Designed to respond to the consumer's every wish, the on-demand economy is transforming companies and the labour market, and its rise is undermining the strength of the traditional players.

The term "on-demand economy" was made popular by the rapid success of the new Silicon Valley start-ups led by Uber and Airbnb, and now everyone is talking about it. It refers to business activities where companies use new technologies to bring goods and services to consumers virtually immediately, and is experiencing staggering rates of growth. And so, scarcely seven years after it began, Uber is worth over 60 billion dollars. In the United States, 42% of people have used an on-demand service at some point. This is a trend set to continue.

Aside from the most well-known services that allow customers to order a driver, a meal, a doctor or lawyer, the on-demand economy now seems able to satisfy the consumer's every whim, even the most outlandish. Booster offers a mobile petrol pump service allowing drivers to fill up at any time. Through Techy you can request the services of an IT expert to fix your computer. FriendsTonight finds its users companions for any trip, such as to the cinema, a bar or nightclub. Pamper lets you order a manicure and Soothe brings you a massage. With Trumaker, you can find a tailor to cut you a suit. Washio will do your washing. And finally, Wag! walks your dog for you. There are even start-ups in California that deliver cannabis on demand, plus for Roman Catholics with an urgent need to confess, Scooterino Amen can bring a priest on a scooter to your door. It seems that the economy is more directed towards the immediate gratification of the consumer than ever before.

A new phase of capitalism

The arrival of the on-demand economy marks not only an anthropological development, but also the beginning of a new phase of capitalism. At the start of the 20th century, the introduction of assembly and production lines meant that Henry Ford could mass produce the Ford T at a reasonable price, a development that began to make the automobile more accessible to all. Today, the on-demand economy is allowing ordinary people to access services that were once the preserve of the privileged.

Several factors have converged to allow this revolution to occur. The first is the boom in new technologies. Powerful microcomputers available at low prices mean entrepreneurs can achieve a great deal by working alone from their own home. The spread of smart phones is also enabling autonomous workers to react quickly and move around with ease. And thanks to the internet, complex tasks such as programming or drawing up legal documentation can be outsourced to professionals working remotely.

In short, new technologies are creating relationships that are more fluid: large companies with very strong hierarchies and a stable workforce located in physical premises are giving way to less precisely structured entities composed of a small team of leaders and a constantly fluctuating mass of contractors. They may not even have an office, but those at the top direct the business while their staff work flexibly to meet customer requests.

The swift rise of the on-demand economy has also been facilitated by the financial crisis, which led to an availability on the labour market of young, flexible workers with good access to technology. Today, 34% of US workers are self-employed. Finally, the on-demand economy is the consequence of a shift in the balance of power in society. As The Economist states, whereas Karl Marx once laid out the opposition between the owners of the means of production and their workers, the dichotomy that stands out today contrasts individuals who are cash rich and time poor and those who have less money but much more time. The on-demand economy means transactions can take place between these two kinds of economic agents, and the latter can be paid to provide the former with services that they have no time to carry out themselves.

The winners and losers of the on-demand economy

The on-demand economy has changed the capitalist paradigm, bringing about far-reaching changes within society, the world of work, and even the lives of individuals. There are positives and negatives, as with any radical change. This is why it causes so much passionate debate, as illustrated by the many legal challenges and demonstrations against Uber and the aborted attempt to legislate to limit the expansion of Airbnb in San Francisco. Its opponents regard it as a reversal of social progress and a return to the brutal capitalism of the 19th century, when long queues of workers waited every morning in the hope of picking up a day's work.

But the supporters of this new reality emphasise the flexibility it gives workers, who are free to work wherever and whenever they choose. They also highlight the freedom consumers now have to choose from a wide range of services accessible on demand at prices they can afford. The defenders of the on-demand economy also say that it enables a better allocation of resources in society. For example, many rooms that would otherwise remain empty can be offered to tourists temporarily through Airbnb, and Uber allows several passengers to share the same vehicle.

