Innovation America Innovation America Accelerating the growth of the GLOBAL entrepreneurial innovation economy
Founded by Rich Bendis

Venture capital shortage may stunt innovation, [Bendis] says in Cedar Rapids

Young business enterprises need financial investors to help them grow.

But the recession has slashed early-stage angel and venture capital investment in the United States, threatening a generation of innovation and eliminating the chance of creating thousands of jobs.

Richard Bendis, president and chief executive officer of Innovation America in Philadelphia and keynote speaker for the Entrepreneurial Development Center Client Expo on Tuesday in Cedar Rapids, says the situation is dire and needs federal government action.

Ernst & Young Entrepreneurial Winning Women™ Calling women entrepreneurs with big plans

As part of our long-standing commitment to the advancement of women, Ernst & Young invites outstanding women entrepreneurs to accelerate the growth of their businesses and realize the potential they envision for their companies.

The second annual Ernst & Young Entrepreneurial Winning Women program is seeking a select group of women entrepreneurs to join an elite network of the country’s best entrepreneurs, high-growth companies and the advisors who can guide and support them.Join the country’s most prestigious gathering of high-growth, market-leading companies and the advisers who can guide and support them.

The Economist announces innovation competitions for energy and media

Finalists to present to an audience of top executives at Economist Event


The Economist is holding two innovation competitions to find the most exciting, game-changing innovations that will have a marked impact in two key areas: new media and energy. Twelve finalists will be invited to present their innovations at Economist Events to an audience of top executives in the field, and will receive complimentary conference registrations (value at up to $2495). The winning presenter will receive exclusive bragging rights and a free subscription to The Economist in the format of his or her choosing.

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Forum held to drive green innovation and commercialization Editor: Wang Guanqun

LOS ANGELES, Aug. 4 (Xinhua) -- A two-day Green Tech Connect Forum was held from Monday to Tuesday in Pasadena, California to help drive green innovation and commercialization in the United States.

It is the first time the South Coast Air Quality Management District has ever hosted such a forum to help establish a partnership between green tech developers and investors.

Global Contact: Rebecca Morley

(215) 568-2525

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New Topics, Innovative Format and More Speakers Highlight 2nd Global Creative Economy Convergence Summit Set For October 5-6

Hosted by Innovation Philadelphia, Conference to Feature Elizabeth Gilbert, Peter Shankman, Jane McGonigal and Randall Kempner as Keynote Speakers

July 28, 2009 (Philadelphia, PA) – Calling all creative minds. Innovation Philadelphia will host its second Global Creative Economy Convergence Summit ( at the Pennsylvania Convention Center from October 5-6, 2009. Following the success of its inaugural conference in 2006, Innovation Philadelphia invites entrepreneurs, business leaders, and creative industry professionals to join this two-day Summit to network, exchange ideas, and share information on emerging technology and initiatives that drive a successful creative economy.

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Article originally appeared in:  Federal Technoogy Watch vol. 7 no. 30 August 3rd, 2009.  For more information and to subscribe contact Neil McDonald (This email address is being protected from spambots. You need JavaScript enabled to view it.).  Article reprinted with permission.

“I’m an innovation junkie!” Innovation America president & CEO Richard Bendis told the SURA Bridge Commercialization and Innovation Forum held July 15 at the Southeastern Universities Research Assn.’s (SURA) Washington DC office.

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Rochster Eyes on the Future 2009 Economic Summit to feature Richard Bendis

ROCHESTER, N.Y., June 12-Last December, Richard Bendis lead discussions with the Obama transition team on government funding for entrepreneurism and job growth. This fall, Bendis will headline Eyes on the Future 2009, a Greater Rochester Region Economic Summit, to help guide a conversation on the area’s economic outlook.


Rochster Eyes on the Future 2009 Economic Summit to feature Richard Bendis

ROCHESTER, N.Y., June 12-Last December, Richard Bendis lead discussions with the Obama transition team on government funding for entrepreneurism and job growth. This fall, Bendis will headline Eyes on the Future 2009, a Greater Rochester Region Economic Summit, to help guide a conversation on the area’s economic outlook.


