{"version":"1.0.0","segments":[{"startTime":0.35,"endTime":4.36,"body":"- Welcome everybody to the"},{"startTime":0.35,"endTime":4.36,"body":"next lecture in my series"},{"startTime":4.36,"endTime":9.25,"body":"of Innovation \u0026 Entrepreneurs"},{"startTime":4.36,"endTime":9.25,"body":"in a Wellbeing Economy."},{"startTime":9.25,"endTime":12.32,"body":"And the reason I really"},{"startTime":9.25,"endTime":12.32,"body":"would like to talk about this"},{"startTime":12.32,"endTime":15.7,"body":"is because there's a"},{"startTime":12.32,"endTime":15.7,"body":"presumption that somehow"},{"startTime":15.7,"endTime":19.07,"body":"as we move through these"},{"startTime":15.7,"endTime":19.07,"body":"different waves of ideas"},{"startTime":19.07,"endTime":22.49,"body":"about what society needs and"},{"startTime":19.07,"endTime":22.49,"body":"how things are going to change,"},{"startTime":22.49,"endTime":25.98,"body":"that somehow the people"},{"startTime":22.49,"endTime":25.98,"body":"will change with it."},{"startTime":25.98,"endTime":28.28,"body":"And what I wanted to"},{"startTime":25.98,"endTime":28.28,"body":"focus on today is about"},{"startTime":28.28,"endTime":32.49,"body":"how very different the"},{"startTime":28.28,"endTime":32.49,"body":"innovation process is becoming."},{"startTime":32.49,"endTime":35.87,"body":"And that means that the people"},{"startTime":32.49,"endTime":35.87,"body":"inside that innovation space"},{"startTime":35.87,"endTime":38.06,"body":"are also going to change."},{"startTime":38.06,"endTime":40.24,"body":"So what are the characteristics"},{"startTime":40.24,"endTime":42.71,"body":"of successful innovators"},{"startTime":40.24,"endTime":42.71,"body":"and entrepreneurs?"},{"startTime":42.71,"endTime":45.77,"body":"What are they going to be"},{"startTime":42.71,"endTime":45.77,"body":"in this wellbeing economy?"},{"startTime":45.77,"endTime":48.4,"body":"So what are the enabling"},{"startTime":45.77,"endTime":48.4,"body":"conditions that they need"},{"startTime":48.4,"endTime":51.21,"body":"that are going to help them"},{"startTime":48.4,"endTime":51.21,"body":"grow wellbeing businesses"},{"startTime":51.21,"endTime":53.41,"body":"because these potentially"},{"startTime":51.21,"endTime":53.41,"body":"are quite different"},{"startTime":53.41,"endTime":56.07,"body":"from the businesses that we had before."},{"startTime":56.07,"endTime":58.12,"body":"So what I'm going to"},{"startTime":56.07,"endTime":58.12,"body":"look at is how the sort"},{"startTime":58.12,"endTime":62.26,"body":"of the wellbeing economy is"},{"startTime":58.12,"endTime":62.26,"body":"shaped by the co-creation value"},{"startTime":62.26,"endTime":64.54,"body":"through co-design and co-production,"},{"startTime":64.54,"endTime":67.44,"body":"and what that really"},{"startTime":64.54,"endTime":67.44,"body":"means for an innovator"},{"startTime":67.44,"endTime":69.36,"body":"who may have come from a tradition"},{"startTime":69.36,"endTime":70.78,"body":"with intellectual property rights,"},{"startTime":70.78,"endTime":74.1,"body":"with patent law, all"},{"startTime":70.78,"endTime":74.1,"body":"assigned to the individual."},{"startTime":74.1,"endTime":76.92,"body":"And now we're kind of"},{"startTime":74.1,"endTime":76.92,"body":"moving into potentially"},{"startTime":76.92,"endTime":79.58,"body":"a way of working, which"},{"startTime":76.92,"endTime":79.58,"body":"means there are many people"},{"startTime":79.58,"endTime":81.98,"body":"who are going to be"},{"startTime":79.58,"endTime":81.98,"body":"involved in the creation"},{"startTime":81.98,"endTime":83.363,"body":"of intellectual property."},{"startTime":84.89,"endTime":87.34,"body":"What I would say though,"},{"startTime":84.89,"endTime":87.34,"body":"stepping back a little bit"},{"startTime":87.34,"endTime":90.61,"body":"is that there is still a huge"},{"startTime":87.34,"endTime":90.61,"body":"debate amongst economists"},{"startTime":90.61,"endTime":93.81,"body":"and academics about which are the factors"},{"startTime":93.81,"endTime":96.803,"body":"that are most important in"},{"startTime":93.81,"endTime":96.803,"body":"producing growth and wealth."},{"startTime":97.9,"endTime":101.34,"body":"I would say that this is also"},{"startTime":97.9,"endTime":101.34,"body":"reflected in our politics,"},{"startTime":101.34,"endTime":104.8,"body":"and you can often hear"},{"startTime":101.34,"endTime":104.8,"body":"different views being espoused"},{"startTime":104.8,"endTime":106.97,"body":"often without any real understanding"},{"startTime":106.97,"endTime":110.01,"body":"of the underlying processes"},{"startTime":106.97,"endTime":110.01,"body":"that really contribute"},{"startTime":110.01,"endTime":113.31,"body":"to the growth of an economy or"},{"startTime":110.01,"endTime":113.31,"body":"the wellbeing and prosperity"},{"startTime":113.31,"endTime":115.98,"body":"such as innovation and entrepreneurship."},{"startTime":115.98,"endTime":119.39,"body":"In fact, very, very few of our politicians"},{"startTime":119.39,"endTime":122.44,"body":"have ever actually gone"},{"startTime":119.39,"endTime":122.44,"body":"through an innovation"},{"startTime":122.44,"endTime":124.47,"body":"or an intraneuronal process."},{"startTime":124.47,"endTime":127.18,"body":"So since it's in another world,"},{"startTime":127.18,"endTime":129.78,"body":"they haven't really"},{"startTime":127.18,"endTime":129.78,"body":"sort of engaged in that."},{"startTime":129.78,"endTime":132.09,"body":"And in fact, one of the"},{"startTime":129.78,"endTime":132.09,"body":"problems that I see sometimes"},{"startTime":132.09,"endTime":134.69,"body":"is that there's been a lack of connection"},{"startTime":134.69,"endTime":138.32,"body":"between what we might think"},{"startTime":134.69,"endTime":138.32,"body":"of as kings in fiscal spending"},{"startTime":138.32,"endTime":142.15,"body":"and kind of something in idea"},{"startTime":138.32,"endTime":142.15,"body":"of investment in innovation."},{"startTime":142.15,"endTime":145.84,"body":"And this is partly because"},{"startTime":142.15,"endTime":145.84,"body":"the way that we have shaped"},{"startTime":145.84,"endTime":148.95,"body":"state interventions has"},{"startTime":145.84,"endTime":148.95,"body":"always really been around"},{"startTime":148.95,"endTime":150.57,"body":"sort of temporary spending."},{"startTime":150.57,"endTime":153.377,"body":"We have a priority setting,"},{"startTime":150.57,"endTime":153.377,"body":"we do some landscape,"},{"startTime":153.377,"endTime":157.57,"body":"we get back ideas from foresight"},{"startTime":153.377,"endTime":157.57,"body":"committees and so forth."},{"startTime":157.57,"endTime":159.96,"body":"And then we sort of spend in the direction"},{"startTime":159.96,"endTime":162.11,"body":"for a short period of time."},{"startTime":162.11,"endTime":164.27,"body":"And this is in a way, very unnerving"},{"startTime":164.27,"endTime":166.76,"body":"if you're an entrepreneur, you may think,"},{"startTime":166.76,"endTime":168.81,"body":"okay, I've got a great idea,"},{"startTime":168.81,"endTime":171.347,"body":"but probably I've got to get it developed."},{"startTime":171.347,"endTime":172.67,"body":"I've got to get it out there."},{"startTime":172.67,"endTime":175.53,"body":"And the wave will go after"},{"startTime":172.67,"endTime":175.53,"body":"about two or three years"},{"startTime":175.53,"endTime":179.69,"body":"unless I feel that there's"},{"startTime":175.53,"endTime":179.69,"body":"something more continuous."},{"startTime":179.69,"endTime":182.02,"body":"And so there's a real"},{"startTime":179.69,"endTime":182.02,"body":"challenge between connecting"},{"startTime":182.02,"endTime":184.56,"body":"the sort of the micro and the macro."},{"startTime":184.56,"endTime":186.52,"body":"Governments are very good at macro policy."},{"startTime":186.52,"endTime":188.94,"body":"They can get the big"},{"startTime":186.52,"endTime":188.94,"body":"pieces sometimes aligned"},{"startTime":188.94,"endTime":190.33,"body":"in the right order."},{"startTime":190.33,"endTime":193.26,"body":"But it's all the little things"},{"startTime":190.33,"endTime":193.26,"body":"that are happening between"},{"startTime":193.26,"endTime":195.03,"body":"which we really need to pay attention with"},{"startTime":195.03,"endTime":196.64,"body":"because that's where the wellbeing economy"},{"startTime":196.64,"endTime":200.244,"body":"is going to be very different"},{"startTime":196.64,"endTime":200.244,"body":"from the kind of juggernaut"},{"startTime":200.244,"endTime":203.3,"body":"of the economies that"},{"startTime":200.244,"endTime":203.3,"body":"we've had up until now."},{"startTime":203.3,"endTime":206.692,"body":"So when we're talking about"},{"startTime":203.3,"endTime":206.692,"body":"productive investments,"},{"startTime":206.692,"endTime":208.62,"body":"which are going to generate growth"},{"startTime":208.62,"endTime":210.89,"body":"and where spending is"},{"startTime":208.62,"endTime":210.89,"body":"directed, for example,"},{"startTime":210.89,"endTime":213.97,"body":"towards climate change"},{"startTime":210.89,"endTime":213.97,"body":"or renewable energy,"},{"startTime":213.97,"endTime":217.75,"body":"what we are likely to see then"},{"startTime":213.97,"endTime":217.75,"body":"is lots of multiplier effects"},{"startTime":217.75,"endTime":219.74,"body":"across all the different industries"},{"startTime":219.74,"endTime":222.22,"body":"and that's going to be the"},{"startTime":219.74,"endTime":222.22,"body":"very different landscape"},{"startTime":222.22,"endTime":225.14,"body":"in which innovators are"},{"startTime":222.22,"endTime":225.14,"body":"going to find themselves."},{"startTime":225.14,"endTime":228.73,"body":"So essentially small"},{"startTime":225.14,"endTime":228.73,"body":"pieces could link together"},{"startTime":228.73,"endTime":230.733,"body":"many large bits for the puzzle."},{"startTime":232.22,"endTime":235.32,"body":"What I would say though is that"},{"startTime":232.22,"endTime":235.32,"body":"a lot of social commentators"},{"startTime":235.32,"endTime":238.66,"body":"who are talking about impact"},{"startTime":235.32,"endTime":238.66,"body":"investment at the moment,"},{"startTime":238.66,"endTime":241.16,"body":"think that the highest order problem"},{"startTime":241.16,"endTime":243.59,"body":"is sort of the long term inadequacy"},{"startTime":243.59,"endTime":247.05,"body":"of productivity enhancing"},{"startTime":243.59,"endTime":247.05,"body":"investments in technology"},{"startTime":247.05,"endTime":249.65,"body":"and human and organizational capital."},{"startTime":249.65,"endTime":252.94,"body":"So they often cite that"},{"startTime":249.65,"endTime":252.94,"body":"increasing demand for example,"},{"startTime":252.94,"endTime":256.46,"body":"for housing affects the"},{"startTime":252.94,"endTime":256.46,"body":"industry's supply chains."},{"startTime":256.46,"endTime":259.84,"body":"But that in my sense, pales in comparison"},{"startTime":259.84,"endTime":262.65,"body":"to when we talk about upskilling people."},{"startTime":262.65,"endTime":266.02,"body":"Because in a sense, as long"},{"startTime":262.65,"endTime":266.02,"body":"as you can provide people"},{"startTime":266.02,"endTime":269.05,"body":"with the makings of a new industry,"},{"startTime":269.05,"endTime":272.07,"body":"whether it's energy efficient materials,"},{"startTime":272.07,"endTime":275.34,"body":"in IT enabled mobile"},{"startTime":272.07,"endTime":275.34,"body":"home working and so on,"},{"startTime":275.34,"endTime":278.08,"body":"then actually the"},{"startTime":275.34,"endTime":278.08,"body":"creativity, the innovation"},{"startTime":278.08,"endTime":281.25,"body":"that will come around that"},{"startTime":278.08,"endTime":281.25,"body":"is what will make wellbeing"},{"startTime":281.25,"endTime":283.81,"body":"look really very different"},{"startTime":281.25,"endTime":283.81,"body":"because it's going to have"},{"startTime":283.81,"endTime":285.95,"body":"that contextual feeling to it"},{"startTime":285.95,"endTime":289.25,"body":"and it won't be simply take"},{"startTime":285.95,"endTime":289.25,"body":"something off the shelf."},{"startTime":289.25,"endTime":290.62,"body":"What that does, of course,"},{"startTime":290.62,"endTime":293.12,"body":"is create huge numbers of opportunities."},{"startTime":293.12,"endTime":295.55,"body":"If you're not expected to"},{"startTime":293.12,"endTime":295.55,"body":"always find the same thing"},{"startTime":295.55,"endTime":298.14,"body":"on the shelf because you"},{"startTime":295.55,"endTime":298.14,"body":"happen to live in Wales"},{"startTime":298.14,"endTime":301.56,"body":"or in Scotland or in Spain or in France,"},{"startTime":301.56,"endTime":304.34,"body":"then actually that opens"},{"startTime":301.56,"endTime":304.34,"body":"up enormous opportunities"},{"startTime":304.34,"endTime":306.753,"body":"for many people to participate."},{"startTime":307.89,"endTime":310.31,"body":"So the other thing of course,"},{"startTime":310.31,"endTime":315.01,"body":"is that a lot of this is"},{"startTime":310.31,"endTime":315.01,"body":"happening in the industrial world."},{"startTime":315.01,"endTime":317.4,"body":"And some of you know"},{"startTime":315.01,"endTime":317.4,"body":"that I also spend time"},{"startTime":317.4,"endTime":319.13,"body":"in Kenya working there"},{"startTime":319.13,"endTime":321.94,"body":"in a University there called Strathmore,"},{"startTime":321.94,"endTime":325.36,"body":"which is completely"},{"startTime":321.94,"endTime":325.36,"body":"committed towards changing"},{"startTime":325.36,"endTime":327.66,"body":"the business model for Africa."},{"startTime":327.66,"endTime":330.01,"body":"And what I would say there is that"},{"startTime":330.01,"endTime":333.12,"body":"it's a very different"},{"startTime":330.01,"endTime":333.12,"body":"style of business school."},{"startTime":333.12,"endTime":336.47,"body":"It's a style that has a lot"},{"startTime":333.12,"endTime":336.47,"body":"of ethics built into it,"},{"startTime":336.47,"endTime":340.21,"body":"a lot of consistency around"},{"startTime":336.47,"endTime":340.21,"body":"communities participating,"},{"startTime":340.21,"endTime":343.34,"body":"but it takes into account a huge range"},{"startTime":343.34,"endTime":345.09,"body":"of all the particularities,"},{"startTime":345.09,"endTime":348.14,"body":"which happen across the"},{"startTime":345.09,"endTime":348.14,"body":"continent and the circumstances,"},{"startTime":348.14,"endTime":350.508,"body":"which are widely different."},{"startTime":350.508,"endTime":355.03,"body":"And why is it interesting"},{"startTime":350.508,"endTime":355.03,"body":"now to compare and contrast"},{"startTime":355.03,"endTime":358.8,"body":"business schools is because"},{"startTime":355.03,"endTime":358.8,"body":"a continent like Africa"},{"startTime":358.8,"endTime":362.77,"body":"is often considered to be"},{"startTime":358.8,"endTime":362.77,"body":"one of failed prosperity"},{"startTime":362.77,"endTime":364.41,"body":"where innovation might just spring up"},{"startTime":364.41,"endTime":366.03,"body":"in a few little places,"},{"startTime":366.03,"endTime":369.46,"body":"but we don't have the"},{"startTime":366.03,"endTime":369.46,"body":"infrastructure to make it stick,"},{"startTime":369.46,"endTime":372.62,"body":"to kind of create the"},{"startTime":369.46,"endTime":372.62,"body":"long term investments."},{"startTime":372.62,"endTime":374.97,"body":"But I can tell you that is truly changing."},{"startTime":374.97,"endTime":378.67,"body":"That is really changing and"},{"startTime":374.97,"endTime":378.67,"body":"is changing very quickly."},{"startTime":378.67,"endTime":382.2,"body":"So what I want to think about today is"},{"startTime":382.2,"endTime":385.52,"body":"what's the prospect for young people,"},{"startTime":385.52,"endTime":387.208,"body":"particularly who are coming out of well,"},{"startTime":387.208,"endTime":390.55,"body":"not even coming out of"},{"startTime":387.208,"endTime":390.55,"body":"university, growing up,"},{"startTime":390.55,"endTime":394.2,"body":"it's surrounded by problems,"},{"startTime":390.55,"endTime":394.2,"body":"lots of ideas and solutions,"},{"startTime":394.2,"endTime":395.82,"body":"and how do they make"},{"startTime":394.2,"endTime":395.82,"body":"their way in the world."},{"startTime":395.82,"endTime":398.87,"body":"And one of those things is to talk about"},{"startTime":398.87,"endTime":402.3,"body":"what it feels like to be"},{"startTime":398.87,"endTime":402.3,"body":"in a developing country"},{"startTime":402.3,"endTime":406.64,"body":"where you often find that"},{"startTime":402.3,"endTime":406.64,"body":"essentially life experiences"},{"startTime":406.64,"endTime":408.92,"body":"have been all about sort"},{"startTime":406.64,"endTime":408.92,"body":"of colonial governments"},{"startTime":408.92,"endTime":412.98,"body":"extracting labor and taxes"},{"startTime":408.92,"endTime":412.98,"body":"from rural households."},{"startTime":412.98,"endTime":416.3,"body":"A lot of anxieties about"},{"startTime":412.98,"endTime":416.3,"body":"agricultural productivity,"},{"startTime":416.3,"endTime":419.45,"body":"structural transformations,"},{"startTime":416.3,"endTime":419.45,"body":"big debt burdens."},{"startTime":419.45,"endTime":422.57,"body":"And yet paradoxically,"},{"startTime":419.45,"endTime":422.57,"body":"everyone coming back"},{"startTime":422.57,"endTime":425.75,"body":"to the idea after COVID"},{"startTime":422.57,"endTime":425.75,"body":"that what we need to do"},{"startTime":425.75,"endTime":430.16,"body":"is to create local stability,"},{"startTime":425.75,"endTime":430.16,"body":"grow food, keep healthy,"},{"startTime":430.16,"endTime":434.75,"body":"and essentially keep the"},{"startTime":430.16,"endTime":434.75,"body":"whole population moving along."},{"startTime":434.75,"endTime":438.27,"body":"So in a sense, instead of the"},{"startTime":434.75,"endTime":438.27,"body":"rural world being considered"},{"startTime":438.27,"endTime":441.44,"body":"the areas of failure, we're"},{"startTime":438.27,"endTime":441.44,"body":"now seeing that this is one"},{"startTime":441.44,"endTime":445.29,"body":"of the greatest areas of"},{"startTime":441.44,"endTime":445.29,"body":"innovation and of entrepreneurship"},{"startTime":445.29,"endTime":448.453,"body":"that's emerging out of"},{"startTime":445.29,"endTime":448.453,"body":"the continent of Africa."},{"startTime":449.63,"endTime":452.82,"body":"So in a wellbeing economy,"},{"startTime":449.63,"endTime":452.82,"body":"growth and productivity"},{"startTime":452.82,"endTime":455.31,"body":"are not the sole objectives and rationale."},{"startTime":455.31,"endTime":458.09,"body":"It's about creating change at all levels"},{"startTime":458.09,"endTime":462.35,"body":"of the economic system about"},{"startTime":458.09,"endTime":462.35,"body":"influencing societal habits"},{"startTime":462.35,"endTime":466.04,"body":"and norms, supporting the"},{"startTime":462.35,"endTime":466.04,"body":"formation of an effective"},{"startTime":466.04,"endTime":469.36,"body":"and dynamic movement"},{"startTime":466.04,"endTime":469.36,"body":"towards greater equity"},{"startTime":469.36,"endTime":471.203,"body":"and of course shared prosperity."