Consumers certainly appear to be holding all the cards; for workers, however, the picture is more mixed. Those who value flexibility over security benefit from the new reality. This is the case for students wanting to earn a bit of cash, those who loathe office hours, young parents who would like to work part-time while raising their children, or older people nearing retirement who want to reduce their working hours. On the other hand, workers who favour security over flexibility, such as families with mortgages and tuition fees to pay for, stand to lose out in the new economic environment. It is therefore up to governments to adapt their welfare systems to better reflect society's needs in the light of the rapid rise of the on-demand economy. The American model, where health insurance is provided by the employer, is not at all appropriate for these circumstances and ought to be reformed so that every worker is covered.

Traditional actors forced to catch up

The on-demand economy also implies a significant shake-up on the majority of markets. This is firstly because companies offering on-demand services naturally launch on existing markets, where they proceed to impose very stiff competition on the traditional players. The most striking example of this is of course the arrival of Uber on the taxi market. But secondly, the heavyweights of the on-demand economy, which have the benefit of their brand names, capital and the latest technology, can swallow up sectors other than that of their principal and initial line of business.

If we remain with the example of Uber, the company quickly realised that drivers were extremely busy in the mornings and evenings, but had far fewer jobs in the middle of the day. And so to fill the off-peak hours, it began to offer additional services. First came the food delivery service, UberEATS, then the company delivering anything, UberRUSH. From a taxi company at the forefront of technology, Uber has gradually transformed itself into a service platform devoted to nothing in particular, able to turn its hand (or its vehicles) to various types of requirements.

Besides taxis, start-ups delivering food such as Caviar or Munchery are the ones facing competition, as well as longstanding firms on the delivery market such as FedEx and UPS. The name that Uber quickly built for itself, combined with its solid IT infrastructure, has allowed it to rival institutional players in a field where it was initially an outsider. And so these firms are obliged to respond to demand and follow the lead of Uber, or to at least adapt what they offer to meet the new rules of the on-demand economy. This is why UPS has just invested 28 million dollars in the start-up Deliv, which provides a same-day delivery service. The fast food brand Taco Bell has also established its own system for delivering food. And taxis are using smart phone applications modelled on Uber ... Little by little, with missionary zeal, the on-demand economy is converting its competition rather than taking them out.

(Source: www.atelier.net)

Thanks to its low-pollution solutions and the arrival of new investors, the Mons-based company has every intention of continuing to grow. Discover more about this inspiring success story.

Eradicate the environmental and health problems associated with medical waste on a global scale: Ecosteryl's ambitions match the technical expertise of this Mons-based company. Founded in 1947, its core business was equipment and machinery for the mining industry.  Around twenty years ago, it completely reinvented itself by specialising in the treatment of (potentially) infectious waste from the healthcare sector.

A global player with high-profile clients

Today, Ecosteryl is a globally recognised player in its sector, exporting 100% of its production to more than 65 countries. Its customers? Hospitals, of course, but also organisations in the waste recycling sector and international institutions such as the World Health Organisation, the World Bank and the United Nations, as well as cities and states. The company employs around forty people and has an annual turnover of over €20 million.

Medical waste, a critical public health issue

Syringes, dressings, masks, sharp instruments... 15% of medical waste is considered hazardous and therefore requires special treatment. Given that a single hospital bed produces between 0.5 and 3 kg of this waste every day, it's easy to imagine the scale of the problem. The infectious, toxic and sometimes even radioactive risks associated with hazardous medical waste are far from minimal: among other things, it can trigger or accelerate a pandemic, and even give rise to new diseases. Decontamination and recycling of this waste, the only solution to eliminate this health risk, is therefore a global public health issue.

An environmentally responsible process

Direct incineration or autoclaving: these are the two methods used by Ecosteryl's competitors to decontaminate hazardous medical waste. The problem is that these processes are far from being environmentally neutral. Incineration causes significant CO2 emissions and harmful emissions, such as dioxins, and is also energy intensive. And autoclaving requires large amounts of water and energy, again with significant environmental consequences.

