The Big Read in short: Doing good and making money while at it

SINGAPORE — When it comes to business,"doing good" and"pursuing profits" are sometimes deemed as mutually exclusive goals.

And it is not just consumers who are driving this change by demanding more “innovations for good”: Governments around the world are also starting to put in place regulations in the environmental, social, and governance spheres that make these innovations all the more relevant. Dr Viknish, now 42, was a research fellow at the Agency for Science, Technology and Research in 2012, when he developed a thin “coating” to allow animal cells to attach themselves to, and grow at a quicker rate.

While he had been earning a stable salary at NUS, he found that the impact he would make as an academic may not be as meaningful as bringing his research and product straight to the market. Business deals stalled in the first months of the pandemic, but the firm was able to start raising funds in April last year, thus allowing it to continue its research and development to improve its product. While it was just Dr Viknish helming the company at the start, the firm now has 12 staff members.Dr Viknish Krishnan-Kutty , founder of Cellivate Technologies and his team poses for a photo in the lab on Nov 2, 2022.

However, the challenges of running a new company that seeks to find novel solutions to age-old problems are manifold. Indeed, the firm is fast growing. While his investors valued the firm just US$3 million last year in April, they now value it four times more — at US$12 million.“Once we get enough traction… then I think the financial returns will definitely be there, as there is a need in the world for these things, but it will take a little bit more time.

He spent five years with the firm before deciding in 2015 to start his own company, Liquinex, which specialises in water purification solutions. “It was a strain, because I was the sole breadwinner and my wife is a homemaker, so it was a difficult period, but we got through it,” he said. The"humanitarian suitcase" can produce about 3,000 litres of clean drinking water in six hours, which can sustain about 300 people. This is a far better yield than the traditional hand pump, which produces only about 4 litres of water for every 10 manual pumps.

Making Big Money, definitely. Doing Good ? I had serious reservation.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The Big Read: In a distressed world, the pursuit of both profit and purpose is mission possible for startupsSINGAPORE — When it comes to business, 'doing good' and 'pursuing profits' are often deemed as mutually exclusive goals. 🧫 Dr Viknish Krishnan-Kutty left his stable job as a research scientist at the National University of Singapore (NUS) and founded Cellivate Technologies, which developed a solution to accelerate the production of lab-grown meat.
Source: TODAYonline - 🏆 1. / 99 Read more »

Xi promises world 'big opportunities' as China's markets open up furtherChina’s president has pledged to open the country’s markets further as he reaffirmed his commitment to globalisation ahead of the world’s largest import trade fair, in Shanghai. “We have been offering big opportunities for the world economy by opening up China’s huge market,” Xi said in a televised speech to kick off the fifth edition of the China International Import...
Source: asiaonecom - 🏆 10. / 59 Read more »

A bribery probe of Olympic proportions in Japan ensnares household brandsTop executives of big companies charged in scandal linked to Tokyo Olympics. Read more at straitstimes.com. straits_times And we are talking about Japan whose education system / moral values teaches not to be greedy & emphasise on money. Now, imagine in a “pandemic”, money loving countries teaming up with Big Pharma with track record of bribery giving out commission $, shares & boardseats. 💉💉💉
Source: STForeignDesk - 🏆 4. / 71 Read more »