},{"startTime":472.21,"endTime":473.6,"body":"So I want you to remember that"},{"startTime":473.6,"endTime":477.04,"body":"because I'm going to show you"},{"startTime":473.6,"endTime":477.04,"body":"an example towards the end,"},{"startTime":477.04,"endTime":479.97,"body":"which is how do you actually change norms?"},{"startTime":479.97,"endTime":482.2,"body":"How do you change people's habits"},{"startTime":482.2,"endTime":484.68,"body":"and how do you do it on a massive scale?"},{"startTime":484.68,"endTime":487.19,"body":"Because that's really"},{"startTime":484.68,"endTime":487.19,"body":"what we are talking about."},{"startTime":487.19,"endTime":490.89,"body":"And I've got an example of how"},{"startTime":487.19,"endTime":490.89,"body":"that is actually happening."},{"startTime":490.89,"endTime":494.19,"body":"And another thing that's coming"},{"startTime":490.89,"endTime":494.19,"body":"onto the table of course,"},{"startTime":494.19,"endTime":495.52,"body":"is as I mentioned at the beginning,"},{"startTime":495.52,"endTime":498.97,"body":"is the changes can't be brought"},{"startTime":495.52,"endTime":498.97,"body":"about by a single entity,"},{"startTime":498.97,"endTime":500.36,"body":"an individual can't do it."},{"startTime":500.36,"endTime":501.95,"body":"It's just impossible."},{"startTime":501.95,"endTime":505.43,"body":"So what we need are ways"},{"startTime":501.95,"endTime":505.43,"body":"to make collaboration work."},{"startTime":505.43,"endTime":508.76,"body":"How you can get inspiration"},{"startTime":505.43,"endTime":508.76,"body":"from working together,"},{"startTime":508.76,"endTime":512.37,"body":"connecting, organizing,"},{"startTime":508.76,"endTime":512.37,"body":"amplifying the work of individuals"},{"startTime":512.37,"endTime":514.26,"body":"so that you connect people, groups,"},{"startTime":514.26,"endTime":516.34,"body":"and organizations together."},{"startTime":516.34,"endTime":519.5,"body":"And to make that happen, we"},{"startTime":516.34,"endTime":519.5,"body":"need completely new narratives."},{"startTime":519.5,"endTime":521.6,"body":"So this evening I'm going"},{"startTime":519.5,"endTime":521.6,"body":"to talk a little bit about"},{"startTime":521.6,"endTime":525.57,"body":"what are those narratives that"},{"startTime":521.6,"endTime":525.57,"body":"help people truly understand"},{"startTime":525.57,"endTime":527.67,"body":"what it is we're talking about"},{"startTime":527.67,"endTime":531.19,"body":"and why the usual suspects"},{"startTime":527.67,"endTime":531.19,"body":"may not be the people"},{"startTime":531.19,"endTime":532.95,"body":"who are going to be the entrepreneurs"},{"startTime":532.95,"endTime":534.61,"body":"of the next 20, 30 years."},{"startTime":534.61,"endTime":537.61,"body":"They're going to be"},{"startTime":534.61,"endTime":537.61,"body":"completely different people."},{"startTime":537.61,"endTime":540.47,"body":"So you don't start from"},{"startTime":537.61,"endTime":540.47,"body":"scratch, of course not."},{"startTime":540.47,"endTime":543.38,"body":"A wellbeing economy doesn't"},{"startTime":540.47,"endTime":543.38,"body":"just kind of pop out and say,"},{"startTime":543.38,"endTime":545.32,"body":"well, we are all completely different."},{"startTime":545.32,"endTime":547.56,"body":"But what happens of course,"},{"startTime":545.32,"endTime":547.56,"body":"is that there's a lot"},{"startTime":547.56,"endTime":550.29,"body":"of change going on and"},{"startTime":547.56,"endTime":550.29,"body":"tracking the evidence"},{"startTime":550.29,"endTime":552.62,"body":"for that change is rather important."},{"startTime":552.62,"endTime":556.12,"body":"So many of the ideas are available."},{"startTime":556.12,"endTime":558.73,"body":"It's about sometimes"},{"startTime":556.12,"endTime":558.73,"body":"creating the work bench,"},{"startTime":558.73,"endTime":561.057,"body":"creating the deep work bench"},{"startTime":558.73,"endTime":561.057,"body":"and creating the setting"},{"startTime":561.057,"endTime":562.763,"body":"for people to come together."},{"startTime":563.81,"endTime":566.71,"body":"What we also know is that"},{"startTime":563.81,"endTime":566.71,"body":"many of the ideas sit"},{"startTime":566.71,"endTime":568.6,"body":"in very different geographies."},{"startTime":568.6,"endTime":571.29,"body":"And so what we have to"},{"startTime":568.6,"endTime":571.29,"body":"try and do is find a way"},{"startTime":571.29,"endTime":573.77,"body":"to get those solutions from the edge"},{"startTime":573.77,"endTime":576.24,"body":"as I call it discovering them."},{"startTime":576.24,"endTime":578.33,"body":"Maybe they're not written"},{"startTime":576.24,"endTime":578.33,"body":"about in social media,"},{"startTime":578.33,"endTime":581.29,"body":"but somehow or another, there"},{"startTime":578.33,"endTime":581.29,"body":"are small things happening"},{"startTime":581.29,"endTime":582.34,"body":"all over the place."},{"startTime":582.34,"endTime":583.84,"body":"And how do we find those?"},{"startTime":583.84,"endTime":586.07,"body":"Well, there are very different ways"},{"startTime":586.07,"endTime":588.291,"body":"that people are connecting with each other"},{"startTime":588.291,"endTime":591.94,"body":"outside of the formal education,"},{"startTime":588.291,"endTime":591.94,"body":"outside of universities,"},{"startTime":591.94,"endTime":595.73,"body":"outside of the normal way in"},{"startTime":591.94,"endTime":595.73,"body":"which businesses are working."},{"startTime":595.73,"endTime":598.29,"body":"And we need to tap into"},{"startTime":595.73,"endTime":598.29,"body":"that and accelerate it"},{"startTime":598.29,"endTime":600.05,"body":"and really deepen it."},{"startTime":600.05,"endTime":602.26,"body":"So it's really about doing business"},{"startTime":602.26,"endTime":603.89,"body":"in a completely different way."},{"startTime":603.89,"endTime":606.609,"body":"And that's really the"},{"startTime":603.89,"endTime":606.609,"body":"thing I want to talk about."},{"startTime":606.609,"endTime":609.9,"body":"It's a different form of entrepreneurship."},{"startTime":609.9,"endTime":611.67,"body":"It's got a lot of ethics"},{"startTime":611.67,"endTime":614.01,"body":"and ethical approaches embedded in it,"},{"startTime":614.01,"endTime":616.46,"body":"ethics that will help"},{"startTime":614.01,"endTime":616.46,"body":"us sustain the planet"},{"startTime":616.46,"endTime":619.283,"body":"and the health of the"},{"startTime":616.46,"endTime":619.283,"body":"planet as well as ourselves."},{"startTime":620.7,"endTime":623.29,"body":"But with that, I would"},{"startTime":620.7,"endTime":623.29,"body":"just like to move on"},{"startTime":623.29,"endTime":625.83,"body":"to a rather sad moment."},{"startTime":625.83,"endTime":629.25,"body":"This young man, he was one"},{"startTime":625.83,"endTime":629.25,"body":"of my research assistants"},{"startTime":629.25,"endTime":632.04,"body":"and he was killed on the"},{"startTime":629.25,"endTime":632.04,"body":"weekend out in the bush,"},{"startTime":632.04,"endTime":634.59,"body":"which was very sad, but"},{"startTime":632.04,"endTime":634.59,"body":"I wanted to bring him"},{"startTime":634.59,"endTime":637.4,"body":"to your attention because in a way"},{"startTime":638.41,"endTime":642.28,"body":"not only was he a core"},{"startTime":638.41,"endTime":642.28,"body":"member of my research team,"},{"startTime":642.28,"endTime":644.11,"body":"but he led the data analytics work"},{"startTime":644.11,"endTime":646.193,"body":"on all the citizen science training."},{"startTime":647.36,"endTime":650.06,"body":"And he is an example"},{"startTime":647.36,"endTime":650.06,"body":"of someone I would call"},{"startTime":650.06,"endTime":654.72,"body":"a selfless innovator because"},{"startTime":650.06,"endTime":654.72,"body":"he would come up with ideas."},{"startTime":654.72,"endTime":656.92,"body":"He would see people"},{"startTime":654.72,"endTime":656.92,"body":"struggling with something."},{"startTime":656.92,"endTime":659.066,"body":"Or we would have an idea in the group"},{"startTime":659.066,"endTime":661.21,"body":"and he'd go away and he'd"},{"startTime":659.066,"endTime":661.21,"body":"come back and he'd say,"},{"startTime":661.21,"endTime":663.61,"body":"well, I think we can solve it like this,"},{"startTime":663.61,"endTime":665.46,"body":"but he would never claim it for himself."},{"startTime":665.46,"endTime":667.89,"body":"It would always be part of the team,"},{"startTime":667.89,"endTime":669.28,"body":"part of what we were trying to do."},{"startTime":669.28,"endTime":672.31,"body":"And I'll show you what it ended up being,"},{"startTime":672.31,"endTime":675.09,"body":"which is an amazing outcome."},{"startTime":675.09,"endTime":677.42,"body":"But he really is somebody who was engaged,"},{"startTime":677.42,"endTime":681.25,"body":"not a only in the kind of"},{"startTime":677.42,"endTime":681.25,"body":"intellectual effort that we had,"},{"startTime":681.25,"endTime":685.12,"body":"but also by all the"},{"startTime":681.25,"endTime":685.12,"body":"communities who he helped,"},{"startTime":685.12,"endTime":689.3,"body":"even down to the point where"},{"startTime":685.12,"endTime":689.3,"body":"he was the man who the ladies"},{"startTime":689.3,"endTime":690.97,"body":"who couldn't read or write would come to"},{"startTime":690.97,"endTime":693.743,"body":"when they had to fill out their tax form,"},{"startTime":693.743,"endTime":697.19,"body":"when someone wanted to"},{"startTime":693.743,"endTime":697.19,"body":"apply for a driving license,"},{"startTime":697.19,"endTime":698.869,"body":"he was the person who they trusted"},{"startTime":698.869,"endTime":702.35,"body":"with all of their personal information."},{"startTime":702.35,"endTime":704.2,"body":"So yes, it's very, very sad"},{"startTime":704.2,"endTime":706.11,"body":"and Vincent will be sadly missed,"},{"startTime":706.11,"endTime":708.67,"body":"but he's holding two of"},{"startTime":706.11,"endTime":708.67,"body":"his most favorite things,"},{"startTime":708.67,"endTime":711.257,"body":"which is a phone on which we invented"},{"startTime":711.257,"endTime":714.67,"body":"a data collection system to go out"},{"startTime":714.67,"endTime":717.15,"body":"with all of the warriors"},{"startTime":714.67,"endTime":717.15,"body":"out into the forest"},{"startTime":717.15,"endTime":720.32,"body":"to do the mapping of the trees"},{"startTime":717.15,"endTime":720.32,"body":"completely without words,"},{"startTime":720.32,"endTime":723.46,"body":"just with pictures and sounds and so on."},{"startTime":723.46,"endTime":728.46,"body":"And we collected probably one"},{"startTime":723.46,"endTime":728.46,"body":"of the most intense botanical"},{"startTime":728.517,"endTime":732.04,"body":"and wildlife survey of"},{"startTime":728.517,"endTime":732.04,"body":"the whole of East Africa"},{"startTime":732.04,"endTime":733.5,"body":"using the platform."},{"startTime":733.5,"endTime":736.1,"body":"And the other one is an audio moth"},{"startTime":736.1,"endTime":737.96,"body":"because we've been recording animals"},{"startTime":737.96,"endTime":740.88,"body":"and insects and so on"},{"startTime":737.96,"endTime":740.88,"body":"all through the forest."},{"startTime":740.88,"endTime":743.63,"body":"So he invented a way to"},{"startTime":740.88,"endTime":743.63,"body":"kind of bring them together."},{"startTime":743.63,"endTime":746.01,"body":"So hopefully in the coming time,"},{"startTime":746.01,"endTime":747.96,"body":"we'll be able to write"},{"startTime":746.01,"endTime":747.96,"body":"all about the things"},{"startTime":747.96,"endTime":749.76,"body":"that he invented and bring them over."},{"startTime":749.76,"endTime":751.79,"body":"But they're now run by the communities"},{"startTime":751.79,"endTime":753.76,"body":"and they've brought them into being"},{"startTime":753.76,"endTime":755.89,"body":"as part of the natural capital company,"},{"startTime":755.89,"endTime":757.553,"body":"which is what I'll talk about."},{"startTime":759.44,"endTime":764.3,"body":"So moving on then to, well,"},{"startTime":759.44,"endTime":764.3,"body":"innovation very specifically,"},{"startTime":764.3,"endTime":767.04,"body":"and really as someone who..."},{"startTime":767.04,"endTime":769.78,"body":"I mean, I run a small but about to be"},{"startTime":769.78,"endTime":773.03,"body":"sort of hopefully global startup company."},{"startTime":773.03,"endTime":775.49,"body":"And what I have discovered is that"},{"startTime":775.49,"endTime":780.09,"body":"when you talk to investors"},{"startTime":775.49,"endTime":780.09,"body":"and you talk about innovation"},{"startTime":780.09,"endTime":784.78,"body":"which has got a social"},{"startTime":780.09,"endTime":784.78,"body":"and an ethical core to it,"},{"startTime":784.78,"endTime":786.72,"body":"actually people just"},{"startTime":784.78,"endTime":786.72,"body":"want to give you money."},{"startTime":786.72,"endTime":789.31,"body":"Quite honestly, they"},{"startTime":786.72,"endTime":789.31,"body":"want to give you money."},{"startTime":789.31,"endTime":791.32,"body":"And I'm not saying it's"},{"startTime":789.31,"endTime":791.32,"body":"solving the conscience,"},{"startTime":791.32,"endTime":795.22,"body":"but it's people are frustrated"},{"startTime":791.32,"endTime":795.22,"body":"because can't connect"},{"startTime":795.22,"endTime":799.14,"body":"to the big picture other"},{"startTime":795.22,"endTime":799.14,"body":"than lots of small things."},{"startTime":799.14,"endTime":801.23,"body":"And so innovation,"},{"startTime":801.23,"endTime":802.603,"body":"and one of the crucial"},{"startTime":801.23,"endTime":802.603,"body":"things about the innovation"},{"startTime":802.603,"endTime":807.02,"body":"and the wellbeing economy"},{"startTime":802.603,"endTime":807.02,"body":"is that the practices need"},{"startTime":807.02,"endTime":809.64,"body":"to connect together so"},{"startTime":807.02,"endTime":809.64,"body":"that there's a red thread"},{"startTime":809.64,"endTime":813.18,"body":"between what you are saying"},{"startTime":809.64,"endTime":813.18,"body":"and how it connects to people,"},{"startTime":813.18,"endTime":815.56,"body":"whether it's through"},{"startTime":813.18,"endTime":815.56,"body":"distribution of wealth"},{"startTime":815.56,"endTime":817.04,"body":"in a more equitable way,"},{"startTime":817.04,"endTime":819.01,"body":"whether it's protecting"},{"startTime":817.04,"endTime":819.01,"body":"the planet's resources,"},{"startTime":819.01,"endTime":820.07,"body":"whether it's helping people"},{"startTime":820.07,"endTime":824.45,"body":"with their personal"},{"startTime":820.07,"endTime":824.45,"body":"health families and so on."},{"startTime":824.45,"endTime":827.45,"body":"And if you put people"},{"startTime":824.45,"endTime":827.45,"body":"in nature at the center"},{"startTime":827.45,"endTime":830.21,"body":"with an economic purpose around it,"},{"startTime":830.21,"endTime":832.65,"body":"then actually what we're"},{"startTime":830.21,"endTime":832.65,"body":"trying to do is close"},{"startTime":832.65,"endTime":836.85,"body":"that gap between the economy"},{"startTime":832.65,"endTime":836.85,"body":"as it has been drawn out"},{"startTime":836.85,"endTime":841.85,"body":"very much driven with a substantial"},{"startTime":836.85,"endTime":841.85,"body":"degradation of resources"},{"startTime":842.31,"endTime":844.38,"body":"and in a sense taking us away from"},{"startTime":844.38,"endTime":847.24,"body":"who has power over those resources."},{"startTime":847.24,"endTime":849.84,"body":"And I think that's really"},{"startTime":847.24,"endTime":849.84,"body":"one of the key things is that"},{"startTime":849.84,"endTime":851.67,"body":"what we're trying to do"},{"startTime":849.84,"endTime":851.67,"body":"in a wellbeing economy"},{"startTime":851.67,"endTime":855.86,"body":"is deliver good lives for"},{"startTime":851.67,"endTime":855.86,"body":"people the first time around,"},{"startTime":855.86,"endTime":858.36,"body":"in other words, instead of doing something"},{"startTime":858.36,"endTime":862.21,"body":"and then having to do a very"},{"startTime":858.36,"endTime":862.21,"body":"expensive cleanup at the end."},{"startTime":862.21,"endTime":865.12,"body":"So we're trying to think before we act,"},{"startTime":865.12,"endTime":867.86,"body":"and that really is part of"},{"startTime":865.12,"endTime":867.86,"body":"the sort of system thinking"},{"startTime":867.86,"endTime":871.67,"body":"that we want to embed in"},{"startTime":867.86,"endTime":871.67,"body":"the wellbeing economy."},{"startTime":871.67,"endTime":874.5,"body":"And because of that, we"},{"startTime":871.67,"endTime":874.5,"body":"then have a sort of a spiral"},{"startTime":874.5,"endTime":877.18,"body":"where effectively there are lots and lots"},{"startTime":877.18,"endTime":878.7,"body":"of opportunities and challenges."},{"startTime":878.7,"endTime":881.62,"body":"I'm sure if any of you got"},{"startTime":878.7,"endTime":881.62,"body":"together with your neighbors,"},{"startTime":881.62,"endTime":884.5,"body":"with your colleagues, you"},{"startTime":881.62,"endTime":884.5,"body":"could list innovations"},{"startTime":884.5,"endTime":887.21,"body":"and you could list"},{"startTime":884.5,"endTime":887.21,"body":"opportunities and challenges."},{"startTime":887.21,"endTime":888.52,"body":"Hundreds of them."},{"startTime":888.52,"endTime":891.31,"body":"The question then is"},{"startTime":888.52,"endTime":891.31,"body":"how do you get the ideas"},{"startTime":891.31,"endTime":892.84,"body":"that will help you solve them?"},{"startTime":892.84,"endTime":894.98,"body":"Sometimes they might be in the room,"},{"startTime":894.98,"endTime":897.02,"body":"but sometimes they might not be."},{"startTime":897.02,"endTime":901.26,"body":"And we run lots and lots of"},{"startTime":897.02,"endTime":901.26,"body":"processes here in London,"},{"startTime":901.26,"endTime":904.3,"body":"sort of all over the world,"},{"startTime":901.26,"endTime":904.3,"body":"bringing people together."},{"startTime":904.3,"endTime":907.31,"body":"And it is absolutely the case that even"},{"startTime":907.31,"endTime":910.64,"body":"if people have never had formal education,"},{"startTime":910.64,"endTime":912.6,"body":"they genuinely have good ideas."},{"startTime":912.6,"endTime":916.64,"body":"It's quite extraordinary"},{"startTime":912.6,"endTime":916.64,"body":"how you sense the intuition"},{"startTime":916.64,"endTime":918.98,"body":"that people have about their problems,"},{"startTime":918.98,"endTime":921.1,"body":"even if they're not necessarily connected"},{"startTime":921.1,"endTime":924.473,"body":"to sort of institutions"},{"startTime":921.1,"endTime":924.473,"body":"of higher learning."