent to Russia. When asked whether North Korea was showcasing the systems it intends to export to Russia, Koo Byoungsam, a spokesperson for South Korea’s Unification Ministry, said he wouldn’t make “premature judgments” but said the government was “monitoring related trends.” “We stress once again that arms transfers between Russia and North Korea are a clear violation of UN Security Council resolutions and an illegal act that undermines the norms of the international community,” he said.
Even with Trump returning to the White House, a quick resumption of diplomacy with North Korea could be unlikely, according to some experts. North Korea’s deepening alliance with Russia and the weakening enforcement of sanctions against it are presenting further challenges in the push to resolve the nuclear standoff with Kim, who also has a greater perception of his bargaining power following the rapid expansion of his arsenal in recent years.


How Indian billionaire Gautam Adani’s alleged bribery scheme took off and unraveled

How Indian billionaire Gautam Adani’s alleged bribery scheme took off and unraveled
Updated 22 November 2024
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How Indian billionaire Gautam Adani’s alleged bribery scheme took off and unraveled

How Indian billionaire Gautam Adani’s alleged bribery scheme took off and unraveled
  • Gautam Adani allegedly tried to bribe local officials in India to persuade them to buy electricity produced by his renewable energy company Adani Green Energy
  • The allegations caught the attention of US watchdog agencies as Adani’s companies were raising funds from US-based investors in several transactions starting in 2021

NEW YORK: In June of 2020, a renewable energy company owned by Indian billionaire Gautam Adani won what it called the single largest solar development bid ever awarded: an agreement to supply 8 gigawatts of electricity to a state-owned power company.
But there was a problem. Local power companies did not want to pay the prices the state company was offering, jeopardizing the deal, according to US authorities. To save the deal, Adani allegedly decided to bribe local officials to persuade them to buy the electricity.
That allegation is at the heart of US criminal and civil charges unsealed on Wednesday against Adani, who is not currently in US custody and is believed to be in India. His company, Adani Group, said the charges were “baseless” and that it would seek “all possible legal recourse.”
The alleged hundreds of millions of dollars in bribes promised to local Indian officials caught the attention of the US Justice Department and Securities and Exchange Commission as Adani’s companies were raising funds from US-based investors in several transactions starting in 2021.
This account of how the alleged scheme unfolded is drawn from federal prosecutors’ 54-page criminal indictment of Adani and seven of his associates and two parallel civil SEC complaints, which extensively cite electronic messages between the scheme’s alleged participants.
In early 2020, the Solar Energy Corporation of India awarded Adani Green Energy and another company, Azure Power Global, contracts for a 12-gigawatt solar energy project, expected to yield billions of dollars in revenue for both companies, according to the indictment.
It was a major step forward for Adani Green Energy, run by Adani’s nephew, Sagar Adani. Up until that point, the company had only earned roughly $50 million in its history and had yet to turn a profit, according to the SEC complaint.

The logo of the Adani Group is seen on the facade of its Corporate House on the outskirts of Ahmedabad, India, on November 21, 2024. (REUTERS)

But the initiative soon hit roadblocks. Local state electricity distributors were reluctant to commit to buying the new solar power, expecting prices to fall in the future, according to an April 7, 2021 report by the Institute for Energy Economics and Financial Analysis, a think tank.
Sagar Adani and the Azure CEO at the time discussed the delays and hinted at bribes on the encrypted messaging application WhatsApp, according to the SEC.
When the Azure CEO wrote on Nov. 24, 2020, that the local power companies “are being motivated,” Sagar Adani allegedly replied, “Yup ... but the optics are very difficult to cover. In February 2021, Sagar Adani allegedly wrote to the CEO, “Just so you know, we have doubled the incentives to push for these acceptances.”
The SEC did not name the Azure CEO as a defendant, but Azure’s securities filings show the CEO at the time was Ranjit Gupta.
Gupta was charged by the Justice Department with conspiracy to violate an anti-bribery law. He did not immediately respond to a request for comment.
Azure said on Thursday it was cooperating with the US investigations, and that the individuals involved with the accusations had left the company more than a year ago.

‘Sudden good fortune’
In August of 2021, Gautam Adani had the first of several meetings with an official in the southern state of Andhra Pradesh, to whom he allegedly ultimately promised $228 million in bribes in exchange for agreeing to have the state buy the power, according to the Justice Department’s indictment.
By December, Andhra Pradesh had agreed to buy the power, and other states with smaller contracts soon followed. Other states’ officials were promised bribes as well, US authorities said.
During a Dec. 6, 2021 meeting at a coffee shop, Azure executives allegedly discussed “rumors that the Adanis had somehow facilitated signing” of the deals, according to the SEC.
Gautam Adani said on Dec. 14, 2021, the company was on track “to become the world’s largest renewables player by 2030.”
“The sudden good fortune for Azure and Adani Green prompted speculation in the marketplace about the contract awards,” the SEC wrote in its complaint.

