Pfizer and Verdant-Day 4

Today’s session was dedicated to several topic and speakers.

Morning started with Pfizer. Mr Aaron Foster introduced his company and discussed trends in emerging market.

Couple of points that he made:

  • Pfizer expects half of revenues to be coming from developing markets
  • Aging European population will have a positive impact on future growth outlook
  • Pfizer is the biggest investor in marketing and advertising activities compared with competitors

After break we had a brief meeting with consular of Hungary in USA and addressed the issues about Hungary’s strategy for innovation; whether it is preferable to be a stand-alone player or develop a regional strategy.

In the afternoon class headed to Roosevelt Island to get acquainted with Verdant Power-a company that started operations in 2000 to deliver clean and renewable energy from oceans, rivers and manmade channels. To achieve this goal, it deploys a free flow system that is installed under the water and generates energy. After thirteen years of rebellious work, company finally obtained a pilot license to test the technology. Though US government puts a high emphasizes on renewable energy, regulatory framework does not support start-ups to compete with already established players, despite this Verdant keeps fighting a battle of David and Goliath.

Evening ended pleasantly with a nice wine and dinner at Carmine’s, an elegant Italian restaurant in the heart of Times Square.

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