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innovation DAILY

Here we highlight selected innovation related articles from around the world on a daily basis.  These articles related to innovation and funding for innovative companies, and best practices for innovation based economic development.

meeting

What does it take for a regional ecosystem to be more than just the next innovative hub of their industry? How does a city realize that big companies and startups have to do more than just get along?

In some cases, it may take a new global HQ announcement. Sometimes, it comes from a unicorn exit. Other times, it requires a massive company to leave town to set new conditions.

 

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John C Austin

Since Rust Belt voters tipped the results of the 2016 election, interest in effective strategies for supporting new business and job growth in this important region has intensified.

Such interest recognizes that the states of the upper Midwest share more than their swing state status. A unique economic and social development storyline unites the industrial heartland, extending across all or part of 12 states from Minnesota and Missouri in the West, through the Great Lakes and up the Ohio River Valley to Western New York, and to Pennsylvania and West Virginia in the East.

 

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digital

During the 1980s, McKinsey’s Fred Gluck and Harvard Business School professor Michael Porter began writing about the interrelated activities through which companies create value for their customers. Executives have always had choices about how to perform the activities in this “business system” (Gluck’s words) or “value chain” (Porter’s). In the digital age, as information disrupts the nature of value creation in many industries, the range of choices available to senior business leaders has increased. For example, digital platforms in the pharmaceutical industry now make it possible to aggregate massive amounts of data on diseases—potentially accelerating the discovery and design of new drugs and challenging the industry’s legacy processes.

 

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new jersey

Gov. Murphy talks a lot about what he calls the ‘innovation economy.’

Today, he signed a bill that re-establishes a tech-oriented commission that was defunded in 2010.

“In 1985, a dear friend, a guy who has been a mentor to me, Gov. Tom Kean, created the New Jersey Commission on Science and Technology. As he said then, putting high-tech facilities in our New Jersey universities and leading centers will ensure a high-tech workforce that’s second to none. Those words ring true to the letter even 33 years on,” Murphy said.

 

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data

Modern data science emerged in tech, from optimizing Google search rankings and LinkedIn recommendations to influencing the headlines Buzzfeed editors run. But it’s poised to transform all sectors, from retail, telecommunications, and agriculture to health, trucking, and the penal system. Yet the terms “data science” and “data scientist” aren’t always easily understood, and are used to describe a wide range of data-related work.

 

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startup

Most financial institutions don’t work with early stage startups, which is why founders are turning to angel investors and venture capitalists for funding. Today, fewer deals and larger raises make early stage financing more elusive than ever.

Despite an impressive year of venture capital funding in 2017, investors are investing in fewer seed and pre-seed rounds, according to the “4Q 2017 PitchBook-NVCA Venture Monitor” (email required). The average entrepreneur is expected to self-fund for at least two years before raising outside capital.

 

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paperwork

When legal issues rear their ugly head, many entrepreneurs put them off and hope that they'll be resolved somewhere down the road. Entrepreneurs have enough things to worry about, from developing a proof of concept to hiring the first employees; the life of a startup is incredibly busy. Moreover, with all of these demands on an entrepreneur's time, legal matters can slip through the cracks.

 

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NewImage

In 2009, the rules of pitching competitions were rewritten by an innovative, socially-driven entrepreneur from Hult International Business School.

His name is Ahmad Ashkar, and he is the brain behind the Hult Prize.

The son of Palestinian parents who moved to the US in the 1970s, Ahmad began his career in finance in 2002, working on Islamic mortgage securities in the run up to the financial crash.

Image: from left) Taylor Scobbie, An-Nung Chen, Andres Escobar, & Juan Diego Prudot make up IMPCT Coffee

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NewImage

When I heard a friend and business mentor say, “Your startup won’t fail if you don’t quit,” I realized that every entrepreneur should adopt “never give up” as their mantra. Rather than quitting, there are always alternatives, like pivoting the business model or merging with new partners for support. Either could improve the statistic that half of startups fail within the first five years.

Image: https://blog.startupprofessionals.com

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NewImage

A Harvard scientist thinks he's reached a new milestone: a genetic test that helps identify people who are at high risk of having a heart attack. Can he convince doctors to use it?

"I think--in a few years, I think everybody will know this number, similar to the way we know our cholesterol right now," muses Sekar Kathiresan, director of the Cardiovascular Disease Initiative at the Broad institute and a professor at Harvard Medical School.

Image: SEKAR KATHIRESAN

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oatmeal

Oatmeal is a near-universally beloved breakfast. While it has historically been enjoyed across Europe, Russia and the U.S., oatmeal is rapidly gaining popularity in developing countries because of its affordability and its perceived health properties. But is oatmeal really good for you?

To answer that question, it’s first important to differentiate among all the different types of oatmeal. There’s steel-cut and rolled, quick-cooking and instant. But all of these terms refer to different methods of preparing hulled oats for cooking.

 

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us map

Buying a home has long been part of the American dream. But with middle-class incomes stagnant and home prices rising, for many that goal can feel out of grasp.

The U.S. home ownership rate is now lower than it’s been in decades, and millennials are more likely to live at home than any generation in living memory. And yet there are still several places in the country where home ownership remains well within reach of the typical worker.

 

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