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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.

There are some qualities that successful entrepreneur possess. People perceive them to be lucky but if you ask them, then you know the answer is not being lucky. It is about being optimistic along other qualities.

Have you ever wondered how the life of a successful entrepreneur is like? What is your first thought when you meet one? I mean the one who owns many businesses. Probably you conclude that he is lucky. We always admire them and have that appealing of being like them. Frankly, coming up with a unique business idea in this saturated markets under the sun isn’t easy.

Being a successful entrepreneur is not about luck… no, it’s neither about you being fed up with your current job and seeing that entrepreneurship is the way forward. But it’s all about people who have made up their mind and are passionate about becoming successful in business.

If the new business fails, they never quit. Instead, they take a break in order to review the whole idea. They discover where they went wrong. They do the necessary modifications and adjustments. They are there to make it happen.

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(Wilmington, DE) Delaware Governor Jack Markell joined Former House Majority Leader Dick Gephardt at Delaware Technical and Community College in a call to promote medical innovation as a means of creating jobs and finding cures. Research prepared by The Battelle Technology Partnership Practice for the Council for American Medical Innovation (CAMI) shows that the U.S. is losing ground as a leader in medical innovation, an area that generates high-quality jobs and if properly fostered, could generate more.

“It is critical to our national and economic interest that we own medical innovation in the future as thoroughly as we owned mechanical innovation in the past. We need continued leadership in promoting critical bio-medical industries in order to secure the jobs of the future. We’re talking about unleashing the American spirit of enterprise and our entrepreneurial energy to tackle not just the next great economic opportunity but the next great medical discovery,” said Governor Markell. “Delaware has a well-earned reputation as a cradle of innovation.”

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altWASHINGTON -- The House passed two bills that would provide community banks with cheap capital to increase lending to small businesses and give investors a tax break for purchasing stock in small corporations.

The two bills, however, face an uncertain future in the increasingly cost-conscious Senate.

The Small Business Jobs and Credit Act, which the House passed June 17 on a 241-182 vote, would create a $30 billion fund that banks with less than $10 billion in assets could tap. The bill includes incentives for banks to use this money to increase lending to small businesses; the more loans they make to small firms, the lower the dividend rate they would pay the government for this capital. Banks also would have to submit a plan on how they would use the capital to increase small-business lending.

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Psychiatrist Says Alcohol Suppresses CreativityAccording to a psychiatrist, the thought that artists are inspired by drugs and alcohol to create magnificent work of art, is a dangerous myth. The reason behind it is that they suppress creativity, rather than boosting it.

Consultant in Addiction Psychiatry at Gartnavel Royal Hospital in Glasgow, Iain Smith, is of the view that many artists, who were renowned for their use of such substances, produced their greatest works, when they under the effect of alcohol.

Smith revealed that the myth owes its popularity to the appeal of these intoxicating substances. The myth is also powerful because many artistes require drugs to handle their emotions. He also disclosed that artists are highly emotional and therefore, use of these substances to cope up with their emotions is expected to happen.

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Dr. Rafi HofsteinA colleague catches Dr. Rafi Hofstein on the way into his office and outlines a project snag. Dr. Hofstein, the chief executive officer of MaRS Innovation, a new entity charged with turning Toronto scientists’ ideas into products and profits, is annoyed – both by the interruption and the colleague’s insistence the problem will cause delays. “We have to sign today,” Dr. Hofstein says tersely, already halfway into his office, “so make sure we sign on something that’s agreeable to us.” The door shuts.

Dr. Hofstein has no time for internal diplomacy. He’s here to get things done the entrepreneurial way: shrewdly, creatively and as quickly as possible. He’s been given five years to turn the vast scientific talent clustered around University Avenue into the seeds of a vibrant biotechnology industry. And he’s doing it while answering to 14 research institutions and three levels of government. The job, says a close observer, requires an “arch-politician” – but one who invests in ego-stroking only when it’s necessary.

His challenge is huge, but so is the opportunity. Ontario, and especially Toronto, is home to North America’s third-largest medical cluster, exceeded only by San Diego and Boston. Starting with the discovery of insulin in 1922 and on through breakthroughs in genomics, stem cells and breast cancer, the city has emerged as a global leader in regenerative medicine, oncology and medical device technology. The 2.5 square kilometres centred around the University of Toronto and the downtown hospitals, dubbed the Discovery District, may be the most concentrated area of medical research in the world, says Matt Buist, biotech manager for Toronto Economic Development, who branded the area in the mid-1990s as part of an effort to attract investment.

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altCalifornia has by far the largest number of tech workers. According to TechAmerica Foundation’s Cyberstates 2010 report, it has 993,000 tech workers, and its largest center is Silicon Valley.

