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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.

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The U.S. Chamber International IP Index benchmarks the IP framework in 53 global markets, representing over 90% of global GDP. The IP Index evaluates the ecosystem in each economy across 50 unique indicators which industry believes represent economies with the most effective IP systems. The IP Index serves as a roadmap for policymakers who seek to support innovation, creativity, and economic growth through more robust IP policy.

Image: https://www.uschamber.com

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Johns Hopkins Dr Amesh Adalja says new coronavirus is here to stay

Johns Hopkins senior scholar Dr. Amesh Adalja told CNBC on Tuesday that the new coronavirus will likely cause yearly outbreaks, with most of the cases being mild.

“It’s going to become a part of our seasonal respiratory virus family that causes disease,” Adalja said on “Squawk Box.”

However, he expects the current outbreak to turn into a mild pandemic and spread further in the United States. Currently, there’s only 11 confirmed U.S. cases, according to the Centers for Disease Control and Prevention.

Image: https://www.cnbc.com

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Merck to streamline business separate into two companies Philadelphia Business Journal

Merck & Co. Inc. unveiled plans Wednesday to spin off products from its women’s health and biosimilars businesses, along with certain legacy brands, into a new independent and publicly traded company.

Going forward, Merck (NYSE: MRK) will focus on its oncology, vaccines, hospital medicine and animal health segments.

Merck expects the spinoff to be completed by the first half of 2021. The pharmaceutical giant anticipates cost savings of more than $1.5 billion — primarily in areas such as manufacturing and sales staff costs — by 2024. In addition, Merck said by continuing to increase investments in its key growth drivers and pipeline assets, it is targeting operating margins to grow to more than 40% in 2024.

Image: Merck's West Point plant in Montgomery County. JOHN GEORGE

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technology

Across life sciences, a certain posture toward IT has prevailed for years: “IT doesn’t provide our business with a competitive advantage, only basic capabilities. We should therefore minimize IT expenses while maintaining an acceptable level of performance.” Budgets are aligned to plans a year in advance, and IT is regarded as a cost center. Since IT is charged to build the technology that the business asks for, it requires teams of analysts to sit between the business and developers to translate business concepts into the language of technology.

 

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money puzzle

Life sciences and biotechnology business ventures in Southeastern North Carolina could get a boost through a new competition launched Tuesday by the N.C. Biotechnology Center Southeastern Office, in partnership with UNCW's CIE.

Entrepreneurs and companies can now apply for the NC BIONEER Venture Challenge, which aims to "raise the profile, increase the volume, and enhance the success of life science commercialization, entrepreneurs, and companies in the region,” according to the venture challenge website.

The application period runs through Feb. 28.

 

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team

Although family members are often committed to the business, they sometimes lack the skills and fortitude necessary to maintain it across generations. In response, family firms are increasingly hiring non-family employees to help their businesses survive and grow. However, family firms face a challenge in this regard as they generally offer lower compensation, extend fewer opportunities for advancement or skill development, and have policies and cultures that treat non-family members differently than family members. For these reasons, family businesses frequently suffer from a human capital deficit. Therefore, a pressing question is how can family businesses attract quality non-family employees?

 

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BOSTON—Engineers working at a startup near touristy Faneuil Hall Marketplace are building chips that use laser beams instead of electrical signals to run artificial-intelligence applications 10 times faster than today’s most advanced AI computer chips, using one-tenth of the energy.

Founded in 2017 and backed by $33 million in venture-capital funding, Lightmatter Inc. is among dozens of companies gaining interest from investors and corporations because of their novel approaches to computing. They are using light, quantum physics, molecular biology and new design methods to build chips and create data-storage techniques for future computing demands.

Image: Boston-based startup Catalog Technologies Inc. recently showed it could store 14 gigabytes of data from Wikipedia in DNA molecules, which look like a few drops of water in a test tube. PHOTO: SARA CASTELLANOS / THE WALL STREET JOURNAL

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Writing Write Person Free photo on Pixabay

What story will people tell about your organization over the next ten years? Will they celebrate an enthusiastic innovator that thrived by adapting workforce skills and ways of working to the demands of the new economy? Or will they blame poor financial or operational results, unhappy employees, and community disruption on a short-sighted or delayed talent strategy?

 

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RNewImageunning an equity crowdfunding business is a lot like operating a private equity firm, but on a mass scale. Private equity (PE) firms work with accredited and corporate investors as well as corporate fundraisers or startups. In contrast, a crowdfunding platform focuses on retail and high net worth investors and startups.

A PE firm rarely works with high net worth investors, not speaking about the retail investors with low capital. This has opened an opportunity for the crowdfunding platforms to provide opportunities for retail also known as everyday or non-accredited investors to invest in the early-stage startups.

Image: https://www.business2community.com

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Business Angel Dollar Money Free photo on Pixabay

An angel investor (also known as a private investor, seed investor or angel funder) is a high net worth individual who provides financial backing for small startups or entrepreneurs, typically in exchange for ownership equity in the company. Often, angel investors are found among an entrepreneur's family and friends. The funds that angel investors provide may be a one-time investment to help the business get off the ground or an ongoing injection to support and carry the company through its difficult early stages.

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airplane

In December 2003, to commemorate the 100th anniversary of the first flight of the Wright brothers, the New York Times ran a story entitled “Staying Aloft; What Does Keep Them Up There?” The point of the piece was a simple question: What keeps planes in the air? To answer it, the Times turned to John D. Anderson, Jr., curator of aerodynamics at the National Air and Space Museum and author of several textbooks in the field.

 

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