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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.

Inventiveness and Patents Do Not Equal InnovationFew things infuriate me more than supposed experts who make statements along the lines of “patents are critical to innovation.” I have avoided stating my views widely in this forum because I didn’t want to get into a contest of one upmanship with my patent lawyer peers. However, in the last couple of weeks, several pieces of information have hit my radar screen that make this seem like the right time to go public with my views.

Let my position be very clear: we create a false dichotomy when saying “innovation is not possible without patents.” The issue is much more complex and nuanced than this: in a particular instance, patents may be critical to innovation, but they might also be only slightly important or–likely in the majority of situations–they might be wholly irrelevant to innovation. (I talk more about this in this recent interview in Innovation Management Magazine.) Unfortunately, where you stand also depends on where you sit, and sitting behind a desk writing or examining patents may color your belief that patents are the cure for America’s innovation ills. (The cynic would likely note that relying on a patent practitioner or the Commissioner of the US Patent Office for an assessment of whether we need more patents is akin to “putting the fox in charge of guarding the hen house, but I digress. . . .”)

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Deborah Perry Piscione, founder of Betty Confidential.comIn a just-published New York Times article, Pamela Ryckman explores whether the most financially successful West Coast women, particularly those in Silicon Valley, are more entrepreneurial than their East Coast counterparts — and, if so, whether something can be done about that disparity.

Deborah Perry Piscione, who raised $5 million from a single female investor to finance her production company and Web site within 18 months of moving from Silicon Alley to Silicon Valley, believes West Coast women are in fact more entrepreneurial. She said she was amazed by the “big group of incredible, fearless women” she met once she moved west. Meanwhile, back east, she said, “There are all these women who made tons of money and now are not doing anything with it.”

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 The WSJ offers Cuts Reach Campus Oasis, by Joel Millman today, and provides an interesting view on a region (the Idaho/Washington border where two major land-grant schools, Washington State University and the University of Idaho, sit 8 miles from one another) dependent on higher education and it success, yet just beginning to really integrate the benefits of the campus ecosystem with the broader region and private economy. The traditional campus oasis.

Millman explains that the recession has meant a 20% decrease in funding for both schools and for the first ever time at WSU, revenue from tuition is greater than state appropriations.

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pc-business-networkingI often recommend business networking as the most effective way for a startup founder to find investors, advisors, and even key executive candidates. But what if you are an introvert, or new to this game, and don’t know where or how to start?

I have learned over the years that there is an etiquette to this process, just like there is for social networking. Here are a few of the “do’s”:

  • Post your profile on LinkedIn and Twitter, and join in relevant discussions. There are other networks that also work, depending on where you are in the world, like Ryze, Plaxo, and Facebook, but setting up an account on MySpace probably won’t help you.
  • Join and actively participate in local business organizations. Business groups like TiE-The Indus Entrepreneurs and EO-Entrepreneurs Organization are places to meet people you can help, as well as people who can help you. Remember it helps to give a little to get something back. Another place to start is the local Chamber of Commerce.
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Every once in a while I start to feel like I’m taking myself  a bit too seriously and I have to slip in a more cheeky post.  But to every jest there is some truth.  So here’s what really winds me up ….

It OUGHT to be really obvious how to create a proper tag for a conference, but my observation is that 98% of conferences suck at name tags.  Maybe more.  It makes networking much more difficult / awkward.  And it’s so damn solvable – no rocket science degree required.

It completely baffles me, actually.  I would think these suggestions would be a BGO (blinding glimpse of the obvious, for those TLA fans) but I guess not.  If you agree with me, please forward this post to people organizing conferences to save us all the future hassle.

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Before you send your first tweet you need to make your Twitter account look like someone who's serious.

Upload a Photo of Yourself

You can also use a photo of your business, product, or other image that is representative of what you do, but it will never be quite as successful as a photo of yourself.

People connect to other people. They respond emotionally to another human face. It doesnʼt matter what you look like, as long as youʼre real.

Write a One Line Bio

Are you a private detective? If so, say it. Do you sell pumpkin carving kits? Say it. Whatever you do, you're automatically an “expert” in that niche in the eyes of the world, even before you open your mouth.

Include a Location

Like a face and a bio, a location makes you into a real person and not just a troll living under a bridge or in a basement somewhere. If you're uncomfortable giving exact directions to your home or office, be general. If you donʼt want to say that you live in San Diego, Southern California is good enough.

