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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.

Business InsiderA lot of emphasis is placed on the importance for entrepreneurs of innovation and creating your own market. Certainly, you are better off coming up with something novel than knocking off an existing product.

But being first-to-market is far from a guarantor of success. Many major markets are dominated by products and companies that came late to the party -- sometimes very late.
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SVIMedia is not just a crotchety old man's world. Women are making a huge impact, too.

As the media industry evolves, they are leading powerful companies, launching new ventures and redefining the future of journalism. And their success stories serve as models for those hoping to make a mark in this multi-faceted, risky business.
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FortuneGovernment needs to support research for clean energy-powered cars. But auto makers need to make their own success.

America’s auto industry is at an unprecedented crossroads.

At the core of the debate is whether American car companies can adapt to a changing marketplace where the demand for greater fuel efficiency and cutting edge design supersedes brand loyalty and vehicle size.

The auto industry of tomorrow – which already is emerging – will be based on a different model. It will reward innovation. It will cater to new economic realities. It will listen to customers. The question is, will it be located in the U.S., or elsewhere?
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Mass High TechJames Geshwiler, managing director of Lexington’s CommonAngels and past chairman of the Angel Capital Association, was recognized for his commitment to funding and supporting New England startups with a 2004 Mass High Tech All-Star Award. With his experience managing the 70 investors that comprise Common Angels and chairing a much larger national group, Geshwiler is in a good position to reflect on the past year and discuss the future of angel investing. He spoke with MHT news editor Rodney H. Brown.
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I recently gave a presentation to the 128 Innovation Capital Group on raising money from angel investors. A copy of the slides is below and the video can be found here.

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VC ExpertsTel Aviv, Israel, October 21, 2009. The following are the findings of the IVC Quarterly Survey conducted by the IVC Research Center, which for more than 12 years has been at the forefront of high-tech, venture capital and private equity research in Israel. This Survey reviews capital raised by private Israeli high-tech companies from Israeli venture capital funds, foreign investors and other investors. The Survey is based on reports from 81 investors of which 44 are Israeli management companies and 37 are other - mostly foreign - investment entities.
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Silicon IndiaBangalore: It seems India's aspiring entrepreneurs are made of sterner stuff than they are credited with. If the estimates of Indian Venture Capital Association (IVCA) are anything to go by, the risk-taking capacity of Indians witnessed a surge in the wake of the economic slowdown, which was triggered by the recession.

The average seed funding size has risen to $2.5-5 million from the pre-slowdown era's average of $1.5-2 million, according to the apex organization of the venture capital and private equity industry in India. Indications are that the amount will rise further by the middle of next year, reports Times of India.
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There are few other business initiatives that rely as heavily on the "right" people as an innovation initiative. That's because unlike most other work in an organization, innovation is risky, uncertain, poorly defined and at odds with most of the rest of the work of the organization. Since there are no processes or methodologies, people play a much more significant role, and an innovation initiative will often live or die by the people who participate.
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Trend WatchWith the recent focus on innovation, it can be easy for any organization to become wrapped around building a better axle. However, innovation alone does not breed success. There is a battle brewing between the time tested practice of entrepreneurship and the requirements of the emerging innovation economy. The question is whether innovation or entrepreneurship can exist in this new environment without the other, finding the right mix, and understanding the difference. In this article, we explore the critical differences between and the many types of innovation and entrepreneurship, as well as how to find the balance between the two and your optimal mix for competitive advantage.
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Transparency: If people see what others do it generates support and peer pressure.

Greenhousing: Innovative ideas often start out as fragile little shoots that need nurturing.

Benefit focus: Keep asking what it is you’re trying to achieve – don’t just tick boxes.
Diversity: Of people, background, experience and outlook. Avoid groups of people who all think the same.

Risk-taking: Recognise risks, watch out for politics, listen to people at the sharp end.
Avoid deficiency models: Telling people they need to be there rather than here does not work.

Mistakes: It has to be all right to say, ‘That didn’t work – let’s try something else.’

Long-term planning: Can’t be done for innovation. Sensible next step is best that can be done. Then look closely at what happens and take another step.

Merlin John’s Innovators series is developing very nicely indeed, with articles to date on Ewan McIntosh, Paul Kelley, Margaret Vass, Carol Allen, Jaye Richards and John Davitt. The latest is a great piece on David Gilmour, East Lothian’s techno-boffin (sorry, David!).

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Huffington PostBeing an entrepreneur is tough... very tough. There are many reasons some entrepreneurs make it big, and others do not. Tonight I [Jim Randel] would like to speak to the organic, the personal, reasons that some entrepreneurs fall short of their promise. This is not about capital, which is a challenge for all entrepreneurs, nor about the economic climate (also a challenge). But rather about those individual characteristics that keep some entrepreneurs below their potential.
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