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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.

Back in 1986, when Bill Gates was still making sales calls, he pitched my group at First Boston on why we should bet the farm on Windows. Despite the risk involved, we gave his fledgling startup the deal. This wasn’t because of his financial backers (he didn’t even drop any names), but because we believed in his vision and nerdiness. In the same way, Google became a huge success long before the deep pocketed VC’s arrived to ride Larry and Sergey’s coattails. They simply had a great technology and winning strategy.

So I’m miffed by the National Venture Capital Association’s (NVCA) claim that companies like Microsoft and Google “…would not exist today without the funding and guidance provided during their early stages by venture capitalists.” And I’m amused that the NVCA claims credit for creating 12 million jobs and generating $3 trillion in revenue (that’s only 21 percent of U.S. GDP). In the software industry (which includes Internet/Web 2.0), they stake claim to 81% of the all jobs created. Yes, 81%. Can they please give the entrepreneurs who risk their life savings, max out their credit cards and put their families in the back seat a little more credit? We’re not talking about divvying up the company’s stock here, just a pat on the back.

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Today, Aneesh Chopra, US Chief Technology Officer and Associate Director for Technology for the White House, spoke at a forum held by TiE, an entrepreneurship organization based in Silicon Valley. Chopra was joined by a panel of Silicon Valley execs and VCs, including Apple co-founder Steve Wozniak. Chopra made his debut to Silicon Valley a few weeks ago at the Churchill Club, addressing the future of innovation and Federal investments in technology.

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Obsession with the politics of health reform has diverted attention from a huge issue: the decline of U.S. medical innovation.

In March 2009, A coalition of leaders in research, medicine, patient advocacy, academia, education, labor and business leaders anticipated the harmful effects of this diversion. They formed the Council for American Medical Innovation.

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Dear Group:

Good meeting with many of you at ASME earlier this summer.

If anyone is in DC on Tuesday morning and would like to attend this event, please do so. . The National Academies is releasing its report on research parks on Sept. 22 at the Capitol Visitors Center, and Senator Pryor of Arkansas will be speaking as will I on behalf of AURP. [This was organized only late this week so apologize about the lack of advance word.] See attachments

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The Communication “Reviewing Community innovation policy in a changing world [53 KB]” presents an assessment of the achievements and shortcomings in implementing Community policies in support of innovation in recent years. Together with a series of more detailed Commission staff working papers, it serves as an input to the preparation of a new European innovation plan, as called for by the European Council.

The objective is to put in place new ambitious policies to foster innovation in Europe. The new policy will be presented in the context of the forthcoming post-2010 Lisbon strategy for growth and jobs, taking into account the global economic crisis.

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I've invented another theorem or "law" of innovation, which suggests that the speed of innovation is inversely proportional to the kinds of innovations you create. If your team creates incremental innovations, then the pace of innovation must be high, and the pipeline kept full. If your team creates disruptive innovations, then the pace can be much slower, with perhaps fewer ideas in the pipeline. This is predicated on a number of assumptions:

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Jim Jaffe, President and CEO of NASVF:

I want to thank everyone that attended the NASVF Conference in Oklahoma City, Oklahoma this week and especially our host, the Greater Oklahoma City Chamber and all the sponsors that supported this fantastic event.

There were many great opportunities to learn from the best practitioners in the country at the diversified panel discussions along with listening to keynote presenters.

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The NASVF conference this week presented a wide array of options and opinions on seed and early stage funding. Representatives of federal, regional, state, and both public and private sector economic development and investment organizations participated on panels. Most felt that their approaches would be successful, but the only things they truly agreed upon was that such investment was both necessary to our future economic growth and harder to get in this economy.

 

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According to C.K. Prahalad, a professor of corporate strategy at the Ross School of Business of the University of Michigan, corporations seeking to create new markets addressing the needs of the billions of poor people living at the bottom of the economic pyramid can — and should — use that effort to drive sustainability and innovation within their own ranks.

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NEW HAVEN — - Despite its lofty ranking when it comes to personal income, Connecticut has been slow to harness the wealth of its most prosperous residents to support technology startups.

A new state plan — endorsed this week by Gov. M. Jodi Rell — would give tax credits to such "angel investors."

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