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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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After months of anticipation, the just released draft paper Return on Investment Initiative to Advance the President’s Management Agenda: Unleashing American Innovation signals that the Administration is serious about addressing a wide range of long neglected issues undermining effective technology commercialization. The paper, generated under the leadership of Commerce Under Secretary Walter Copan, who heads the National Institute of Standards and Technology (NIST), is “a discussion document”  based on feedback from a series of public meetings and written comments for improving the return on investment from $150 B spent annually on government-supported R&D.

Image: Walter Copan, Under Secretary of Commerce and Director of NIST.

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confidence

What happens to people who are overconfident? Are they generally rewarded, promoted, and respected? Or do we distrust them and avoid collaborating with them? Our research suggests it may depend on how they express confidence.

One way people express confidence is verbally. We make specific, numeric expressions of confidence in our judgments, such as when making probabilistic forecasts (e.g., I’m 90% sure), or when estimating our performance relative to others (e.g., I’m in the top 10%). Much of the research on overconfidence looks at verbal expressions of overconfidence, because these can more clearly be compared to actual performance and outcomes.

 

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city crowd

A research paper from Wharton takes a step closer to answering that question by looking at trade secrecy laws and what’s called the inevitable disclosure doctrine. They found that employer-friendly trade secrecy regulations, such as delaying workers from moving to a competitor, do dampen innovation. But not for the reason that current academic literature thinks.

 

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genes

The most common analogy used to compare the science of DNA to other industries is that of computer software. DNA can be viewed as a series of commands (genes) that are coded in four nucleotides (represented by A, G, C, and T). Those letters are interpreted by the cellular machinery to produce cell products like enzymes, proteins, and various building blocks of the cell itself. This code somewhat parallels the “machine language” of computers. Computer’s lists of commands (coded in zeros and ones) are interpreted to work with numbers or any type of information that is converted to numbers (like audio, video, or sensor data). Resulting numbers generate numerical output for machinery such as screen displays, motors, tools, robots, digital controls, etc.

 

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This is the third article in our series on the details of the Amazon incentive agreements with Virginia, New York and Tennessee. The state of Tennessee has offered a package of grants and tax incentives with a projected value of $102 million for an Operations Center of Excellence in Nashville that will manage customer fulfillment, transportation and supply chain functions.

Image: https://smartincentives.org

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executive

Typically, the gig economy conjures up images of millennials juggling multiple jobs in the creative economy or working as taskers. While millennials may be the de facto face of the gig economy, it would behoove senior-level executives to realize that giggers are far more diverse than most people think.

In early 2018, Prudential released a study on the gig economy. The results of the study revealed that while millennials may be somewhat more likely to gig, Generation Xers and Boomers are also well-represented in the gig economy.

 

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Akarsh Dhaiya

As the tech ecosystem in the Asia Pacific is still nascent, most entrepreneurs who fundraise for their startup are doing so for the first time. Unfortunately, for as much as local headlines celebrate the latest fundraising news, there are comparatively much fewer resources that give guidance on successfully navigating the world of venture capital in the region.

 

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Great Wall of China

Chinese start-ups have attracted more venture capital funding than their US counterparts for the first time, according to a report from information and data provider Preqin and graduate business school INSEAD.

The report said that in the first half of 2018, $56 billion was invested in China-based early-stage companies, compared to $42 billion in the US during the same period.

“China’s emergence as a hub of innovation and entrepreneurship has been the major venture capital narrative of the past five years,” Christopher Elvin, Preqin’s head of private equity, said in a release.

 

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checklist

Most people, when tasked with remembering something important, jot down a note. But a study published recently in the journal Experimental Aging Research says there may be a better way to keep memories fresh: draw a picture.

Drawing works your brain in ways that writing alone does not, forcing it to process visual information, translate the meaning of a word into an image and carry out a physical act all at once, says study co-author Melissa Meade, a doctoral candidate in cognitive neuroscience at the University of Waterloo in Canada.

 

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Research universities rely on government agencies for funding, but the latest word on those agencies’ science policies doesn’t reach campuses instantly. That’s why a few universities have created senior leadership roles dedicated to communicating between Capitol Hill and campus research laboratories. "You can’t really have a loud bell go off and have everybody change their behavior across the country" in response to new policy directions, says Keith Yamamoto, who three years ago became the University of California at San Francisco’s first vice chancellor for science policy and strategy.

Image: Keith Yamamoto - https://www.chronicle.com

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Something exciting is happening in Canada, and the whole world is playing a part. The country is emerging as the world’s leading technology incubator, sparking important advances from a range of companies and other institutions and attracting new investment from around the world as companies seek to take advantage of a supercharged innovation ecosystem.

Image: http://www.areadevelopment.com

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