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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.

pluggedinAt the World Newspaper Congress at Hyderabad this week Dow Jones CEO Les Hinton ?took on Google and used some strong language to stir things up. He called Google a digtial vampire and a parasite. He goes on to further bash the internet content Kleptomaniacs whose business model depends on purloining the expensive journalism of mainstream media (read more about what he said over here).

The issue that i want to highlight is what gives the Newspaper industry so much courage to take on Google (Rupert Murdoch: “I think we will remove our websites from Google’s search index”). Is it foolhardy or is it based on some statistics. So here is the rub. With the rise in social media the landscape has changed dramatically. In the same conference Associate editor of Daily Mirror, Matt Kelly shared why his company is relying less and less on Google SEO. According to Matt Kelly the traffic from Google Search is now much lower than what they are getting from referrals, bookmarks and Social Media platform like Twitter and Facebook.
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New RepublicAs America struggles to get its mojo back as a preeminent center of innovation and thereby prosperity, metropolitan and national economic leaders would do well to study the case of Israel. Israel? Yes, Israel. As Dan Senor and Saul Singer make clear in their bracing new book Start-Up Nation, Israel is a country of just 7.1 million people that may well be the world’s top techno-nation, yet in a way that has huge relevance for those thinking about America’s renewal.

In the face of war, internal strife, and rising animosity from other nations, this embattled sliver of sun-baked desert has flourished as a technology hub. The country boasts the highest density of start-up companies in the world, with a total of 3,850 now operating at a rate of one for every 1,844 Israelis. In 2008, the nation attracted more than $2 billion in venture capital in 2008, as much as flowed to the U.K.’s 61 million citizens or the 145 million people living in Germany and France combined. And for that matter, some 63 Israeli companies were listed on the Nasdaq in 2009, more than from any other foreign country, including Canada, Ireland, the U.K., Singapore, China, or India. Nor have the wars Israel has repeatedly fought slowed the country down. Since 1995, Israel’s broader economy has grown faster than the average for the world’s developed economies. During this decade, the Israel’s share of the global venture capital market did not decline--it doubled, from 15 to 30 percent.
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Economic TimesMUMBAI: Economic bubbles encourage innovation but they also induce people to live beyond their means, financial experts said at a seminar
here.

"Bubbles encourage innovation but also induce people to live beyond their means," MindTree's Executive Chairman, Ashok Soota, said.

The bubbles are difficult to predict but they inevitably burst, he said.
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AMEinfoKhalifa Fund for Enterprise Development, an entity established to support and develop small, medium and developed enterprises and Abu Dhabi University (ADU), announced the initial key note line up for the Abu Dhabi Innovation Forum, scheduled to take place on January 11th and 12th, 2010 at the Shangri La Qaryat Al Beri Hotel in Abu Dhabi.

The first round of confirmed headline speakers for the two-day conference - which has been specifically designed for local businesses looking to harness the power of innovation - includes Microsoft's Regional General Manager, Charbel Fakhoury; Global Head of Mobile Marketing for Procter & Gamble, Khurram Hamid; and Head of Strategy and Partnerships at Philips Research, Dr. John Bell.
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EntovationBendis had an opportunity to convene with Global Innovation leaders yesterday in NYC, and is proud to have been added to the Entovation E-100.

The timing could NOT be more important. Worldwide, it is clear that INNOVATION is the pathway to progress – especially necessary in the current economic meltdown. People are no longer asking “If”; they are asking “How”. Fortunately we have some of the answers to those questions finally being asked.

Richard BendisNow Amidonwe – as members of a Knowledge Innovation community – have a responsibility to build some symbiosis among our own insights and make a contribution to the world dialogue. Few enterprises (or networks) have coalesced such global expertise of theorists and practitioners on innovation measurement on the micro-, meso- and macro-economics levels.