Letter from the SEC
Before long, the SEC began to probe. The agency sent a “general inquiry” letter to Azure — which at the time traded on the New York Stock Exchange — on March 17, 2022, asking about its recent contracts and if foreign officials had sought anything of value, according to the Justice Department indictment.
According to the Department of Justice, Gautam Adani told representatives of Azure during a meeting in his Ahmedabad, India office the next month that he expected to be reimbursed more than $80 million for the bribes he had paid officials that ultimately benefited Azure’s contracts.
Some Azure representatives and a leading investor in the company decided to pay Adani back by allowing his company to take over a potentially profitable project. The representatives and investor allegedly agreed to tell Azure’s board of directors that Adani had requested bribe money, but hid their role in the scheme, prosecutors said.
All the while, Adani’s companies were raising billions of dollars in loans and bonds through international banks, including from US investors. In four separate fundraising transactions between 2021 and 2024, the companies sent investors documents indicating that they had not paid bribes — statements prosecutors say are false and constitute fraud.

FBI search
During a visit to the United States on March 17, 2023, FBI agents seized Sagar Adani’s electronic devices. The agents handed him a search warrant from a judge indicating that the US government was investigating potential violations of fraud statutes and the Foreign Corrupt Practices Act.
According to prosecutors, Gautam Adani emailed himself photographs of each page of the search warrant on March 18, 2023.
His companies nonetheless went through with a $1.36 billion syndicated loan agreement on Dec. 5, 2023, and another sale of secured notes in March 2024, and once again furnished investors with misleading information about their anti-bribery practices, according to prosecutors.
On Oct. 24, federal prosecutors in Brooklyn secured a secret grand jury indictment against Gautam Adani, Sagar Adani, Gupta, and five others allegedly involved in the scheme.
The indictment was unsealed on Nov. 20, prompting a $27 billion plunge in Adani Group companies’ market value. Adani Green Energy promptly canceled a scheduled $600 million bond sale.
 


World leaders split as ICC issues arrest warrant for Netanyahu

World leaders split as ICC issues arrest warrant for Netanyahu
Israeli Prime Minister Benjamin Netanyahu and former Israeli Defense Minister Yoav Gallant. (Reuters/File)
Updated 22 November 2024
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World leaders split as ICC issues arrest warrant for Netanyahu

World leaders split as ICC issues arrest warrant for Netanyahu
  • Palestinian Authority said the decision ‘represents hope and confidence in international law’
  • Spain, Italy said they would follow the ruling as Biden called the warrents ‘outrageous’

PARIS: Israel and its allies denounced the International Criminal Court’s decision to issue an arrest warrant Thursday for Israeli Prime Minister Benjamin Netanyahu, even as Turkiye — and rights groups — welcomed the move.
The court also issued warrants for Israel’s former defense minister as well as Hamas’s military chief Mohammed Deif.
They were issued in response to accusations of crimes against humanity and war crimes in Israel’s war on Hamas in Gaza, set off by the militant Palestinian group’s October 7, 2023 attack.
“The anti-Semitic decision of the International Criminal Court is comparable to the modern-day Dreyfus trial — and it will end in the same way,” Netanyahu said in a statement.
He was referring to the 19th-century Alfred Dreyfus affair in which a Jewish army captain was wrongly convicted of treason in France before being exonerated.
“The ICC issuance of arrest warrants against Israeli leaders is outrageous,” US President Joe Biden said in a statement.
“Let me be clear once again: whatever the ICC might imply, there is no equivalence — none — between Israel and Hamas. We will always stand with Israel against threats to its security.”
Argentina “declares its deep disagreement” with the decision, which “ignores Israel’s legitimate right to self-defense against the constant attacks by terrorist organizations like Hamas and Hezbollah,” President Javier Milei posted on social media platform X.
“(It’s) an important step toward justice and can lead to redress for the victims in general, but it remains limited and symbolic if it is not supported by all means by all countries around the world,” Hamas political bureau member Bassem Naim said of the warrants against Israeli politicians.
“It is not a political decision,” said EU foreign policy chief Josep Borrell, speaking during a visit to Jordan.
“It is a decision of a court, of a court of justice, of an international court of justice. And the decision of the court has to be respected and implemented.”
“This arrest warrant against Mr.Deif is massively significant,” said Yael Vias Gvirsman, who represents 300 Israeli victims of the October 7 Hamas attacks.
“It means these victims’ voices are being heard,” she added, speaking from outside the court in The Hague.
The Palestinian Authority, a rival of Hamas, said that “the ICC’s decision represents hope and confidence in international law and its institutions.”
It urged ICC members to enforce “a policy of severing contact and meetings’ with Netanyahu and Gallant.
“Prime Minister Netanyahu is now officially a wanted man,” said Amnesty’s Secretary General Agnes Callamard.
“ICC member states and the whole international community must stop at nothing until these individuals are brought to trial before the ICC’s independent and impartial judges.”
“The ICC arrest warrants against senior Israeli leaders and a Hamas official break through the perception that certain individuals are beyond the reach of the law.”
The ICC’s decision “is a belated but positive decision to stop the bloodshed and put an end to the genocide in Palestine,” Turkish Justice Minister Yilmaz Tunc said on X.
Foreign Minister Hakan Fidan welcomed the warrants as “an extremely important step.”
Italian Defense Minister Guido Crosetto said his country would be obliged to arrest Netanyahu and Gallant if they visited, although he added he believed the ICC was “wrong” to put Netanyahu on the same level as Hamas.
Spain said it would follow the ruling, with official sources telling AFP the country “respects the decision and will conform to its commitments and obligations in compliance with the Rome Statute and international law.”
“It is important that the ICC carries out its mandate in a judicious manner. I have confidence that the court will proceed with the case based on the highest fair trial standards,” Foreign Minister Espen Barth Eide said.
“Sweden and the EU support the important work of the court and safeguard its independence and integrity,” Foreign Minister Maria Malmer Stenergard said.
“The fight against impunity wherever crimes are committed is a priority for Belgium, which fully supports the work of the (ICC),” Belgium’s foreign ministry said on X. “Those responsible for crimes committed in Israel and Gaza must be prosecuted at the highest level, regardless of who committed them.”


