After spending much of his career in supply chain management, Richard Small (MBA, 2002) decided to go-it-alone and start his own business in 2017.

With the ever-growing threat of climate change in mind, Richard’s company InsPro, is ambitious in its goal to help find a sustainable solution to the global problem of food waste. Discover Richard’s inspiring story in the interview below.

Can you tell us a bit about InsPro and what the company hopes to achieve?

Formed in 2017, InsPro Ltd, aims to help tackle the global problem of food waste. If the global food waste mountain were a country, it would be the third largest greenhouse gas emitter in the world. Our mission at InsPro is to create a sustainable virtuous cycle that transforms food waste into super nutritious feed and fertiliser using insects, in particular, Black Soldier Fly Larvae.

Our business model is deliberately different to standard practice and the industry norm to build big and drive economies of scale. Instead, our dispersed model, enabled by Bio Conversion Units built in 20-foot shipping containers, takes ‘the process to the waste’ to reduce food waste miles and drive local nutrient circularity. The COVID-19 pandemic should have taught us that long, complex supply chains are vulnerable to unexpected change.

Can you tell us about your career journey so far?

I have worked in Supply Chain Management and Procurement for Sodexo, Gate Group and LSG Sky Chefs in the UK, Hong Kong, Switzerland and Germany. In this period, business was mainly linear rather than circular and little thought was given to waste or sustainability, with the performance focus mainly on price.

What challenges have you faced during your career and how have you overcome them?

Up until 2017 when we formed InsPro I was content with my career progress and to accept being employed. However, in 2017, and with a young family, I wanted to do more for the environment and to take more control over my career and so we formed InsPro.

Raising seed funding for InsPro has been challenging and ultimately rewarding. A combination of my passion and improving communication skills and our timely environmental proposition, means that investors have been keen, even to the point where when walking the dog, a complete stranger was convinced to invest.

Holding other people’s investments brings both opportunity and responsibility but our culture is to do things properly and responsibly and so we communicate both the good and the less good news and keep our investors fully informed. One benefit of this is that they can contribute to the running and networking of the business.

Our excellent chairman, Jonathan Callcut (who we met via SET squared) has delivered several new IT businesses but was attracted to InsPro because the output is more tactile and tangible than new algorithms.

What advice would you give to students and graduates looking to follow a similar career path to you?

Gaining an MBA opened many doors and starting my own business consolidated and built on all the theory gained on the MBA. In the uncertain times that lie ahead with global climate chaos innovation enabled by A.I. I would recommend starting a new business. It focusses the mind, drives creativity and agility in problem solving like nothing else.

Why did you choose to study your MBA at Warwick?

Warwick was a top 10 school, it was convenient and the modular programme allowed me to keep working which in turn enabled my employers, Sodexo and Gate Group, to fund it.

What was the most important thing you learnt from your time at Warwick?

MBAs create business self-confidence which in turn diminishes the apparent complexity of doing business and running your own business. Professionals like to shroud business practice complexity (such as with three letter acronyms) but in reality, business and financial management is not beyond anyone’s understanding.

Do you have a favourite memory of studying at Warwick?

Prof Peter Doyle, who has sadly now passed away was an inspiring lecturer and as my eldest daughter now approaches her time at university, I try to point out the real privilege it is to be given time and access to smart people who are willing to share and encourage their students. Having lectured a little at the University of Surrey I hope that as InsPro grows and starts to stand on its own feet more, I will have time to give back to other start-up entrepreneurs.