},{"startTime":925.32,"endTime":928.4,"body":"So generating ideas and"},{"startTime":925.32,"endTime":928.4,"body":"then developing and testing."},{"startTime":928.4,"endTime":929.93,"body":"And this is something which of course,"},{"startTime":929.93,"endTime":932.41,"body":"in the social sciences"},{"startTime":929.93,"endTime":932.41,"body":"in the natural sciences"},{"startTime":932.41,"endTime":934.55,"body":"you think is well understood."},{"startTime":934.55,"endTime":936.65,"body":"But when you work in"},{"startTime":934.55,"endTime":936.65,"body":"interdisciplinary areas,"},{"startTime":936.65,"endTime":941.34,"body":"when you work trying to fix"},{"startTime":936.65,"endTime":941.34,"body":"or put solutions together,"},{"startTime":941.34,"endTime":943.81,"body":"then even as a social scientist,"},{"startTime":943.81,"endTime":946.71,"body":"you'll sometimes find you"},{"startTime":943.81,"endTime":946.71,"body":"haven't got the pieces"},{"startTime":946.71,"endTime":947.543,"body":"of the puzzle."},{"startTime":947.543,"endTime":948.902,"body":"And certainly as a natural scientist,"},{"startTime":948.902,"endTime":950.961,"body":"you don't often have the skills"},{"startTime":950.961,"endTime":953.72,"body":"to do the kind of social"},{"startTime":950.961,"endTime":953.72,"body":"work that we need,"},{"startTime":953.72,"endTime":957.53,"body":"longitudinal surveys,"},{"startTime":953.72,"endTime":957.53,"body":"interviews, and so on."},{"startTime":957.53,"endTime":962.09,"body":"So there's a whole essence"},{"startTime":957.53,"endTime":962.09,"body":"in which doing research now"},{"startTime":962.09,"endTime":963.36,"body":"is very different."},{"startTime":963.36,"endTime":967.63,"body":"Innovators need to"},{"startTime":963.36,"endTime":967.63,"body":"understand both who and what"},{"startTime":967.63,"endTime":969.72,"body":"is giving them sort of ideas"},{"startTime":969.72,"endTime":971.28,"body":"and how are these ideas coming about,"},{"startTime":971.28,"endTime":973.08,"body":"but how are they sh shape them?"},{"startTime":973.08,"endTime":974.42,"body":"And it's no good just turning up"},{"startTime":974.42,"endTime":976.07,"body":"with a good technology solution,"},{"startTime":976.07,"endTime":978.129,"body":"because if you put it out there,"},{"startTime":978.129,"endTime":981.28,"body":"either someone else has done"},{"startTime":978.129,"endTime":981.28,"body":"it and it's competing with you"},{"startTime":981.28,"endTime":984.04,"body":"or it's completely contextually wrong."},{"startTime":984.04,"endTime":986.29,"body":"So what we've learned of course is that"},{"startTime":986.29,"endTime":989.05,"body":"the kind of few technology"},{"startTime":986.29,"endTime":989.05,"body":"platforms that we have"},{"startTime":989.05,"endTime":992.04,"body":"that have run very well"},{"startTime":989.05,"endTime":992.04,"body":"like Apple and all that,"},{"startTime":992.04,"endTime":995.18,"body":"of course, they've saturated the market,"},{"startTime":995.18,"endTime":999.25,"body":"but outside of that area"},{"startTime":995.18,"endTime":999.25,"body":"context really matters."},{"startTime":999.25,"endTime":1001.14,"body":"And so developing and testing with people"},{"startTime":1001.14,"endTime":1003.17,"body":"who are going to be using your innovation"},{"startTime":1003.17,"endTime":1005.46,"body":"is extraordinarily important."},{"startTime":1005.46,"endTime":1008.21,"body":"My own experience recently"},{"startTime":1005.46,"endTime":1008.21,"body":"is that I invented something"},{"startTime":1009.141,"endTime":1012.81,"body":"a way to measure carbon very accurately"},{"startTime":1012.81,"endTime":1014.48,"body":"anywhere in the world."},{"startTime":1014.48,"endTime":1016.67,"body":"And the very first thing"},{"startTime":1014.48,"endTime":1016.67,"body":"that happened when I spoke"},{"startTime":1016.67,"endTime":1020.93,"body":"to Australian farmers"},{"startTime":1016.67,"endTime":1020.93,"body":"was that they observed"},{"startTime":1020.93,"endTime":1022.913,"body":"that I was using Australian data."},{"startTime":1024.05,"endTime":1028.27,"body":"And it never occurred to me"},{"startTime":1024.05,"endTime":1028.27,"body":"not to use Australian data,"},{"startTime":1028.27,"endTime":1030.23,"body":"to talk to Australian farmers."},{"startTime":1030.23,"endTime":1033.59,"body":"But what they said was all"},{"startTime":1030.23,"endTime":1033.59,"body":"the big ag tech companies"},{"startTime":1033.59,"endTime":1035.99,"body":"turned up and told them about their land"},{"startTime":1035.99,"endTime":1038.08,"body":"using data from the USA."},{"startTime":1038.08,"endTime":1040.93,"body":"Well, that's not so smart, right?"},{"startTime":1040.93,"endTime":1043.52,"body":"And it's just a really wrong"},{"startTime":1040.93,"endTime":1043.52,"body":"message to give people,"},{"startTime":1043.52,"endTime":1045.41,"body":"oh, you are just part of the also ran."},{"startTime":1045.41,"endTime":1047.05,"body":"It doesn't work like that."},{"startTime":1047.05,"endTime":1050.3,"body":"So at every simple stage making the case"},{"startTime":1050.3,"endTime":1053.6,"body":"is all about making it"},{"startTime":1050.3,"endTime":1053.6,"body":"real, making it the point."},{"startTime":1053.6,"endTime":1056.69,"body":"And you can't do that unless"},{"startTime":1053.6,"endTime":1056.69,"body":"you've had the conversation"},{"startTime":1056.69,"endTime":1059.29,"body":"with the people who you"},{"startTime":1056.69,"endTime":1059.29,"body":"think are going to be"},{"startTime":1059.29,"endTime":1061.33,"body":"either the users or the community"},{"startTime":1061.33,"endTime":1064.15,"body":"in which these innovations"},{"startTime":1061.33,"endTime":1064.15,"body":"are going to be embedded."},{"startTime":1064.15,"endTime":1065.22,"body":"Then of course you have to deliver it."},{"startTime":1065.22,"endTime":1066.53,"body":"You have to implement it."},{"startTime":1066.53,"endTime":1070.26,"body":"And then it's the usual"},{"startTime":1066.53,"endTime":1070.26,"body":"stuff about good business"},{"startTime":1070.26,"endTime":1073.21,"body":"about growing and scaling and eventually,"},{"startTime":1073.21,"endTime":1076.373,"body":"and this is the really big"},{"startTime":1073.21,"endTime":1076.373,"body":"thing changing systems."},{"startTime":1077.58,"endTime":1081.66,"body":"What I like to think is"},{"startTime":1077.58,"endTime":1081.66,"body":"that in the sort of essence"},{"startTime":1081.66,"endTime":1082.99,"body":"of what we're talking about,"},{"startTime":1082.99,"endTime":1086.67,"body":"that the wellbeing economy"},{"startTime":1082.99,"endTime":1086.67,"body":"is sufficiently flexible"},{"startTime":1086.67,"endTime":1089.64,"body":"to be able to change, to able to adapt"},{"startTime":1089.64,"endTime":1092.8,"body":"because the planet is"},{"startTime":1089.64,"endTime":1092.8,"body":"changing at such a pace"},{"startTime":1092.8,"endTime":1095.19,"body":"and we are changing at such a pace"},{"startTime":1095.19,"endTime":1097.97,"body":"that we cannot have a kind of rigidity."},{"startTime":1097.97,"endTime":1099.97,"body":"So the way that products and services,"},{"startTime":1099.97,"endTime":1104.97,"body":"the way that we bring innovations"},{"startTime":1099.97,"endTime":1104.97,"body":"into our societies today"},{"startTime":1105.0,"endTime":1107.933,"body":"must always have a sense in"},{"startTime":1105.0,"endTime":1107.933,"body":"which they're going to evolve."},{"startTime":1109.08,"endTime":1112.9,"body":"Now, that might seem"},{"startTime":1109.08,"endTime":1112.9,"body":"completely impossible,"},{"startTime":1112.9,"endTime":1117.23,"body":"but what is helping us do"},{"startTime":1112.9,"endTime":1117.23,"body":"that is this explosion of data"},{"startTime":1117.23,"endTime":1120.38,"body":"and research to transform our lives."},{"startTime":1120.38,"endTime":1122.34,"body":"I'll give a few more examples later on,"},{"startTime":1122.34,"endTime":1125.64,"body":"but there is absolutely"},{"startTime":1122.34,"endTime":1125.64,"body":"no doubt in my mind"},{"startTime":1125.64,"endTime":1128.93,"body":"that an innovator, an entrepreneur needs"},{"startTime":1128.93,"endTime":1131.08,"body":"to know their way around data."},{"startTime":1131.08,"endTime":1134.3,"body":"They need to understand what"},{"startTime":1131.08,"endTime":1134.3,"body":"it is that matters to people"},{"startTime":1134.3,"endTime":1135.75,"body":"and what are the signals."},{"startTime":1135.75,"endTime":1140.47,"body":"Whether it's the way in which"},{"startTime":1135.75,"endTime":1140.47,"body":"we manufacture our clothes,"},{"startTime":1140.47,"endTime":1142.66,"body":"the way in which we use resources,"},{"startTime":1142.66,"endTime":1145.43,"body":"all of that is going to have meaning both"},{"startTime":1145.43,"endTime":1149.33,"body":"to the innovation process,"},{"startTime":1145.43,"endTime":1149.33,"body":"but also to the entrepreneur."},{"startTime":1149.33,"endTime":1152.8,"body":"So I'll give you an example"},{"startTime":1149.33,"endTime":1152.8,"body":"in the circular bio economy,"},{"startTime":1152.8,"endTime":1156.418,"body":"there's a huge number of people"},{"startTime":1152.8,"endTime":1156.418,"body":"who are now thinking about"},{"startTime":1156.418,"endTime":1159.443,"body":"how to put the bio in"},{"startTime":1156.418,"endTime":1159.443,"body":"the circular economy."},{"startTime":1159.443,"endTime":1161.79,"body":"It's no longer just about recycling,"},{"startTime":1161.79,"endTime":1164.08,"body":"reusing, reducing, and so on."},{"startTime":1164.08,"endTime":1167.37,"body":"It's about, can we be"},{"startTime":1164.08,"endTime":1167.37,"body":"more clever to use things"},{"startTime":1167.37,"endTime":1170.37,"body":"from the biological part of the planet"},{"startTime":1170.37,"endTime":1173.92,"body":"to actually alter not"},{"startTime":1170.37,"endTime":1173.92,"body":"only fossil fuel use,"},{"startTime":1173.92,"endTime":1176.55,"body":"but also to think about"},{"startTime":1173.92,"endTime":1176.55,"body":"what we're producing?"},{"startTime":1176.55,"endTime":1180.37,"body":"So a classic example is in forestry."},{"startTime":1180.37,"endTime":1182.56,"body":"So we're not going to burn trees,"},{"startTime":1182.56,"endTime":1185.67,"body":"hopefully not so much into the future,"},{"startTime":1185.67,"endTime":1187.88,"body":"but we need trees to be able to turn over."},{"startTime":1187.88,"endTime":1189.96,"body":"So what can we do with"},{"startTime":1187.88,"endTime":1189.96,"body":"trees that are getting near"},{"startTime":1189.96,"endTime":1192.64,"body":"to the end of their lives"},{"startTime":1189.96,"endTime":1192.64,"body":"and they're in plantations,"},{"startTime":1192.64,"endTime":1196.91,"body":"they're not in sort of"},{"startTime":1192.64,"endTime":1196.91,"body":"sort of ancient forests."},{"startTime":1196.91,"endTime":1199.13,"body":"Well, up in Finland, where"},{"startTime":1196.91,"endTime":1199.13,"body":"they have now developed"},{"startTime":1199.13,"endTime":1203.31,"body":"a beautiful product which is"},{"startTime":1199.13,"endTime":1203.31,"body":"to use trees to make clothing."},{"startTime":1203.31,"endTime":1206.27,"body":"And they have now rolled that out."},{"startTime":1206.27,"endTime":1208.97,"body":"You can buy dresses and"},{"startTime":1206.27,"endTime":1208.97,"body":"clothes on the high street here"},{"startTime":1208.97,"endTime":1211.68,"body":"in the UK, which are made from lycopene"},{"startTime":1211.68,"endTime":1214.07,"body":"and other woody fabrics."},{"startTime":1214.07,"endTime":1216.4,"body":"And all of these different"},{"startTime":1214.07,"endTime":1216.4,"body":"things are happening"},{"startTime":1216.4,"endTime":1218.27,"body":"to the point then that you see"},{"startTime":1218.27,"endTime":1220.96,"body":"that we don't really have a"},{"startTime":1218.27,"endTime":1220.96,"body":"dependence for many products"},{"startTime":1220.96,"endTime":1222.7,"body":"and services from the"},{"startTime":1220.96,"endTime":1222.7,"body":"fossil fuel community"},{"startTime":1222.7,"endTime":1224.15,"body":"other than our energy use."},{"startTime":1224.15,"endTime":1226.07,"body":"And even that, of course, as you know."},{"startTime":1226.07,"endTime":1229.01,"body":"But how did they get there so quickly"},{"startTime":1229.01,"endTime":1232.62,"body":"it's because they asked a"},{"startTime":1229.01,"endTime":1232.62,"body":"question from some chemist"},{"startTime":1232.62,"endTime":1235.28,"body":"and said, what is the common feature"},{"startTime":1235.28,"endTime":1238.26,"body":"between fabrics that feel beautiful?"},{"startTime":1238.26,"endTime":1241.95,"body":"Feel like silk, or feel"},{"startTime":1238.26,"endTime":1241.95,"body":"like a really nice Chanel."},{"startTime":1241.95,"endTime":1243.3,"body":"What is it?"},{"startTime":1243.3,"endTime":1245.19,"body":"So the chemists go away and they come back"},{"startTime":1245.19,"endTime":1246.98,"body":"with a whole series of"},{"startTime":1245.19,"endTime":1246.98,"body":"occasions, and then they say,"},{"startTime":1246.98,"endTime":1250.69,"body":"and where can we find"},{"startTime":1246.98,"endTime":1250.69,"body":"those in the natural world"},{"startTime":1250.69,"endTime":1254.0,"body":"instead of making them out"},{"startTime":1250.69,"endTime":1254.0,"body":"of fossil fuel feed stocks?"},{"startTime":1254.0,"endTime":1255.54,"body":"And lo and behold, they find them"},{"startTime":1255.54,"endTime":1257.85,"body":"in these different coniferous trees"},{"startTime":1257.85,"endTime":1261.25,"body":"up in the finish boreal forests."},{"startTime":1261.25,"endTime":1264.16,"body":"And so this idea of being"},{"startTime":1261.25,"endTime":1264.16,"body":"able to draw in data"},{"startTime":1264.16,"endTime":1267.57,"body":"from so many different"},{"startTime":1264.16,"endTime":1267.57,"body":"places to create solutions"},{"startTime":1267.57,"endTime":1269.7,"body":"that were never there at the beginning,"},{"startTime":1269.7,"endTime":1273.31,"body":"I think is really why the data"},{"startTime":1269.7,"endTime":1273.31,"body":"revolution is so impressive."},{"startTime":1273.31,"endTime":1276.22,"body":"Of course, we hear a lot"},{"startTime":1273.31,"endTime":1276.22,"body":"about data in social media"},{"startTime":1276.22,"endTime":1278.0,"body":"and it's how people connect,"},{"startTime":1278.0,"endTime":1281.37,"body":"but there's also a very"},{"startTime":1278.0,"endTime":1281.37,"body":"deep research question,"},{"startTime":1281.37,"endTime":1286.06,"body":"which is, there is no"},{"startTime":1281.37,"endTime":1286.06,"body":"point in my mind continuing"},{"startTime":1286.06,"endTime":1289.3,"body":"with research unless it has purpose,"},{"startTime":1289.3,"endTime":1292.06,"body":"unless you can really"},{"startTime":1289.3,"endTime":1292.06,"body":"demonstrate the impact"},{"startTime":1292.06,"endTime":1294.3,"body":"that it will have on society."},{"startTime":1294.3,"endTime":1297.43,"body":"And so having access to information"},{"startTime":1297.43,"endTime":1300.9,"body":"but making it work around"},{"startTime":1297.43,"endTime":1300.9,"body":"information and data"},{"startTime":1300.9,"endTime":1303.783,"body":"is clearly going to be the"},{"startTime":1300.9,"endTime":1303.783,"body":"way to transform our lives."},{"startTime":1305.14,"endTime":1308.88,"body":"If we then think about"},{"startTime":1305.14,"endTime":1308.88,"body":"taking that one step further,"},{"startTime":1308.88,"endTime":1312.5,"body":"I want to introduce you to an example"},{"startTime":1312.5,"endTime":1315.1,"body":"of a new capital asset."},{"startTime":1315.1,"endTime":1317.67,"body":"It's called Natural Capital Natural Assets"},{"startTime":1317.67,"endTime":1320.683,"body":"and natural assets can be"},{"startTime":1317.67,"endTime":1320.683,"body":"a whole variety of things."},{"startTime":1320.683,"endTime":1323.98,"body":"They can be water, they can"},{"startTime":1320.683,"endTime":1323.98,"body":"be plants, they can be trees,"},{"startTime":1323.98,"endTime":1325.61,"body":"many, many things."},{"startTime":1325.61,"endTime":1328.72,"body":"But what is happening around"},{"startTime":1325.61,"endTime":1328.72,"body":"the world and particularly even"},{"startTime":1328.72,"endTime":1331.99,"body":"in this country is that"},{"startTime":1328.72,"endTime":1331.99,"body":"there's a recognition"},{"startTime":1331.99,"endTime":1334.46,"body":"that people would like to"},{"startTime":1331.99,"endTime":1334.46,"body":"invest in the natural world."},{"startTime":1334.46,"endTime":1337.223,"body":"And I've talked about this"},{"startTime":1334.46,"endTime":1337.223,"body":"in an earlier lecture."},{"startTime":1338.58,"endTime":1340.83,"body":"But imagine that you are a community,"},{"startTime":1340.83,"endTime":1342.93,"body":"I'm working in Essex, for example,"},{"startTime":1342.93,"endTime":1345.34,"body":"and we have set aside a very large area"},{"startTime":1345.34,"endTime":1348.443,"body":"of the county to become"},{"startTime":1345.34,"endTime":1348.443,"body":"a climate focus area."},{"startTime":1349.78,"endTime":1353.27,"body":"Well, how do you make"},{"startTime":1349.78,"endTime":1353.27,"body":"it an attractive place"},{"startTime":1353.27,"endTime":1357.04,"body":"to bring people there so that"},{"startTime":1353.27,"endTime":1357.04,"body":"there can be the investment"},{"startTime":1357.04,"endTime":1359.97,"body":"to help people in fact,"},{"startTime":1357.04,"endTime":1359.97,"body":"make all those changes"},{"startTime":1359.97,"endTime":1361.25,"body":"for climate change."},{"startTime":1361.25,"endTime":1363.11,"body":"And we are talking about farmers trying"},{"startTime":1363.11,"endTime":1364.76,"body":"to keep more water on their fields"},{"startTime":1364.76,"endTime":1366.32,"body":"so it doesn't run into the rivers."},{"startTime":1366.32,"endTime":1368.04,"body":"We're talking about people finding ways"},{"startTime":1368.04,"endTime":1371.88,"body":"to deal with waste or slurry"},{"startTime":1368.04,"endTime":1371.88,"body":"on many, many different things."},{"startTime":1371.88,"endTime":1375.41,"body":"Okay, so the first thing"},{"startTime":1371.88,"endTime":1375.41,"body":"you do of course is identify"},{"startTime":1375.41,"endTime":1377.9,"body":"well, what is this natural"},{"startTime":1375.41,"endTime":1377.9,"body":"asset that we have?"},{"startTime":1377.9,"endTime":1381.81,"body":"How could we use it not"},{"startTime":1377.9,"endTime":1381.81,"body":"only to help us adapt"},{"startTime":1381.81,"endTime":1384.44,"body":"to climate change and"},{"startTime":1381.81,"endTime":1384.44,"body":"mitigate some of the problems,"},{"startTime":1384.44,"endTime":1386.81,"body":"but how can we actually attract investors"},{"startTime":1386.81,"endTime":1388.11,"body":"to help us do that?"