SSTI has prepared a table displaying the amount companies spent on R&D in each state from 2003 to 2007, the state’s rank in 2007, the percent change over this five-year period, and the rank of that percent change. For the U.S. as a whole, industry-funded R&D was $204 billion in 2003 and rose to $269.3 billion in 2007 – a five-year jump of 32 percent. Note, the amounts in the chart are not indexed to a single year, but reflect values from when the data was released.

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Venture Capital Funding Takes a Plunge by Scott Duke Harris

"Confronting the roughest recession in generations, the nation's venture capital industry raised only $1.7 billion in the second quarter of 2009 — a cliff-like plummet from the $4.6 billion raised during the previous quarter, according to an industry report released Monday."

"It was the smallest quarterly dollar total since the first quarter of 2003, when $938 million was raised in the depths of the dot-com crash. Meanwhile, the number of new funds created in the quarter shrank to 25 — the smallest number in 13 years."

For the full article, see the above link.

Tarp Capital for Small Businesses Is Back in Play, by Emily Flitter

The White House is weighing another attempt to help small businesses with bailout funds, but doubts remain about whether lenders will bite.

Just how the Trouble Asset Relief Program might be used to aid small businesses has not been decided, but the issue is expected to be aired this morning at a meeting with the head of the Small Business Administration, lawmakers and industry leaders.

"This is a signal that the White House continues to be concerned about the credit crunch on small businesses," said Christopher Crawford, who was to attend and is the president and chief executive officer of the National Association of Development Companies.

Growing innovative businesses (Rep. David Wu), from The Hill's Congress Blog

"After 20 years, even successful programs often need a tune up. That’s just what the Small Business Innovation Research (SBIR) program got last week when the House updated it to help grow innovative small businesses and insure that American innovators can compete more easily in today’s changing global economy. SBIR will now be better equipped to help America’s entrepreneurs commercialize innovative technologies, creating new products and new American jobs."

Creating a National Innovation Seed Fund of Funds: A Primer (Click here for the PDF of the presentation)

Mr. Richard Bendis, Founder, Innovation America

Presentation Abstract:
Science, technology, and innovation experts in the United States today almost unanimously agree that our country needs to launch a collective national effort to accelerate U.S. technological- and innovation-based growth. Amid a global economic downturn during which other nations are boosting their already significant public- and private-sector efforts to build more competitive, innovation-led economies, the United States stands almost alone in the world without a national innovation framework.


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Cross-border angel investors looking to raise $20M fund by  Tom Henderson

"Detroit-based Great Lakes Angels has joined forces with angel groups in Toronto and London, Ontario, and with the University of Windsor to form Nouveau Angel Capital Corp., which hopes to raise $20 million to invest in early-stage companies in Southeast Michigan and southwestern Ontario."

Nouveau's founders think it is the first public company in the U.S. or Canada to facilitate angel investing, and so does Jim Jaffe, president and CEO of the National Association of Seed and Venture Funds.  ...  “There are some angel groups that have formed private funds that operate like mutual funds, but I'm not aware of any public companies doing this,” he said. “The concept is exciting and unusual. My guess is that even in these difficult economic times, it may well find a group of interested investors.”

Venture Capitalists Look for a Return to the A B C’s By Claire Cain Miller

"Much of the soul searching along Sand Hill Road in Menlo Park, where many of the venture capitalists have offices, is leading to the same conclusion: venture capital needs to go back to basics. The biggest names in the industry are concerned about low returns and are blaming several factors: funds that have grown too large, the M.B.A.’s that have invaded the industry and older partners who have lost touch with what is new in technology."

"And certain investors dispute that too much money is the problem. Timothy Draper, founder of Draper Fisher Jurvetson, thinks there should be more venture capitalists, not fewer. “I don’t think we have enough venture capitalists to spread the wealth to the seven billion creative minds out there,” he said."

Venture-Backed Start-Ups Seek Stimulus, The WSJ.  (subscription required to read entire article)

"Venture-capital investors see Washington's economic stimulus program as a potential financial boost for the hard-hit technology firms and other start-ups they own. Of particular interest is more than $60 billion earmarked for four sectors widely invested in by venture-capital firms: environmentally clean technology, rural Internet broadband, cyber security and health-care information technology."


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