[E100 Alert] En Route to the New York – Agenda Shaping and Logistics

ForbesA new survey suggests executives are overwhelmingly looking to innovate their way to new success--and hints at how they can do it.

After the worst recession in decades, companies are not just relying on incremental change to jump-start their businesses and drive growth. Rather, they're working to develop breakthrough business models. According to a global survey the consulting firm PRTM recently conducted with 65 senior executives in diverse industries, real change to the business model is becoming popular.

In the past only a few companies experimented with new business models. IBM ( IBM - news - people ), for example, began bundling office products and services in the 1990s to provide customer solutions. And everyone knows how Apple ( AAPL - news - people ) developed iTunes to drive the sale of iPods. By and large, however, companies have followed tradition by focusing on trying to develop the next great product within their existing lines. All that is about to change.
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Business WeekAs I was chairing the first day of the Open Innovation Summit today, I was struck by something that many speakers acknowledged: Their companies converted to open innovation—relying on outsiders for their next products or services—only after falling into a crisis. Moreover, the panic struck most around the time of the previous recession in 2001, which suggests that we should start seeing many more open-innovation practitioners soon.

Among those that found religion a decade ago are Johnson & Johnson, Procter & Gamble, and Whirlpool. Others which came to open innovation more recently after moments of doubt are Rockwell Collins and the consumer-products unit of GlaxoSmithkline. As Cheryl Perkins, former chief innovation officer at Kimberly-Clark and now president of her own consultancy, Innovationedge, told us in her presentation: “Often open innovation starts with a burning platform.”
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SVIHow selflessly cool is Google? Every now and then the company removes from consideration one of its superhuman job candidates, to avoid an over-concentration of brilliance. Google, you see, doesn't want to become a black hole of awesome.

Google VP Bradley Horowitz explained things at the annual Supernova conference in San Francisco the other day. He said the company intentionally (and selflessly!) leaves some brainpower outside its walls, according to the Register.
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WSJWhen one thinks of states with entrepreneurial hotbeds, North Dakota probably doesn’t come to mind. After all, the Peace Garden State is the third least populous state in the U.S. and located in what’s often called “flyover country.”

But the government there is hoping to stir up entrepreneurial activity, recently passing a law that extends a sizable 45% tax credit to angel investors who back homegrown businesses.
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MiamiHundreds of business leaders gathered in Miami to discuss how to nurture the emerging biotech sector of Florida's economy.

Biotechnolgy research is on the rise in Florida, but the state needs to lure venture capital away from other well-known tech corridors, like Boston, Austin, Texas and the Silicon Valley in order to become an industry powerhouse.

The Greater Miami Chamber of Commerce and Gunster Attorneys at Law hosted a luncheon at Jungle Island in Miami Wednesday to spread that idea to more than 500 business leaders from around the state. Groups like the Burnham Institute for Medical Research in Orlando, Max Planck Florida Institute and Scripps Florida in Jupiter, and the University of Miami's Miller School of Medicine boasted about their accomplishments and growth forecasts and rallied the audience to collaborate to grow the sector.
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AlibabaIf you want to start strong, steer clear of these funding fantasies.

Raising venture capital financing--as a first-time founder in particular--is a difficult task, even in the strongest of financial markets. At a recent conference, a panelist opined that over 95 percent of entrepreneurs decide not to raise venture capital. The response from another panelist: "Just like over 95 percent of my friends have decided not to date supermodels." Knowing what to expect can often be half the battle. The following are a few common misconceptions entrepreneurs often have when seeking early-stage venture capital financing.
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White HouseFor the past day and a half, several Senior Administration officials and I joined leaders from the public, private, and non-profit sectors to discuss the role of innovation in achieving sustainable economic growth and quality jobs. We wish to extend our thanks to the Aspen Institute, Intel, the PBS News Hour with Jim Lehrer, and Democracy: A Journal of Ideas, for bringing people together on this important Presidential priority, reflected in President Obama's Strategy for American Innovation.
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