},{"startTime":1388.11,"endTime":1389.42,"body":"What kind of investors are there"},{"startTime":1389.42,"endTime":1391.36,"body":"that would be interested in that?"},{"startTime":1391.36,"endTime":1393.82,"body":"Well, it turns out that through crowdfund"},{"startTime":1393.82,"endTime":1395.77,"body":"and many other ways we can create,"},{"startTime":1395.77,"endTime":1399.53,"body":"and there are also green"},{"startTime":1395.77,"endTime":1399.53,"body":"bonds and guilds and so on."},{"startTime":1399.53,"endTime":1401.17,"body":"There are many ways that people"},{"startTime":1401.17,"endTime":1403.43,"body":"actually would like to invest."},{"startTime":1403.43,"endTime":1408.34,"body":"And if you think about counties,"},{"startTime":1403.43,"endTime":1408.34,"body":"they have public spending,"},{"startTime":1408.34,"endTime":1410.39,"body":"they have a board and they essentially"},{"startTime":1410.39,"endTime":1411.653,"body":"have investment funds."},{"startTime":1412.66,"endTime":1416.46,"body":"It's possible for counties to issue bonds."},{"startTime":1416.46,"endTime":1418.22,"body":"And these bonds can cost slightly"},{"startTime":1418.22,"endTime":1420.083,"body":"less than out on the marketplace."},{"startTime":1420.083,"endTime":1423.27,"body":"And those bonds help"},{"startTime":1420.083,"endTime":1423.27,"body":"people help the county"},{"startTime":1423.27,"endTime":1425.8,"body":"deliver local change."},{"startTime":1425.8,"endTime":1428.79,"body":"And what is wonderful actually"},{"startTime":1425.8,"endTime":1428.79,"body":"is that a lot of people"},{"startTime":1428.79,"endTime":1431.97,"body":"would like to see their"},{"startTime":1428.79,"endTime":1431.97,"body":"local counties succeed."},{"startTime":1431.97,"endTime":1434.89,"body":"And so instead of buying"},{"startTime":1431.97,"endTime":1434.89,"body":"a bond from somebody else,"},{"startTime":1434.89,"endTime":1437.29,"body":"they'll buy a bond from"},{"startTime":1434.89,"endTime":1437.29,"body":"here that will help"},{"startTime":1437.29,"endTime":1440.32,"body":"to actually make the"},{"startTime":1437.29,"endTime":1440.32,"body":"changes on the ground."},{"startTime":1440.32,"endTime":1443.89,"body":"So this is actually what's"},{"startTime":1440.32,"endTime":1443.89,"body":"happening in places like Essex"},{"startTime":1443.89,"endTime":1445.61,"body":"and it's quite extraordinary."},{"startTime":1445.61,"endTime":1450.42,"body":"So now let's go over to Kenya"},{"startTime":1445.61,"endTime":1450.42,"body":"and same thing is happening."},{"startTime":1450.42,"endTime":1454.42,"body":"So 400,000 people have"},{"startTime":1450.42,"endTime":1454.42,"body":"been able to come together"},{"startTime":1454.42,"endTime":1457.9,"body":"to identify their forest,"},{"startTime":1454.42,"endTime":1457.9,"body":"the land, the water,"},{"startTime":1457.9,"endTime":1459.21,"body":"the biodiversity."},{"startTime":1459.21,"endTime":1463.533,"body":"So identifying the natural"},{"startTime":1459.21,"endTime":1463.533,"body":"asset, figure out who owns it."},{"startTime":1464.51,"endTime":1467.72,"body":"If it's a community land, make"},{"startTime":1464.51,"endTime":1467.72,"body":"sure that the community land"},{"startTime":1467.72,"endTime":1470.6,"body":"is identified and can be accessed,"},{"startTime":1470.6,"endTime":1474.06,"body":"and then literally bring together"},{"startTime":1474.06,"endTime":1477.8,"body":"a proper natural capital asset, a company"},{"startTime":1477.8,"endTime":1480.58,"body":"that then takes care"},{"startTime":1477.8,"endTime":1480.58,"body":"of this huge resource,"},{"startTime":1480.58,"endTime":1483.87,"body":"making sure that people who are doing good"},{"startTime":1483.87,"endTime":1486.54,"body":"and planting trees and making"},{"startTime":1483.87,"endTime":1486.54,"body":"sure the soil is staying"},{"startTime":1486.54,"endTime":1490.01,"body":"where it is and everything else"},{"startTime":1486.54,"endTime":1490.01,"body":"is really, really in place."},{"startTime":1490.01,"endTime":1492.15,"body":"So all the mechanisms are there."},{"startTime":1492.15,"endTime":1493.71,"body":"And then on the basis of that,"},{"startTime":1493.71,"endTime":1496.99,"body":"convert that into financial capital."},{"startTime":1496.99,"endTime":1501.7,"body":"Now, it sounds kind of"},{"startTime":1496.99,"endTime":1501.7,"body":"unbelievable, but in fact,"},{"startTime":1501.7,"endTime":1505.23,"body":"there's a lot of people"},{"startTime":1501.7,"endTime":1505.23,"body":"who want to invest in that."},{"startTime":1505.23,"endTime":1507.14,"body":"There are companies that are of promised"},{"startTime":1507.14,"endTime":1509.36,"body":"and given sort of all kinds of things"},{"startTime":1509.36,"endTime":1513.79,"body":"in their corporate plans aims"},{"startTime":1509.36,"endTime":1513.79,"body":"to plant a million trees,"},{"startTime":1513.79,"endTime":1516.61,"body":"for example, because"},{"startTime":1513.79,"endTime":1516.61,"body":"that's what the government"},{"startTime":1516.61,"endTime":1517.94,"body":"would like them to do."},{"startTime":1517.94,"endTime":1519.98,"body":"And well, why not do it here"},{"startTime":1519.98,"endTime":1521.89,"body":"because then they can link it directly"},{"startTime":1521.89,"endTime":1525.4,"body":"to the livelihoods of people."},{"startTime":1525.4,"endTime":1527.64,"body":"So the innovation that"},{"startTime":1525.4,"endTime":1527.64,"body":"happening here was in fact,"},{"startTime":1527.64,"endTime":1531.64,"body":"what Vincent was working on was to connect"},{"startTime":1531.64,"endTime":1535.04,"body":"the community development"},{"startTime":1531.64,"endTime":1535.04,"body":"work that had been done,"},{"startTime":1535.04,"endTime":1537.28,"body":"building from the bottom upwards."},{"startTime":1537.28,"endTime":1539.78,"body":"Co-designing what should this look like?"},{"startTime":1539.78,"endTime":1542.84,"body":"How could this enterprise work?"},{"startTime":1542.84,"endTime":1546.3,"body":"Could we get lots of young"},{"startTime":1542.84,"endTime":1546.3,"body":"people involved as entrepreneurs?"},{"startTime":1546.3,"endTime":1549.01,"body":"How could we do that"},{"startTime":1546.3,"endTime":1549.01,"body":"and then understanding"},{"startTime":1549.01,"endTime":1551.7,"body":"what was happening to this asset,"},{"startTime":1551.7,"endTime":1553.09,"body":"modeling what would happen,"},{"startTime":1553.09,"endTime":1556.52,"body":"bringing people together,"},{"startTime":1553.09,"endTime":1556.52,"body":"creating a co-laboratory."},{"startTime":1556.52,"endTime":1559.45,"body":"And then out of that,"},{"startTime":1556.52,"endTime":1559.45,"body":"designing the metrics,"},{"startTime":1559.45,"endTime":1562.54,"body":"designing the kind of indices"},{"startTime":1559.45,"endTime":1562.54,"body":"that could then make it"},{"startTime":1562.54,"endTime":1565.89,"body":"into a setting where people would invest"},{"startTime":1565.89,"endTime":1567.63,"body":"and then bringing the community together"},{"startTime":1567.63,"endTime":1570.04,"body":"to deliberate on, well,"},{"startTime":1567.63,"endTime":1570.04,"body":"what are the scenarios?"},{"startTime":1570.04,"endTime":1572.37,"body":"What kind of future do we want here?"},{"startTime":1572.37,"endTime":1573.87,"body":"We want to have better livelihoods."},{"startTime":1573.87,"endTime":1575.73,"body":"We want our children to go to school."},{"startTime":1575.73,"endTime":1578.04,"body":"We would like to be able"},{"startTime":1575.73,"endTime":1578.04,"body":"to grow food and eat it"},{"startTime":1578.04,"endTime":1579.5,"body":"and it's healthy."},{"startTime":1579.5,"endTime":1582.353,"body":"We would like to have"},{"startTime":1579.5,"endTime":1582.353,"body":"access to markets and so on."},{"startTime":1583.24,"endTime":1588.24,"body":"So that whole stage built"},{"startTime":1583.24,"endTime":1588.24,"body":"trust and in the end it meant"},{"startTime":1588.44,"endTime":1591.2,"body":"that all of this data was used."},{"startTime":1591.2,"endTime":1594.044,"body":"All of this data has"},{"startTime":1591.2,"endTime":1594.044,"body":"been absolutely essential"},{"startTime":1594.044,"endTime":1597.555,"body":"to underpin the evidence"},{"startTime":1594.044,"endTime":1597.555,"body":"to give people confidence"},{"startTime":1597.555,"endTime":1600.37,"body":"to invest in this particular asset,"},{"startTime":1600.37,"endTime":1602.6,"body":"this particular capital asset."},{"startTime":1602.6,"endTime":1605.33,"body":"Now the degree of innovation"},{"startTime":1602.6,"endTime":1605.33,"body":"is quite extraordinary"},{"startTime":1605.33,"endTime":1607.95,"body":"because it's not just about"},{"startTime":1605.33,"endTime":1607.95,"body":"counting a number of trees,"},{"startTime":1607.95,"endTime":1610.04,"body":"it's about saying, what"},{"startTime":1607.95,"endTime":1610.04,"body":"are the trees doing"},{"startTime":1610.04,"endTime":1612.76,"body":"and how are they healthy"},{"startTime":1610.04,"endTime":1612.76,"body":"and how many are there"},{"startTime":1612.76,"endTime":1614.05,"body":"and should we plant some more"},{"startTime":1614.05,"endTime":1615.77,"body":"and are the farmers doing the right things"},{"startTime":1615.77,"endTime":1618.79,"body":"and are we growing the right"},{"startTime":1615.77,"endTime":1618.79,"body":"food and so on and so forth?"},{"startTime":1618.79,"endTime":1622.11,"body":"So it has required enormous"},{"startTime":1618.79,"endTime":1622.11,"body":"amount of innovation"},{"startTime":1622.11,"endTime":1625.57,"body":"of mapping, of mobile data"},{"startTime":1622.11,"endTime":1625.57,"body":"and so on and so forth,"},{"startTime":1625.57,"endTime":1628.3,"body":"all done by the communities to the point"},{"startTime":1628.3,"endTime":1631.33,"body":"where we had in the first instances,"},{"startTime":1631.33,"endTime":1633.573,"body":"a natural capital investment platform."},{"startTime":1634.68,"endTime":1637.687,"body":"And what it did was"},{"startTime":1634.68,"endTime":1637.687,"body":"effectively tick all the boxes"},{"startTime":1637.687,"endTime":1641.94,"body":"on big international policies"},{"startTime":1637.687,"endTime":1641.94,"body":"like Forest Restoration,"},{"startTime":1641.94,"endTime":1643.93,"body":"a big program under the UN,"},{"startTime":1643.93,"endTime":1648.52,"body":"carbon circulation for net"},{"startTime":1643.93,"endTime":1648.52,"body":"zero, indigenous medicines,"},{"startTime":1648.52,"endTime":1650.31,"body":"people being able to grow trees"},{"startTime":1650.31,"endTime":1652.38,"body":"that would actually generate medicines,"},{"startTime":1652.38,"endTime":1655.11,"body":"ticking the boxes on ESG environment,"},{"startTime":1655.11,"endTime":1658.21,"body":"social and governance"},{"startTime":1655.11,"endTime":1658.21,"body":"aspects of companies,"},{"startTime":1658.21,"endTime":1660.1,"body":"and then creating, living shares."},{"startTime":1660.1,"endTime":1662.81,"body":"In other words, if you've"},{"startTime":1660.1,"endTime":1662.81,"body":"taken care of your land"},{"startTime":1662.81,"endTime":1666.2,"body":"and you've invested and you've"},{"startTime":1662.81,"endTime":1666.2,"body":"been able to bring together,"},{"startTime":1666.2,"endTime":1669.94,"body":"let's say a rather innovative"},{"startTime":1666.2,"endTime":1669.94,"body":"mix of trees and so on,"},{"startTime":1669.94,"endTime":1672.62,"body":"then you'll receive more for your land"},{"startTime":1672.62,"endTime":1675.46,"body":"because it's actually more productive."},{"startTime":1675.46,"endTime":1680.46,"body":"So this whole way of"},{"startTime":1675.46,"endTime":1680.46,"body":"working has put together"},{"startTime":1680.68,"endTime":1683.3,"body":"not only about a 100,000 households,"},{"startTime":1683.3,"endTime":1686.27,"body":"but has created an opportunity"},{"startTime":1683.3,"endTime":1686.27,"body":"for young entrepreneurs"},{"startTime":1686.27,"endTime":1687.87,"body":"across the whole region"},{"startTime":1687.87,"endTime":1690.88,"body":"to start up small businesses everywhere"},{"startTime":1690.88,"endTime":1693.41,"body":"literally under this big umbrella"},{"startTime":1693.41,"endTime":1698.41,"body":"of the natural capital company"},{"startTime":1693.41,"endTime":1698.41,"body":"to be able to sell carbon."},{"startTime":1698.47,"endTime":1700.75,"body":"And it's all tied back"},{"startTime":1698.47,"endTime":1700.75,"body":"into this, how many trees,"},{"startTime":1700.75,"endTime":1702.87,"body":"how fast are they growing and so on?"},{"startTime":1702.87,"endTime":1704.54,"body":"And who's looking after them."},{"startTime":1704.54,"endTime":1707.07,"body":"So these young people are able"},{"startTime":1707.07,"endTime":1711.6,"body":"to possibly bring more"},{"startTime":1707.07,"endTime":1711.6,"body":"revenue into their household"},{"startTime":1711.6,"endTime":1713.18,"body":"than has ever been experienced."},{"startTime":1713.18,"endTime":1717.34,"body":"And it's quite a sort of"},{"startTime":1713.18,"endTime":1717.34,"body":"transformation that has happened."},{"startTime":1717.34,"endTime":1722.02,"body":"So it's no longer the agrarian"},{"startTime":1717.34,"endTime":1722.02,"body":"failure that's happened."},{"startTime":1722.02,"endTime":1725.16,"body":"And what of course is occurring"},{"startTime":1722.02,"endTime":1725.16,"body":"is that production trees"},{"startTime":1725.16,"endTime":1728.15,"body":"like avocados and so on are coming in."},{"startTime":1728.15,"endTime":1731.1,"body":"And what that's brought"},{"startTime":1728.15,"endTime":1731.1,"body":"is a lot of thinking about"},{"startTime":1731.1,"endTime":1736.1,"body":"new species, new types of"},{"startTime":1731.1,"endTime":1736.1,"body":"watering and so on and so forth."},{"startTime":1736.96,"endTime":1738.97,"body":"So it kind of snowballs."},{"startTime":1738.97,"endTime":1741.79,"body":"And what is happening on the ground is"},{"startTime":1741.79,"endTime":1745.31,"body":"this enabling environment has"},{"startTime":1741.79,"endTime":1745.31,"body":"opened up huge opportunities"},{"startTime":1745.31,"endTime":1746.69,"body":"for lots of people."},{"startTime":1746.69,"endTime":1748.98,"body":"So we have young people now being able"},{"startTime":1748.98,"endTime":1751.25,"body":"to operate a small transport business"},{"startTime":1751.25,"endTime":1753.65,"body":"because there's now actually"},{"startTime":1751.25,"endTime":1753.65,"body":"things moving around"},{"startTime":1753.65,"endTime":1755.53,"body":"and they can get enough"},{"startTime":1753.65,"endTime":1755.53,"body":"money to get there."},{"startTime":1755.53,"endTime":1757.6,"body":"So it's all little pieces,"},{"startTime":1757.6,"endTime":1761.44,"body":"but people thinking of"},{"startTime":1757.6,"endTime":1761.44,"body":"innovative ways to make a living"},{"startTime":1761.44,"endTime":1763.99,"body":"because of the safety of this rather large"},{"startTime":1763.99,"endTime":1767.483,"body":"collectively community"},{"startTime":1763.99,"endTime":1767.483,"body":"designed, I call it umbrella."},{"startTime":1769.77,"endTime":1772.73,"body":"So out of all of that,"},{"startTime":1769.77,"endTime":1772.73,"body":"there's a whole series"},{"startTime":1772.73,"endTime":1776.08,"body":"of what we would call"},{"startTime":1772.73,"endTime":1776.08,"body":"innovation design principles."},{"startTime":1776.08,"endTime":1778.18,"body":"So first and foremost,"},{"startTime":1776.08,"endTime":1778.18,"body":"you should have a goal."},{"startTime":1778.18,"endTime":1779.47,"body":"There's no doubt about it."},{"startTime":1779.47,"endTime":1782.04,"body":"I mean, promoting the"},{"startTime":1779.47,"endTime":1782.04,"body":"wellbeing of people and planet,"},{"startTime":1782.04,"endTime":1785.0,"body":"if you just stop and think at every stage"},{"startTime":1785.0,"endTime":1786.87,"body":"of the development of a business,"},{"startTime":1786.87,"endTime":1789.78,"body":"or when you're talking to"},{"startTime":1786.87,"endTime":1789.78,"body":"young people about an idea,"},{"startTime":1789.78,"endTime":1791.41,"body":"I mean, it's a simple checklist."},{"startTime":1791.41,"endTime":1794.36,"body":"Is this going to be good for us"},{"startTime":1791.41,"endTime":1794.36,"body":"and is it good for the planet?"},{"startTime":1796.84,"endTime":1798.42,"body":"No one size fits all."},{"startTime":1798.42,"endTime":1800.98,"body":"And that's really important"},{"startTime":1798.42,"endTime":1800.98,"body":"is remember I said of about,"},{"startTime":1800.98,"endTime":1802.78,"body":"don't try and tell an Australian farmer"},{"startTime":1802.78,"endTime":1805.88,"body":"about their soils and use US data."},{"startTime":1805.88,"endTime":1808.21,"body":"Everything actually is contextual."},{"startTime":1808.21,"endTime":1809.84,"body":"And although I'm a scientist,"},{"startTime":1809.84,"endTime":1813.99,"body":"I am absolutely amazed"},{"startTime":1809.84,"endTime":1813.99,"body":"at how the slummy slicing"},{"startTime":1813.99,"endTime":1816.87,"body":"of knowledge is incredibly important"},{"startTime":1816.87,"endTime":1818.86,"body":"if you want people to intervene"},{"startTime":1818.86,"endTime":1821.91,"body":"and take care of their"},{"startTime":1818.86,"endTime":1821.91,"body":"patch of planet earth."},{"startTime":1821.91,"endTime":1825.73,"body":"So contextual is important,"},{"startTime":1821.91,"endTime":1825.73,"body":"but it's also vital"},{"startTime":1825.73,"endTime":1828.96,"body":"in terms of local values"},{"startTime":1825.73,"endTime":1828.96,"body":"and culture and so on."},{"startTime":1828.96,"endTime":1833.8,"body":"So again, I repeat, it's a wonder to me"},{"startTime":1833.8,"endTime":1838.8,"body":"that some of the best ideas"},{"startTime":1833.8,"endTime":1838.8,"body":"haven't spread things like Mpesa"},{"startTime":1839.07,"endTime":1842.33,"body":"where you can pay on your"},{"startTime":1839.07,"endTime":1842.33,"body":"phone for everything."},{"startTime":1842.33,"endTime":1844.483,"body":"You don't need a bank account in Kenya."},{"startTime":1845.66,"endTime":1849.01,"body":"It hasn't spread in many places"},{"startTime":1845.66,"endTime":1849.01,"body":"because the central banks"},{"startTime":1849.01,"endTime":1852.69,"body":"will not relinquish that authority"},{"startTime":1852.69,"endTime":1855.02,"body":"for people to be able to"},{"startTime":1852.69,"endTime":1855.02,"body":"make payments on their phone"},{"startTime":1855.02,"endTime":1857.0,"body":"to the telecom industry."},{"startTime":1857.0,"endTime":1858.51,"body":"But if you look at what happened"},{"startTime":1858.51,"endTime":1862.41,"body":"with that relatively small"},{"startTime":1858.51,"endTime":1862.41,"body":"innovation 15 years ago"},{"startTime":1862.41,"endTime":1866.28,"body":"and where it is today,"},{"startTime":1862.41,"endTime":1866.28,"body":"it's probably facilitated"},{"startTime":1866.28,"endTime":1871.28,"body":"a fantastically sort of"},{"startTime":1866.28,"endTime":1871.28,"body":"diverse set of businesses"},{"startTime":1872.32,"endTime":1874.78,"body":"and economies across the whole of Kenya"},{"startTime":1874.78,"endTime":1877.033,"body":"and of course in a couple other places."