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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.

Having people ask to "pick your brain" can be the ultimate compliment to an entrepreneur. It makes us feel like we're experts in something, or that we've been successful enough at something that someone values our thoughts. But brain picking comes in many shapes and colors. Some brain pickers (BPs) are just looking for inspiration; talking with you stirs their own ideas. Others want resources--money, contacts, insider knowledge that will help them with their endeavors. None of these are inherently bad, but none of them are good if you aren't getting something out of the sharing.

I used to love it when people asked to pick my brain, especially early into the business. I might not have been drawing a paycheck, but by golly! Someone wanted to talk to me about something. It was a small sign of traction.

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A quick tour of the state of cultural policy in the English speaking world. The UK creative industry movement proves that the power of the creative economy can only be achieved through coordinated local, national and international cultural policy initiatives. So what’s going on in the creative industry policy world? Who is succeeding and who is failing?

John Brown argues in the Huffington Post to turn the US Department of Defense into the American Ministry of Culture. Many would argue that is already the case but he does offer some interesting ideas on what could possibly happen if that change were to occur.
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If the past week is any indication, big pharma is showing that it is willing to pay for biotech innovation. On the receiving end this week, Alder Biopharmaceuticals stands to reap more than $1 billion from collaboration with Bristol-Myers Squibb for the development and commercialization of ALD518, a novel biologic that has completed phase 2a development for the treatment of rheumatoid arthritis. Bothell, Washington-based Alder is granting Bristol-Myers Squibb worldwide exclusive rights to develop and commercialize ALD518 for all potential indications except cancer, for which Alder will retain rights and grant Bristol-Myers Squibb an option to co-develop and commercialize outside the United States. In return, Bristol-Myers Squibb will pay Alder an upfront cash payment of $85 million, potential development-based and regulatory-based milestone payments of up to $764 million across a range of indications, and potential sales-based milestones that may exceed $200 million and royalties on net sales. Alder also has an option to require Bristol-Myers Squibb to make an equity investment of up to $20 million in Alder during an initial public offering.

In another antibody deal, Sanofi-Aventis expanded its global collaboration with Regeneron Pharmaceuticals to discover, develop, and commercialize fully-human therapeutic monoclonal antibodies. The expanded partnership adds five years and at least $800 million to the existing deal. Under the revised partnership agreement Sanofi-aventis will increase its annual funding commitment from $100 million to $160 million beginning in 2010, and the research funding will now extend through 2017. The companies aim to advance an average of four to five antibodies into clinical development each year. In addition to its VelocImmune technology, Regeneron will contribute to the collaboration its next generation technologies related to antibody generation. Sanofi-aventis also has an option to extend the discovery program for up to an additional three years for further antibody development and preclinical activities.

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BWFareed Zakaria wrote an excellent book, The Post American World: The Rise of the Rest, in which he said the relative decline of the US was due to political, not economic problems. As someone who’s covered the global economy for decades, and as an old Political Science major, the argument never satisfied. Fareed was right about the delta—the direction of decline, but wrong about the cause. It was economic, as well as political.

Now Fareed is saying what we conceed to be increasingly true—the US is losing its edge in innovation. And with that loss, comes the loss of geopolitical clout. President Obama’s trip to China is about soothing our banker, not pressuring for civil rights.

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U.S. private equity returned 4.3% for the second quarter, its best quarterly return since the fourth quarter of 2007, and 1.1% for the six months ended June 30, while venture capital offered a 0.2% return for the second quarter but lost 2.6% for the same six-month period, according to Cambridge Associates.

Private equity managers called more capital than they returned as profits to investors in the second quarter. Private equity mangers called about $7.4 billion, $1.1 billion more than the first quarter.
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Ghana’s cultural policy is to be reviewed soon to give it a clear sense of direction, says Chieftaincy and Culture Minister, Alexander Asum-Ahensah. “The time has come to give the cultural sector a new direction that will take into account a policy guideline to enhance the capacity of the creative industries and their goods and services,” he said.

