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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.

The Russian government’s key trend is the creation of an innovative basis for economic development.

Prime Minister Dmitry Medvedev stated this at a conference in Rostov-on-Don in southern Russia.

He said 24 billion rubles or 800 million U.S. dollars had been allocated to finance the technical and technological modernization up to 2020.

He urged the specialized departments to actively take part in modernization and adopt the world’s best experience, and invite foreign experts to scientific institutes and higher educational establishments.

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DAVID SHAYWITZ, MD

The gap between model or potential solutions and solutions that work in the real world – the translational gap — is arguably the greatest challenge we have in healthcare, and is something seen in both medical science and in digital health.

Translational Gap in Medical Science

The single most important lesson I learned from my many years as a bench scientist was how fragile most data are, whether presented by a colleague at lab meeting or (especially) if published by a leading academic in a high-profile journal.  It was not uncommon to watch colleagues spend months or even years trying to build upon an exciting reported finding, only to eventually discover the underlying result was not reproducible.

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The Fountain of the Four Seasons stands as a reminder of an artist in residence at Iowa State. Now, ISU hopes its entrepreneur in residence program will produce notable works of a different sort.

Any alumnus of Iowa State University is familiar with the work of Christian Petersen, even though it’s been more than 50 years since he set foot on campus in Ames. Petersen was artist in residence from 1933 to 1955 and left his mark by crafting 12 major sculptures for ISU while teaching and mentoring students.

Artists, musicians and writers — and the institutions where they study — have long benefited from the mentorship of artists in residence. Now, universities throughout the Midwest are applying the same formula to entrepreneurship.

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Entrepreneur

Multitasking has been one of those things, which comes to me naturally. But, I see a lot of my friends, colleagues and employees struggle with it. Whether we like it or not, “doing many things” is the need of the hour.

I manage 3 consulting projects and one startup – SocialSamosa.com along with having a life. Let me share some of the things I do to increase my productivity during work hours.

1. Make a list: It’s a great idea to note down everything on a piece of paper, or a note pad. If it’s on the list it will be done, sooner or later.

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Money

Everyone knows that that startups are risky, but they also expect that the job will be exciting and potentially very lucrative (think early employees at Facebook and Google). Yet we have all heard stories about the high turnover, unstructured work environment, lower base pay, and unpredictable expectations from the top.

Assuming you are lucky enough to get hired, what can you do to survive, and even stand out above the rest in this environment? Here are some tips from a book by Harvey Mackay a while back, titled “Use Your Head to Get Your Foot in the Door,” which work even better in a startup than they do in a bigger company:

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Cloud on the ocean

The ocean, the ground, rocks and trees act as carbon drains but are far from places where greenhouses gases are concentrated, especially CO2. A Spanish researcher has proposed human, agricultural and livestock waste, such as urine, as a way to absorb this gas.

Absorbing the large quantities of carbon dioxide and other greenhouse gases present in cities would require millions of tonnes of some naturally occurring substance. A study published in the Journal of Hazardous Materials suggests urine as a reactive. As a resource available across all human societies, it is produced in large quantities and is close to the pollution hubs of large cities.

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 Dr. Claire Fraser says that additional research with the Amish is essential.

Researchers at the University of Maryland School of Medicine have identified 26 species of bacteria in the human gut microbiota that appear to be linked to obesity and related metabolic complications. These include insulin resistance, high blood sugar levels, increased blood pressure and high cholesterol, known collectively as “the metabolic syndrome,” which significantly increases an individual’s risk of developing diabetes, cardiovascular disease and stroke.

The results of the study, which analyzed data from the Old Order Amish in Lancaster County, PA, were published online on Aug. 15, 2012, in PLOS ONE, which is published by the Public Library of Science (PLOS). The study was funded by the National Institutes of Health (NIH). (UH2/UH3 DK083982, U01 GM074518 and P30 DK072488)

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Kelley Clarke, left, celebrates at JPL as the first pictures appear on screen from Curiosity. (Los Angeles Times / August 5, 2012)

On Aug. 5, I was among those who witnessed the rover Curiosity landing on Mars in real time at NASA's Caltech-managed Jet Propulsion Laboratory. The excitement was overwhelming: The one-ton Mars Science Laboratory broke through the Red Planet's atmosphere, slowed its speed from 13,000 mph to almost zero and touched down. One glimpse of those first images from more than 100 million miles away demonstrated America's leadership in innovation.

Curiosity — the rover and the concept — is what science is all about: the quest to reveal the unknown. America's past investment in basic science and engineering, and its skill at nurturing the quest, is what led to the Mars triumph, and it is what undergirds U.S. leadership in today's world. But now, decreases in science funding and increases in its bureaucracy threaten that leadership position.

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Worldmap

The tech giants are clearly at patent war – Nokia vs. Google, Apple’s lawsuits in China, and Facebook vs. Yahoo!, etc. And international patent protection is clearly a vital part of both these companies’ defensive and offensive competitive strategies. However, not much is said about how international patent protection does or should factor into the business strategies of startups.  But we know that for many startups, their innovations are the lifeblood of their company.  As such, it is vital for these companies to protect their innovations from competitors by securing intellectual property rights.