},{"startTime":1878.11,"endTime":1880.65,"body":"So no one size fits all experiment,"},{"startTime":1880.65,"endTime":1882.16,"body":"things are going to go wrong."},{"startTime":1882.16,"endTime":1886.1,"body":"So we need to encourage our"},{"startTime":1882.16,"endTime":1886.1,"body":"innovators to have a go."},{"startTime":1886.1,"endTime":1888.71,"body":"And one of the crucial"},{"startTime":1886.1,"endTime":1888.71,"body":"differences I'll come to this"},{"startTime":1888.71,"endTime":1890.61,"body":"in the moment is the"},{"startTime":1888.71,"endTime":1890.61,"body":"difference between an incubator"},{"startTime":1890.61,"endTime":1893.3,"body":"and an accelerator where"},{"startTime":1890.61,"endTime":1893.3,"body":"we are going to need"},{"startTime":1893.3,"endTime":1894.956,"body":"more and more accelerators,"},{"startTime":1894.956,"endTime":1897.33,"body":"but sometimes you need to have incubators."},{"startTime":1897.33,"endTime":1899.13,"body":"You need people to come in and feel safe"},{"startTime":1899.13,"endTime":1901.61,"body":"and they can do things"},{"startTime":1899.13,"endTime":1901.61,"body":"and they can go wrong"},{"startTime":1901.61,"endTime":1902.78,"body":"and then you try again."},{"startTime":1902.78,"endTime":1906.99,"body":"So we need to create these"},{"startTime":1902.78,"endTime":1906.99,"body":"opportunities as well"},{"startTime":1906.99,"endTime":1910.883,"body":"to be able to foster the idea"},{"startTime":1906.99,"endTime":1910.883,"body":"of it's okay to make mistakes."},{"startTime":1912.12,"endTime":1914.16,"body":"Participatory without a shadow of doubt,"},{"startTime":1914.16,"endTime":1916.7,"body":"the design that comes"},{"startTime":1914.16,"endTime":1916.7,"body":"from a group of people"},{"startTime":1916.7,"endTime":1918.27,"body":"is invariably better."},{"startTime":1918.27,"endTime":1920.27,"body":"The intelligence and wisdom of crowds,"},{"startTime":1920.27,"endTime":1922.2,"body":"many people snare at it,"},{"startTime":1922.2,"endTime":1925.17,"body":"but there are so many examples where even"},{"startTime":1925.17,"endTime":1926.27,"body":"when you take a group of people"},{"startTime":1926.27,"endTime":1928.93,"body":"who know very little"},{"startTime":1926.27,"endTime":1928.93,"body":"about a particular topic,"},{"startTime":1928.93,"endTime":1931.85,"body":"they generally can come"},{"startTime":1928.93,"endTime":1931.85,"body":"out with a very interesting"},{"startTime":1931.85,"endTime":1935.87,"body":"and close to what one"},{"startTime":1931.85,"endTime":1935.87,"body":"considered to be a good answer."},{"startTime":1935.87,"endTime":1936.78,"body":"It doesn't always happen."},{"startTime":1936.78,"endTime":1940.24,"body":"But anyway, the wisdom of"},{"startTime":1936.78,"endTime":1940.24,"body":"crowds is quite often important,"},{"startTime":1940.24,"endTime":1941.81,"body":"but it's particularly important"},{"startTime":1941.81,"endTime":1944.51,"body":"when we're talking about"},{"startTime":1941.81,"endTime":1944.51,"body":"trying to find solution"},{"startTime":1944.51,"endTime":1945.763,"body":"at a community level."},{"startTime":1946.71,"endTime":1947.9,"body":"Now that's not to say though"},{"startTime":1947.9,"endTime":1951.09,"body":"that the solution doesn't"},{"startTime":1947.9,"endTime":1951.09,"body":"work for all of society."},{"startTime":1951.09,"endTime":1952.16,"body":"That's not what I'm saying."},{"startTime":1952.16,"endTime":1955.42,"body":"What I'm saying is that"},{"startTime":1952.16,"endTime":1955.42,"body":"if you have the confidence"},{"startTime":1955.42,"endTime":1956.87,"body":"from a community led process,"},{"startTime":1956.87,"endTime":1958.97,"body":"then you will in fact be able to see"},{"startTime":1958.97,"endTime":1961.07,"body":"how you get investors in through the door."},{"startTime":1961.92,"endTime":1963.97,"body":"Recognizing the strength"},{"startTime":1961.92,"endTime":1963.97,"body":"of communities though,"},{"startTime":1963.97,"endTime":1964.923,"body":"is another thing."},{"startTime":1965.89,"endTime":1969.41,"body":"People have a lot of"},{"startTime":1965.89,"endTime":1969.41,"body":"wisdom often about things"},{"startTime":1969.41,"endTime":1972.0,"body":"that they haven't recognized"},{"startTime":1969.41,"endTime":1972.0,"body":"are missing things"},{"startTime":1972.0,"endTime":1975.96,"body":"missing in the kind of"},{"startTime":1972.0,"endTime":1975.96,"body":"range of observations."},{"startTime":1975.96,"endTime":1980.23,"body":"When we talk about climate"},{"startTime":1975.96,"endTime":1980.23,"body":"change and we see so many crops,"},{"startTime":1980.23,"endTime":1984.65,"body":"so many changes in wildlife,"},{"startTime":1980.23,"endTime":1984.65,"body":"the movement of disease,"},{"startTime":1984.65,"endTime":1988.63,"body":"and so on, it's extraordinary"},{"startTime":1984.65,"endTime":1988.63,"body":"to note how often"},{"startTime":1988.63,"endTime":1993.41,"body":"when we do epidemiological"},{"startTime":1988.63,"endTime":1993.41,"body":"surveys and we're interviewing"},{"startTime":1993.41,"endTime":1995.62,"body":"let's say livestock handlers"},{"startTime":1995.62,"endTime":2000.62,"body":"or people who are growing"},{"startTime":1995.62,"endTime":2000.62,"body":"crops, how do detect changes?"},{"startTime":2001.07,"endTime":2004.18,"body":"They may take risks about"},{"startTime":2001.07,"endTime":2004.18,"body":"planting a particular crop"},{"startTime":2004.18,"endTime":2006.793,"body":"in terms of, will it"},{"startTime":2004.18,"endTime":2006.793,"body":"succeed or will it fail?"},{"startTime":2007.72,"endTime":2010.85,"body":"But there's also elements"},{"startTime":2007.72,"endTime":2010.85,"body":"about crops that are changing."},{"startTime":2010.85,"endTime":2015.85,"body":"And so we have people who are not aware"},{"startTime":2016.05,"endTime":2018.99,"body":"of what they're doing, but"},{"startTime":2016.05,"endTime":2018.99,"body":"somehow they're intuitively"},{"startTime":2018.99,"endTime":2023.25,"body":"finding solutions to things"},{"startTime":2018.99,"endTime":2023.25,"body":"such as the production"},{"startTime":2023.25,"endTime":2025.33,"body":"of hydrogen cyanide in certain crops"},{"startTime":2025.33,"endTime":2027.16,"body":"in response to climate change,"},{"startTime":2027.16,"endTime":2029.68,"body":"they saw a variety somewhere else,"},{"startTime":2029.68,"endTime":2030.86,"body":"which didn't give an impact."},{"startTime":2030.86,"endTime":2033.18,"body":"They go and get it and they"},{"startTime":2030.86,"endTime":2033.18,"body":"bring it and they grow it."},{"startTime":2033.18,"endTime":2037.08,"body":"And that's going on all the"},{"startTime":2033.18,"endTime":2037.08,"body":"time, literally all the time."},{"startTime":2037.08,"endTime":2038.67,"body":"So one of the things that is then"},{"startTime":2038.67,"endTime":2040.15,"body":"how do you gather that evidence"},{"startTime":2040.15,"endTime":2042.53,"body":"so it can be used again and again."},{"startTime":2042.53,"endTime":2047.53,"body":"And there we simply do need"},{"startTime":2042.53,"endTime":2047.53,"body":"to have a lot more explanation"},{"startTime":2047.66,"endTime":2050.08,"body":"of science, a greater"},{"startTime":2047.66,"endTime":2050.08,"body":"and deeper understanding"},{"startTime":2050.08,"endTime":2051.59,"body":"of science itself."},{"startTime":2051.59,"endTime":2053.92,"body":"And then of course, on the holistic side,"},{"startTime":2053.92,"endTime":2055.573,"body":"we need to bring it all together."},{"startTime":2056.88,"endTime":2059.67,"body":"In the sense of"},{"startTime":2056.88,"endTime":2059.67,"body":"transforming that knowledge"},{"startTime":2059.67,"endTime":2063.52,"body":"into something meaningful, we"},{"startTime":2059.67,"endTime":2063.52,"body":"know that across the world,"},{"startTime":2063.52,"endTime":2067.43,"body":"we've got a lot of people"},{"startTime":2063.52,"endTime":2067.43,"body":"looking for sort of opportunities"},{"startTime":2067.43,"endTime":2072.3,"body":"to invest, but in a"},{"startTime":2067.43,"endTime":2072.3,"body":"sense, we also have to fix"},{"startTime":2072.3,"endTime":2074.63,"body":"a lot of the problems"},{"startTime":2072.3,"endTime":2074.63,"body":"that we had in the past."},{"startTime":2074.63,"endTime":2079.51,"body":"Much of the land, much of the"},{"startTime":2074.63,"endTime":2079.51,"body":"ocean is polluted is damaged."},{"startTime":2079.51,"endTime":2082.6,"body":"And so what we have is a"},{"startTime":2079.51,"endTime":2082.6,"body":"high ambition in the UN"},{"startTime":2082.6,"endTime":2084.49,"body":"it's called the High Ambition Coalition"},{"startTime":2084.49,"endTime":2086.14,"body":"for nature and people."},{"startTime":2086.14,"endTime":2089.616,"body":"And what it says is that we"},{"startTime":2086.14,"endTime":2089.616,"body":"need to keep having research"},{"startTime":2089.616,"endTime":2092.12,"body":"and communities participating"},{"startTime":2092.12,"endTime":2094.17,"body":"so that half of the planet needs"},{"startTime":2094.17,"endTime":2097.172,"body":"to be brought back into a natural state."},{"startTime":2097.172,"endTime":2100.3,"body":"And it's about protecting"},{"startTime":2097.172,"endTime":2100.3,"body":"30% of the planet"},{"startTime":2100.3,"endTime":2103.45,"body":"by 2030 and can continuing to do that."},{"startTime":2103.45,"endTime":2106.59,"body":"So we're in a kind of"},{"startTime":2103.45,"endTime":2106.59,"body":"polar state at the moment."},{"startTime":2106.59,"endTime":2110.65,"body":"Only 15% of the land is"},{"startTime":2106.59,"endTime":2110.65,"body":"protected 7% of the oceans,"},{"startTime":2110.65,"endTime":2113.48,"body":"but the cost of doing that is enormous."},{"startTime":2113.48,"endTime":2117.28,"body":"It's $400 billion every year just to do"},{"startTime":2117.28,"endTime":2118.993,"body":"that bit of the world."},{"startTime":2120.02,"endTime":2124.58,"body":"So how do we sustain that"},{"startTime":2120.02,"endTime":2124.58,"body":"and how do we grow that fund?"},{"startTime":2124.58,"endTime":2125.87,"body":"Well, one of the things is called"},{"startTime":2125.87,"endTime":2129.599,"body":"the task force on nature"},{"startTime":2125.87,"endTime":2129.599,"body":"related financial disclosures."},{"startTime":2129.599,"endTime":2134.09,"body":"And what it says is that if you look"},{"startTime":2134.09,"endTime":2138.249,"body":"at the world's turnover,"},{"startTime":2134.09,"endTime":2138.249,"body":"it's about 44, $45 trillion."},{"startTime":2138.249,"endTime":2142.18,"body":"And you think about how much"},{"startTime":2138.249,"endTime":2142.18,"body":"of that is dependent on nature."},{"startTime":2142.18,"endTime":2145.51,"body":"Of course, it's more than 70%."},{"startTime":2145.51,"endTime":2147.5,"body":"So if you really step"},{"startTime":2145.51,"endTime":2147.5,"body":"back and you think about"},{"startTime":2147.5,"endTime":2151.66,"body":"how our world economy is hinged on nature,"},{"startTime":2151.66,"endTime":2153.72,"body":"on natural resources,"},{"startTime":2153.72,"endTime":2156.96,"body":"and yet here we are"},{"startTime":2153.72,"endTime":2156.96,"body":"continuously taking it down."},{"startTime":2156.96,"endTime":2160.36,"body":"Then the more we can do"},{"startTime":2156.96,"endTime":2160.36,"body":"to essentially put that"},{"startTime":2160.36,"endTime":2163.74,"body":"to one side and to do things"},{"startTime":2160.36,"endTime":2163.74,"body":"like carbon sequestration,"},{"startTime":2163.74,"endTime":2166.923,"body":"do things like water retention"},{"startTime":2163.74,"endTime":2166.923,"body":"and so on the better it is."},{"startTime":2167.8,"endTime":2171.33,"body":"But how to make sure that"},{"startTime":2167.8,"endTime":2171.33,"body":"we also unlock the potential"},{"startTime":2171.33,"endTime":2174.71,"body":"and mainstream investment"},{"startTime":2171.33,"endTime":2174.71,"body":"in natural assets."},{"startTime":2174.71,"endTime":2178.39,"body":"And that's, I think a very,"},{"startTime":2174.71,"endTime":2178.39,"body":"very, very tricky thing,"},{"startTime":2178.39,"endTime":2181.71,"body":"because we have so many,"},{"startTime":2178.39,"endTime":2181.71,"body":"so many problems going on"},{"startTime":2181.71,"endTime":2182.543,"body":"in the world."},{"startTime":2183.49,"endTime":2186.33,"body":"So in many low income countries,"},{"startTime":2186.33,"endTime":2190.2,"body":"you'll see this concept of the last mile."},{"startTime":2190.2,"endTime":2193.85,"body":"And it's about policies"},{"startTime":2190.2,"endTime":2193.85,"body":"that bring the idea"},{"startTime":2193.85,"endTime":2197.2,"body":"of creating livelihoods"},{"startTime":2193.85,"endTime":2197.2,"body":"by connecting people up"},{"startTime":2197.2,"endTime":2198.79,"body":"to the economic machinery."},{"startTime":2198.79,"endTime":2200.41,"body":"It's either water or energy."},{"startTime":2200.41,"endTime":2203.91,"body":"So it's the very last mile,"},{"startTime":2200.41,"endTime":2203.91,"body":"usually the most expensive"},{"startTime":2204.95,"endTime":2207.56,"body":"and quite often they fail."},{"startTime":2207.56,"endTime":2212.56,"body":"So I have so many pictures"},{"startTime":2207.56,"endTime":2212.56,"body":"of poles with no wires"},{"startTime":2213.54,"endTime":2215.87,"body":"because when they got to the last mile,"},{"startTime":2215.87,"endTime":2218.54,"body":"they discovered that there are populations"},{"startTime":2218.54,"endTime":2222.3,"body":"who don't have enough"},{"startTime":2218.54,"endTime":2222.3,"body":"money can't get connected."},{"startTime":2222.3,"endTime":2224.45,"body":"Don't know what a bill"},{"startTime":2222.3,"endTime":2224.45,"body":"is, probably don't want"},{"startTime":2224.45,"endTime":2226.31,"body":"to use the energy or the water"},{"startTime":2226.31,"endTime":2228.28,"body":"in the way that it's being delivered."},{"startTime":2228.28,"endTime":2231.55,"body":"And so the last mile has"},{"startTime":2228.28,"endTime":2231.55,"body":"become the feeding ground,"},{"startTime":2231.55,"endTime":2236.0,"body":"I would say of a huge swathe of innovation"},{"startTime":2236.0,"endTime":2239.19,"body":"because it comes to the"},{"startTime":2236.0,"endTime":2239.19,"body":"point where the jagar note"},{"startTime":2239.19,"endTime":2242.68,"body":"of delivery from the government"},{"startTime":2239.19,"endTime":2242.68,"body":"is we've got it here."},{"startTime":2242.68,"endTime":2245.38,"body":"We've put the grid in,"},{"startTime":2242.68,"endTime":2245.38,"body":"we've got the wires,"},{"startTime":2245.38,"endTime":2247.08,"body":"we've put the poles in the ground."},{"startTime":2248.034,"endTime":2250.55,"body":"Why aren't you having"},{"startTime":2248.034,"endTime":2250.55,"body":"electricity in your house?"},{"startTime":2250.55,"endTime":2253.13,"body":"Well, I'm in a mud hat and"},{"startTime":2250.55,"endTime":2253.13,"body":"I've never had a bill before."},{"startTime":2253.13,"endTime":2254.6,"body":"And I dunno what you're talking about"},{"startTime":2254.6,"endTime":2255.69,"body":"and is it not for free"},{"startTime":2255.69,"endTime":2257.941,"body":"and don't come just out of the wire."},{"startTime":2257.941,"endTime":2260.39,"body":"So many, many things happen."},{"startTime":2260.39,"endTime":2265.11,"body":"And as a result of that, the"},{"startTime":2260.39,"endTime":2265.11,"body":"whole thinking about policies"},{"startTime":2265.11,"endTime":2268.78,"body":"that deliver in this way has"},{"startTime":2265.11,"endTime":2268.78,"body":"really kind of moved away"},{"startTime":2268.78,"endTime":2270.71,"body":"because really what should have happened"},{"startTime":2270.71,"endTime":2272.97,"body":"in the case of reaching"},{"startTime":2270.71,"endTime":2272.97,"body":"the last mile would"},{"startTime":2272.97,"endTime":2274.46,"body":"there should have been a community grid,"},{"startTime":2274.46,"endTime":2276.49,"body":"an off grid solution."},{"startTime":2276.49,"endTime":2279.04,"body":"In other words, a local energy grid,"},{"startTime":2279.04,"endTime":2282.04,"body":"local water production, and so on."},{"startTime":2282.04,"endTime":2284.63,"body":"But that conversation didn't happen"},{"startTime":2284.63,"endTime":2288.19,"body":"because the big power companies"},{"startTime":2284.63,"endTime":2288.19,"body":"were never really empowered"},{"startTime":2288.19,"endTime":2289.363,"body":"to do it in that way."},{"startTime":2290.61,"endTime":2294.31,"body":"And so the idea that social"},{"startTime":2290.61,"endTime":2294.31,"body":"entrepreneurs can enter"},{"startTime":2294.31,"endTime":2297.92,"body":"at this moment is absolutely correct."},{"startTime":2297.92,"endTime":2299.78,"body":"And its not just in developing countries."},{"startTime":2299.78,"endTime":2301.22,"body":"It also true here."},{"startTime":2301.22,"endTime":2303.64,"body":"If you go out to the highlands and islands"},{"startTime":2303.64,"endTime":2306.81,"body":"where to be honest, there"},{"startTime":2303.64,"endTime":2306.81,"body":"is a big kind of gap"},{"startTime":2306.81,"endTime":2308.38,"body":"between what is delivered and"},{"startTime":2308.38,"endTime":2310.07,"body":"what's available on the mainland."},{"startTime":2310.07,"endTime":2312.77,"body":"You find an enormous number"},{"startTime":2310.07,"endTime":2312.77,"body":"of social entrepreneurs"},{"startTime":2312.77,"endTime":2316.76,"body":"who are literally working"},{"startTime":2312.77,"endTime":2316.76,"body":"to create off-grid solutions"},{"startTime":2316.76,"endTime":2318.61,"body":"who have got fantastic ideas about"},{"startTime":2318.61,"endTime":2321.16,"body":"how to use different"},{"startTime":2318.61,"endTime":2321.16,"body":"resources like seaweeds"},{"startTime":2321.16,"endTime":2324.58,"body":"and many other things for"},{"startTime":2321.16,"endTime":2324.58,"body":"pharmaceuticals and so on."},{"startTime":2324.58,"endTime":2328.05,"body":"So the challenges that the"},{"startTime":2324.58,"endTime":2328.05,"body":"sort of the GDP corporate"},{"startTime":2328.05,"endTime":2332.41,"body":"business thinking has always"},{"startTime":2328.05,"endTime":2332.41,"body":"been that we needed policies"},{"startTime":2332.41,"endTime":2334.88,"body":"that encourage products and services"},{"startTime":2334.88,"endTime":2336.79,"body":"to promote economic growth."},{"startTime":2336.79,"endTime":2339.24,"body":"And all you have to do,"},{"startTime":2336.79,"endTime":2339.24,"body":"it becomes a sort of means"},{"startTime":2339.24,"endTime":2340.073,"body":"and ends in itself."