Lynn Johannson, Advisor, Sustainability and ESG
January 4th, 2024
Lynn Johannson, President of E2 Management Corporation and Catalyst for THE Collaboration
In a care[...]
UK and World Economic Forum to lead regulation revolution to foster industries of the future
WiredGov UK | Jan 24, 2019
New partnership between the UK and World Economic Forum (WEF) to ensure innovators have the environment needed to create and support the industries, products and services of the future.
- Partnership will push forward a modern ‘agile’ regulatory approach that fosters innovation and keeps tape to a minimum whilst protecting consumers
- Work is part of the government’s ambition through the modern Industrial Strategy for a ‘regulation revolution’ that meets the challenges and opportunities of technological advances
A partnership building on the UK’s heritage and excellence in regulation will ensure the UK is at the forefront of the next regulation revolution - creating an environment which fosters and supports entrepreneurship and the innovative industries of the future from flying taxis to digital lawyers – was announced recently (22 January 2019) by the Business Secretary Greg Clark.
See: A Regulation Revolution In Financial Services
Speaking at the World Economic Forum Annual Meeting in Davos, the Business Secretary confirmed the UK would establish a new partnership with the World Economic Forum Centre for the Fourth Industrial Revolution, based in San Francisco, to develop future regulation which benefits business and consumers.
New technology is rapidly changing and creating entirely new industries, products and ways of serving customers with digital platforms improving the quality, speed, and price of a range of services from shopping and parking to streaming entertainment and travel. But alongside these economic opportunities come a range of ethical, legal and consumer protection issues which will require an active and agile response from regulators.
Business Secretary Greg Clark yesterday said:
The speed of technological innovation across the globe is faster than ever. New technology is not only revolutionising existing products and services, it is creating whole new industries and business models. The UK is recognised across the world for its regulatory environment which achieves both the protection of consumers whilst maintaining an openness to innovation - a framework which has been exported across the world.
Our regulators have a fundamental role in ensuring the success of future industries and innovations through active and agile governance whilst ensuring the protection of consumers.
The government sees active and agile regulators as key to creating the business environment in which the industries of the future can grow, as part of our modern Industrial Strategy. This new international collaboration will ensure the UK leads the way in guaranteeing the UK and global regulatory system keeps pace with the speed of change.
The United Kingdom is the first country to partner with the Centre for the Fourth Industrial Revolution on this project, building on its existing collaboration with the Centre on artificial intelligence.
The partnership work will focus on areas of innovation which align with the UK’s Industrial Strategy Grand Challenges, such as:
- AI and Machine learning
- Autonomous and Urban Mobility
- Drones and Tomorrow’s Airspace
- Precision medicine
The move reflects the government’s commitment to ensuring that UK regulators are agile and ready for and to foster the industries of the future. In October 2018 the OECD reported the UK as a world leader, recognising the supportive and exceptional performance of the UK’s regulatory system in its annual Regulatory Policy Outlook.
See: FCA Launches Consultation Paper on Crypto Asset Guidance
The UK has been pioneering an agile approach to regulation, such as the Financial Conduct Authority (FCA) introducing a ‘regulatory sandbox’ in 2016, allowing innovative businesses to work with the regulator to test products with consumers without having to meet all the usual requirements for compliance. This allows innovators to benefit from better market testing and consumers to benefit from new products which have better safeguards built-in from the beginning.
The Business Secretary has been leading efforts in the government, through a Ministerial Working Group on regulation, to transform the UK’s regulatory system towards this agile approach. This involves continuously identifying new opportunities and driving regulatory reform; making regulations technology neutral and framing our laws around the goals we want to achieve; and creating more space for experimentation with a greater emphasis on testing and trialling new innovations.
Kay Firth-Butterfield, Head Artificial Intelligence & Machine Learning at the World Economic Forum yesterday said:
I am delighted that BEIS will be joining the work of the Forum around agile governance of 4IR technologies. I look forward to working with them on the AI Team’s ‘Reimagining the regulator‘ project, where their work on regulatory models will be very valuable.
Continue to the full article --> here
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Funding | April 10, 2025 Regulation Crowdfunding Markets Show Tariffs Straining Innovation Economy Regulation Crowdfunding (RegCF) has proven to be a resilient market for early stage entrepreneurs and investors alike. When uncertainty strikes, it's often traditional venture capital that pulls back, while the community-driven model continues to offer early stage start-ups access to capital allowing them to innovate. However, just in from Sherwood (Woodie) Neiss, NCFA Advisor and Principal at Crowdfund Capital Advisors, data shows that tariffs are starting to strain RegCF markets - from March 10 to April 9, 2025: RegCF investment volumes declined by 24% (yoy) to just $57.48 million New campaign launches dropped over 40% Number of investor checks also declined by 15% Average capital raise size dropped to $720,000 (from $1.2 million) Sherwood Neiss, Principal at Crowdfund Capital Advisors: “We’re seeing the first real signs of pullback in what has otherwise been a resilient funding ecosystem. The numbers tell a story not of panic, but of pause. Investors and issuers alike are waiting for clarity—on costs, on policy, and on risk.” Tariffs Introduce New Risks for Early-Stage Companies In a volatile environment where U.S. tariffs are levied one day, and then paused the next, founders must now face ...
Economy | April 10, 2025 Trump Temporarily Halts Tariffs for Most Countries But Keeps Pressure on Canada, Mexico, and China On April 10, 2025, President Trump announced a 90-day pause on most of the newly implemented global trade tariffs after market backlash and political pressure. The break was extended to countries in Europe, Asia, and parts of South America, but Canada, Mexico, and China are still under tariff pressure. Strategic Pause, Not for Everyone While Trump paused the most recent tariffs for over 75 countries, U.S. tariffs still apply to Canada and Mexico primarily on cars and auto parts (25%), steel (25%), aluminum (10%), and some agricultural products like dairy, grains, and processed foods, and continue to affect cross border trade in manufacturing and farming sectors. Trump's pause also didn't apply to China In fact, Tariffs on Chinese good were raised to 125%, as China hit back with an 84% tariff on U.S. goods and filed new complaints with the World Trade Organization. See: Klarna Delays IPO As Markets React to Trump’s Tariffs After the tariff pause was announced, markets surged with the S&P 500 exploding 9.5%, the largest one day gain since World War II, according to Business Insider ...
Funding | April 9, 2025 Toronto’s Tailscale Secures $230M and $2B Valuation for Identity-First Networking On April 8 2025, Toronto-based Tailscale announced that they raised $230 million CAD Series C (about $160 million USD), valuing the company at approx $2 billion CAD. The round was made up of U.S. investors, led by Accel, CRV, Insight Partners, Heavybit, and Uncork Capital, along with some prominent individual investors notably George Kurtz CEO of CrowdStrike (returning investor) and Anthony Casalena CEO of Squarespace. New funds will be used to grow product and engineering teams, expand globally, and improved support for fast scaling customers. Tailscale - A Shift from IP Addresses to Identity Tailscale was founded in 2019 by former Google engineers Avery Pennarun, David Crawshaw, David Carney, and Brad Fitzpatrick, and officially launched in April 2020 to help users connect devices and apps securely without relying on traditional VPNs, IP rules, or firewalls. Tailscale uses a technology called WireGuard which is easy to setup and lets devices connect directly to each other, safely and privately. What's unique about Tailscale is its approach to solving networking challenges. Instead of relying on where a device is located (IP address), it focuses on who or what is connecting. This ...
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