It is in this area of the environmental footprint that Ecosteryl has made a difference, thanks to a technological breakthrough developed in collaboration with the University of Paris. The decontamination and recycling process uses microwave and dry heat technology to disinfect hazardous waste. The decontaminated waste is then shredded to reduce its volume, after which it can be processed in the same way as non-hazardous waste. Or better still, it can sorted and recycled.

This process requires very little electricity to operate, and its environmental performance compared to incineration and autoclaving is incomparable in terms of emissions and water consumption.

Too much plastic in medical waste: recycling instead of prevention

Single-use plastic products, equipment and utensils are a fact of life in hospitals. In many cases, this single use is justified, for example for syringes. The problem arises when this waste is directly incinerated. But thanks to pre-treatment, decontaminated and dried waste can be given a second life.

Until now, there has been no machine for this final stage. Ecosteryl's latest development, R-Steryl, fills this gap. It is a unique sorting centre. Placed after the decontamination machines, it can sort decontaminated waste and recycle up to 80% of it. The major players in waste collection and treatment know that recycling is and will be a real challenge in the coming years. Ecosteryl is also positioning itself as a key player in this field, and is investing in a number of analyses to this end.

Private equity to accelerate development

Despite its size in the medical waste decontamination sector, Ecosteryl has no intention of slowing down. The company intends to continue and accelerate its international growth, and welcomes new investors: BNP Paribas Fortis Private Equity,  Wallonie Entreprendre and IMBC, an investment company focused on the Mons, Borinage and Centre regions. Philippe Dufrasne, Chairman of Ecosteryl, comments:  “With these new shareholders, we have found the right partners to help us stay ahead of the game and achieve our long-term goals, particularly in terms of ESG (Environmental, Social and Governance) performance.”

A priority to invest in the transition of companies

BNP Paribas Fortis is also enthusiastic about this new project.

“We are particularly proud to support this company, which has developed a unique expertise in the production of cutting-edge equipment specialised in the environmental field. Over the years, Ecosteryl has succeeded in expanding worldwide in a niche market at the intersection of environmental and health issues. This investment is fully in line with our ambition to invest €1 billion in venture capital by 2025, focusing on funds and companies that respect environmental, social and governance criteria,” explains Raf Moons, Head of Private Equity at BNP Paribas Fortis. 

The Princess Elisabeth Island, is the world's first artificial energy island for transporting offshore wind power to land. A combination of innovation, technology and biodiversity conservation.

8,802 km: that's the length of all the onshore and offshore power lines and cables managed by Elia Transmission in Belgium.  As the operator of the Belgian high-voltage grid, Elia keeps the lights on by matching electricity generation and consumption at all times.

Artificial energy island

Grid operator Elia has just started to work on one of the most challenging projects in its history: the Princess Elisabeth artificial energy island. It will be located in the middle of the 285km² Princess Elisabeth wind zone. This is the second offshore wind zone in the Belgian North Sea that has yet to be fully built. With a capacity of 3.5 gigawatts, the new wind farms will produce electricity equivalent to the annual consumption of 3.5 million households.

Catherine Vandenborre, CFO of Elia: “The Princess Elisabeth Island is a vital link in the successful energy transition in Belgium. The island has a dual function. First, it will bring electricity from the new offshore wind farms to the mainland. And then from 2030, the island will also be connected to wind farms in other countries with which electricity can be exchanged. This will give our country access to cheap and renewable energy.  This is crucial for our energy-intensive industries, which are rapidly moving away from fossil fuels and switching massively to wind energy over the next 10 years. In this way, Belgium is contributing to Europe’s climate goals and the ambition to realise 300 gigawatts of offshore wind in the North Sea by 2050.”

Designing for nature

In terms of location, design and implementation, due attention is being paid to limiting unwanted impacts on the marine environment. “We are going one step further and opting for nature-inclusive design,” explains Catherine Vandenborre. “In consultation with experts, we are taking concrete steps to protect the biodiversity around the island. For example, we are adding ledges to the outer storm walls where the kittiwake – a vulnerable bird species – can rest and breed. Below the waterline, several measures will be combined to create a diverse and rich artificial reef, with a particular focus on the return of the European flat oyster.  The measures have been selected on the basis of their technical feasibility and expected positive outcome.”