},{"startTime":2340.073,"endTime":2344.01,"body":"And all you have to do is"},{"startTime":2340.073,"endTime":2344.01,"body":"effectively just push ahead,"},{"startTime":2344.01,"endTime":2347.92,"body":"even if it is at the detriment"},{"startTime":2344.01,"endTime":2347.92,"body":"of the planet and people."},{"startTime":2347.92,"endTime":2350.93,"body":"And it's almost like a"},{"startTime":2347.92,"endTime":2350.93,"body":"post hoc justification"},{"startTime":2350.93,"endTime":2352.47,"body":"of those initiatives."},{"startTime":2352.47,"endTime":2354.6,"body":"So we can fix it later,"},{"startTime":2354.6,"endTime":2356.37,"body":"we can immediarate the conditions later,"},{"startTime":2356.37,"endTime":2357.74,"body":"but let's just push on."},{"startTime":2357.74,"endTime":2359.7,"body":"Let's just push on."},{"startTime":2359.7,"endTime":2362.22,"body":"And participation is not really part"},{"startTime":2362.22,"endTime":2364.22,"body":"of the business here at all."},{"startTime":2364.22,"endTime":2367.38,"body":"What we want to see is policy innovation."},{"startTime":2367.38,"endTime":2370.14,"body":"So we want to have"},{"startTime":2367.38,"endTime":2370.14,"body":"policies that are developed"},{"startTime":2370.14,"endTime":2372.72,"body":"along the design principles"},{"startTime":2370.14,"endTime":2372.72,"body":"that I put up there"},{"startTime":2373.96,"endTime":2378.16,"body":"because the well being"},{"startTime":2373.96,"endTime":2378.16,"body":"economic policy is a journey."},{"startTime":2378.16,"endTime":2381.73,"body":"It's essentially saying"},{"startTime":2378.16,"endTime":2381.73,"body":"it's about a transformation"},{"startTime":2381.73,"endTime":2383.28,"body":"from the very beginning."},{"startTime":2383.28,"endTime":2385.75,"body":"It has to start with a proper meaningful,"},{"startTime":2385.75,"endTime":2388.13,"body":"democratic engagement,"},{"startTime":2388.13,"endTime":2391.1,"body":"understanding what all"},{"startTime":2388.13,"endTime":2391.1,"body":"the diverse views are"},{"startTime":2391.1,"endTime":2393.55,"body":"of people and their priorities."},{"startTime":2393.55,"endTime":2395.76,"body":"So that actually we can"},{"startTime":2393.55,"endTime":2395.76,"body":"make proper decisions"},{"startTime":2395.76,"endTime":2397.683,"body":"about the values and the goals."},{"startTime":2399.59,"endTime":2400.43,"body":"Can it happen?"},{"startTime":2400.43,"endTime":2401.88,"body":"Yes and it can certainly happen"},{"startTime":2401.88,"endTime":2404.79,"body":"if the alternatives are appealing."},{"startTime":2404.79,"endTime":2407.72,"body":"So there are countries"},{"startTime":2404.79,"endTime":2407.72,"body":"which do a lot of devolution"},{"startTime":2407.72,"endTime":2409.54,"body":"and I don't know how many of you are aware"},{"startTime":2409.54,"endTime":2412.15,"body":"of what happens in Wales, for example,"},{"startTime":2412.15,"endTime":2414.35,"body":"where the future generation"},{"startTime":2412.15,"endTime":2414.35,"body":"and all of the way"},{"startTime":2414.35,"endTime":2416.85,"body":"that they're thinking has been premised"},{"startTime":2416.85,"endTime":2420.62,"body":"on just such a model on a"},{"startTime":2416.85,"endTime":2420.62,"body":"wellbeing economy model."},{"startTime":2420.62,"endTime":2423.76,"body":"And if you look at the way"},{"startTime":2420.62,"endTime":2423.76,"body":"those policies are shaped,"},{"startTime":2423.76,"endTime":2426.13,"body":"they are very, very"},{"startTime":2423.76,"endTime":2426.13,"body":"different to the policies"},{"startTime":2426.13,"endTime":2429.02,"body":"that we have in England, for example."},{"startTime":2429.02,"endTime":2431.68,"body":"So there is a collection of countries"},{"startTime":2431.68,"endTime":2434.85,"body":"called WEGo the Wellbeing"},{"startTime":2431.68,"endTime":2434.85,"body":"Economy Governments"},{"startTime":2434.85,"endTime":2438.81,"body":"which is made up of Iceland,"},{"startTime":2434.85,"endTime":2438.81,"body":"and Finland, and Scotland."},{"startTime":2438.81,"endTime":2440.43,"body":"Wales is sort of in the line."},{"startTime":2440.43,"endTime":2442.75,"body":"Canada has just announced"},{"startTime":2440.43,"endTime":2442.75,"body":"they're going to join,"},{"startTime":2442.75,"endTime":2443.77,"body":"New Zealand."},{"startTime":2443.77,"endTime":2446.43,"body":"Now, you recognize they're all quite small"},{"startTime":2446.43,"endTime":2447.61,"body":"in terms of population."},{"startTime":2447.61,"endTime":2449.2,"body":"They may have a large land mass,"},{"startTime":2449.2,"endTime":2451.48,"body":"but they're small in terms of population."},{"startTime":2451.48,"endTime":2454.5,"body":"But they have taken a conscious decision"},{"startTime":2454.5,"endTime":2457.59,"body":"that policy making and"},{"startTime":2454.5,"endTime":2457.59,"body":"innovation in policy"},{"startTime":2457.59,"endTime":2460.3,"body":"has to go in a very different direction."},{"startTime":2460.3,"endTime":2463.864,"body":"So it really has to be"},{"startTime":2460.3,"endTime":2463.864,"body":"that it's about an economy"},{"startTime":2463.864,"endTime":2466.2,"body":"where people provide for each other,"},{"startTime":2466.2,"endTime":2468.97,"body":"where they have a right to mold the system"},{"startTime":2468.97,"endTime":2471.64,"body":"in accordance with their"},{"startTime":2468.97,"endTime":2471.64,"body":"own values and aspirations"},{"startTime":2472.76,"endTime":2475.47,"body":"and recognizing that it is"},{"startTime":2472.76,"endTime":2475.47,"body":"a journey of transformation."},{"startTime":2475.47,"endTime":2478.78,"body":"So this is a whole different"},{"startTime":2475.47,"endTime":2478.78,"body":"way of making policy making"},{"startTime":2478.78,"endTime":2482.12,"body":"compared to a very rigid civil service,"},{"startTime":2482.12,"endTime":2485.43,"body":"which kind of has a"},{"startTime":2482.12,"endTime":2485.43,"body":"slightly paternalistic view"},{"startTime":2485.43,"endTime":2488.28,"body":"where we know better and we're"},{"startTime":2485.43,"endTime":2488.28,"body":"going to give you the answer."},{"startTime":2489.81,"endTime":2493.58,"body":"So how do you get there and"},{"startTime":2489.81,"endTime":2493.58,"body":"then how do you speed up"},{"startTime":2493.58,"endTime":2496.16,"body":"the adoption of these kinds of policies?"},{"startTime":2496.16,"endTime":2499.81,"body":"Well, I think in a way it's"},{"startTime":2496.16,"endTime":2499.81,"body":"going to happen almost naturally."},{"startTime":2499.81,"endTime":2501.33,"body":"And I'm talking now about England"},{"startTime":2501.33,"endTime":2505.78,"body":"because one of the things"},{"startTime":2501.33,"endTime":2505.78,"body":"about making policies socially"},{"startTime":2505.78,"endTime":2508.53,"body":"and politically attractive"},{"startTime":2505.78,"endTime":2508.53,"body":"and socially attractive"},{"startTime":2508.53,"endTime":2511.84,"body":"and financially attractive"},{"startTime":2508.53,"endTime":2511.84,"body":"is that there's something"},{"startTime":2511.84,"endTime":2512.893,"body":"in it for everybody."},{"startTime":2514.01,"endTime":2517.3,"body":"And if you look at what has"},{"startTime":2514.01,"endTime":2517.3,"body":"happened in policy making"},{"startTime":2517.3,"endTime":2518.5,"body":"around land recently,"},{"startTime":2518.5,"endTime":2522.95,"body":"you'll see that there's just"},{"startTime":2518.5,"endTime":2522.95,"body":"a proliferation of policies."},{"startTime":2522.95,"endTime":2525.97,"body":"There is LMs, which is to"},{"startTime":2522.95,"endTime":2525.97,"body":"do with land management."},{"startTime":2525.97,"endTime":2528.03,"body":"There's the land restoration,"},{"startTime":2528.03,"endTime":2530.01,"body":"there's the renewable energy process."},{"startTime":2530.01,"endTime":2532.74,"body":"There's just a whole raft of things."},{"startTime":2532.74,"endTime":2536.96,"body":"The business readiness, the"},{"startTime":2532.74,"endTime":2536.96,"body":"guilds, the Woodland code,"},{"startTime":2536.96,"endTime":2539.33,"body":"there are so many things to do with food"},{"startTime":2539.33,"endTime":2541.96,"body":"and how we use the land and so on."},{"startTime":2541.96,"endTime":2545.38,"body":"If you talk to farmers, they're saying,"},{"startTime":2545.38,"endTime":2547.58,"body":"well, we actually have no"},{"startTime":2545.38,"endTime":2547.58,"body":"idea which ones to go for."},{"startTime":2547.58,"endTime":2549.203,"body":"And what we don't want"},{"startTime":2547.58,"endTime":2549.203,"body":"to do is, we don't want"},{"startTime":2549.203,"endTime":2551.73,"body":"to give away our land for 30 years"},{"startTime":2551.73,"endTime":2553.56,"body":"and have someone else tell us"},{"startTime":2553.56,"endTime":2555.47,"body":"that we have to actually run our land"},{"startTime":2555.47,"endTime":2557.32,"body":"in this particular way."},{"startTime":2557.32,"endTime":2560.55,"body":"So despite all the best"},{"startTime":2557.32,"endTime":2560.55,"body":"efforts from white hole,"},{"startTime":2560.55,"endTime":2563.03,"body":"it would appear that a lot"},{"startTime":2560.55,"endTime":2563.03,"body":"of farmers would prefer"},{"startTime":2563.03,"endTime":2566.64,"body":"to set up their own system,"},{"startTime":2563.03,"endTime":2566.64,"body":"create their own community,"},{"startTime":2566.64,"endTime":2569.08,"body":"and actually see where"},{"startTime":2566.64,"endTime":2569.08,"body":"the local communities"},{"startTime":2569.08,"endTime":2572.1,"body":"will effectively crowdsource the funds"},{"startTime":2572.1,"endTime":2574.27,"body":"for them to make these"},{"startTime":2572.1,"endTime":2574.27,"body":"changes and for of them"},{"startTime":2574.27,"endTime":2577.52,"body":"in return to produce very"},{"startTime":2574.27,"endTime":2577.52,"body":"healthy nutritious food,"},{"startTime":2577.52,"endTime":2580.0,"body":"and actually try to"},{"startTime":2577.52,"endTime":2580.0,"body":"protect the environment."},{"startTime":2580.0,"endTime":2584.76,"body":"So recognizing the kinds"},{"startTime":2580.0,"endTime":2584.76,"body":"of assets that people have,"},{"startTime":2584.76,"endTime":2588.02,"body":"recognizing the difficulty"},{"startTime":2584.76,"endTime":2588.02,"body":"that innovators will have,"},{"startTime":2588.02,"endTime":2591.08,"body":"if they don't actually get"},{"startTime":2588.02,"endTime":2591.08,"body":"down to the community level"},{"startTime":2591.08,"endTime":2593.85,"body":"is something that is"},{"startTime":2591.08,"endTime":2593.85,"body":"extraordinarily important."},{"startTime":2593.85,"endTime":2596.11,"body":"So when we think about moving from the GDP"},{"startTime":2596.11,"endTime":2599.28,"body":"kind of corporate business"},{"startTime":2596.11,"endTime":2599.28,"body":"where there's one solution,"},{"startTime":2599.28,"endTime":2602.5,"body":"and it will fix everybody"},{"startTime":2599.28,"endTime":2602.5,"body":"to wellbeing entrepreneurs"},{"startTime":2602.5,"endTime":2604.71,"body":"who are actually trying to"},{"startTime":2602.5,"endTime":2604.71,"body":"get all of that knowledge in"},{"startTime":2604.71,"endTime":2607.98,"body":"and make it work locally,"},{"startTime":2604.71,"endTime":2607.98,"body":"you can see that we need"},{"startTime":2607.98,"endTime":2610.97,"body":"a totally different kind"},{"startTime":2607.98,"endTime":2610.97,"body":"of education system,"},{"startTime":2610.97,"endTime":2612.58,"body":"a very different kind of training"},{"startTime":2612.58,"endTime":2615.403,"body":"and a very different"},{"startTime":2612.58,"endTime":2615.403,"body":"type of policy making."},{"startTime":2616.37,"endTime":2619.75,"body":"So I'm going to point again"},{"startTime":2616.37,"endTime":2619.75,"body":"to Essex because it seems"},{"startTime":2619.75,"endTime":2623.08,"body":"to have understood this to the point"},{"startTime":2623.08,"endTime":2626.86,"body":"that it is not only bringing"},{"startTime":2623.08,"endTime":2626.86,"body":"a lot of young innovators"},{"startTime":2626.86,"endTime":2630.01,"body":"in to the council, which is very unusual,"},{"startTime":2630.01,"endTime":2633.71,"body":"but it's also creating a lot of ways"},{"startTime":2633.71,"endTime":2635.68,"body":"in which communities can dialogue around"},{"startTime":2635.68,"endTime":2636.75,"body":"what it is that they want."},{"startTime":2636.75,"endTime":2638.55,"body":"Creating challenge funds,"},{"startTime":2638.55,"endTime":2640.39,"body":"creating ways for people to participate."},{"startTime":2640.39,"endTime":2644.01,"body":"And this model I suspect"},{"startTime":2640.39,"endTime":2644.01,"body":"is going to spread"},{"startTime":2644.01,"endTime":2647.13,"body":"to many other places"},{"startTime":2644.01,"endTime":2647.13,"body":"because development banks,"},{"startTime":2647.13,"endTime":2648.21,"body":"sovereign wealth funds"},{"startTime":2648.21,"endTime":2651.07,"body":"all these different financial"},{"startTime":2648.21,"endTime":2651.07,"body":"instruments want to invest"},{"startTime":2651.07,"endTime":2653.54,"body":"in people who are going"},{"startTime":2651.07,"endTime":2653.54,"body":"to make a difference,"},{"startTime":2653.54,"endTime":2656.61,"body":"but they actually want to see"},{"startTime":2653.54,"endTime":2656.61,"body":"it in a rather formal setting."},{"startTime":2656.61,"endTime":2659.52,"body":"So that's why something"},{"startTime":2656.61,"endTime":2659.52,"body":"like the county councils"},{"startTime":2659.52,"endTime":2661.87,"body":"can provide the backdrop to that."},{"startTime":2661.87,"endTime":2663.65,"body":"Now there are regulatory challenges"},{"startTime":2663.65,"endTime":2664.977,"body":"because of course you"},{"startTime":2663.65,"endTime":2664.977,"body":"can't have innovators"},{"startTime":2664.977,"endTime":2667.97,"body":"and entrepreneurs running"},{"startTime":2664.977,"endTime":2667.97,"body":"around just inventing things"},{"startTime":2667.97,"endTime":2668.803,"body":"and then sort of manufacturing them"},{"startTime":2668.803,"endTime":2671.2,"body":"and then sort of sticking"},{"startTime":2668.803,"endTime":2671.2,"body":"them out into the market."},{"startTime":2671.2,"endTime":2673.29,"body":"So that's clear that we do need"},{"startTime":2673.29,"endTime":2675.77,"body":"to have some regulatory process,"},{"startTime":2675.77,"endTime":2677.92,"body":"but the crucial thing is keep your eye"},{"startTime":2677.92,"endTime":2679.85,"body":"on the thing that really matters."},{"startTime":2679.85,"endTime":2683.85,"body":"And so for me, the umbrella"},{"startTime":2679.85,"endTime":2683.85,"body":"under which this sits"},{"startTime":2683.85,"endTime":2687.72,"body":"is to understand the complexity,"},{"startTime":2687.72,"endTime":2691.25,"body":"understand the real risks and understand"},{"startTime":2691.25,"endTime":2694.71,"body":"what the asset classes"},{"startTime":2691.25,"endTime":2694.71,"body":"are that people have"},{"startTime":2694.71,"endTime":2697.16,"body":"so that sort of natural"},{"startTime":2694.71,"endTime":2697.16,"body":"capital, human capital,"},{"startTime":2697.16,"endTime":2698.67,"body":"social capital, and so on."},{"startTime":2698.67,"endTime":2701.1,"body":"And with those, you can actually"},{"startTime":2701.1,"endTime":2703.94,"body":"have a slightly hands off"},{"startTime":2701.1,"endTime":2703.94,"body":"approach allowing people"},{"startTime":2703.94,"endTime":2705.683,"body":"to do this from the bottom up."},{"startTime":2706.81,"endTime":2710.65,"body":"So creating those links at the local level"},{"startTime":2710.65,"endTime":2713.52,"body":"means that people can engage still"},{"startTime":2713.52,"endTime":2714.9,"body":"with large scale projects,"},{"startTime":2714.9,"endTime":2718.06,"body":"because what you really want"},{"startTime":2714.9,"endTime":2718.06,"body":"is for people to articulate."},{"startTime":2718.06,"endTime":2723.06,"body":"Well, I would like to be able"},{"startTime":2718.06,"endTime":2723.06,"body":"to drive my car if I have one,"},{"startTime":2723.31,"endTime":2727.66,"body":"an E vehicle to a place"},{"startTime":2723.31,"endTime":2727.66,"body":"and have it charging,"},{"startTime":2727.66,"endTime":2729.7,"body":"maybe even contributing to the grid,"},{"startTime":2729.7,"endTime":2733.32,"body":"if I've actually put some"},{"startTime":2729.7,"endTime":2733.32,"body":"electricity into of the battery,"},{"startTime":2733.32,"endTime":2734.81,"body":"but I want to be assured of that."},{"startTime":2734.81,"endTime":2736.97,"body":"But then I would also like to be in a hub"},{"startTime":2736.97,"endTime":2739.54,"body":"where like-minded people are."},{"startTime":2739.54,"endTime":2742.59,"body":"So you start to think"},{"startTime":2739.54,"endTime":2742.59,"body":"about the infrastructure"},{"startTime":2742.59,"endTime":2745.92,"body":"because it could be actually"},{"startTime":2742.59,"endTime":2745.92,"body":"quite transformative"},{"startTime":2745.92,"endTime":2749.03,"body":"if you have these sorts of"},{"startTime":2745.92,"endTime":2749.03,"body":"hubs all over the country,"},{"startTime":2749.03,"endTime":2751.12,"body":"but not too far away from each other."},{"startTime":2751.12,"endTime":2752.4,"body":"So you have the social aspect."},{"startTime":2752.4,"endTime":2754.46,"body":"you have the infrastructure"},{"startTime":2752.4,"endTime":2754.46,"body":"aspect and so on."},{"startTime":2754.46,"endTime":2755.96,"body":"So people are generating energy."},{"startTime":2755.96,"endTime":2758.77,"body":"People are actually contributing"},{"startTime":2755.96,"endTime":2758.77,"body":"whilst at the same time,"},{"startTime":2758.77,"endTime":2760.84,"body":"being able to undertake their work,"},{"startTime":2760.84,"endTime":2763.603,"body":"but they do it in this kind"},{"startTime":2760.84,"endTime":2763.603,"body":"of collaborative space."},{"startTime":2764.86,"endTime":2766.37,"body":"It doesn't have to cost a lot of money."},{"startTime":2766.37,"endTime":2769.51,"body":"And this is I think the"},{"startTime":2766.37,"endTime":2769.51,"body":"big surprise is that"},{"startTime":2770.35,"endTime":2775.35,"body":"if you stand back and don't"},{"startTime":2770.35,"endTime":2775.35,"body":"always think about huge pieces"},{"startTime":2775.48,"endTime":2778.48,"body":"of infrastructure, but"},{"startTime":2775.48,"endTime":2778.48,"body":"think about each mile now,"},{"startTime":2778.48,"endTime":2781.5,"body":"or each piece of it, it's very,"},{"startTime":2778.48,"endTime":2781.5,"body":"very clear that people want"},{"startTime":2781.5,"endTime":2784.2,"body":"to contribute to the place"},{"startTime":2781.5,"endTime":2784.2,"body":"that's nearest to them."},{"startTime":2784.2,"endTime":2788.34,"body":"And so, again, looking"},{"startTime":2784.2,"endTime":2788.34,"body":"at the transport east,"},{"startTime":2788.34,"endTime":2791.05,"body":"they've taken this completely"},{"startTime":2788.34,"endTime":2791.05,"body":"different approach."