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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.

Anonymous person near neon exit sign Free Stock Photo

I know the word you are thinking of. But, actually, the word is ‘exit.’

Many have tried to explain venture capital (VC).

For entrepreneurs, VC is hope in a check. They hope that VCs like their idea (hence the fascination with Shark Tank) and hope that VCs will fund them, guide them and make them rich. Unfortunately, these hopes are misplaced most of the time. As I have noted before:

  • VCs invest in 100/100,000 ventures and fail on 80 
  • VCs invest after Aha, when potential is evident. Pre-Aha, entrepreneurs are on their own 20 
  • VCs are said to account for about 95% of VC profits. Your odds of getting VC from this small list are next to nil. And the odds of becoming wealthy are even smaller as the average failure rate is 80% for VC-funded ventures and only 1% are home runs.

 

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Donna Fuscaldo business com

Venture capital isn't only for high-flying tech startups. It's a viable option for small businesses in every industry. That doesn't mean raising venture capital is easy to accomplish; only a small percentage of startups are successful each year. But if you meet certain criteria, and play your cards right, you may be able to pull it off.

 

Editor's note: Looking for the right loan for your business? Fill out the below questionnaire to have our vendor partners contact you about your needs.

 

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money

The flow of venture capital in 2020 has been surprisingly strong given the year’s general uncertainty, but while investors have showered plenty of dough on growth-stage companies, seed-stage startups are down 32% last quarter compared to the year before.

There have been plenty of recent conversations about alternative funding routes for founders, and one of those oft-overlooked paths has been equity crowdfunding. While crowdfunding platforms like Kickstarter push consumers to back unrealized projects in exchange for products or other services, equity crowdfunding allows consumers to actually invest cash and receive a piece of the company. It’s not a conventional path, but it can be a viable option for companies that have a close relationship with an engaged customer base.

 

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NewImage

Every startup and every new business needs a unique selling proposition (USP) to get people’s attention these days, and make it stand out in the information overload we all see. Your concept has to be understood by customers and investors in 30 seconds or less, and everyone needs to immediately see how awesome it would be, or that they would be nuts not to have it.

Image: https://blog.startupprofessionals.com

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Reflections on the Impacts of the Bayh Dole Act for U S Innovation on the Occasion of the 40th Anniversary of this Landmark Legislation

It’s an honor to be sharing a virtual stage today with Senator Bob Dole and with Chris Bayh in celebrating the 40th anniversary of the passage of the Bayh-Dole Act.  I’d like to thank the Bayh-Dole 40 Coalition members for their tireless advocacy as champions for the enduring impacts of this seminal legislation.

40 years ago, Senators Birch Bayh and Bob Dole had a shared vision – that innovations arising from federally funded research could have monumental economic and societal impacts for American citizens.  They led the bipartisan charge in writing the Patent and Trademark Law Amendments Act of 1980, which today is widely known by their names – the Bayh-Dole Act.

Image: https://www.ipwatchdog.com

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parents

Home again ... It’s not your fault. Downsizing, the global health crisis, injury or accident, brutal divorce, or simply that your parents are needing YOUR support. Whatever the reason us independent and modern adults find ourselves living with our parents after 35… it sucks.

Why? Let’s list a few reasons, to stay on the same page:

Lack of freedom. I don’t know about you, but my parents mean well when they ask “where are you going?” or “what’re you doing?” or “when will you be home?” Srill, I find myself living within their hours, trying to get home before they get to bed so as not to disturb them and sneaking out when they are at work so I can get private errands taken care of. 

 

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VC training can't replace real-life experience PHOTO BY PIXABAY FROM PEXELS

Venture capital has become somewhat romanticized over the last few years, thanks to its involvement in the tech start-up sector, an influx of private capital, and its association with various well-known and celebrity investors in the media. As such, its increased profile, combined with a certain mystique, has made it an increasingly attractive choice amongst individuals looking for an exciting and varied career. And as more people look to break into the sector, new training programs are emerging, promising to give them a head start.

Image: VC training can't replace real-life experience PHOTO BY PIXABAY FROM PEXELS

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mistake

How do you prepare yourself for what might be a large, perhaps even life-changing, disappointment? Is it better to think it through ahead of time? Or do you just end up wasting energy and causing yourself anxiety when you can’t know the outcome yet anyway? The first thing you need to do is ask if worrying really helps. If your anxiety motivates you to take action that can affect the outcome, then it might be useful. Worry can also compel you to gather resources – such as social support – to help you stay resilient if the worst-case scenario comes to fruition. But you should balance any agonizing with some sense of hope, as long as you aren’t overconfident that things will go your way. Definitely don’t wallow in misery. You can’t prepay your pain. And if you have trouble quelling unhelpful, negative emotions, try distracting yourself with something fun or meditative.   close

 

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SEC Logo

The US Securities and Exchange Commission (SEC) voted on Monday to raise the limits on Regulation Crowdfunding offerings from $1.07 million to $5 million in an effort to support entrepreneurs and emerging businesses.

The SEC aims to expand investment opportunities as the amendments will promote capital formation. The commission plans to simplify the overly complex exempt offering framework.

 

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In Depth a new podcast from First Round Review

In more than 15 years of early-stage investing, our team has backed hundreds of companies, met with thousands of founders and kept a laser focus on doing everything we can to help small startups make it big.

As an extension of that work, back in 2013 we started First Round Review, where we share long-form stories on how tech entrepreneurs can build better companies. When we started The Review, we had two goals: 1) to share the advice that usually only gets passed down through one-on-one coaching sessions, and 2) to make sure readers walk away not with high-level, generic advice they’ve already heard before, but instead unique, incredibly actionable tactics they could use today.

Image: https://review.firstround.com

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Bayh Dole Act Don t give up on bipartisanship even in 2020 Fortune

This Election Day, many Americans are wondering whether bipartisanship is even possible anymore.

For the millions suffering from cancer and other debilitating diseases, I hope so. Because 18 years ago, when I faced a deadly diagnosis of non-Hodgkin lymphoma (NHL), bipartisanship laid the foundation that gave me my life back.

The treatment that saved me resulted from years of research that would have amounted to nothing without the law authored by two senators, Indiana Democrat Birch Bayh and Kansas Republican Bob Dole, in 1980.

Image: Senators Birch Bayh and Bob Dole at the U.S. Capitol on Feb. 21, 1978. The Bayh-Dole Act has helped private drug companies bring government pharmaceutical research to market—saving lives, writes Betsy de Parry. JOHN DURICKA—AP IMAGES

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Johnson Johnson Innovation Announces Launch of JLABS Shanghai in Collaboration with Shanghai

Keeping kids safe at home is more important than ever – including safely storing medicines. Especially, as many families are living a new normal with children spending more time at home due to the pandemic.

Every hour in the United States, 5 children under age 6 are rushed to emergency departments for medication poisonings, many due to unsafe storage practices. There has been a 142% increase in prescribed medications over the past two decades. At the same time, an aging population and drastic increase in three-generation households, kids living with their parents and grandparents, are likely contributing to approximately 200,000 children visiting emergency departments each year due to adverse drug events.

 

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