Police report details 2017 sexual assault allegations against Trump nominee for top US defense post

Police report details 2017 sexual assault allegations against Trump nominee for top US defense post
Updated 30 min 54 sec ago
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Police report details 2017 sexual assault allegations against Trump nominee for top US defense post

Police report details 2017 sexual assault allegations against Trump nominee for top US defense post
  • The Monterey police department referred the complaint to the Monterey County district attorney, who declined to file charges saying there was no sufficient proof
  • Hegseth, a former Fox News host, has denied the assault allegations and told police at the time that “there was ‘always’ conversation and ‘always’ consensual contact”

WASHINGTON: A woman filed a sexual assault complaint in 2017 against Pete Hegseth, US President-elect Donald Trump’s nominee to take charge of the Pentagon, according to a California police report.
Hegseth, a former Fox News host, has denied the assault allegations and told police at the time that “there was ‘always’ conversation and ‘always’ consensual contact,” between him and the woman, according to the report.
The case was referred to the Monterey County district attorney by the Monterey police department, but it declined to file charges since they could not be “supported by proof beyond a reasonable doubt.” The Monterey police department did not immediately respond to a request for comment.
“As far as the media (is) concerned, it’s very simple: The matter was fully investigated and I was completely cleared, and that’s where I’m gonna leave it,” Hegseth told reporters on Capitol Hill where he met with Republican senators to build support for his nomination.
The police report, released by the City of Monterey on Wednesday night, does not have the complainant’s name but refers to her as Jane Doe. The report has surfaced after media outlets, including Reuters, filed requests for details about the incident that surfaced after Hegseth was named Trump’s defense secretary nominee.
The report says that Doe told an officer that she was attending a conference at a hotel in Monterey, California, in October 2017, where Hegseth was the keynote speaker.
Doe, according to the report, said she had been drinking and remembers leaving a bar with Hegseth. She said her next memory was being in an unknown room, with Hegseth blocking the door when she tried to leave.
“Doe remembered saying ‘no’ a lot. Jane Doe stated she did not remember much else,” the report said. The report added Doe said that her next memory was on a couch or bed with Hegseth over her and his dog tags hovering in her face.
While Hegseth was bare chested, “Jane Doe did not notice any tattoos, scars and or marks on Hegseth’s body,” the report said. Hegseth has a number of tattoos, including a large Jerusalem cross on his chest, Reuters has previously reported.
Doe, the report said, went to the hospital four days after the incident, where an examination was carried out. A copy of the medical exam was not included in the report. The report did not specify the hospital.
The police report said that video surveillance footage showed “Doe and Hegseth walking together, with arms locked together. Hegseth seemed to be talking and Jane Doe was smiling. Both did not have an unsteady gait.”
The report quoted a redacted name as saying that “DOE was not sure, but believes that something may have been slipped into her drink, as she cannot remember most of the night’s events.”
Hegseth says he told her he didn’t have protection and said they could stop if that was a problem, the report said.
“Hegseth stated Jane Doe said, ‘No No No, it’s not a problem. Hegseth stated he did not want to get anyone pregnant,” the police report said.
“This police report confirms what I have said all along — that the incident was fully investigated and police found the allegations to be false, which is why no charges were filed,” Hegseth’s attorney Timothy Parlatore said.
Trump has stood by Hegseth, calling the allegations false in a statement on Thursday.
“Pete Hegseth is a highly-respected Combat Veteran who will honorably serve our country when he is confirmed as the next Secretary of Defense, just like he honorably served our country on the battlefield in uniform,” said the statement.
The disclosure of the charges came as former US Representative Matt Gaetz withdrew his name from consideration as Trump’s attorney general, after the House Ethics Committee deadlocked on releasing a report into allegations of sexual misconduct and illegal drug use.