},{"startTime":2791.05,"endTime":2793.74,"body":"They've taken an approach"},{"startTime":2791.05,"endTime":2793.74,"body":"where they are welcoming people"},{"startTime":2793.74,"endTime":2796.98,"body":"to come in with ideas, they're"},{"startTime":2793.74,"endTime":2796.98,"body":"welcoming new technologies."},{"startTime":2796.98,"endTime":2798.84,"body":"They're saying, can you"},{"startTime":2796.98,"endTime":2798.84,"body":"link your new technology"},{"startTime":2798.84,"endTime":2800.68,"body":"to this infrastructure,"},{"startTime":2800.68,"endTime":2803.93,"body":"to this new kind of transportation system?"},{"startTime":2803.93,"endTime":2806.58,"body":"And sure enough, we have hybrids."},{"startTime":2806.58,"endTime":2808.88,"body":"We have hydrogen, we have all kinds"},{"startTime":2808.88,"endTime":2811.63,"body":"of different energy systems"},{"startTime":2808.88,"endTime":2811.63,"body":"trying to stick themselves"},{"startTime":2811.63,"endTime":2815.73,"body":"into the system and creating"},{"startTime":2811.63,"endTime":2815.73,"body":"much more out of the whole lot."},{"startTime":2815.73,"endTime":2818.14,"body":"And of course, what"},{"startTime":2815.73,"endTime":2818.14,"body":"happens is that investors"},{"startTime":2818.14,"endTime":2819.61,"body":"are extremely important."},{"startTime":2819.61,"endTime":2821.685,"body":"And from that, we have the possibility"},{"startTime":2821.685,"endTime":2824.293,"body":"of a new entrepreneurial academy."},{"startTime":2825.51,"endTime":2829.42,"body":"So two examples, one crowd funding,"},{"startTime":2829.42,"endTime":2831.3,"body":"which I think I mentioned"},{"startTime":2829.42,"endTime":2831.3,"body":"a little bit earlier,"},{"startTime":2831.3,"endTime":2835.86,"body":"where you put the idea of"},{"startTime":2831.3,"endTime":2835.86,"body":"improving something locally,"},{"startTime":2835.86,"endTime":2839.78,"body":"you give your kind of large"},{"startTime":2835.86,"endTime":2839.78,"body":"scale community an idea"},{"startTime":2839.78,"endTime":2841.91,"body":"of how they could participate"},{"startTime":2841.91,"endTime":2845.09,"body":"by making it let's say"},{"startTime":2841.91,"endTime":2845.09,"body":"a county council bond."},{"startTime":2845.09,"endTime":2847.46,"body":"And everyone feels quite"},{"startTime":2845.09,"endTime":2847.46,"body":"comfortable about that."},{"startTime":2847.46,"endTime":2849.61,"body":"The county council can use its funds,"},{"startTime":2849.61,"endTime":2851.79,"body":"its pension funds in different ways,"},{"startTime":2851.79,"endTime":2854.66,"body":"but most importantly, people see it."},{"startTime":2854.66,"endTime":2855.5,"body":"They put their money in"},{"startTime":2855.5,"endTime":2857.46,"body":"and they see something happening locally."},{"startTime":2857.46,"endTime":2859.93,"body":"So the crowdfund is a really great example"},{"startTime":2859.93,"endTime":2863.42,"body":"of how you can bring people"},{"startTime":2859.93,"endTime":2863.42,"body":"to develop the projects,"},{"startTime":2863.42,"endTime":2864.92,"body":"to do the screening and to decide"},{"startTime":2864.92,"endTime":2868.44,"body":"on how they want to see the"},{"startTime":2864.92,"endTime":2868.44,"body":"public pledge and the money."},{"startTime":2868.44,"endTime":2871.75,"body":"And First Forward is a group"},{"startTime":2868.44,"endTime":2871.75,"body":"of young entrepreneurs."},{"startTime":2871.75,"endTime":2876.61,"body":"They have set up in London,"},{"startTime":2871.75,"endTime":2876.61,"body":"but they're also in Lebanon,"},{"startTime":2877.83,"endTime":2881.73,"body":"in the Caribbean, in Kenya and"},{"startTime":2877.83,"endTime":2881.73,"body":"a few other places as well."},{"startTime":2881.73,"endTime":2883.51,"body":"And what they've been able to do"},{"startTime":2883.51,"endTime":2888.4,"body":"is to bring a small group of"},{"startTime":2883.51,"endTime":2888.4,"body":"investors around once a month,"},{"startTime":2888.4,"endTime":2890.66,"body":"but they connect across the world."},{"startTime":2890.66,"endTime":2894.77,"body":"So let's say the idea is how"},{"startTime":2890.66,"endTime":2894.77,"body":"do you make value out of waste?"},{"startTime":2894.77,"endTime":2896.25,"body":"You'll have a lady in Grenada,"},{"startTime":2896.25,"endTime":2898.2,"body":"you'll have a person in Kenya,"},{"startTime":2898.2,"endTime":2901.12,"body":"you'll have somebody from"},{"startTime":2898.2,"endTime":2901.12,"body":"London, somebody from Lebanon."},{"startTime":2901.12,"endTime":2905.0,"body":"And they'd all come in with"},{"startTime":2901.12,"endTime":2905.0,"body":"their different contextual ideas"},{"startTime":2905.0,"endTime":2908.44,"body":"of how to put value how to value waste."},{"startTime":2908.44,"endTime":2911.23,"body":"And then of course you"},{"startTime":2908.44,"endTime":2911.23,"body":"get an amazing setting"},{"startTime":2911.23,"endTime":2913.83,"body":"where people start to live"},{"startTime":2911.23,"endTime":2913.83,"body":"off each other's ideas"},{"startTime":2913.83,"endTime":2916.14,"body":"and they create and they"},{"startTime":2913.83,"endTime":2916.14,"body":"share the solutions."},{"startTime":2916.14,"endTime":2918.06,"body":"And then obviously what's happening"},{"startTime":2918.06,"endTime":2919.5,"body":"is of course investors are coming in."},{"startTime":2919.5,"endTime":2921.42,"body":"They're very interested in this."},{"startTime":2921.42,"endTime":2924.88,"body":"So it's very unusual to have settings"},{"startTime":2924.88,"endTime":2928.19,"body":"where young people particularly"},{"startTime":2924.88,"endTime":2928.19,"body":"can meet investors."},{"startTime":2928.19,"endTime":2932.31,"body":"But it's also very rare"},{"startTime":2928.19,"endTime":2932.31,"body":"these days, unfortunately,"},{"startTime":2932.31,"endTime":2935.03,"body":"where young people can"},{"startTime":2932.31,"endTime":2935.03,"body":"have those opportunities"},{"startTime":2935.03,"endTime":2936.22,"body":"to exchange ideas."},{"startTime":2936.22,"endTime":2937.91,"body":"If you're outside a university,"},{"startTime":2937.91,"endTime":2939.83,"body":"if you're outside a research setting,"},{"startTime":2939.83,"endTime":2941.92,"body":"it is really difficult."},{"startTime":2941.92,"endTime":2945.38,"body":"And so what's very"},{"startTime":2941.92,"endTime":2945.38,"body":"interesting then is that"},{"startTime":2945.38,"endTime":2949.25,"body":"if you set up environments"},{"startTime":2945.38,"endTime":2949.25,"body":"for collaboration"},{"startTime":2949.25,"endTime":2951.65,"body":"where people can do all of this together,"},{"startTime":2951.65,"endTime":2954.57,"body":"they are always bound for success."},{"startTime":2954.57,"endTime":2958.15,"body":"So I want to give you"},{"startTime":2954.57,"endTime":2958.15,"body":"one amazing case study."},{"startTime":2958.15,"endTime":2959.403,"body":"It's called Shujaaz."},{"startTime":2960.5,"endTime":2962.54,"body":"Now Shujaaz is essentially,"},{"startTime":2962.54,"endTime":2964.883,"body":"it's a community of social ventures."},{"startTime":2967.461,"endTime":2971.07,"body":"It's Africa's biggest youth brand."},{"startTime":2971.07,"endTime":2973.81,"body":"And it started out as"},{"startTime":2971.07,"endTime":2973.81,"body":"a multimedia platform,"},{"startTime":2973.81,"endTime":2975.703,"body":"a youth platform in 2009."},{"startTime":2976.77,"endTime":2981.77,"body":"Today it's got 7.3 million"},{"startTime":2976.77,"endTime":2981.77,"body":"comic book readers."},{"startTime":2982.91,"endTime":2985.4,"body":"Now you might wonder why the comic book,"},{"startTime":2985.4,"endTime":2988.38,"body":"but in 2009, comic books were actually"},{"startTime":2988.38,"endTime":2991.09,"body":"an amazing innovation."},{"startTime":2991.09,"endTime":2994.67,"body":"And what the they were"},{"startTime":2991.09,"endTime":2994.67,"body":"doing was to take ideas"},{"startTime":2994.67,"endTime":2997.83,"body":"and stories and put them into the comics."},{"startTime":2997.83,"endTime":3001.75,"body":"And these comics were sent"},{"startTime":2997.83,"endTime":3001.75,"body":"out to schools all over."},{"startTime":3001.75,"endTime":3004.19,"body":"But they weren't just comics that were"},{"startTime":3006.04,"endTime":3008.9,"body":"about sort of little stories."},{"startTime":3008.9,"endTime":3012.63,"body":"These were stories about"},{"startTime":3008.9,"endTime":3012.63,"body":"individuals, real individuals"},{"startTime":3012.63,"endTime":3015.96,"body":"and that's now migrated of"},{"startTime":3012.63,"endTime":3015.96,"body":"course into little videos"},{"startTime":3015.96,"endTime":3018.25,"body":"and so on short ones about people"},{"startTime":3018.25,"endTime":3021.15,"body":"who had made a success in their life."},{"startTime":3021.15,"endTime":3026.15,"body":"I did this and it worked and"},{"startTime":3021.15,"endTime":3026.15,"body":"I did that and it worked."},{"startTime":3026.16,"endTime":3028.23,"body":"So they now have hundreds."},{"startTime":3028.23,"endTime":3032.09,"body":"I think they've got"},{"startTime":3028.23,"endTime":3032.09,"body":"60,000 little short videos"},{"startTime":3032.09,"endTime":3035.073,"body":"of people who made a"},{"startTime":3032.09,"endTime":3035.073,"body":"success out of something."},{"startTime":3036.12,"endTime":3038.24,"body":"And so Shujaaz hosts all of that."},{"startTime":3038.24,"endTime":3041.42,"body":"So you want to find how"},{"startTime":3038.24,"endTime":3041.42,"body":"to set up a little company"},{"startTime":3041.42,"endTime":3044.01,"body":"to sell tomatoes?"},{"startTime":3044.01,"endTime":3047.22,"body":"There's a story there how"},{"startTime":3044.01,"endTime":3047.22,"body":"some young person did it"},{"startTime":3047.22,"endTime":3049.063,"body":"and how they connected it and so on."},{"startTime":3050.0,"endTime":3052.003,"body":"So that's the multimedia youth platform."},{"startTime":3052.95,"endTime":3054.16,"body":"The next thing they've done,"},{"startTime":3054.16,"endTime":3055.91,"body":"which I think is really interesting"},{"startTime":3057.23,"endTime":3059.78,"body":"it's really to challenge this idea of"},{"startTime":3063.03,"endTime":3065.61,"body":"a lot of young people"},{"startTime":3063.03,"endTime":3065.61,"body":"they go to university,"},{"startTime":3065.61,"endTime":3068.43,"body":"they get through, they've got their degree"},{"startTime":3068.43,"endTime":3070.05,"body":"and then there's no jobs."},{"startTime":3070.05,"endTime":3071.43,"body":"I mean, there literally is nothing."},{"startTime":3071.43,"endTime":3074.04,"body":"They're never going to make"},{"startTime":3071.43,"endTime":3074.04,"body":"it into the formal economy."},{"startTime":3074.04,"endTime":3076.12,"body":"So they're out there and how can they get"},{"startTime":3076.12,"endTime":3078.06,"body":"into the even the informal economy?"},{"startTime":3078.06,"endTime":3079.33,"body":"What can they do?"},{"startTime":3079.33,"endTime":3081.34,"body":"So what Shujaaz has done"},{"startTime":3079.33,"endTime":3081.34,"body":"is invented something"},{"startTime":3081.34,"endTime":3083.62,"body":"called the Hustler MBA."},{"startTime":3083.62,"endTime":3087.09,"body":"So the Hustler MBA, there's a"},{"startTime":3083.62,"endTime":3087.09,"body":"very Kenyan word by the way,"},{"startTime":3087.09,"endTime":3090.63,"body":"but it's an MBA system"},{"startTime":3087.09,"endTime":3090.63,"body":"where you gain credits."},{"startTime":3090.63,"endTime":3094.41,"body":"So you can take courses and"},{"startTime":3090.63,"endTime":3094.41,"body":"you can get a little credit."},{"startTime":3094.41,"endTime":3098.87,"body":"And if you do something and"},{"startTime":3094.41,"endTime":3098.87,"body":"teach you get another credit."},{"startTime":3098.87,"endTime":3101.45,"body":"The crucial thing about"},{"startTime":3098.87,"endTime":3101.45,"body":"the credit system is that"},{"startTime":3101.45,"endTime":3105.23,"body":"having gone through this sort"},{"startTime":3101.45,"endTime":3105.23,"body":"of online training program,"},{"startTime":3105.23,"endTime":3108.41,"body":"they've already in the last, since April,"},{"startTime":3108.41,"endTime":3111.08,"body":"they've had 250,000 people"},{"startTime":3111.08,"endTime":3113.2,"body":"go through this peer to peer learning."},{"startTime":3113.2,"endTime":3116.37,"body":"It's just on a scale"},{"startTime":3113.2,"endTime":3116.37,"body":"you can hardly imagine."},{"startTime":3116.37,"endTime":3120.54,"body":"But what's amazing is"},{"startTime":3116.37,"endTime":3120.54,"body":"that IKEA comes along,"},{"startTime":3120.54,"endTime":3122.42,"body":"Unilever comes along and says,"},{"startTime":3122.42,"endTime":3126.964,"body":"we are looking for 60,000 salespersons"},{"startTime":3126.964,"endTime":3128.88,"body":"and we don't know how to get them."},{"startTime":3128.88,"endTime":3131.08,"body":"So they come to Shujaaz because"},{"startTime":3128.88,"endTime":3131.08,"body":"they've got their credit,"},{"startTime":3131.08,"endTime":3132.59,"body":"they've got their badge you see,"},{"startTime":3132.59,"endTime":3135.22,"body":"they've got little thing"},{"startTime":3132.59,"endTime":3135.22,"body":"that says you did something"},{"startTime":3135.22,"endTime":3137.2,"body":"and you are part of"},{"startTime":3135.22,"endTime":3137.2,"body":"this trusted community."},{"startTime":3137.2,"endTime":3139.73,"body":"So of course they get a job"},{"startTime":3137.2,"endTime":3139.73,"body":"and then the thing starts"},{"startTime":3139.73,"endTime":3143.71,"body":"to take off and then they"},{"startTime":3139.73,"endTime":3143.71,"body":"create new businesses and so on."},{"startTime":3143.71,"endTime":3145.2,"body":"And so then the last bit,"},{"startTime":3145.2,"endTime":3149.09,"body":"which is MESH is now"},{"startTime":3145.2,"endTime":3149.09,"body":"taking those young people,"},{"startTime":3149.09,"endTime":3152.16,"body":"those 7.3 million comic book readers"},{"startTime":3152.16,"endTime":3154.95,"body":"who've now grown up with the Shujaaz"},{"startTime":3154.95,"endTime":3158.58,"body":"which has changed the norms,"},{"startTime":3154.95,"endTime":3158.58,"body":"changed the social ideas,"},{"startTime":3158.58,"endTime":3161.77,"body":"and now they want to have"},{"startTime":3158.58,"endTime":3161.77,"body":"some business basics."},{"startTime":3161.77,"endTime":3165.08,"body":"So the MESH is about essentially"},{"startTime":3161.77,"endTime":3165.08,"body":"giving those business"},{"startTime":3165.08,"endTime":3170.08,"body":"basics to all these"},{"startTime":3165.08,"endTime":3170.08,"body":"young people using Mpesa"},{"startTime":3170.51,"endTime":3174.67,"body":"using platforms, using Safaricom to help."},{"startTime":3174.67,"endTime":3178.58,"body":"So it's a very, very fast growing process,"},{"startTime":3178.58,"endTime":3181.03,"body":"but it is something that"},{"startTime":3178.58,"endTime":3181.03,"body":"is quite extraordinary"},{"startTime":3181.03,"endTime":3183.83,"body":"in the way in which it's"},{"startTime":3181.03,"endTime":3183.83,"body":"sort of reaching out"},{"startTime":3183.83,"endTime":3186.95,"body":"about upskilling thousands"},{"startTime":3183.83,"endTime":3186.95,"body":"of young hustlers"},{"startTime":3186.95,"endTime":3188.21,"body":"as we'll call them people"},{"startTime":3188.21,"endTime":3192.49,"body":"who just make a place"},{"startTime":3188.21,"endTime":3192.49,"body":"themselves in the economy."},{"startTime":3192.49,"endTime":3197.49,"body":"So I think you get the idea"},{"startTime":3192.49,"endTime":3197.49,"body":"that we don't need incubators"},{"startTime":3198.07,"endTime":3200.08,"body":"as such, we need accelerators."},{"startTime":3200.08,"endTime":3202.44,"body":"We need to be able to help"},{"startTime":3200.08,"endTime":3202.44,"body":"people move from the idea"},{"startTime":3202.44,"endTime":3205.83,"body":"of long open-ended duration,"},{"startTime":3205.83,"endTime":3209.323,"body":"lots of typically fee based people get in,"},{"startTime":3209.323,"endTime":3212.16,"body":"they have to pay a lot of money and so on"},{"startTime":3212.16,"endTime":3215.76,"body":"into accelerators where you've"},{"startTime":3212.16,"endTime":3215.76,"body":"got it's a fixed duration."},{"startTime":3215.76,"endTime":3219.55,"body":"It's a two-day, it's a one-day,"},{"startTime":3215.76,"endTime":3219.55,"body":"it's a 30-minute video,"},{"startTime":3219.55,"endTime":3222.41,"body":"but it's got precisely"},{"startTime":3219.55,"endTime":3222.41,"body":"an answer and a solution"},{"startTime":3222.41,"endTime":3224.93,"body":"that a young person is looking for."},{"startTime":3224.93,"endTime":3226.74,"body":"It's cohort based because you kind"},{"startTime":3226.74,"endTime":3228.87,"body":"of see your colleagues going around."},{"startTime":3228.87,"endTime":3231.33,"body":"And the great thing about it is that"},{"startTime":3231.33,"endTime":3234.01,"body":"a lot of young people, they"},{"startTime":3231.33,"endTime":3234.01,"body":"only have their friends,"},{"startTime":3234.01,"endTime":3236.05,"body":"they just have their friends around them."},{"startTime":3236.05,"endTime":3238.0,"body":"But with something like Shujaaz,"},{"startTime":3238.0,"endTime":3242.03,"body":"they suddenly have people"},{"startTime":3238.0,"endTime":3242.03,"body":"who are in a massive network"},{"startTime":3242.03,"endTime":3244.61,"body":"for no fee, okay?"},{"startTime":3244.61,"endTime":3246.31,"body":"So how does it all work?"},{"startTime":3246.31,"endTime":3248.47,"body":"Well, of course, once they"},{"startTime":3246.31,"endTime":3248.47,"body":"start to make their businesses,"},{"startTime":3248.47,"endTime":3249.96,"body":"they can bring a little bit back."},{"startTime":3249.96,"endTime":3251.36,"body":"They bring a little bit back."},{"startTime":3251.36,"endTime":3253.394,"body":"And so out of all of that,"},{"startTime":3253.394,"endTime":3256.4,"body":"you need to have very"},{"startTime":3253.394,"endTime":3256.4,"body":"different kind of regulation"},{"startTime":3256.4,"endTime":3258.12,"body":"to help those young people contribute"},{"startTime":3258.12,"endTime":3262.04,"body":"not only to society, but"},{"startTime":3258.12,"endTime":3262.04,"body":"to their own wellbeing,"},{"startTime":3262.04,"endTime":3265.92,"body":"then you need to have what we"},{"startTime":3262.04,"endTime":3265.92,"body":"call anticipatory regulation."},{"startTime":3265.92,"endTime":3269.13,"body":"And that's really the challenge"},{"startTime":3265.92,"endTime":3269.13,"body":"is that the policy world,"},{"startTime":3269.13,"endTime":3272.1,"body":"the innovation policy"},{"startTime":3269.13,"endTime":3272.1,"body":"world is not quite ready"},{"startTime":3272.1,"endTime":3274.07,"body":"for the innovators and the entrepreneurs"},{"startTime":3274.07,"endTime":3275.423,"body":"of the wellbeing economy."