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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.

city street

Innovation. It’s a good idea, right? In fact, it’s a great idea. If it delivers value.

Hands up who’s seen those pet projects – weeks, months, years of beard-scratching over a concept. A concept that no one completely understands, and no one seems accountable for.

So why is it that innovation so often goes nowhere? Why does so much time, effort and money pour into having-a-go at innovation? I think the word itself might be to blame. Clearly people think innovation is a lofty pursuit of something out of reach, exotic, unique, the stuff of legends. They imagine that when they track this thing down and tame it there’ll be a fanfare, fireworks and fame. So, they go big. They dress it up like they’re going after the Loch Ness Monster. They assemble the team, kit themselves out and off they go.

 

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NewImage

The funding gap in the natural products industry is growing. The funds are moving up-market. As the average fund size increases, the economics warrant that the average check size does as well. That means that a brand has to be further along in terms of revenue, distribution and brand awareness before they are able to secure institutional money. 

At the same time, the industry’s most active angels are fatigued. They are getting crushed by the onslaught of inquiries. Some whom I’ve spoken with are receiving more than 50 pitch decks a month from founders who are desperate for their support. Even at their most active, these angels are likely to make less than 10 investments a year. As they find themselves buried by inquires, many have decided to make fewer but larger investments. 

Image: https://www.newhope.com

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How novel coronavirus spread across the world visual explainer World news The Guardian

The coronavirus epidemic began in Wuhan, a city of more than 11 million people and the capital of the Hubei province in China. The latest data from Johns Hopkins University’s Center for Systems Science and Engineering shows that the number of deaths from the virus has exceeded 1,000, all in mainland China with the exception of one person in Hong Kong and another in the Philippines.

Image: https://www.theguardian.com

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Why Americans Are Retiring Later Than Ever Time

Craig Ogelby worked in Pennsylvania public schools for about 40 years before calling it quits in 2007. He regretted it almost instantly. Just one month after retiring, he took a new job as a principal in New Jersey. “I really just did not think through my decision to retire,” says Ogelby, now 72 and working as a consultant. “I thought I was ready, but I soon realized that I need to continue to be active.”

Image: "I thought I was ready, but I soon realized that I need to continue to be active."—Craig Ogelby, 72, a longtime educator whose retirement lasted just one month before he went right back to work in a new school Illustration by Adrià Fruitós for TIME

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success

Laura Huang, associate professor at Harvard Business School, has studied groups that face bias in the workplace, from entrepreneurs with accents to women and people of color. She says that the best way for individuals to overcome this type of adversity is to acknowledge and harness it, so it plays to their advantage instead of holding them back. Start by recognizing your outsider status and the preconceived notions others might have about you, then surprise them by showing how you defy their expectations and can offer unique value. Huang is the author of the book Edge: Turning Adversity Into Advantage.

 

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IBM Logo

In 2019, IBM garnered more U.S. patents in 2019 than any other company in any previous year (9,262, to be exact). The true significance, well beyond the numerical milestone, is what this figure says about the values and culture of the company and its people. 

Patents are an important marker for gauging the creativity and innovation of scientists, engineers, designers and makers of all types. They’re not the only measure, of course. We innovate in multiple ways—when we push the frontiers of science and technology and publish the results, when we contribute to open-source projects, when we create new products and services, and when we pioneer new business models.

 

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NewImage

Combining data with expert analysis, this first-ever Trends in Entrepreneurship report translates rigorous academic research to ensure findings are actionable for the broader entrepreneurial community, aiming to inform practitioners’ decisions and encourage further exploration of research topics by scholars.

This summary provides a brief overview of the full report, touching on key topics that drive conversations throughout Frontiers in Entrepreneurship conference sessions. Our aim for this integration is to stimulate additional discussions among attendees that will help identify new areas to be explored and innovative questions to be answered.

Image: https://frontiers.unc.edu/

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innovation

At the core of every business is the need to solve problems. And when it comes to solving problems, the old saying still applies: Two heads (or more) are better than one.

That’s the simple idea behind open innovation, a process by which one company presents a challenge and invites others to participate in finding marketable solutions. It’s not a new concept, but in a time when rapid technological advancement has become key to our survival, I’m convinced that this type of intercompany collaboration will be increasingly essential to business success and social progress.

 

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virus

BEIJING: The incubation period for the novel coronavirus could reach 24 days in rare cases, recent research has found.

The median incubation period is three days, lower than the estimated 5.2 days, according to research by Zhong Nanshan, a prominent scientist who is leading a government-appointed panel of experts helping to control the outbreak.

 

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london

As concerns about geopolitics, demographics and climate change rise and technological advances redefine established city hierarchies, the attention of citizens, businesses, investors and policymakers is turning toward a much broader set of criteria when thinking about the next place to live, invest or do business.

As a result, the factors contributing to a city’s success are shifting from pure economic prowess to softer urban attributes such as how cities build a customer service culture, foster urban experiences, innovate and achieve sustainability.

 

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NCC PDI Pediatric Medical Device Pitch Competition Deadline Extended Children s National Hospital

WASHINGTON – The National Capital Consortium for Pediatric Device Innovation (NCC-PDI) announced today that the application deadline for its annual “Make Your Medical Device Pitch for Kids!” competition is extended one week to Feb. 22 at midnight EST. Innovators and startup companies with devices in the pediatric cardiovascular, orthopedic and spine, or NICU sectors are invited to apply for a share of up to $250,000 in FDA-funded awards and access to a newly created NCC-PDI pediatric device accelerator program led by MedTech Innovator. Applications are being accepted now.

 

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