My question is ..... what could we be aiming to create with the building blocks we have? - Thoughts from recent discussions?

There is much debate as we know around what will become the norm when all pandemic restrictions are lifted. Whether to be socially distant, virtual, physical or hybrid when it comes to working patterns, events, business development and lifestyle seems a decision we will all need to make on balance. Much of the discussion has been triggered in one way or another around topics relating to ESG (Environment Social and Governance) aspects of how we are and will be doing business in the future. We recently held a BioWednesday panel (pictured above) discussion on ESG and Life Science Investment which touched upon some of the factors and trends as an example.

With the above in mind, I have recently been musing around what we are collectively seeking to create going forwards. My thinking has been framed from school years chemistry lessons about carbon and the building ‘C’ blocks we placed in tetrahedrons, hexagons and more whilst we learned about allotropes and structural diversities with different characteristics – even if created with the same building blocks, in our case people not carbon atoms.

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Colleagues:

I was asked on a Partners& Life Science Lounge panel discussion earlier this week if I felt we are ‘kinder’ as a result of recent events. I personally feel there is inherent kindness in people, but maybe the experience of the pandemic has made many of us a bit more appreciative of non-work aspects of colleagues’ lives. Has this made us more understanding and accommodating of how and why they work the way they do at times? Perhaps yes, but perhaps it is also that it has brought more humanness into how we interact at work, doing deals and so on. The reduction in travel, less face-to-face working and more time at home has also made many people more reflective towards core values it feels. Perhaps taking more time to consider the points of view others have championed around diversity; social mobility; and inclusion has been one outcome. Reviewing those core values at a personal level but also at an organisation and even sector-wide level feels like it reveals not a one size fits all solution, By sharing of ideas each of us can play our part though sometimes small changes when possible, but collectively a more significant change. One of our panelists at that BioWednesday said her mantra was ‘Do what you can, where you are with what you have.’. Seems reasonable. Getting it right will likely attract and motivate the best talent and ultimately team (whether internal or external) performance.

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Carbon:

The need to reduce our carbon footprint to save the planet has been championed for some years of course. Progress has been made for sure. Investors and regulators are starting to require more reporting in some cases but equally individuals as business leaders or indeed employees are starting to take far more action too. So, it seems a combined top-down and bottom-up approach is in play. Many companies have announced their intention to aim for ‘net zero’. Whilst operating virtually we have heard in our webinars how some have planted trees based on securing 1-2-1 meetings at virtual partnering events to which they have not taken a plane, train or automobile. Some have reviewed how they can support local economies in their purchasing. Encouragingly, we hear of large corporates helping the SMEs in their supply chain improve by working with them rather than excluding them on the basis of low performance. Good practice - meeting the business need in the most environmentally feasible manner – is something we can all learn more about from our networks so would welcome any approaches readers feel they would like to share.

Contacts:

I could be accused of being biased given what I do for a living but after a year of really enjoying some online conferences, partnering meetings and meet-ups of varying size, I remain of the opinion that face-to-face networking is an essential element of business. It’s not that everything has been bad having to be virtual. I haven’t missed elements like airport queues, daily commuting traffic, sub-optimal AV in lecture theatres for example. It has been great connecting with numerous international contacts more regularly than when I was travelling too, but all in all I still feel that innovation, collaboration and personal growth is a contact sport. We have now learned how to live with these aspects being technology-enabled and complemented, so perhaps now we have also been able to reflect on what elements are valuable when face-to-face, which ones can be well served meeting online and hence which meeting opportunities to prioritise when they arise. I feel no doubt that geographical clusters remain pivotal to driving innovation, but equally we have now been able to see how the global village can work when we connect effectively. As with most things it seems, success and sustainability are secured through a healthy balance.

Champions

It would seem odd not to consider the role of champions. Role models come in all shapes and sizes to inspire their followers. Champions, whether corporate or individual who encourage their networks to be the best they can be I think always have a valuable role in any sector. Those that offer to mentor or advise others seeking help; companies supporting collaborators to adapt and improve their environmental performance, diversity champions within teams who engage colleagues constructively; and those champions that perpetually inspire and attract the next generation to bring their talents and passion to researching and addressing unmet medical needs all have my respect. It is often challenging to motivate behavioural change among friends and peers let alone others. I welcome being involved with those that go the extra yard to open the eyes of others to things they care about or to raise awareness of opportunity for all. It is delightful to see some in my network already signed up as ‘Industry Buddies’ to help students access our upcoming ON Helix conference, looking to give future leaders a leg up. ?

Clarity:

One of the elements around ESG referenced in the BoWednesday referenced above was about transparency around governance and clarity around communication with stakeholders. Many times, I have heard investors stress how they prefer accurate and clear updates from their portfolio companies, whether bad news or good. Sharing news of setbacks and concerns can be a way to generate guidance and support. It should not be feared whether for a company or for an individual since such support can come from a least expected source when problems are communicated well and authentically. We all have limitations, being authentic doesn’t have to be one of them.

Speaking of limitations, those who patiently read this missive will now be acutely aware of my limitations when it comes to clarity of communication. That said, I am always grateful for the feedback or insights that get triggered in response since it helps fill my knowledge gaps, thinking and hopefully enables me to be better over time. I’ll end with the question I had in mind when staring to right this ramble….

With all these C’s available as building blocks, what do you aim to create going forward?

A keynote speaker at a past Genesis conference about a decade ago when asked ‘What was top of his Christmas list?’ replied “we have all the building blocks in the ecosystem for great innovations, great products and great deals. Much like carbon allotropes we can either put these building blocks together to make pencils or we can make diamonds – I would like us to aim for diamonds!’

I would subscribe to his train of thought. Taking the C-building blocks from the paragraphs above, I’d like to think we will collectively create the tools (pencils) we need to create the real value our sector can bring to the patients (diamonds) but not without smart use of innovations and variations on the way (graphene, buckytubes …).

Tony Jones

22 June 2021

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