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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.

ChronicleThe Corporation for National and Community Service today released a long-awaited draft notice spelling out how it will award grants under the $50-million Social Innovation Fund.

The “Notice of Funds Available” — which was delayed by slow Congressional action to approve the agency’s budget — says the corporation plans to award approximately five to seven grants of $5-million to $10-million during the 2010 fiscal year, which ends September 30.

The money, which will be awarded for periods of up to five years, will go to “intermediary grant-making organizations” that will in turn award grants of at least $100,000 annually to promising nonprofit groups. Both the intermediary organizations and the nonprofit groups must provide matching funds.
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Innovation TournamentsThis book provides a principled approach for the effective management of innovation tournaments – identifying a wealth of promising opportunities and then evaluating and filtering them intelligently for greatest profitability. With a set of practical tools for creating and identifying new opportunities, it guides the reader in evaluating and screening opportunities. The book demonstrates how to construct an innovation portfolio and how to align the innovation process with an organization’s competitive strategy.

Innovation Tournaments employs quirky, fresh examples ranging from movies to medical devices. The authors’ tool kit is built on their extensive research, their entrepreneurial backgrounds, and their teaching and consulting work with many highly innovative organizations.

For more information, click here.

You can find this title at IESE’s Library catalog.
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mLiveGRAND RAPIDS -- The president of the Michigan Economic Development Corp. is looking forward to 2010.

Unlike some economists who say a recovery won't appear until 2011, Greg Main thinks next year will be the turning point.

"Michigan appears to be on the edge of crawling out of this," Main said. "I think we're going to see pretty strong growth over the next year."
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Dynamic ExportA new venture capital foundation aiming to raise money for China’s small businesses to help relieve their financing hardships is a model that Australia should consider, says the Council of Small Business of Australia.

“The new venture capital foundation being established by Chinese authorities to help their small business community deal with the impact of the tightened credit and financing market is a model that the Australian Government should consider,” said Jaye Radisich, CEO of the Council of Small Business of Australia.
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ConversationIt looks like everyone is buffing up their predictions for another year of astonishing growth by social media. The last several years have brought so many surprises that the next several are promising to yield a bumper crop of “I told you so” fodder for “Pithier than thou” crowd.

My [Dan Robles] prediction for 2010 is that nothing is sacred, including the onslaught 2010 predictions. Therefore, I’ll will go way out on a limb and make my 2011 predictions in 2009.
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Dairy PowerThere is no need to wait millions of years for deceased organisms to compress into fossil fuels to burn. Forget about how the wind doesn’t always blow hard enough to move wind turbines, or that the sun doesn’t shine on solar panels at night. A typical U.S. dairy cow is a renewable energy machine, producing 150 pounds of “fuel” in the form of manure…every single day. There are no intermittency issues as there can be with wind and solar; as one dairy farmer said to me: “cows crap 24 hours a day.”

The U.S. dairy industry produces a staggering amount of manure every day, to the tune of 167 million gallons of manure from some 9.3 million cows. That is enough manure to fill 250 Olympic size swimming pools every day of the year, generated by a population of cows that is more than three times the number of people in Chicago. (This is definitely something to impress your friends with the next time you they ask you to pass the milk for their coffee.)
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BWWhen you invest in private companies, Scott Shane says you shouldn't rely on what the majority thinks

Myth: Most angel investors can predict what's going to happen with angel investing.

Reality: Every year, the Angel Capital Assn., the industry trade group, conducts a survey of the leaders of its nearly 200 member groups. Part of this survey asks about the current year's investments, and part of it asks for predictions about the next year.

Because one can compare the predictions made for 2008 (as shown in the 2008 report with the actual outcomes for 2008 (as shown in the 2009 report, I was able to examine how accurate the angel group leaders are in predicting what will happen in the market for angel capital.
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BioCrossroads, Indiana Teachers Retirement Fund, Lilly, Fairbanks Foundation, IU, Purdue, Notre Dame, and Credit Suisse announce new $58 million venture capital fund to fuel innovation

INDIANAPOLIS, Dec. 16 /PRNewswire/ -- Capitalizing on the continued strong growth of Indiana's life sciences industry and an active venture capital market, leaders from BioCrossroads, Eli Lilly and Company, Indiana State Teachers Retirement Fund, Indiana University, Purdue University, the University of Notre Dame, Richard M. Fairbanks Foundation, and Credit Suisse today announced the establishment of the INext Fund, a $58 million venture capital fund of funds.

Organized through BioCrossroads, Indiana's initiative to grow, expand and invest in the life sciences, and managed by the Credit Suisse Customized Fund Investment Group, the INext Fund includes investments from Lilly, the Indiana State Teachers Retirement Fund (TRF), IU, Purdue, Notre Dame, and the Fairbanks Foundation. This fund of funds is a capital pool that will invest in venture capital funds that are focused on the life sciences, thus encouraging and facilitating direct investment in Indiana life sciences opportunities.

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NYTABOUT 10 years ago, I [MICHAEL FEINSTEIN] was doing a weekend of Christmas concerts, accompanied by a fine regional symphony in California. The first night went well, I thought, with a program of holiday classics that seemed beyond reproach. The song choices were about as controversial as a Creamsicle.

But I was wrong. Minutes before I walked onstage the second night, a nervous representative of the orchestra board appeared in my dressing room to tell me that my program was “too Jewish.” Wow, I thought, who knew that orchestra management played practical jokes on artists moments before their shows? My laughter turned to disbelief when the stuttering gentleman said that there had, in fact, been complaints.
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Entrepreneurship: the process through which entrepreneurs create and grow enterprises: Entrepreneurship development…the infrastructure of public and private policies and practices that foster and support entrepreneurship.
Some of the entrepreneurs are:

1.Survival entrepreneurs: who resort to creating enterprises to supplement their incomes because there are few other options available. Sometimes called “entrepreneurs by necessity”

2.“Lifestyle entrepreneurs” are people who chose self-employment because they no longer want to work for someone else, or because it provides a better way of balancing work and home demands, or because it enables them to stay in communities to which they have great attachment. The focus is usually on providing a living for the entrepreneur and her or his family. They are often called “Mom and Pop” businesses,

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EuractivThe European Institute of Innovation and Technology (EIT) has unveiled three major new innovation clusters focusing on climate, energy and information technology. Each of the initiatives will bring together academia and industry at several locations across Europe.

The Knowledge and Innovation Communities (KICsexternal ) will receive start-up funding of €3 million and will report to the EU's commissioner for education, culture, multilingualism and youth.

The EITexternal headquarters in Budapest is expected to be fully up and running by April 2010, but the KICs will be autonomous and will be run "like a business", according to the Institute's chairman, Martin Schuurmans.
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Salt LakeUniversity researchers often have no idea how to get the science they've developed to the marketplace where it can benefit real people.

Most prefer to stay in the lab and let university officials bring in off-campus entrepreneurs to create companies to market that research.

A decade before he came to the University of Utah as dean of the David Eccles School of Business, Jack Brittain started to think about another way of creating business ventures based on university-developed technology.

"We wanted to ... support the research mission, the educational mission and the service mission of the university," he said.
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