Innovation America Innovation America Accelerating the growth of the GLOBAL entrepreneurial innovation economy
Founded by Rich Bendis

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.

"In the twenty-first century, our country once again needs to undergo comprehensive modernisation. This will be our first ever experience of modernisation based on democratic values and institutions. Instead of a primitive raw materials economy we will create a smart economy producing unique knowledge, new goods and technology of use to people."

-- PRESIDENT OF RUSSIA DMITRY MEDVEDEV

Read more ...

Biotechnology, pharmaceutical and medical sectors of the economy have weathered the recession better than many other industries. Some large companies are beginning to show growth, and small companies and research centers of all sizes are reaping the benefits of government funding. This fall, President Barack Obama announced the release of $5 billion in stimulus funds for the National Institutes of Health. The funds are part of the $10.4 billion the NIH is slated to receive through the American Recovery and Reinvestment Act of 2009 (ARRA). (See BioWorld Today, Oct. 5, 2009.)
Read more ...

SBIR CoachYogi Berra was one of my heroes when I was a kid. He was in his prime as the perennial All-Star Catcher for the New York Yankees and I idolized him. But it wasn't until after he retired as a player and hit the banquet circuit did I really appreciate his genius.

His quotes have become apocryphal for their malapropisms and "huh?" factors. One of my favorites is, "This is like deja vu all over again." But the Yogi-ism that is applicable to the current SBIR reauthorization situation is, "If you come to a fork in the road, take it."

The question is, which path at the fork do we take? Which way to go? Perhaps the path well traveled - follow the crowd. Sometimes it's the path someone pays you to take. Much of the time, it's the path of least resistance

Read more ...

Today’s press review clearly demonstrates the contrast that exists in the promotion of the creative economy from one region to another. Most countries in the world participate in a clearly defined creative economy and creative industry movement while the US promotes a do-it-yourself art/cultural economy model.

It’s broadly recognized that the concept of the creative economy started in 1994 in the UK when they expanded their definition of the art economy and the cultural industries to include the creative industries and the newly recognized creative economy. Since then many European and Asia-Pacific countries have followed their lead and now carry out targeted efforts to promote their creative industries locally, nationally and internationally.

Read more ...

The report card aims to highlight the sorts of innovations in education – such as an extended school day – that lead to better schools.

If states truly want to improve their education systems, they need to do away with the rules, regulations, and bureaucracies that stymie innovation.

That's one message from a new report that measures states on how well they foster education innovation, grading them in areas ranging from finance and school management to how well they hire effective teachers and remove ineffective ones.
Read more ...

Suppose you’ve started a business that needs $100,000 of external financing to get off the ground. Because none of your friends or family has the money to make the investment, you’re looking for an accredited angel investor.

That investor is going to be very, very hard to find. Statistically, very few people are in a position to make these kinds of investments.

Let me give you some numbers to show you how rare this source of financing is. Because only a small number of new companies are successful enough to generate a reasonable return on an investor’s capital, most accredited angel investors realize that they need a diversified portfolio. Therefore, most investors will only invest a small portion – sophisticated angels say no more than 10 percent – of their net worth in start-ups. So a person who can invest $100,000 in start-ups needs a net worth of at least $1 million.

Read more ...

The Department of Energy has billions in loan guarantees to hand out to alternative energy firms and automakers. But the highly competitive process has been criticized as slow, unmoving even.

What is a government agency to do? Hire a venture capitalist, of course.

The DOE announced Wednesday the appointment of Jonathan Silver, a former managing general partner at Washington D.C.-based venture capitalist firm Core Capital Partners, to head its loan guarantee and green auto programs. Core Capital invests in alternative energy, software, telecommunications and advanced manufacturing technology.

Read more ...

BWThe venture capital market appears to be bottoming out after a long decline, according to a Fenwick & West survey of the venture capital market for the third quarter of 2009.

There are two significant data points worth pulling out. First, the number of investment rounds for higher valuations (i.e. “up rounds”) exceeded the number of investment rounds for lower valuations (i.e “down rounds”) for the first time this year. Up rounds exceeded down rounds 41% to 36%, according to the survey. In the second quarter, down rounds exceeded up rounds 46% to 32%.

This the equivalent of a rising valuations in the stock market, suggesting that VCs are getting more optimistic about the value of venture-backed startups.

 

Read more ...

The Washington region has the nation’s richest set of federal research and development assets, but they are not fully realized partners in our technology community. To unlock their full potential, we need to provide them with the tools necessary to connect with the present, using a federal connection model from the past.

Abraham Lincoln was the nation’s first technology president. He is the only president ever awarded a patent, he approved the congressional charter for the National Academies of Science, and he signed the nation’s first technology transfer statute creating the state university system of service to regional economies.
Read more ...

The race is on for energy-technology entrepreneurs who have won federal economic-stimulus grants from a special high-risk technology program—with promises of more money if they can move their inventions closer to market over the next two years.

The Energy Department's ARPA-E agency—modeled on a military program for bankrolling cutting-edge technology, including computer networking that led to today's Internet—has awarded $151 million to 37 companies around the country. Nearly 3,700 companies applied for the money. A complete list of the winners selected by the Advanced Research Projects Agency-Energy can be found here.

Read more ...

Fast CompanyAs any entrepreneur who's spent some time trying to understand the venture capital universe will tell you, VCs typically invest locally. The logic goes like this: Having startups to invest in nearby makes it easier for both parties to interact, get guidance, brainstorm, etc.

So if an entrepreneur believes that getting venture capital is incumbent to his startup's success and location is important to venture firms, it's probably worth spending some time thinking about where your startup will call home. A look at the Q3 2009 venture capital funding statistics compiled by ChubbyBrain offers a data-driven view of venture investment by geography, which may help entrepreneurs with another data point as they consider the age-old question of location, location, location. (For a data-driven perspective into the world of venture capital, download the free 44-page Fast Company-ChubbyBrain Q3 VC Activity Report.)
Read more ...

SINGAPORE, Nov 14 (Bernama) -- Malaysian Prime Minister Datuk Seri Najib Tun Razak said the government would make Malaysia a better place to live and work in to bring back its citizens who are residing overseas as well as attract global talents to the country.

"We will create more opportunities, more excitement and more buzz in Malaysia to attract the Malaysian diaspora and expatriates to the country," Najib said on Friday night.

Speaking at a dinner he hosted for the Malaysian community here, the prime minister said that in the current challenging world, Malaysia needed the best talents and brains to develop and prosper the country.

Read more ...