But it’s not just Silicon Valley that impresses me. If you fly north along the West Coast starting at San Diego, take a look at what you’ll be flying over:

- San Diego, with its large communications, biotechnology and pharmaceutical companies. This is where Qualcomm is based, the world leader in mobile communications technologies.

- Orange County has a very large number of electronics companies. This is where Broadcom, one of the largest chip companies is based.

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51sbCUyEcnL Young World Rising: How Youth Technology and Entrepreneurship are Changing the World from the Bottom Up (Microsoft Executive Leadership Series)Title: Young World Rising: How Youth Technology and Entrepreneurship are Changing the World from the Bottom Up (Microsoft Executive Leadership Series)

Authors: Rob Salkowitz

Description

Young World Rising gives you an exclusive glimpse into the new trend that’s transforming global business and changing the dynamics of globalization

The global Millennial generation is 4.1 billion strong, and the spread of data networks is empowering them to build radically new kinds of organizations adapted to a flat and crowded world. Young World Rising takes you on a panoramic tour of the new centers of enterpreneurial innovation on five continents.

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Shlomo MaitalInnovation Blog

See, Think, Wonder: What Innovators Can Learn from Kindergarten

By Shlomo Maital

My grand-daughter Agam is six years old, and is finishing kindergarten; she will begin Grade One in the Fall.

Agam’s kindergarten is first-rate. One of the things she learned there (in addition to reading!) is an exercise known as See Think Wonder. A variation of it is Feel Think Wonder.

Here is how it works:

1. See.  REALLY LOOK at something.  Mostly, we look at things, but we do not see them.  REALLY see them.  In every detail.  Practice SEEING!  See things we miss normally, out of haste.  Have you really seen your eyebrows lately?  What did you miss?

2.  Think.  Think about what you see. Reflect on it. Ponder, analyze, compare, contrast, examine.

3.  And most important:  WONDER!   That is, imagine and dream. What if it were different?  What if it were impossibly amazing?   What if I looked at myself in the mirror, and became 6 feet 6 inches tall?  WONDER — leading to action!

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I have moved around the United States over the past few years, and whenever I mention my hometown Gary, Indiana, two things come up no matter what:  The Jackson family and the economic downturn of the steel industry of the 70s and 80s that also impacted the city of Gary.  So imagine my feelings after hearing about Hollowing Out The Middle. Written by sociologists Patrick Carr and Maria Kefalas, the book examines how the plight of maintaining economic viability in small towns is too often overlooked.  Given the economic uncertainty of the country, the book’s appearance is timely.

Who Stays Home, Who Goes Away

Hollowing Out The Middle focuses on the interviews of the young residents of “Ellis”, Iowa, a small town with a population of 2,000 and “eighty miles from the nearest Starbucks”.   Carr and Kefalas moved to Iowa to understand the migration motives; they note that “only West Virginia loses a larger percentage of college graduates to out-migration.”  The authors divided their interviewed subjects into four separate groups;

  • Stayers, those who feel their lives are best served staying in their town
  • Achievers, those who leave for large cities and educational opportunities
  • Seekers, those who join the military, unable to afford college
  • Returners or “Boomerangs”, those who leave for large cities and later return, rejecting the lifestyle selected for personal reasons
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President Mark W. Huddleston listens on while Mark Galvin talks about the NH Innovation and Commercialization Center. Galvin is managing director of the newly-launched center in Portsmouth. PORTSMOUTH – Some firms aim to serve as incubators for up-and-coming companies. The New Hampshire Innovation Commercialization Center wants to be an accelerator.

The collaboration between the University of New Hampshire and local entrepreneurs focuses on the field of technology. Those involved hope the initiative will nurture promising start-up companies, support innovation and create jobs.

On Wednesday, managing director Mark Galvin – who has had a hand in starting four companies, including Whaleback Systems – gave a tour of the new facility on Rochester Avenue in the Pease Tradeport to UNH President Mark Huddleston and the media. Galvin showed off a converted space in the 15,000-square-foot building, where he hopes New Hampshire’s future success stories will begin.

Companies that come in will be given seed funding, access to resources from the university and the local business community, and guidance by in-house entrepreneurs who have experience with start-ups. They’ll have six to 18 months to grow into a company that can stand on its own, buoyed by staff expertise at the center and some $100,000 to $250,000 in startup funds.

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As world leaders gather in Canada this weekend, the nations with the most influence won't be the high-tech mavens. Joel Kotkin on why traditional industries still matter in the post-information age.

Are we entering the post-information age?

For much of the last quarter century, conventional wisdom from some of the best minds of our times, like Daniel Bell, Alvin Toffler and Taichi Sakaiya—in both East and West—predicted that power would shift to those countries that dominate the so-called information age. At the time, this was the right call, but it may increasingly be, if you will, old news. Although there’s no question that iPhones and 3-D movies are nifty—and hedge funds generators of massive wealth for investors and operators—we now may actually be entering what might be called the post-information age.

