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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.

Current Misconceptions of Innovation: Time to Paint by the Numbers

Innovation is such a broad term, and can be used in so many ways, that it is hard to pick out the top five misconceptions, let alone focus on the biggest one. Is it the battle between the innovation process people and the innovation creativity people? Is it the use of consultants to support one-off innovation projects rather than investing in organization-wide innovation capacity? Is it the impending IT stampede towards innovation software tools, with the likely neglect of the human beings needed to support the process? Or is it the persistent view that companies are 'close to the customer' when in fact they are about as close as a Hollywood star to a burning car on a movie set?
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CNNLondon, England (CNN) -- Coming up with brilliant, game-changing ideas is what makes the likes of Apple's Steve Jobs so successful, and now researchers say they have identified the five secrets to being a great innovator

Professors from Harvard Business School, Insead and Brigham Young University have just completed a six-year study of more than 3,000 executives and 500 innovative entrepreneurs, that included interviews with high-profile entrepreneurs including Amazon founder Jeff Bezos and Michael Dell, founder of Dell computers.
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Thanks to social media, you can’t really ignore your competitors like you used to. I mean, you can, but it’s a lot more obvious that that’s what you’re doing. You’re both on Twitter. You’re both on Facebook. You’re both using the same tools and communicating in the same space to a very similar group of people.

So how do you handle competitors in this new world? You embrace them and build your business by promoting your competitors, opening the doors to new alliances, potential partnerships and the knowledge that you make one another stronger.

I know, it sounds crazy and all new-agey, but it’s really quite simple. How can you build up your own business by promoting a direct competitor? Here are a few ways.
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BEIJING, Nov. 26 (Xinhua) -- China's central government Thursday announced it is to join local governments and private investors in a pilot program to facilitate venture capital funds for innovative and high- technology industries, and industrial restructuring.

The National Development and Reform Commission, the country's top economic planning body, and Ministry of Finance announced in a joint statement plans to create venture capital funds in accordance with the central government's call to promote development of innovative businesses with growth potential.
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Last week the Association of American Universities (AAU), the Association of Public and Land-grant Universities (APLU), and the Science Coalition launched a new Web site, ScienceWorksForUS, to track academic research funded through the American Recovery and Reinvestment Act (ARRA). The site will allow the public to search a database to see which universities have received stimulus funding and to learn about the research that is being conducted at those campuses. The White House also continues to track stimulus spending at the Web site.

BWInnovate. Innovation. Innovative. These words get thrown around a lot these days. As far as our organization’s self-image is concerned, we’d all like to think of ourselves as innovative. After all, it implies a progressive, forward-thinking view of the world and a willingness to challenge the status quo and embrace evolution (and the occasional revolution).

Reality, however, often tells a different story. While it’s convenient to tack on the word "innovative" to our marketing materials, actually cultivating a culture and value system of innovation is easier said than done. Every company with even a semblance of success faces a harsh reality: the gravitational pull of success tends to make us change less and not more. Oddly, companies often need to be in serious trouble to start to think innovatively.
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Many opportunities are on the horizon, if you know what to look for.

Many people have high hopes that the green movement will create many new businesses and jobs. One very important aspect of any economy is small businesses, and the green economy is no different. Green entrepreneurs will lead America by creating the jobs of the future.
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Business angels in South Africa received a much welcomed boost in the form of a great article published in the business report this month. Carien Engelbrecht argues that business angel groups in South Africa should be given tax breaks on money invested into new and growing business.

The report and recommendations make an enormous amount of sense. The small business sector created both jobs and income for the country, in many cases also ensuring an inflow of foreign currency. As the government has always been clear on their support of the small business sector through making available numerous grants and funding initiatives as well as creating bodies like SEDA and the IDC amongst others to support entrepreneurs, this will be a step in the right direction. If cash rich individuals or groups are prepared to risk their money to create jobs, income opportunities and revenue for the country as a whole then surely they are in part supporting what the government is setting out to do. Its a real win-win!!
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As this weekend’s Summit on the Global Agenda came to a close this morning, I was left with an abiding impression of a looming yet largely hidden potential crisis in global security and prosperity: A failure to develop and use technology innovation effectively in serving the growing needs of society.

The summit set out to address a multitude of challenges to “improving the state of the world” (as the World Economic Forum tagline goes), and identified many innovative solutions to overcoming them. Yet in many cases there was a disconnect between the ideas and their effective implementation.
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Lending Institutions and hedge funds have dried up. Scams like shelf corporations and platform based funding are on the rise so where can an entrepreneur turn to raise capital? It’s sad to be faced with the reality that legitimate fund raising methods have fallen into a minority position in today’s depressed economy.

Company owners still need expansion capital, start-up companies need seed capital, how can the owners of these companies bypass the learning curve set in place by the online scammers and find the legitimate ways of raising capital? There are two solid ways of raising capital that are supported by the SEC and can have you raising capital without the drawbacks of dealing with people that just want to take your money and run, Private Placement Memorandums and OTCBB.
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Fast Company executives have the command and control management style. That is the dominant style which they have learned (and copied) from their bosses and that is the style with which they grew up in the organization. Although many would say that they are not applying that style, the day-to-day practice proves otherwise. That is quite natural. In times of a crisis we fall back to the behavior with which we are most comfortable.

However, both command and control are totally not working anymore in the modern workplace.
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Bankok PostThailand must restructure its economy to cope with demands from the post-crisis world economy, says Narongchai Akrasanee, MFC Asset Managements chairman.

Thailand needs to focus on developing its logistics system, particularly water and rail systems, Dr Narongchai said speaking at the MFC Finance Forum yesterday.
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