Co-creation and innovation

Achieving such a nature-inclusive design required close collaboration and knowledge sharing between all stakeholders and different domain experts. “An instructive process for all involved,” confirms Vandenborre. “With this initiative, Elia wants to set the tone for the environmentally friendly realisation of future offshore infrastructure. Europe’s seas are becoming the power stations of the future. By integrating biodiversity conservation measures from the design and construction phases, we want to increase and accelerate the positive outcomes. The co-creation project with the experts has already made an important contribution to scientific development in this field. But the work is not finished. Monitoring programmes will be put in place to follow up, and if necessary, adjust the selected measures.

Ready for the next gust of wind

As one of the main financial partners, BNP Paribas Fortis is supporting Elia’s transition to a reliable, affordable and environmentally friendly energy system. BNP Paribas Fortis has already financed 8 offshore wind projects in the Belgian North Sea. These 8 farms together represent 2200 megawatts, equivalent to 2 to 3 nuclear power plants. The next round? New wind farms in the Princess Elisabeth zone. This will be done through project financing, with the underlying contracts and resulting cash flows backing the loans.

How does Ziegler aim for greater environmental responsibility? By methodically exploring various avenues. Their approach is based on four key pillars.

The Brussels-based scale-up Optimy brings together corporate volunteering, donations, patronage and sponsorship activities all on one platform. On it, their impact on society is concretely measurable.

"Originally, I didn't think of myself as a social entrepreneur, even though I was involved in sponsorship. At the request of our customers, my partners and I have developed an entire provision of services that has become the most comprehensive platform on the market," says Kenneth Bérard, CEO of Optimy.

One of these customers was the BNP Paribas Fortis Foundation, which wanted to make a greater social difference and also give these actions more visibility. "It's a must for companies to contribute to society. This generates added value for the company and fuels a positive spiral. But that social impact has to be measurable. How many children have been helped? How many trees have been planted? What effect does this have on employee satisfaction, image and turnover? Our model offers all of this. This means that companies don't have to purchase new modules every time they want to add additional activities. I think that’s our great success factor. We are the market leader in Europe in our sector and the only company operating in both Europe and North America."

Personal support

"Many companies are full of good intentions. They want to have a positive impact on society, but they often lack a good method to do this efficiently," the entrepreneur notes. "They tend to see all their efforts in isolation. The Optimy platform offers a solution for this. It's easy to put together and it's service-oriented. We adapt to the processes of each business unit and company. It doesn't work the other way around," assures Bérard. "Our customers are not looking for technology; they're looking for guidance. We invest in personalisation, and it's paying off, as a customer satisfaction survey shows."

Structuring actions

The first piece of advice that Optimy always gives companies is: don't shred your efforts, they should form a whole. "We recommend that companies structure their actions using our tool. The corporate social responsibility policy must be in line with the company’s values, DNA and broader strategy. And of course, the actions must be transparent and well executed."

The right partner

From the beginning, the connection Optimy had with BNP Paribas Fortis was decisive for the company’s growth. "The fact that the bank follows us has increased our credibility with our partners, investors, customers and also internally. Now it's setting up a factoring service for us to further support our growth."

Optimy's growth was initially supported by cash flow, which is unusual for a technology company. Financing came into play beginning in 2019. That's when a Canadian fund specialising in software as a service (SaaS) companies and affiliated with the prestigious Massachusetts Institute of Technology (MIT) became a shareholder.

Multicultural enrichment

As with increasingly more companies, one of Optimy’s biggest challenges is recruiting new talent. “We've been able to convert that challenge into an asset,” concludes Bérard. "We attract talent from abroad. Sixty people from twenty nationalities work in our Brussels branch. This multiculturalism is a huge enrichment and has helped us break through internationally."

“The corporate social responsibility policy must be in line with your company’s values, DNA and broader strategy”.