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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.

On March 15, 1985, a Massachusetts computer systems firm registered the first .com Internet domain name.

Although didn't spark an instant gold rush, the event planted the first seed of a transformation that has changed the world into a Web-fueled digital river of news, commerce and social interaction.

Today, exactly 25 years later, life B.C - Before .Com - is already a distant memory, especially in the tech-centric Bay Area.

"Can you remember what it was like before the Internet, before .com?" said Mark McLaughlin, president and chief executive officer of VeriSign Inc. of Mountain View. "What about the next 25 years? Who can imagine that?"

VeriSign, the Internet security vendor that administers the .com registry, is hosting an event in Washington on Tuesday celebrating the milestone, with former President Bill Clinton scheduled to deliver a keynote address. And on May 26 in San Francisco City Hall, VeriSign will honor Internet innovators at a "25 Years of .com Gala" hosted by comedian Dana Carvey.

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Brian DarmodyBrian Darmody considers himself an entrepreneurial bureaucrat - and he doesn't think that's an oxymoron.

Before he became associate vice president for research and economic development at the University of Maryland, College Park, he worked in state government and hatched the idea of an economic development authority aimed solely at technology more than a decade ago.

That entity, the Maryland Technology Development Corp., known as TEDCO, has become instrumental in funding promising tech start-ups in Maryland.

The 54-year-old Darmody recently spoke with The Baltimore Sun about research, economic development and the work his department does to convert the university's work into new companies and commercial products.

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eric schmidt google APIn a post for PoynterOnline, Steve Myers reports on what one of the Google teams had to say about management and innovation in their presentation at SXSW.

Some of the lessons:

  • Set a specific goal, even if you don't know how you're going to accomplish it
  • Create a culture that promotes getting things done above all else.
  • Shield your employees from unnecessary distractions (i.e. bad suggestions from both inside and outside the organization) so they can focus on their current goals.
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Last week’s Global Entrepreneurship Congress (GEC) in Dubai was a historic gathering not only because -- under the patronage of Sheik Nahayan Mabarak Al Nahayan of the UAE -- it brought together entrepreneurship leaders from nearly 100 nations, but because it heralded a new era of global commitment to this field.

As the chair and emcee of the gathering, I was astounded by the level of bottom up commitment to entrepreneurialism from all corners of the globe. It is aptly named a Congress for it is comprised of representatives of the leaders from those nations now committed to advancing entrepreneurship as the means to build economies and expand human welfare. As a grassroots movement, the "Unleashing Ideas" network that has been created around this is becoming a powerful force not just for inspiring people to become entrepreneurs, but in guiding policymakers and opinion leaders who want to help them.

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When it comes to government investing in cleantech, the feds aren't the only game in town. 

In November of 2008, Connecticut established a $9 million Clean Tech Fund.  Geared to spark innovation in the Nutmeg State, the fund has invested just more than $2 million to date.

"We are looking for entrepreneurs at any stage and venture capitalists looking to partner with companies headquartered in Connecticut," said Patrick O'Neill, Investment Associate at Connecticut Innovations, at GoingGreen East recently. "We look for early-stage companies in cleantech -- broadly defined as any technology that conserves resources, reduces waste, or protects the environment."

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WallinCarletonBill Carleton and Joe Wallin: Senator Christopher Dodd's massive financial regulatory reform bill is back and it's even uglier than before for startup companies trying to raise seed capital. Ugly for startups?

A bill that means to address "too big to fail" and systemic risk to the financial system? Yes. And we're not talking about some indirect, attenuated, downstream effect from new regulation of big banks or Wall Street investment firms. The bill directly targets the way startups raise capital.

This "reform" occupies only a few pages in Sen. Dodd's massive bill, at Section 926, entitled "Authority of State Regulators Over Regulation D Offerings" (pages 816-819).

Under the old rules, startup companies could raise money from "accredited investors" simply and easily.

Now they are going to have to make a filing with the SEC and the SEC will have 120 days to review the filing.

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imageHelp 25 of the top high school innovators design the future! On March 29th, the Spirit of Innovation Awards challenges YOU to vote for your favorite teams and help select this year's "Pete Conrad Scholars!"

Over the past 6 months, 25 finalist teams have created real products to solve some of the grand challenges facing society. From the depths of the oceans to the edges of space, these students will knock your socks off! Piezo-electric wallpaper, robotic astronaut assistants, advanced water purification systems, and Navajo Solar "Frybread" ovens; these are just a few of the amazing products high school students are designing.

