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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.

VCs hammer entrepreneurs: dreaded “down rounds” surge by Matt Marshall

Venture capitalists have tightened the screws on entrepreneurs, scooping up much larger chunks of ownership of companies in return for investments.

During the second quarter of the year, VCs pushed company values down 46 percent of the time when they invested, when those values are compared to the value of the company’s previous round. That valuation is used to determine how many shares VCs get from the company in return for their money. The lower the value, the more ownership VCs get, and the less is left for entrepreneurs. The “value” is negotiated between the VCs and entrepreneurs at the time of the deal.

UAE amends company formation law in bid to boost competitiveness, entrepreneurship by Business Intelligence Middle East

UAE. The UAE has amended a law that required limited liability companies to invest at least AED150,000 (US$40,800) as start-up capital in a bid to boost growth and 'leverage the UAE's standing as a highly competitive economy,'WAM news agency reported.

Partners in limited liability companies “will determine sufficient capital requirements” for setting up their companies, WAM said, citing a decree issued by President Sheikh Khalifa bin Zayed Al Nahyan.

Have Innovation and Entrepreneurship Found Solutions for Affordable Housing? by Joe Qian

The recently elected government has recently announced an ambitious goal of eliminating slums in India in its most recent five year plan. Will this be a possibility? If you ask the construction companies, the answer is yes. A number of entrepreneurs and enterprises have embarked on new initiatives to provide affordable housing called such as Tata and its construction of Shubh Griha north of Mumbai.

White House tells agencies, think 'open innovation' by Patrick Thibodeau

The White House is telling its agencies to pursue an "open innovation"-approach to government, be visionary in their spending requests, and focus on "transformative" projects that help the climate, energy, life expectancy and the economy.

President Barack Obama's administration wants federal agencies, as they prepare the 2011 fiscal year budget, to shift spending away from "lower-priority areas" to forward-looking projects. The 2010 fiscal year begins Oct. 1. A budget for 2011 will likely be submitted in early spring.

The Economist announces innovation competitions for energy and media

Finalists to present to an audience of top executives at Economist Event


The Economist is holding two innovation competitions to find the most exciting, game-changing innovations that will have a marked impact in two key areas: new media and energy. Twelve finalists will be invited to present their innovations at Economist Events to an audience of top executives in the field, and will receive complimentary conference registrations (value at up to $2495). The winning presenter will receive exclusive bragging rights and a free subscription to The Economist in the format of his or her choosing.

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No Such Thing as Riskless Venture Capital by L. GORDON CROVITZ

Just when the economy needs risk-taking the most, risk-takers are under the most threat. The Treasury now wants venture-capital firms declared as systemic risks and put under tight restrictions as part of the broader re-regulation of financial firms. Venture capitalists argue that since they don’t use debt and their firms are comparatively small, they shouldn’t come under rules designed for highly leveraged, too-big-to-fail banks.

Eyes on the Future 2009 Economic Summit to feature Richard Bendis by Lee Drake

Last December, Richard Bendis lead discussions with the Obama transition team on government funding for entrepreneurism and job growth. This fall, Bendis will headline Eyes on the Future 2009, a Greater Rochester Region Economic Summit, to help guide a conversation on the area’s economic outlook.

The third annual conference will take place on Friday morning, October 16 at St. John Fisher College. The summit’s lead organizations, Greater Rochester Enterprise (GRE) and the Small Business Council of Rochester, (SBC) an affiliate of the Rochester Business Alliance, will also host the first ‘Eyes Expo,’ a business and career event focused on economic development and workforce alignment.

A Short History of Innovation in the United States by

The U.S. has been the most innovative country in the history of world. “Virtually every major development in technology in the twentieth century – which was far and away the most important century in the history of technology – originated in the United States or was principally industrialized and turned into consumer products here.”[1] The economic success of the U.S. is due to its technological innovation. The first colony was only possible because of two new technologies – the full-rigged sailing ship and the joint-stock company. This inventive spirit has continued to the present with the Information Age, which was founded in the U.S. and based on the internet (ARPANET) invented in 1969.

What it takes for a small manufacturer to make it by the Manufacturing Institute, National Association of Manufacturers

Small and medium-size manufacturers (SMMs) must commit to innovation and new ways of doing business -- in products, processes, technologies and strategies -- that free up assets and open up selling opportunities. A focus on innovation will keep you from becoming a stagnant operator (incapable of improvement) or a commodity player (always under price pressures).