The minister stated this in a speech read on his behalf by the Chief Director of the ministry, Ms Lillian Bruce-Lyle, at a workshop organized by the Ghana Association of Phonographic Industry (GAPI) in Accra last Friday. The workshop on the theme, ‘Revision of cultural policy’ which reviewed the country’s cultural policy was organized in collaboration with the Business Advocacy Challenge Account (BUSAC) fund.

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Does your organisation have an effective employee suggestions scheme? An increasing number of organisations in the both private and public sectors are finding that they can drive innovation and reduce cost by moving their suggestion box from the office wall to the intranet.

Siemens Automation and Drives is a good example. They employ 400 people in Congleton, Cheshire making electric motor drives. Their scheme is called Ideas Unlimited and it generates over 4000 suggestions per year of which some 3000 are implemented. The total savings are around $1.5m per year. Howard Ball administers the scheme part-time. The key is simplicity he explained when he addressed the national conference of ideasUK, a non-commercial association dedicated to employee suggestion schemes and recognition processes.

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Silicon AlleyApple brought Steve Jobs back to the company in December 1996. Since then, he's been building a massive pile of cash, rolling out new product after new product.

On December 27th, 1996, Apple had $1.8 billion in cash and securities. Today it has $34 billion.

 

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Dear Friend,

On behalf of the White House, we’d like to invite you to a conference call on Monday, November 16th at 12:30pm EST with Administration leadership regarding small businesses and the H1N1 virus.

On the call will be Small Business Administrator Karen Mills, Department of Homeland Security Assistant Secretary for Health Affairs and Chief Medical Officer Dr. Alexander Garza and the Centers for Disease Control H1N1 Incident Commander and Director of Influenza Coordination Unit Dr. Stephen Redd.

There will be a brief question and answer session at the end of the call. This call is not intended for press purposes. Please feel free to pass this invitation on to other individuals or organizations that you think would be interested in being on the call.

 

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BWTwo of the initiative's proponents make the case for why it pays to encourage entrepreneurship among young people around the globe

Adam Farrell founded a solar technology business when he was just 15 years old. His entrepreneurial career started in ninth grade while working on a science project designing a solar-powered house.Surprised by the costs of the photovoltaic technology his team needed, Farrell realized there was an untapped market for smaller cells.Farrell has since expanded his business, Silicon Solar, turning it into a major research and development firm and one of the largest suppliers of solar energy technology in the world.

Elon Musk, one of the key founders of PayPal (EBAY), made hundreds of millions of dollars in his early 20s. Not satisfied with mere riches, Musk decided to aim for immortality by going on to start Tesla Motors, the sexy electric car startup, and Space Exploration Technologies, one of the most advanced private sector efforts to date to create a cheap and accessible space launch capability.

 

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Statement by APEC Leaders

Singapore, 14-15 November 2009

We, the Leaders of APEC, gathered in Singapore to chart a new growth paradigm for the Asia-Pacific region that meets the needs of the 21st century global economy.

The global economy has begun to recover, with the Asia-Pacific region taking the lead. But we cannot go back to "growth as usual" or "trade as usual". The post-crisis landscape will be different. We need a new growth paradigm. We need a fresh model of economic integration.

We will pursue growth which is balanced, inclusive, and sustainable, supported by innovation and a knowledge-based economy, to ensure a durable recovery that will create jobs and benefit our people.

We will take a more comprehensive approach to regional economic integration, to meet the needs of our businesses and to keep up with new trends in cross-border trade and investment.

We will seek to conclude the Doha Round in 2010 and reject all forms of protectionism.

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ABCNewsMost college students are recovering from midterms this time of year, bracing themselves for the second half of the semester or studying the drink menu at a nearby bar.

And in today's struggling economy, more and more of them are starting their own businesses instead of banking on employment. Such budding entrepreneurs manage to maintain their full-time course loads while taking on the role of CEO, with many sleepless nights to show for their efforts.

 

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