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.
MONCTON, Sept. 23 /CNW/ - From October 5-7, Moncton will be home to the first ever Intelligent Communities Summit. The Intelligent Communities Summit, "Leveraging Technology for Community Development" will bring together international leading-edge community, academic and private sector leaders to share best practices and engage participants to brainstorm next steps in leveraging technology to enhance private sector growth and community development. These next steps will be designed to help businesses and communities weather economic storms, prosper and improve quality of life.
Intelligent Community Forum Co-Founder Robert Bell will join New Brunswick Premier Shawn Graham, Canadian Wireless Telecom Association CEO Bernard Lord, and Innovation America CEO Richard Bendis as featured speakers. Some of the other speakers and panelists will include:
Venture capital funding is at a historic low, yet at least eight software startups announced VC funding in the past two weeks for a total of more than $60 million. Their products are all very different, but they have one thing in common: they're delivered in a software-as-a-service model.
This is significant, because it shows that when VCs are thinking about what software companies to fund, they recognize value in the SaaS model. Some apps are just easier to sell and deploy as a SaaS, and are likely to gain better traction in a tough economy.
I’m thrilled to hear that the Economist has just launched a new column about business, innovation and entrepreneurship in honor of Joseph Schumpeter (1883-1950), the brilliant Austrian economist who, argued that innovation is at the heart of economic progress. It gives new businesses a chance to replace old ones, but it also dooms those new businesses to fail unless they can keep on innovating (or find a powerful government patron). In his most famous phrase he likened capitalism to a “perennial gale of creative destruction”.
The well-quoted adage “if you fail to plan then you plan to fail” might sound right and it may be the accepted wisdom of the masses. But excessive planning might be wrong, at least according to experienced angel investors and venture capitalists. In fact, what investors need is concise information, not more information.
TROY, N.Y., Sept. 21 -- President Obama called Monday for "a new generation of innovation" as he outlined a strategy to build on more than $100 billion in economic stimulus funding to promote progress in such areas as clean energy, health care and basic research.
"As we emerge from this current economic crisis, our great challenge will be to ensure that we don't just drift into the future," Obama said in a speech at Hudson Valley Community College. He said his strategy was aimed at building an economy better equipped to compete internationally, avoid cycles of boom and bust and create "the jobs of the future."
The U.S. venture capital industry raised only $1.7 billion in the second quarter of 2009, according to Thomson Reuters and the National Venture Capital Association. This is a major from the $4.6 billion raised during the previous quarter and it was the smallest quarterly dollar total since the first quarter of 2003, when $938 million was raised during the depths of the dot-com crash.
WASHINGTON, Sept. 21 /PRNewswire-USNewswire/ -- The R&D Credit Coalition applauds President Obama for his speech made today at an upstate New York community college where he outlined his broader innovation strategy and how the government can play an important role in bolstering the U.S. economy through supporting innovation and entrepreneurship.
The following statement can be attributed to the R&D Credit Coalition:
"America has a strong innovation economy, but as we head into the G20 Summit in Pittsburgh this week, there are signs that our great country risks falling behind other developed nations. For America to lead the world in a global economic revitalization, our leaders must renew their commitment to supporting innovation through research and development.
Scores of technology startup companies in the Mid-Atlantic region have pitched their ideas to investors over the past year, only to come away with little or no funding. By many accounts, the recession and stock market losses have turned swashbuckling early-stage investors into penny-counting worrywarts.
As a result, more entrepreneurs have relied on so-called bootstrapping - launching a business by funding it themselves along with help from friends and family, and keeping it as lean as possible until they can attract venture capital investment. The few who can lure investors today are regarded as having won a lottery of sorts - one made possible by their own sweat equity, and not by chance.
Last week, I [Johnathan Ortmans] participated in the NASVF Annual Conference in Oklahoma City where experts discussed again how to ensure that credit crunches do not negatively impact start-up performance. The good news is that those gathering at this conference started from a common appreciation that entrepreneurship cannot be on the sidelines of economic and financial policy. Breakfast speaker Rick Wade, Deputy Chief of Staff to the Secretary of Commerce, noted rigorous research at the Kauffman Foundation that revealed that entrepreneurs drive job creation in the U.S. with firms less than five years old accounting for all net job growth in the U.S. Moreover, job creation from startups is much less sensitive to downturns than job creation in the entire economy, according to research by Kauffman’s Dane Stangler. This may seem counterintuitive. However, this does not mean that entrepreneurs do not respond to business cycles. As Stangler points out, "a downturn might actually act as an extra spur to founding a new company, if the founders perceive that their prospective competition might be weakened." Others see starting a company amid a recession as a way to take their future into their own hands. Perhaps a major economic restructuring actually produces a lot of new unexpected opportunities. What is clearly understood is that entrepreneurs steadily recreate the economy, generating jobs and innovation.
General Electric Co. (GE), in a bid to better compete in emerging markets and elsewhere, is changing its method of innovation and developing products in low-cost countries, such as China and India, then distributing them worldwide.
The Bill & Melinda Gates Foundation is best known for its work combating malaria, AIDS and other diseases.
But the world’s richest charitable foundation has been quietly expanding into other problems of the developing world and this week announced an effort to bring banking, including savings accounts, to the poor, The Associated Press said.