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In India, it is easier to raise two million dollars than it is to raise $200,000.

As the country’s growth story attracts more interest globally, the number of funds and the amount of growth capital available to private companies here is unprecedented.

But there are only a handful of professionally managed, genuine early stage venture capital funds - those targeting pre-revenue, unproven businesses - in India with an aggregate of about $150 million or so under management.

Organized angel investing (an affluent individual who provides investment for a startup) is a very recent phenomenon too, with a handful of companies earning only about $8 million in the last few years.

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Máire Geoghegan-Quinn, the EU's commissioner for research, innovation and science, believes that the bloc's target of spending 3% of GDP on research and development (R&D) must remain in place if Europe is to put itself firmly on the road to economic recovery.

The new commissioner acknowledged current debates surrounding the 3% R&D objective but insisted that now is the wrong time to make cutbacks in a sector that is underperforming in many EU member states.

Geoghegan-Quinn was delivering the keynote address on Friday (5 March) at the Lisbon Council's 2010 Innovation Summit, her first major speech as innovation commissioner since the European Parliament hearing in January.

Speaking about the 3% target, she said, ''I know that this is controversial. But I believe that it should stay. Research ministers have told me in clear terms that its existence has strengthened their hand in their dealings with their finance ministers […] Now is exactly the wrong moment to remove this discipline.''

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altThe DC Council recently passed a resolution recognizing the significant contributions of TBED21, Inc., an organization dedicated to keeping the District economically competitive in the 21st century, with a strong focus on underdeveloped and disadvantaged communities.

The text of the Ceremonial Resolution, introduced by At-Large Councilmember Kwame Brown, is as follows:

TBED21 Readiness Recognition Resolution of 2010

To recognize the need to ensure that the District of Columbia is economically competitive in the twenty-first century and to acknowledge the significant contributions of TBED21, Inc., in efforts to integrate policy and federal funding opportunities for the nation’s capital.

WHEREAS, the Council of the District of Columbia recognizes the need to develop a more integrated policy and programmatic agenda towards technology-based economic development that ensures the District of Columbia’s economic competitiveness in the 21st century;

WHEREAS, Technology Based Economic Development for the 21st Century -TBED21, Inc., recognizes the District of Columbia as an economically vibrant 21st century knowledge city with a diverse citizenry representing countries from around the world;

WHEREAS, TBED21, Inc. has proposed ideas to the Government of the District of Columbia, including Office of the Mayor and District agencies: Office of the Deputy Mayor for Planning and Economic Development; Office of the Deputy Mayor for Education; Office of the State Superintendent for Education; University of the District of Columbia and its Community College;

WHEREAS, TBED21, Inc. has engaged various federal agencies including the U.S. Department of Education, U.S. Department of Commerce and the U.S. Department of Labor to assist the development of a 21st century tech-based economic development agenda for the District of Columbia;

WHEREAS, TBED21, Inc. has made tremendous strides in coordinating Science, Technology, Engineering and Math (STEM) education, STEM workforce development, entrepreneurship, innovation, tech-based commercialization and entrepreneurship in the District of Columbia;

RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, that this resolution may be cited as the “TBED21 Readiness Recognition Resolution of 2010”.

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Credit Suisse logoResearch Triangle Park, N.C. — Credit Suisse will manage the new $230 million North Carolina Innovation Fund, N.C. State Treasurer Janet Cowell announced Monday at an event in Durham.

The funds are to be invested in companies that have primary operations in North Carolina.

The fund had been announced initially at being worth a total of $250 million.

Credit Suisse has a large operation in Research Triangle Park where it is in the process of adding about 300 employees, primarily in information technology, to its work force of about 1,000.

The banking conglomerate is based in Switzerland.

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Below is the list of Quotes from some of the well known Tech Gurus who has revolutionized the world of Internet by their innovation. I have collected Quotes from all over the internet but posted only those which are worth reading so go ahead and read what these brilliant minds have to say. Quotes listed include Bill Gates, Steve Jobs, Mark Zuckerberg and many others.

bill gates 45 Must Read Quotes By Famous Tech Innovators 1. There are people who don’t like capitalism, and people who don’t like PCs. But there’s no-one who likes the PC who doesn’t like Microsoft.

2. Your most unhappy customers are your greatest source of learning.

3. Be nice to nerds. Chances are you’ll end up working for one.

4. If you can’t make it good, at least make it look good.

5. We are not even close to finishing the basic dream of what the PC can be.

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