},{"startTime":3276.91,"endTime":3281.58,"body":"So we have challenged governments all over"},{"startTime":3281.58,"endTime":3283.43,"body":"to do experiments about the futures,"},{"startTime":3283.43,"endTime":3286.58,"body":"the 100 Day Challenge,"},{"startTime":3283.43,"endTime":3286.58,"body":"where policy makers,"},{"startTime":3286.58,"endTime":3289.6,"body":"civil servants and others"},{"startTime":3286.58,"endTime":3289.6,"body":"are brought together"},{"startTime":3289.6,"endTime":3294.12,"body":"to really understand and to"},{"startTime":3289.6,"endTime":3294.12,"body":"respect what communities say"},{"startTime":3294.12,"endTime":3296.68,"body":"to do innovation mapping"},{"startTime":3294.12,"endTime":3296.68,"body":"and the difference between"},{"startTime":3296.68,"endTime":3298.84,"body":"what a community says and"},{"startTime":3296.68,"endTime":3298.84,"body":"what a civil servant says"},{"startTime":3298.84,"endTime":3301.74,"body":"is quite a lot that's for sure."},{"startTime":3301.74,"endTime":3304.69,"body":"To co-create ideas, innovation."},{"startTime":3304.69,"endTime":3307.29,"body":"And then in a very short"},{"startTime":3304.69,"endTime":3307.29,"body":"period of time, 50 days,"},{"startTime":3307.29,"endTime":3309.6,"body":"you take a look at the end of a 100 days,"},{"startTime":3309.6,"endTime":3312.53,"body":"you walk out with something"},{"startTime":3309.6,"endTime":3312.53,"body":"which you've built together."},{"startTime":3312.53,"endTime":3314.37,"body":"And these a 100 Day"},{"startTime":3312.53,"endTime":3314.37,"body":"Challenges are beginning"},{"startTime":3314.37,"endTime":3317.82,"body":"to start to have an impact"},{"startTime":3314.37,"endTime":3317.82,"body":"because they're impacting"},{"startTime":3317.82,"endTime":3319.72,"body":"on the professional boundaries."},{"startTime":3319.72,"endTime":3321.68,"body":"And I think this is one"},{"startTime":3319.72,"endTime":3321.68,"body":"of the crucial things."},{"startTime":3321.68,"endTime":3323.5,"body":"I do a lot of training of civil servants."},{"startTime":3323.5,"endTime":3327.69,"body":"And I think it's challenging"},{"startTime":3323.5,"endTime":3327.69,"body":"people who walk in and saying,"},{"startTime":3327.69,"endTime":3331.607,"body":"I am in the department of"},{"startTime":3327.69,"endTime":3331.607,"body":"energy and that's what I do."},{"startTime":3331.607,"endTime":3334.01,"body":"And you say, yeah, but"},{"startTime":3331.607,"endTime":3334.01,"body":"you need to also talk"},{"startTime":3334.01,"endTime":3335.33,"body":"to the water people and you need"},{"startTime":3335.33,"endTime":3337.14,"body":"to talk to this and that and that."},{"startTime":3337.14,"endTime":3339.13,"body":"So this is the crucial thing"},{"startTime":3339.13,"endTime":3341.41,"body":"about being collaborative and inclusive."},{"startTime":3341.41,"endTime":3343.65,"body":"So the a 100 Day Challenges are beginning"},{"startTime":3343.65,"endTime":3347.2,"body":"to happen all over the world,"},{"startTime":3343.65,"endTime":3347.2,"body":"part of the wellbeing process,"},{"startTime":3347.2,"endTime":3349.94,"body":"but even now much broader than that."},{"startTime":3349.94,"endTime":3353.1,"body":"And so from that, we are seeing stories,"},{"startTime":3353.1,"endTime":3355.49,"body":"stories of innovation and entrepreneurs"},{"startTime":3355.49,"endTime":3356.79,"body":"from the wellbeing economy"},{"startTime":3356.79,"endTime":3360.13,"body":"starting to well up and stick together"},{"startTime":3360.13,"endTime":3363.45,"body":"and start to take us on a"},{"startTime":3360.13,"endTime":3363.45,"body":"very, very different journey."},{"startTime":3363.45,"endTime":3367.86,"body":"So what is the characteristic"},{"startTime":3363.45,"endTime":3367.86,"body":"of a wellbeing innovator,"},{"startTime":3367.86,"endTime":3369.84,"body":"of wellbeing entrepreneur?"},{"startTime":3369.84,"endTime":3370.87,"body":"Well, first and foremost,"},{"startTime":3370.87,"endTime":3374.49,"body":"it's not about making a huge"},{"startTime":3370.87,"endTime":3374.49,"body":"amount of money for yourself."},{"startTime":3374.49,"endTime":3376.61,"body":"It's actually about"},{"startTime":3374.49,"endTime":3376.61,"body":"trying to solve problems"},{"startTime":3376.61,"endTime":3378.09,"body":"for people on planet."},{"startTime":3378.09,"endTime":3381.62,"body":"But it has to connect"},{"startTime":3378.09,"endTime":3381.62,"body":"to people's livelihoods."},{"startTime":3381.62,"endTime":3384.42,"body":"And so, yes, of course"},{"startTime":3381.62,"endTime":3384.42,"body":"there are investors,"},{"startTime":3384.42,"endTime":3387.94,"body":"social venture capital"},{"startTime":3384.42,"endTime":3387.94,"body":"that wants to come on board"},{"startTime":3387.94,"endTime":3389.31,"body":"for that journey."},{"startTime":3389.31,"endTime":3391.89,"body":"But what I've learned in"},{"startTime":3389.31,"endTime":3391.89,"body":"the last couple of years"},{"startTime":3391.89,"endTime":3396.4,"body":"working in this space is"},{"startTime":3391.89,"endTime":3396.4,"body":"that the kinds of innovations"},{"startTime":3396.4,"endTime":3398.47,"body":"and the types of entrepreneurs"},{"startTime":3396.4,"endTime":3398.47,"body":"that come out of that,"},{"startTime":3398.47,"endTime":3400.56,"body":"'cause you need both, you need the ideas"},{"startTime":3400.56,"endTime":3402.02,"body":"and then you need to make something of it."},{"startTime":3402.02,"endTime":3404.53,"body":"You need to build the business out of it."},{"startTime":3404.53,"endTime":3406.48,"body":"They are very, very different."},{"startTime":3406.48,"endTime":3408.26,"body":"And already we can see"},{"startTime":3408.26,"endTime":3410.88,"body":"that nearly all of them are sustainable,"},{"startTime":3410.88,"endTime":3413.13,"body":"that they're going to"},{"startTime":3410.88,"endTime":3413.13,"body":"be here for a long time."},{"startTime":3413.13,"endTime":3414.78,"body":"They're not just going to disappear"},{"startTime":3414.78,"endTime":3416.29,"body":"as we've seen in the past."},{"startTime":3416.29,"endTime":3418.9,"body":"So they're more flexible,"},{"startTime":3416.29,"endTime":3418.9,"body":"they're more resilient."},{"startTime":3418.9,"endTime":3421.96,"body":"They're not as brittle and"},{"startTime":3418.9,"endTime":3421.96,"body":"they certainly are contributing"},{"startTime":3421.96,"endTime":3424.87,"body":"to helping the planet it and"},{"startTime":3421.96,"endTime":3424.87,"body":"the health of the planet."},{"startTime":3424.87,"endTime":3427.78,"body":"So thank you very much"},{"startTime":3424.87,"endTime":3427.78,"body":"and I'll finish there."},{"startTime":3427.78,"endTime":3428.613,"body":"Thank you."},{"startTime":3429.506,"endTime":3432.673,"body":"(audience applauding)"},{"startTime":3434.17,"endTime":3435.381,"body":"- Thank you very much."},{"startTime":3435.381,"endTime":3436.214,"body":"- Thank you so much."},{"startTime":3436.214,"endTime":3438.36,"body":"- So Professor McGlade for"},{"startTime":3436.214,"endTime":3438.36,"body":"another fascinating stimulate"},{"startTime":3438.36,"endTime":3439.47,"body":"and challenging lecture."},{"startTime":3439.47,"endTime":3441.78,"body":"A lot of interest and questions online"},{"startTime":3441.78,"endTime":3444.57,"body":"and there may well be"},{"startTime":3441.78,"endTime":3444.57,"body":"questions in the room as well."},{"startTime":3444.57,"endTime":3446.993,"body":"I'll take just the first one online here."},{"startTime":3448.04,"endTime":3449.23,"body":"There's somebody who would like to know,"},{"startTime":3449.23,"endTime":3453.26,"body":"how do you measure the impact"},{"startTime":3449.23,"endTime":3453.26,"body":"of wellbeing entrepreneurs"},{"startTime":3453.26,"endTime":3455.35,"body":"using metrics that could be used"},{"startTime":3455.35,"endTime":3457.8,"body":"across different market sectors?"},{"startTime":3457.8,"endTime":3458.8,"body":"- Very good."},{"startTime":3458.8,"endTime":3463.07,"body":"So directly I would always say it has"},{"startTime":3463.07,"endTime":3466.09,"body":"to be livelihoods for those"},{"startTime":3463.07,"endTime":3466.09,"body":"who are in the local community."},{"startTime":3466.09,"endTime":3468.2,"body":"Those who are actually impacted"},{"startTime":3468.2,"endTime":3472.77,"body":"by the particular, let's say innovation."},{"startTime":3472.77,"endTime":3474.92,"body":"But in terms of other sectors,"},{"startTime":3474.92,"endTime":3476.65,"body":"there is a measure that we would call,"},{"startTime":3476.65,"endTime":3478.85,"body":"which is sort of like"},{"startTime":3476.65,"endTime":3478.85,"body":"an influencing measure."},{"startTime":3478.85,"endTime":3480.37,"body":"So can you see the tentacle?"},{"startTime":3480.37,"endTime":3483.23,"body":"Can you see the fingerprint"},{"startTime":3480.37,"endTime":3483.23,"body":"of this innovation"},{"startTime":3483.23,"endTime":3484.53,"body":"in another sector?"},{"startTime":3484.53,"endTime":3487.453,"body":"And I think that's one of the things"},{"startTime":3487.453,"endTime":3490.42,"body":"that I would talk about more of our time"},{"startTime":3490.42,"endTime":3492.32,"body":"is that innovations should be put more"},{"startTime":3494.101,"endTime":3495.12,"body":"into functional classes"},{"startTime":3494.101,"endTime":3495.12,"body":"if I can call it that"},{"startTime":3495.12,"endTime":3497.11,"body":"as opposed to a product."},{"startTime":3497.11,"endTime":3499.92,"body":"So a functional class means"},{"startTime":3497.11,"endTime":3499.92,"body":"it could be doing many things"},{"startTime":3499.92,"endTime":3502.97,"body":"in many industries, and"},{"startTime":3499.92,"endTime":3502.97,"body":"that's what we want."},{"startTime":3502.97,"endTime":3506.866,"body":"We want solutions that go and"},{"startTime":3502.97,"endTime":3506.866,"body":"spread throughout the economy."},{"startTime":3506.866,"endTime":3509.0,"body":"- Thank you for the great"},{"startTime":3506.866,"endTime":3509.0,"body":"presentation, professor."},{"startTime":3509.0,"endTime":3510.93,"body":"Yeah, you mentioned some of the stuff"},{"startTime":3510.93,"endTime":3513.21,"body":"that's happening in"},{"startTime":3510.93,"endTime":3513.21,"body":"like Scotland and Wales,"},{"startTime":3513.21,"endTime":3516.763,"body":"like the Wales having the"},{"startTime":3513.21,"endTime":3516.763,"body":"future generation commissioner."},{"startTime":3517.79,"endTime":3520.92,"body":"What's like the thing that you'd most like"},{"startTime":3520.92,"endTime":3522.63,"body":"to see the Westminster Government"},{"startTime":3522.63,"endTime":3524.933,"body":"do to advance the wellbeing economy?"},{"startTime":3527.71,"endTime":3532.71,"body":"- What I would target in fact"},{"startTime":3527.71,"endTime":3532.71,"body":"is almost certainly education,"},{"startTime":3534.7,"endTime":3538.9,"body":"a different kind of education,"},{"startTime":3534.7,"endTime":3538.9,"body":"one which is for everybody."},{"startTime":3538.9,"endTime":3540.78,"body":"In other words, I'm not saying"},{"startTime":3538.9,"endTime":3540.78,"body":"one goes back to school,"},{"startTime":3540.78,"endTime":3541.85,"body":"quite the opposite,"},{"startTime":3541.85,"endTime":3544.96,"body":"but in education where"},{"startTime":3541.85,"endTime":3544.96,"body":"there's respect on both sides."},{"startTime":3544.96,"endTime":3547.96,"body":"So create the space just like I mentioned"},{"startTime":3547.96,"endTime":3550.04,"body":"in Essex is happening."},{"startTime":3550.04,"endTime":3552.17,"body":"It's a revolution for"},{"startTime":3550.04,"endTime":3552.17,"body":"people when they realize"},{"startTime":3552.17,"endTime":3554.54,"body":"they're actually being"},{"startTime":3552.17,"endTime":3554.54,"body":"asked for their ideas"},{"startTime":3554.54,"endTime":3556.61,"body":"as opposed to just to turn up to vote."},{"startTime":3556.61,"endTime":3559.45,"body":"And I think it's the style of governance"},{"startTime":3559.45,"endTime":3561.27,"body":"that's incredibly important."},{"startTime":3561.27,"endTime":3563.15,"body":"So it's less about the content"},{"startTime":3563.15,"endTime":3565.03,"body":"and more about the style"},{"startTime":3563.15,"endTime":3565.03,"body":"of how we do things."},{"startTime":3565.03,"endTime":3567.16,"body":"That's what I would love to see."},{"startTime":3567.16,"endTime":3572.16,"body":"- [Woman] That was very"},{"startTime":3567.16,"endTime":3572.16,"body":"encouraging and so many good ideas."},{"startTime":3572.6,"endTime":3575.4,"body":"But I was thinking there"},{"startTime":3572.6,"endTime":3575.4,"body":"are many good ideas"},{"startTime":3575.4,"endTime":3577.75,"body":"that have fallen by the wayside."},{"startTime":3577.75,"endTime":3582.75,"body":"And when a new idea comes"},{"startTime":3577.75,"endTime":3582.75,"body":"along for say using wind power"},{"startTime":3583.16,"endTime":3588.16,"body":"to create energy, those horrible"},{"startTime":3583.16,"endTime":3588.16,"body":"three bladed bird choppers"},{"startTime":3588.25,"endTime":3590.27,"body":"could easily go out of the way,"},{"startTime":3590.27,"endTime":3594.1,"body":"but there's probably a big"},{"startTime":3590.27,"endTime":3594.1,"body":"interest in saving them"},{"startTime":3594.1,"endTime":3597.847,"body":"because they have a business"},{"startTime":3594.1,"endTime":3597.847,"body":"that's set up around it,"},{"startTime":3597.847,"endTime":3600.62,"body":"but there is a new idea"},{"startTime":3600.62,"endTime":3605.62,"body":"and it's like one pillar with three sides"},{"startTime":3606.16,"endTime":3611.16,"body":"that will take the wind"},{"startTime":3606.16,"endTime":3611.16,"body":"from every quarter."},{"startTime":3611.25,"endTime":3616.25,"body":"And this is being developed"},{"startTime":3611.25,"endTime":3616.25,"body":"and already expressed,"},{"startTime":3616.26,"endTime":3617.43,"body":"but I can't remember it."},{"startTime":3617.43,"endTime":3620.23,"body":"So how do you get a good idea,"},{"startTime":3620.23,"endTime":3624.6,"body":"a better idea to overtake a less--"},{"startTime":3624.6,"endTime":3626.41,"body":"- Well, there are a lot of stranded assets"},{"startTime":3626.41,"endTime":3628.77,"body":"in the world is all I"},{"startTime":3626.41,"endTime":3628.77,"body":"can tell you there are,"},{"startTime":3628.77,"endTime":3631.06,"body":"but you have to..."},{"startTime":3631.06,"endTime":3634.8,"body":"I think what we have to"},{"startTime":3631.06,"endTime":3634.8,"body":"become much more adept at is"},{"startTime":3634.8,"endTime":3638.3,"body":"figuring out what are the real"},{"startTime":3634.8,"endTime":3638.3,"body":"gains and the real loss is."},{"startTime":3638.3,"endTime":3640.75,"body":"And there's a lot of myth"},{"startTime":3638.3,"endTime":3640.75,"body":"busting that has to go on."},{"startTime":3640.75,"endTime":3642.2,"body":"I'll be very honest with you."},{"startTime":3642.2,"endTime":3644.25,"body":"I haven't seen too many birds chopped up."},{"startTime":3645.5,"endTime":3647.66,"body":"However, that's another matter altogether."},{"startTime":3647.66,"endTime":3649.9,"body":"But what I'm saying is"},{"startTime":3647.66,"endTime":3649.9,"body":"every single technology"},{"startTime":3649.9,"endTime":3654.03,"body":"that comes along will have,"},{"startTime":3649.9,"endTime":3654.03,"body":"of course its naysayers"},{"startTime":3654.03,"endTime":3655.25,"body":"without a doubt."},{"startTime":3655.25,"endTime":3658.96,"body":"However, having more community,"},{"startTime":3655.25,"endTime":3658.96,"body":"having more understanding"},{"startTime":3658.96,"endTime":3661.06,"body":"at the beginning on this journey"},{"startTime":3661.06,"endTime":3664.36,"body":"and asking how does it contribute"},{"startTime":3661.06,"endTime":3664.36,"body":"to let's say the health"},{"startTime":3664.36,"endTime":3666.56,"body":"of people and the health of the planet,"},{"startTime":3666.56,"endTime":3668.64,"body":"because it's almost like we have a lot"},{"startTime":3668.64,"endTime":3672.47,"body":"of technology foisted on us"},{"startTime":3668.64,"endTime":3672.47,"body":"without that conversation."},{"startTime":3672.47,"endTime":3676.29,"body":"So let's just roll up the"},{"startTime":3672.47,"endTime":3676.29,"body":"mat and put it over there"},{"startTime":3676.29,"endTime":3678.44,"body":"and think about, well, what are the things"},{"startTime":3678.44,"endTime":3679.69,"body":"that we need to fix?"},{"startTime":3679.69,"endTime":3682.56,"body":"And it is absolutely clear we"},{"startTime":3679.69,"endTime":3682.56,"body":"need to address climate change"},{"startTime":3682.56,"endTime":3685.56,"body":"in every single possible way we can."},{"startTime":3685.56,"endTime":3688.259,"body":"So I think there's trade offs."},{"startTime":3688.259,"endTime":3691.19,"body":"I'm not in any way"},{"startTime":3688.259,"endTime":3691.19,"body":"condoning things that need"},{"startTime":3691.19,"endTime":3694.5,"body":"to be taken out of production"},{"startTime":3691.19,"endTime":3694.5,"body":"or taken out offline."},{"startTime":3694.5,"endTime":3697.33,"body":"But there will be times"},{"startTime":3694.5,"endTime":3697.33,"body":"when society has to catch up"},{"startTime":3697.33,"endTime":3699.01,"body":"with the evidence and the knowledge,"},{"startTime":3699.01,"endTime":3701.01,"body":"but it needs to be shared earlier on."},{"startTime":3701.01,"endTime":3703.9,"body":"So it's not really a good answer for you,"},{"startTime":3703.9,"endTime":3705.77,"body":"but I think we won't ever..."},{"startTime":3705.77,"endTime":3707.58,"body":"We know when things are really bad for us"},{"startTime":3707.58,"endTime":3710.64,"body":"and we should just take"},{"startTime":3707.58,"endTime":3710.64,"body":"them out of society,"},{"startTime":3710.64,"endTime":3713.27,"body":"like certain drugs and"},{"startTime":3710.64,"endTime":3713.27,"body":"various other things."},{"startTime":3713.27,"endTime":3715.87,"body":"But there are often contextual reasons"},{"startTime":3715.87,"endTime":3718.82,"body":"why you need to do certain"},{"startTime":3715.87,"endTime":3718.82,"body":"things in certain places."},{"startTime":3718.82,"endTime":3721.73,"body":"So I'll leave it at that, all right?"},{"startTime":3721.73,"endTime":3723.86,"body":"I scouted out the answer there, didn't I?"},{"startTime":3723.86,"endTime":3726.03,"body":"- Well afraid, that's all we"},{"startTime":3723.86,"endTime":3726.03,"body":"have time for this evening,"},{"startTime":3726.03,"endTime":3728.33,"body":"but thank you very much for"},{"startTime":3726.03,"endTime":3728.33,"body":"that tremendous lecture."},{"startTime":3728.33,"endTime":3729.316,"body":"Thank you."},{"startTime":3729.316,"endTime":3731.396,"body":"(audience applauding)"}]}