Welcome to our ‘Unlocking Leadership’ series, where we tap into the wisdom of some of the most inspiring founders, business leaders and creative minds of today. Explore insider stories, strategies and insights, as we unlock the secrets of successful leadership.
Bruce Simpson is an international leader in business, sustainability and philanthropy — and a Founding Partner at AgeTech Capital.
While many regard ageing demographics as a challenge, and cost to society, AgeTech Capital turns this thinking on its head, seeing the ‘silver tsunami’ as an opportunity. Their strategy is to leverage entrepreneurs and next-gen AI to unlock the wisdom, experience, independence, productivity and passion of older adults — extending health and wealth span and increasing participation in our society and economy. They are raising a $100m VC and Impact fund to scale these innovative technologies.
Before AgeTech Capital, Bruce enjoyed a 33-year career leading client transformations at McKinsey & Company, where he’s now a Senior Advisor, coaching boards and CEOs on integrating sustainability into corporate strategy, operations, and culture.
He also regularly chairs Responsible Investor Conferences, mentors AI incubators and startups in the sustainability space, and contributes to thought leadership on stakeholder capitalism through articles, speeches, and podcasts all around the globe.
He is currently global Vice-Chair of Human Rights Watch, and has five decades of NGO Board leadership, delivering impact across environmental causes, human rights, diversity, financial inclusion and education. Bruce is originally from Scotland, and is currently based in Toronto, Canada.
What are three key qualities that guide your approach to leadership?
Generosity; because sharing and giving credit encourages others to take initiatives and step up, and builds a hierarchy of ideas rather than people.
Secondly, curiosity, because asking ‘why’ five times always gets you to the root of a problem.
And thirdly, resilience. Failure is a better teacher than success, as long as you bounce back smarter and stronger.
What’s the best leadership advice you’ve ever received?
I can’t resist sharing two best bits of advice:
1. Resilience trumps brilliance.
2. Leaders can’t only be at the front; they also have to be within; inside the team.
What’s the best advice you would give for developing company culture?
Listen deeply to the hearts and minds of the employees and allow culture to evolve and form bottom up, building on their aspirations — versus trying to dictate it from above.
What’s one strategy you advise for cultivating a diverse and inclusive workplace culture?
Celebrate the uniqueness in each and every individual to build and enable a sense of belonging. DEI initiatives are a means to that end. Furthermore, recognise that DE&I challenges aren’t just about hiring from more diverse pools; it’s also about mentorship, promotion and retention. Add into the evaluations of every manager the question: “What is this manager doing proactively to advance DE&I and belonging in their team?”
What’s one piece of advice for leaders who are looking to prioritise sustainability and ESG opportunities within their business?
Sustainability/ESG is not about an ideology, it’s all about materiality; about how improving sustainability delivers better business results and creates value at lower risk. Solidify the business case for justifying a focus on this, through five potential sources of economic value:
- Lower costs (e.g., emissions reductions always save on energy bills);
- Faster growth (e.g., organic products have twice the growth of other products);
- Less regulatory intervention (e.g., >20% earnings at risk through increased regulation);
- Higher productivity (research shows that where sustainability focus is such that it enhances purpose for employees, they’re four times more likely to be engaged);
- Lower cost of capital (high ESG performers have lower risk and debt costs).
What’s the single most important thing for you to have achieved in your career?
That the kids turned out alright, and that my wife still loves me.
Which leaders inspire you?
Gandhi, Eric Liddel (‘Chariots of Fire’), Jesus.
What’s a favourite motto or quote that you often draw on?
I have two favourites: ‘Onwards and upwards’ — always! Secondly, ‘If you feel lost, go climb a mountain. It will give you perspective.’ (That one is from my Mum.)
What’s one of the biggest challenges facing the AgeTech space today?
There is no lack of innovation. The biggest challenge is a lack of capital to scale AI solutions that are working — that is a gap AgeTech Capital will close, once we’ve raised our fund!
Another issue is a bias in society that the older population is a ‘drag’ rather than an opportunity. Some investors underestimate the potential which comes from increased ageing participation in our society and economy. In fact, older people are more productive than younger folks, and age diverse teams are happier and more balanced. And yet, many companies force mandatory retirement rather than encouraging people to stay; for example, in adapted part-time roles.
Furthermore, older people are more tech savvy than has been assumed, and next-gen AI is now easier to use, surmounting tech adoption issues from before.
Explore our upcoming programme: Redefining Later Living
What aspect of ‘redefining later living’ do you find most exciting?
I’m most excited about how next-gen AI and entrepreneurship will unlock the full potential of our older demographic, delivering extraordinary economic and societal potential — fully closing the gap between health/wealth span and lifespan.
For example, AgeTech Capital has already invested in LifestyleRX: a Canadian startup offering a tech platform to doctors supporting their coaching of patients with Type 2 diabetes.
A third of older adults get Type 2 diabetes, it’s the type which can often be cured through changes to lifestyle and nutrition. Use of the Lifestyle RX platform links to 46 per cent remission, saving $6k per patient to the Canadian healthcare system, and use of the platform is 100 per cent reimbursed. Imagine that solution being used everywhere; imagine the number of lives changed and the cost savings to our overloaded healthcare systems!
What do you envision to be the ‘next big thing’ or game-changing moment within the AgeTech space?
The moment when AgeTech Capital is fully funded and unleashed across the market at scale. We are the only Venture Capital and Impact fund in the space, and we are on a mission to deliver extraordinary impact and transform our communities.
What’s inspired your deep passion for environmental and social causes?
My parents are arctic explorers. This gave me an extraordinary formative childhood, much of which was spent living with first nations families in Northwest Greenland and the Canadian Arctic. This gave me a strong sensitivity from a young age to the fragility of the wilderness, and challenges to the human rights and livelihoods of people living in remote regions. This provided the early roots of my passion for sustainability and social causes.
Explore our upcoming programme
As stereotypes and stigma around old age are increasingly becoming out of date, ITN Business’ news-style programme, ‘Redefining Later Living’ will help to reinforce positivity around ageing well and embracing later life. It will showcase themes such as medical advancements, innovations and tech, housing designed for later years, the benefits of upskilling or retraining, and ways to have a fulfilled retirement.