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brain

When you watch a skilled guitarist play, it’s fascinating to see her left hand and right hand doing entirely different things, yet synchronized perfectly towards a common effort. The guitarist can perform complex tasks with many moving parts because she has a central nervous system with a sophisticated, unified brain. Her brain maintains a model of her external environment and goals within it and coordinates her hands to achieve them: One strums the strings to create the notes, the other presses the strings against the frets to set the pitch. The result is beautiful music.

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brain

You’ve read a million times what it takes to be a successful entrepreneur:  intelligence, vision, drive, perseverance, and a strong work ethic.

But while these are most often repeated entrepreneurial traits, they aren’t the only ones. Through my research I’ve come to find that there are other more surprising characteristics that most all entrepreneurs share.

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Ron Lazof is managing director of Prism Advisers, LLC and a Job Creators Alliance member.

What makes an entrepreneur? Is there a formal course of study to be followed? With today's exploding costs of a college education (multiples substantially higher than CPI and GDP growth) and the consequent increase in post graduation debt load and interest carry, is obtaining a college degree the most efficient way for the driven entrepreneur to reach for the successful establishment of a new enterprise, and the job creation that comes with it?

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Ben Horowitz, Andreessen Horowitz

It’s just another %&$! day for Dre, so I begin like this

No medallions, dreadlocks or black fists

Just that gangsta glare with the gangsta raps

—Dr. Dre, “Let Me Ride”

At Opsware I used to teach a management expectations course, because I deeply believed in training. In it, I made it clear that I expected every manager to meet with her people on a regular basis. I even gave instructions on how to conduct a one-on-one meeting so there could be no excuses.

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The student inventors have described their FastStitch suturing device as a cross between a pliers and a hole-puncher.

After a surgeon stitches up a patient’s abdomen, costly complications—some life-threatening—can occur. To cut down on these postoperative problems, Johns Hopkins undergraduates have invented a disposable suturing tool to guide the placement of stitches and guard against the accidental puncture of internal organs.

The student inventors have described their device, called FastStitch, as a cross between a pliers and a hole-puncher. Although the device is still in the prototype stage, the FastStitch team has already received recognition and raised more than $80,000 this year in grant and prize money to move their project forward. Among their wins were first-place finishes in University of California, Irvine, and University of Maryland business plan competitions and in the ASME International Innovation Showcase.

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Puzzle

As part of the evaluation process, you should have had a demonstration of the product and have a pretty good understanding of what it can do, what it can’t do and what problems it will solve. The next step is the proof of concept or POC.

First, the POC should be conducted in your environment. Accept nothing less. By bringing the vendor’s product in-house, you are ensuring that it will work as promoted. It’s the same as test driving a car—drive it in your environment.  

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growth

The Kaufmann Foundation recently noted in a controversial review in the Wall Street Journal that, of its past 20 years of investing in nearly 100 venture funds, “Only four of thirty venture capital funds with committed capital of more than $400 million delivered returns better than those available from a publicly traded small cap common stock index.” Further damning evidence cited is that fully two-thirds of compensation for general partners comes from fees, not performance (carry). These results reflect the severe challenges of scaling venture’s long-standing “hits business” in an all too elusive “grand-slam business” that a larger fund requires.

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thinking

All true entrepreneurs operate off a set of tenets that are built into their psyche, or drilled into them from training and mentors. These are represented by sayings like “You never get anywhere unless you take a chance” and “Passion and persistence are the keys to success,” Unfortunately, there are still other old, reliable tenets that don’t work anymore.

In a book a while back by Jeanne Liedtka and Tim Ogilvie from the Columbia Business School, “Designing for Growth,” the authors encourage managers to think more like designers. I assert that designers have a lot in common with entrepreneurs, since both must innovate and start a deep understanding of what their customer really wants (“customer-centered”).

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Mediocrity

I’m pretty mediocre. Particularly as an entrepreneur. I’m ashamed to admit it. Many of the readers here are great visionaries. I’m not even being sarcastic. I have reason to believe Larry Page reads all of my articles. Elon Musk prints out my articles and tapes them to his bathroom wall just in case he forgets to bring a book in there. Jerry Yang and his wife discuss over breakfast the merits of the points I bring up. You can say, “Hey, Jerry Yang should’ve accepted Microsoft’s buyout offer.” Ok, but Jerry Yang has made a few billion dollars just by getting a bunch of links together and assembling them by what category they are in. That was pretty cool back in the day. You and I should’ve thought of that.

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City

If you’ve been to cities and you’ve had enough, have you been to Paris, France? Paris is defined by a few magical characteristics – the street signs, the architecture, the street features – and a new system at Carnegie Mellon identifies cities based on their special traits.

The project describes a fairly complex algorithm that is able to find aspects from Google Street view.

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