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The European Trade Association for Business Angels, Seed Funds, and other Early Stage Market Players – EBAN - is proud to present the “EBAN White Paper – 2010: Early stage investing: an asset class in support of the EU strategy for growth and jobsa recipe for the EU to become one of the world’s most dynamic early stage investment markets". The publication includes policy recommendations aimed at supporting the growth and professionalization of this asset class in support of young innovative companies throughout Europe. 
 
"It is now even more important that we stimulate new angel investment for our high growth start up and early stage SMEs as our economies come out of recession. I therefore recommend this document produced by EBAN dedicated to all policy makers and Government's across Europe as a call to action." says Anthony Clarke, EBAN Chairman Emeritus and Leader of the Policy Committee at EBAN. 
 
Most of the topics covered by the White Paper will be discussed during EBAN's Annual Winter University 2010 "Early stage investing: an asset class", the annual Winter gathering of the European  early stage investor community to take place this November 18th and 19th in Sophia Antipolis (Nice) France. For more information about this event please visit: http://winteruniversity2010.eban.org/

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PHILADELPHIA--(November 11, 2010) – Avid Radiopharmaceuticals’ acquisition by Eli Lilly and Company for up to $800 million is yet another example of the University City Science Center’s role as an engine of economic growth for the City of Philadelphia and the Greater Philadelphia region.

“Not only does the acquisition speak to the enormous potential of Avid’s technology, but it also cements both the Science Center’s role as a launching pad for new game-changing technologies and the Greater Philadelphia region’s strength as a life sciences cluster,” says Science Center President & CEO Stephen S. Tang, Ph.D. “We look forward to Avid’s continued presence on the Science Center campus for years to come.”

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Helen Reddy's iconic "I am woman, hear me roar" is more likely to cause a cringe than goose bumps these days - more a comical anthem to bra-burning histrionics than the soundtrack to a serious movement aimed at greater equality.

But when those same sentiments are voiced by a young Afghan woman named Fatima, who has created her own construction business amid war, corruption and a culture that barely tolerates women, one is more inclined toward the goose bump.

"Every morning, I stand in front of the mirror and say, 'I am a woman and I am powerful,' " she told a luncheon gathering in New York. Hosted by Daily Beast founder Tina Brown, the luncheon was in honor of four Afghan women, including Fatima, who are recent graduates of Goldman Sachs's "10,000 Women" business program.

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business-strategy-chessAll too many startups are founded simply on the basis of a new and exciting technology invented by an industrious technologist. This is the origin of the “solution looking for a problem” and “if we build it, they will come” syndromes, which result in surprise and frustration waiting for funding, and waiting for customers that don’t materialize.

The right approach is to start by solving a problem causing real pain to a large number of customers willing to pay real money for a solution. Develop the solution with your technology, and develop a strategy to maximize your impact in the marketplace. I’ve talked about the solution part several times, so this article will focus on the value of a strategy.

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Penguin Board of DirectorsAn effective blog post requires more than just good writing.  It requires visual interest. An intriguing photograph can reinforce the blog post’s subject matter.  It can also add a depth of rich interest and comprehension to a blog post.

Here at Small Business Trends, we’re business people and writers, not artists or photographers.  So adding visual interest to blog posts is something we’ve had to learn — it doesn’t come naturally to us.  In fact, we’re still learning about how to add visual interest.

One lesson we’ve learned is to use images with emotion in blog posts.  So I’d like to share a little of what it means to add images with emotion to blog posts, and demonstrate how that can make a difference.

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If you’ve ever needed to create a simple banner ad, you might want to try one of these six online tools.  Each of these tools offers an online banner creation service, most free, but some have premium options if you want to upgrade.

As with many things that are free in life, there’s a catch: Most of these sites want your e-mail address.  You also have to put up with annoying sites or special offer popups.  But stay focused and you’ll find all of these  sites offer value and a speedy result.  Whether you are pleased with the result or not is a matter of taste — but the price is hard to beat on these tools.  So let’s get started:

Bannersketch is a totally free banner creation service that amazed me with its directory of free templates. The actual service and process was pretty easy, but I could not get it to change the color of the text in the ad–thus, as you’ll see below, white text on a light background. Not very easy to read.

