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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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Entrepreneurs who need support to get their healthcare innovations to market are urged to act fast, as many of the opportunities outlined in the EIT Health Accelerator Invitation for Programme Participation 2017 have application deadlines of 31 March.

You can learn more about the Accelerator on this newly updated page, or look for a summary of all the Accelerator Programmes here.

 

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Dick Burke of Envoy

Amid the uncertainty surrounding immigration laws, five of the city's colleges are teaming up in an effort to help foreign student entrepreneurs stay in Chicago to build their startups.

Mayor Rahm Emanuel plans to announce this afternoon that Columbia College Chicago, DePaul University, the Illinois Institute of Technology, Loyola University Chicago and Northwestern University each will adopt global entrepreneur-in-residence programs.

Image: Dick Burke of Envoy - http://www.chicagobusiness.com

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charlotte north carolina

A growing tech industry is often considered the ultimate sign of a healthy local economy. By that measure, the Bay Area still stands at the top of the heap in the United States, but our survey of the metropolitan areas with the strongest tech job growth turns up some surprising places not usually thought of as tech meccas.

 

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SSTI

The Trump Administration’s skinny budget proposal released today calls itself, “A Budget Blueprint to Make America Great Again.” From the information contained in the document, it is clear the Administration does not view science, technology, innovation and entrepreneurship and the economic development efforts built around those activities as the path forward to making “America great again.” The program eliminations and drastic cuts are not the way to move the country forward economically. So what is behind this proposal? Two things: 1) a fight over the proper role of the federal government in the economy, and 2) a negotiating tactic to attempt to lull advocates into thinking program survival or lesser cuts are a victory. A full community response is needed and all of us must get off the sidelines and on to the playing field.

 

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Rahm Emanuel, the Mayor of Chicago, wants to take maximum advantage of the present H-1B visa program while it lasts. This is a matter of concern as President Donald J. Trump has publicly stated his intention of slashing the visa program which is used by technology companies to hire engineers, scientists and technicians. All these professionals are not found aplenty among American citizens.

 

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happy

Another year, another report saying that the Nordic countries are the happiest in the world.

Every year the UN's Sustainable Development Solutions Network releases the World Happiness Report, backed by the Ernesto Illy Foundation, which lists the happiest countries in the world. This year the winner was Norway, which follows a trend of Scandinavian countries consistently winning the title of the most content places on earth — even though they have a long, cold and dark winter.

 

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Michelle Corbet

Receiving more applications this year from startups than ever before, the Entrepreneurship-Powered Innovation Center (EPIcenter) Logistics Innovation Accelerator sponsored by FedEx is already out recruiting potential customers for the companies.

Now in its third year, the EPIcenter Logistics Innovation Accelerator received 30-40 percent more applications than it did last year; it is currently narrowing down the applicants to six companies that will participate in the 15-week accelerator and receive $50,000 in initial seed capital.

 

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Michael Bailey

Retail investors will from September be able to buy up to $10,000 of equity in their favourite business ideas, after crowd-sourced funding legislation passed the Senate.

The legislation will allow unlisted public companies with annual turnover or gross assets of up to $25 million to advertise their business plans on licensed crowdfunding portals, and raise up to $5 million a year to carry them out. Investors can put up to $10,000 a year each into an unlimited number of ideas.

 

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Laura Heller

Retailers have been advised to act like a start up and now the largest retailer in the world is doing more than that. Walmart has created an incubator to internally nurture startup businesses called Store No. 8.

The initiative was announced at the Shoptalk conference today in Las Vegas by Jet.com founder and CEO of Walmart's U.S. e-commerce business. Lore was a keynote speaker at Shoptalk's inaugural event last year and just a few month's later his company, Jet.com, was purchased by Walmart for more than $3 billion. 

 

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The University of Maryland University College is tearing itself apart -- on purpose. The university, which gets nearly all of its funding from tuition revenue, has long relied on enrolling large numbers of students associated with the military for financial stability. After teaching students at military bases across Asia and Europe for decades, the university was quick to realize the potential of the internet and became a pioneer in the field of distance education.

Image: https://www.insidehighered.com

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robot relationship

What’s going on in the information and communications technology (ICT) industry? Companies that used to thrive with clearly defined product portfolios are entering one another’s businesses. Erstwhile hardware companies such as Hewlett-Packard (HP) and Xerox have moved into software services. Software companies such as Microsoft, Amazon, and HCL Technologies make smartphones. Companies that used to offshore computer services, such as WiPro, are moving back onshore and competing through the cloud.

 

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Unless the European Commission changes its attitude, the innovation gap between Europe and the US will likely increase, and it could be overtaken soon by China, with dire consequences for living standards, warns Philip Stevens.

Philip Stevens is director of Geneva Network, a UK-based research organisation focusing on innovation, trade and health policy.

The European Commission knows that innovation is a major driver of economic growth, responsible for around 50% of US annual GDP growth, for example.

 

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