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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.

failure

If attracting heaps of venture capital is supposed to vouch for a startup's potential, then how come so many of them wither and die a short time after they’re funded? Recent research by CB Insights shows that tech companies typically shutter within 20 months of their last financing rounds, with 70% dying before raising $5 million. What's more, the majority of new tech startups—55%—die before raising $1 million.

There's no one cause for that high mortality rate, but these are a few of the more common reasons tossed around during postmortems:

 

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NewImage

Accelerators find promising start-up companies, provide facilities they can use, invest seed money, arrange teaching sessions and set up a Demo Day. SparkLabs set up the model, which echoed the history of Y Combinator.Nov 30,2015

Kim Yoo-jin, a 38-year-old director of SparkLabs, left on a business trip to Tokyo Monday morning to attend Demo Day on Tuesday. Demo Day is a conference where start-ups give presentations on their technology and business strategy to potential investors. For this year’s Demo Day, Kim spent the last three months preparing the pitches for eight start-ups, including Wahome, a platform that connects homeowners with domestic workers.

Image: http://koreajoongangdaily.joins.com

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NewImage

NEW DELHI — In a sprawling wholesale market of timber, glass and marble, businessman Amit Gupta supervises workers loading sheets of glass on trucks for builders across India — his family business for five decades.

As plumes of sawdust float, Gupta says he wants to play a role in the new economy. For the past year, he has been reading newspaper stories about the booming start-up culture, with millions flowing in from venture capitalists and nerdy graduates of India’s tech universities becoming millionaires overnight.

Image: Vishal Gupta, co-founder of start-up parenting portal mycity4kids.com, is shown in his office with his team members on Nov. 18. (Rama Lakshmi/The Washington Post)

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Wikimedia Commons Office Space - Accelerator - Incubator

Although still in college you are a budding entrepreneur who would rather start a company of your own than work for someone else. You want guidance on how to go about but do not know where or who to turn to.

Noticing the wave of interest for entrepreneurship among students quite a few private colleges and education institutions in Bengaluru have set up their own startup incubators and innovation hubs to give wings to business ideas of their students.

 

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video game

Some day, your resume or interview might not be what lands you a job. One major company is now using a video game to evaluate candidates.

A detailed article by The Guardian explains how the consultancy and accounting firm Deloitte is taking a completely different approach to their hiring methods by focusing on the qualities of the employee's skills rather than their background, education or other factors. They tapped Arctic Shores to create a special "psychometric" game for evaluating candidates.

 

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light bulb

Massey University, industry leaders and Auckland Council have partnered to undertake a research project dubbed Grow North. This project aims to identify the obstacles and opportunities in developing an innovation district in Auckland’s north.

What might this look like? At this stage, this is a very open question, but after interviewing a broad range of interested stakeholders, several key features have been universally identified. The first is the recognition that an innovation ecosystem already exists, both virtually and physically. There are small hot spots of collaboration and co-working peppered throughout the area north of the Auckland Harbour Bridge – and these must be fostered, rather than shut out of a newly-established ecosystem.

 

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Gay Gaddis

Entrepreneurs can emerge at any age. We have all heard stories of the children who started out with a lemonade stand and later blossomed into business builders. Recently, I ran across the proverbial lemonade stand story that led to an overnight success.

Meet Riley Kinnane-Petersen, a precocious, adorable six-year-old girl living in Atlanta, Georgia. She is in the process of building an amazing jewelry company. One of her fathers, John, makes beautiful one of a kind necklaces. As early as three years old, Riley was helping him find unique shiny objects for his wares at antique stores, flea markets and thrift stores. The vintage items are beautifully configured into works of art and he sells these necklaces under the company name of Gunner and Lux.

 

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10 Mistakes You are Likely To Make as a First Time Entrepreneur

Being a stickler of accuracy and perfection is not always healthy, especially when you are starting up with your first venture. In fact, forget healthy, it is simply not possible. Nevertheless, one can not deny the fact that an entrepreneur’s first venture is almost like his/her first baby. Since, you give birth to a new idea, nurture it at the cost of your sweat and blood, it is very natural to get over protective about it. But with time, you realize that being reasonably flexible and relaxed is the best way to function as a founder.Anyway,it is important to remember that mistakes on the path of entrepreneurship are inevitable.

 

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technology

The international buzz of the Rugby World Cup may have faded from Cardiff’s streets, but Welsh tech companies are working hard to put their country on the map for more than just the national sport.