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jeremie berrebi kima venturesKima Ventures is an international seed fund that launched this year with the goal of investing in 100 startups in two years. How are they doing? Well, they've invested in 42 companies so far and have raised their goal to 200 startups. They're part of the new wave of super angel funds that is taking France by storm, but they invest all over the world, including in the US.

The fund is the brainchild of Xavier Niel, the self-made billionaire founder of Free, France's biggest independent ISP, and new part-owner of Le Monde, France's most prestigious newspaper, and of Jeremie Berrebi, a French-Israeli serial entrepreneur.

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burger-king-franchisees.jpgEveryone's looking for a bargain these days--including would-be franchisees. If you're among those who want to dream big without spending big, never fear. There are plenty of businesses that can be started for less than $50,000, and this is just the place to begin your search:

Entrepreneur's list of the Top 100 Low-Cost Franchises for 2010 >>

The ranking includes many of the usual low-cost suspects: Tax services, including the No. 1 franchise on our list, H & R Block. Commercial cleaning, which dominates the list with 14 companies. And real estate companies that keep costs low by allowing existing real estate businesses to convert to their brand.

But there's plenty of variety as well--everything from dance fitness classes (Jazzercise, No. 6) to youth sports leagues (I9 Sports, No. 44) to outdoor advertising (Billboard Connection, No. 58).

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women entrepreneursI often get asked the age-old question (by men) of “Who are the best entrepreneurs, men or women?” Women already believe they know the answer, so they never ask. I always try the diplomatic answer of “It depends,” but that doesn’t satisfy anybody.

First, here are a few facts to set the stage. Only one in four companies in the USA today are run by women, but the number of female-owned firms is growing twice as fast as all businesses. Overall, female-run businesses grow slower, so create fewer jobs.

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By Karen Lee Sippel

Just days ago, participants in Egypt’s celebration of Global Entrepreneurship Week got a sneak peek at a new social game aimed at entrepreneurs from around the world. As the official game of GEW 2010, Global Innovation Game creates a marketplace for ideas in which players devise solutions for problems challenging communities the world over. Players take on the role of innovator, investor or both.

Currently, GiG is focused on three topic areas – energy, health and transportation – but as the game community shows interest, there are plans to expand topics to include education, the environment and other critical issue areas. Top players will be rewarded with in-game rewards and yet-to-be-announced real-world prizes, sure to be useful to fledgling entrepreneurs.

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In a post a couple of months back, we explored an emerging generation of software that can assist in turning creative inspiration into products by helping employees and managers act on the ideas, to move them through organizations, get financial support, and eventually be productized. 

I spoke with Luis Solis, executive vice president for growth & innovation at Imaginatik, one of these new tool providers that is launching what it calls an “innovation as a service” offering, applying the principles of collaboration and crowdsourcing to the innovation process.  What struck me, however, is Luis’ emphasis on first enlightening management and promoting a climate of innovation, more so than introducing tools and technology to try to force innovation. Here are his thoughts on what is needed to make innovation happen naturally in today’s organizations, then be able to take advantage of new collaborative tools:

What roadblocks to innovation do you typically see in your work?

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As Oklahoma welcomes newly elected leadership, it's a good time to pause and reflect on how innovation and entrepreneurship has advanced the past several years in our state.

Research and development that leads to new products that serve larger markets is the cornerstone of every innovation economy.

Over the past five-plus years, the state helped expand research and development by creating the EDGE (Economic Development Generating Excellence) program.

EDGE has 12 proposals competing for an anticipated $6.5 million in R&D funding scheduled to be announced soon. The innovative technologies and products represented include a miniature blood pump, hearing technology, an electromechanical battery, sensors for detecting explosives, low-cost Doppler weather radar systems, bio-feed for cattle, and an antibiotic peptide to treat hospital-acquired infections resistant to current antibiotics.

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Posted on Entrepreneurship.org: Angels Decreased Appetite for Seed and Startup.

Here's the alarming statistic:

Angels’ seed and start-up stage investing declined to its lowest level in several years...

The question remains: who will pick up the slack? Will SBIR be renewed at a moment in the economy when seed capital is most crucial?

More importantly, will the politicians elected to office in Washington (on both sides of the aisle) finally find the will and inspiration to alter the face of our economy, by shifting the focus from protecting jobs at large corporations to encouraging business creation?

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