What’s your vision for the future of island business?
The island needs and will continue to be nimble in response to a fast-changing economic backdrop. Two high growth opportunities are longevity and a meatless future.
What does your business look like in 2030? Have you a similar or vastly different business model?
We are focussing on a dramatic increase in longevity in the human population and a concomitant explosion in opportunity. This will affect such areas as longevity science, catering to older people, adventure tourism, financial services reorganisation as traditional pensions and savings schemes are swept away- and all of these are balls that the island can pick up and run with. In addition, the development of “clean meat” alternatives to raised animals is a no brainer for the IOM. It ticks every zeitgeist box; environmentally friendly, no antibiotics use, less water and land consumption, vegan friendly and no cruelty. This will be a huge industry and it is one I suggest the IOM urgently looks at.
What has driven change and why?
In the case of the above two trends the unveiling of the human genome and the rapid advance in bioscience means that longevity can now be bioengineered; this will be the biggest industry on the planet. In the case of clean meat, which will supplant much animal husbandry within twenty years, the imperative of climate change and the increasing revulsion with animal cruelty are the key drivers.
Who are now the key players in the market? Why have they been successful?
In longevity science, Juvenescence, a company based in the IOM and started by ourselves is a world leader and was recently valued at US 500m having raised over US 165 m in equity on the past year or so. In the case of new agriculture, another IOM company, Agronomics, has recently floated very successfully, and is also a start up from our own stable.
Start reading about the future.
We will all be doing very different stuff
Totally optimistic ; if there’s a glass half full, I will drink it!