South Wales is among the five fastest growing digital clusters in the UK, according to Tech City’s 2015 report. Over 28,000 people from the region are employed by digital companies, with 98% of those businesses expecting their revenue to increase next year.

 

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VABeachBio Logo

Virginia Beach has long been an expert at luring visitors with its sun and sand.

But now, there’s a serious effort under way to attract men and women who will spend the majority of their days indoors.

Earlier this month, the Virginia Beach Department of Economic Development launched VABeachBio (vabeachbio.com), an initiative to attract biomedical and life science businesses to the city.

 

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Assembling a cell to test sodium-ion (Na-ion), battery materials in a glove box. Credit: © Cyril FRESILLON/CSE/CNRS Photothèque

After two years of research, a French team, mostly including researchers from the CNRS and CEA within the RS2E network on electrochemical energy storage have just designed an alternative technology to Li-ion for application in specific sectors. The researchers have developed the first battery using sodium ions in the usual "18650" format, an industry standard. The main advantage of the prototype is that it relies on sodium, an element far more abundant and less costly than lithium. The batteries have displayed performance levels comparable to their lithium counterparts, and this new technology is already attracting industrial interest. It could be used to store renewable energies in the future.

Image: Assembling a cell to test sodium-ion (Na-ion), battery materials in a glove box. Credit: © Cyril FRESILLON/CSE/CNRS Photothèque

 

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diet

A new study shows people’s bodies react to the same foods in very different ways, adding to a growing body of research that suggests people may be better able to achieve weight loss if their diet was tailored to them, rather than following general advice about foods to eat and avoid.

In the new study, published this month in the journal Cell, a team of Israeli researchers looked at a variety of biomarkers in 800 people between the ages of 18 and 70. For one week, the men and women wore devices that measured their blood sugar levels every five minutes. They also used a mobile app to closely record their food intake, sleep and exercise. In addition, they filled out questionnaires about their health, and provided blood and stool samples for testing.

 

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NewImage

GRAND RAPIDS, MI -- More than a dozen countries have a higher entrepreneurial spirit than the U.S.

That's the result of the first Amway entrepreneurial spirit index, which measures people's attitudes and willingness to start an entrepreneurial business.

The countries that topped the index are India, China and Thailand, respectively. The U.S. came in 14th.

Image: http://www.mlive.com

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Deloitte CTO Bill Briggs

Technologies like augmented reality and augmented intelligence will actually empower and amplify the individual and result in new opportunities for more people, according to Deloitte CTO Bill Briggs.

Briggs said that, just as the apps economy created jobs that didn’t exist before and how many of the new roles of today didn’t exist 10 years ago, the idea of robots and algorithms replacing humans is missing the point.

 

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NewImage

Bristol’s Engine Shed has been named as the best business incubator in the world after creating 9,000 new jobs and contributing £3.8 billion to the UK economy.

SETsquared, which is a partnership between the universities of Bath, Bristol, Exeter, Southampton and Surrey, was awarded the top accolade by UBI Global this week.

Image: Nick Sturge (left), Sajid Javid & Colin Skellett (right) - http://www.businessleader.uk.com

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Tim Draper

Prominent venture capitalist Tim Draper, founder of DFJ and Draper Associates, joined Crowdfunder CEO Chance Barnett earlier this month to chat about equity crowdfunding and what it means to the world of early stage / VC funding. Draper believes there is a chance that VCs may get “Napsterized” referring to the fabled file sharing platform that foreshadowed the advent of all music moving online (thus vaporizing most CDs / Vinyl).

 

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Dileep Rao

Would you invest in an industry that loses on about 80 percent of its investments, makes a decent return on only 19 percent and have home runs on only one percent? Yes you would, if the one percent includes companies like Google, Facebook, and Uber where the return is in the billions.

The harsh reality is that only about one percent of venture capital investments are home runs and earn most of the profits of the VC industry. If it were not for this one percent of home runs, the VC industry would have been shuttered a long time ago.

 

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internet

Nowadays it’s difficult to tell when Black Friday ends and Cyber Monday begins. But it’s probably not that important to differentiate among them anyway. Regardless of when you’re shopping during the period between Thanksgiving and Christmas, you won’t be able to swing a smartphone without hitting a sale—or, more likely, three dozen sales and special offers, inundating your in-box.

 

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