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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.

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).

Innovation: Why don't users mind when Twitter breaks? by Tom Simonite

Millions of conversations around the world were rudely interrupted last Thursday when a massive cyber-attack shut down the microblogging service Twitter. Normal service wasn't resumed until the weekend. Google, Facebook and blogging service LiveJournal also came under attack during the same period.

The incident, believed to have been the result of efforts to silence a single Georgian blogger, has demonstrated the vulnerability of social networks and the power of politically-motivated hackers. But it's also provided a real-world experiment in users' reactions when a supposedly critical service is abruptly yanked away. Surprisingly, the outages provoked relatively little outrage – but why?

List of business and entrepreneurship blogs by Victorino Q. Abrugar

It’s always been my habit to wander the blogosphere in search for great business weblogs which I can read and get some important pieces of information. These blogs also serve as my chosen places to participate in significant discussions, make relevant comments and share some link juices. This becomes my regular activity to get some fresh business wisdom. As a continuing vision to share all the things that came into my business life, I have presented the following list of business and entrepreneurship blogs. There are tons of business blogs on the net, but I only included those that have Google pagerank of at least three (PR3).

Global trends in venture capital: 2009 report by Deloitte

The survey was conducted with venture capitalists (VCs) in the Americas, Asia Pacific (AP), Europe and Israel. There were 725 responses from general partners of venture capital firms with assets under management ranging from less than $100 million1 to greater than $1 billion.

Multiple responses from the same firm were allowed, as the survey was a general measurement of the state of global investing from all general partners, not attitudes of specific firms. If respondents did not answer a question, the count for the question was adjusted accordingly.

The highest number of respondents—35 percent—claimed assets under management totaling between $100 million and $499 million. Another 34 percent had managed assets that were less than $100 million, 17 percent had managed assets greater than $1 billion, and 14 percent had between $500 million and $1 billion in assets under management.

Using technology to turbocharge innovation in a downturn by Jacques Bughin, Angela Hung Byers, and Michael Chui

Amidst the pain of economic downturn, comes an overlooked competitive opportunity for companies: during recessions, only major innovations pass the test of success. These are the kinds of innovations that can sweep away older business models, creating a foundation for major growth that will endure long after the downturn has passed and a New Normal has taken hold.

Falling Valuations: Poison for Venture Capital by Brad Stone

In a quarterly study of venture financings published Friday, Fenwick & West, a Silicon Valley law firm, found that so-called “down rounds” in the second quarter of 2009 exceeded “up rounds,” 46 percent to 32 percent. Last quarter was similarly bad – with 46 percent down rounds and 25 percent up rounds.

In a down round, a start-up issues more stock with a lower valuation than in previous rounds, which means that the equity of previous investors has shrunk. This is poison for the V.C. industry, which depends on returning large bounties to its investors, who have plenty of safer asset classes in which to invest their money.

Innovation in your career development by Tara Pengakis

What does innovation mean to you as you seek a new career? Searching for a job in new way? Do you have to be really intelligent or creative to be innovative?

Some people say that an invention is an idea made real and that innovation is that invention used successfully. So, while a new product may be a clever concept and even a working model, if people cannot find a use for it at the right time and the right place, it isn't likely to be successful. Be innovative in your career development. Use established inventions in new ways.

DOE Finances 'Old Guard' Auto Companies as Startups Lose Out by John Gartner

Some automotive entrepreneurs are feeling like when it comes to getting DOE funding, it's who, not what you know.

The $2.4 billion in federal funding for advanced battery and vehicle electrification announced this week boosted battery manufacturers that had prior relationships with the DOE, while some lesser-known innovators were left with hat in hand.