As the ministers gather in Toronto this weekend for the G-20, we can see how overblown the efficacy of a virtual economy might be. The current star players on the field in terms of economic growth and fiscal strength generally derive their power not from information technology, media, or financial savvy but by the mundane but still important basic underpinnings of economic growth: agriculture, manufacturing and energy production.

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Although the concept of venture capital has been around for well over two hundred years, it is only really in the last twenty or thirty years that companies have specifically sought to boost entrepreneurialism and profit through the development and growth of successful businesses. Many of the venture capital companies trading today were initiated in the eighties or nineties.

Although this idea has proven to be popular and successful for both investors and for those struggling to take their business to the next level, there is widespread concern amongst new entrepreneurs or would be business owners that the current economical climate and general concern with the future economic outlook is liable to put off many would be investors. The concern is that venture capital investors are likely to be less interested in business, especially those with a higher degree of risk attached.

It is argued by many that for this reason it is not advisable to look to develop or found a new business because obtaining financial backing is likely to be almost impossible, stalling the company and preventing you from taking advantage of the markets you perceive to be available.

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image source: 4.bp.blogspot.com/.../s400/entrepreneurDo you have what it takes to be an entrepreneur, takes risks, start your own business and fulfill your dreams of financial independence and be your own boss?

What is an entrepreneur? Well, the word itself came from late 19th century France as “entreprendre”, which means “somebody who undertakes”.

So, an entrepreneur is one who takes risks, or as Encarta defines it, a risk-taking businessperson, somebody who initiates or finances new commercial enterprises.

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Tuesday, he expects to lock up $1.5 million in funding for his new start-up, Lantos Technologies. The company has developed a 3-D scanner that it hopes will streamline the current generation of earphones and hearing aids by precisely fitting them to the dimensions of the ear canal, right up to the eardrum.

"We're hoping people will be able to walk in the store and have their ears scanned like people get their ears pierced today," he says. "That'll lower the cost because they don't have to go to a specialty doctor."

Unlike other academics often left to their own devices, Professor Hart was able to bring his hearing aid concept closer to reality with $50,000 in backing last year from the Deshpande Center for Technological Innovation, an M.I.T. entity originally funded by two private investors, Jaishree Deshpande and her husband, Gururaj.

"I wouldn't have known the first thing about doing all of this," says Professor Hart. "The people from the Deshpande Center led me through."

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clusterfunkfeb2 Cluster FunkI recently attended another one of those economic development summits where a bunch of people with long titles gets a chance to speak on a panel touting the mysterious benefits of a mysterious innovation clusters that create mysterious wealth that can only be realized if their mysterious department is funded.

Nearly every speaker concluded with the following paraphrase: “if only government would fund this or that, everything will be fine”, or, “if only corporations would fund this or that, then we’ll all be better off”

Uhmmm…sorry to break the news, it ain’t gunna happen.

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This morning, Boston Mayor Thomas Menino is expected to announce his intention to establish a cleantech incubator in Boston's "Innovation District," a/k/a the Seaport District. The Mayor planned to make the announcement at the Ad Club's Edge Conference.

According to his prepared remarks, the Mayor mentioned Boston-based EnerNOC, a publicly-traded company, and his plans to build a 1.65 megawatt wind turbine on an island in Boston Harbor.

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It doesn’t matter how long you’ve been blogging, how many subscribers you have or even if you’re still waiting to get your first comment — we’re all want to become better bloggers. You want to continually increase your reputation as someone who knows their stuff and set yourself as valuable to readers. With that in mind, here are six tips to help you instantly improve your blog. That’s right; you can significantly improve your blog today.

Grab a pen.

Hone in on your goal: You started your blog for a reason, right? What was it? Often when small business owners blog they’re doing it to increase their search presence, create new content to attract users, increase sales, build a community, become an industry authority, etc. Whatever your reason (or combination of reasons), make sure that stays in the forefront of whatever blogging strategy you create. It’s really easy to fall off course and blog for the sake of blogging, but that attitude isn’t going to help you reach your goals or build your blog. Know why it is you want to build your blog and make sure you’re staying true to that.

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As the economy edges toward recovery, the best job-creation policies Congress can implement may well focus on allowing U.S. ingenuity to flourish.

As New Democrat Coalition leaders, we believe this is a top priority to build on our nation’s core strengths of innovation and entrepreneurship.

During the downturns of the early 1990s and 2000s, innovative small businesses led the way out of recession. More than half the companies in today’s Fortune 500 — including Microsoft, Federal Express and Intel — were born as small businesses in the depths of past recessions or bear markets.

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