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.
Bring Different Innovation to Washington by Aaron Brazell
few weeks ago, I received a call from my friend Robert Neelbauer at about 11 pm. He wanted to talk about innovation and technology startups in DC. For those who live around here, you know there’s not a lot of them. Mostly project-type things that entrepreneurs who work day jobs have cooking. And of course, even though DC is home to Launchbox Digital an accelerator program in the order of Techstars or Ycombinator, there remains a dearth of Silicon Valley style startups.
Small Business Administration chief: 'We're the popular kid' by Emily Maltby
NEW YORK (CNNMoney.com) -- The economy is showing signs of revival, but in the small business trenches, companies are still struggling. Sales are down, credit is tight, and the tally of laid-off workers keeps growing. Leading the federal government's effort to shore up Main Street businesses is Karen Mills, now four months into her job heading the Small Business Administration.
Getting attention at the highest levels in Washington isn't a problem, Mills said in a recent interview with CNNMoney: "The world has changed, and everyone has realized that it is small businesses that are going to drive the economy and the recovery," Mills said. "We're the popular kid at the dance."
Innovation Is America's Key to the Future by Tudor Vieru
President Barack Obama reasserted his trust in science as the only means of averting future economic crises in his radio address on Saturday, saying that long-term investments in research were the only things that could ensure a sustainable and strong economy. Results will not be visible right away, and the fact that average citizens, and indeed investors too, want to see immediate results and returns for their money only hinders innovation. Some important research projects get little funding precisely because they could take ten to 20 years to complete, and few people are willing to take that investment risk upon themselves.
“We need to recapture the spirit of innovation that has always moved America forward. That means once again having the best-educated, highest skilled workforce in the world. That means a health care system that makes it possible for entrepreneurs to innovate and businesses to compete without being saddled with skyrocketing insurance costs,” Obama said on his radio address.
Forum held to drive green innovation and commercialization Editor: Wang Guanqun
LOS ANGELES, Aug. 4 (Xinhua) -- A two-day Green Tech Connect Forum was held from Monday to Tuesday in Pasadena, California to help drive green innovation and commercialization in the United States.
It is the first time the South Coast Air Quality Management District has ever hosted such a forum to help establish a partnership between green tech developers and investors.
Who Will Match Ontario’s $250M Emerging Technologies Matching Fund?
It’s official, the Ontario’s Emerging Technologies Fund (ETF) is now open for business. This $250-million fund will co-invest into companies in high-growth sectors such as clean technology, life sciences and advanced health technology and digital media and information and communications technology. Co-investments are made along with qualified venture capital funds and other private investors. For more information see http://www.ocgc.gov.on.ca/
How Has Angel Group Investing Held Up During the Recession? by Scott A. Shane
Angel investing — the provision of capital by individuals to private businesses owned and operated by someone other than a friend or family member — is an important part of the system of financing high-potential start-ups in the United States.
Venture-Backed IPOs Still On Hold, But There’s Promise by The Wall Street Journal
In a six-week period between May 20 and July 1, four venture capital-backed companies managed to price their initial public offerings, quite a feat considering none had done so in the previous nine months. All four priced at or above the high end of expectations and now trade higher than their pricings.
Sensing the urgency to catch the market while it’s hot (relatively speaking), some venture capital firms have scrambled to get some of their best candidates in shape to file for an IPO, several investment bankers say.
Eli Lilly’s Venture Arm Spins Out With $200M Fund by The Wall Street Journal
Lilly Ventures, the venture capital arm of Eli Lilly & Co., has spun out from its parent in an effort to compensate its members more like a traditional venture firm.
As part of the spinout, completed May 1, Lilly Ventures secured $200 million from its corporate parent to invest in new companies and to support its existing portfolio.
UK Govt's Innovation Fund Opens Up To Outside Managers by By Marietta Cauchi, Dow Jones Newswires; +44 207 842 9241; [email protected] dowjones.com
LONDON -(Dow Jones)- The U.K. Monday released invitations to outside managers interested in managing its GBP1 billion venture capital fund of funds, just one month after the Innovation Investment Fund, or IIF, was launched with GBP150 million from the government.
Biden to discuss economy, innovation in Detroit Chicago Tribune
DETROIT - Vice President Joe Biden will discuss the economy and steps taken by the White House to turn things around on a visit to Detroit.
Biden will speak Wednesday afternoon at NextEnergy.
Congress Debate Over Small-Business Funding Drags On Wall Street Journal
President Obama has signed another temporary extension for the federal funding program that provides $2 billion annually to innovative small businesses. smallbusiness_E_20090731181438.jpg
The House and Senate earlier this summer passed bills reauthorizing the Small Business Innovation Research program, which was set to expire on Friday. But the two bills differ on key issues, in particular the amount of access that venture-backed companies would have to the SBIR funds.
Obama: Investment, Innovation Will Lead to Prosperity Voice of America
U.S. President Barack Obama says America's economy is improving, but future prosperity depends on long-term investment and innovation.
In his weekly address, Mr. Obama said Friday's report showing that the gross domestic product fell at an annual rate of one percent is evidence the recession is easing, but that a full recovery will take time.