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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.

BusinessWeek Blog on Corporate Tax Reform:
Turning Corporate Taxes into an Innovation Spur

As Michael Mandel has written in BusinessWeek, the current U.S. recession is due in part to a shortfall in innovation and competitiveness.  Those lags, in turn, can be traced to the U.S. corporate tax code.  U.S. statutory and effective corporate tax rates are high compared to those of other nations.  Moreover, the code provides only minimal incentives for companies to invest in the building blocks of innovation: research, new capital equipment, and labor skills.  It is time to redesign the tax code to help turbocharge the U.S. innovation engine.  Doing so will improve U.S. competitiveness, not only by reducing international tax differentials, but by also spurring more domestic investment in research and development, productivity-enchancing capital expenditures, and worker training.

Read the BusinessWeek Blog.

Seed is the new Series A for VCs

It shouldn’t come as a surprise to anyone that VCs have, over the past few quarters, been reluctant to put term sheets down on new investments. Most venture folks have instead been preoccupied with tending to their portfolio companies, either ensuring that their most promising companies have enough capital and resources to weather the downturn, or trying to sell off the others.

Govt committed to supporting R&D

Ms Ayittey said this in a speech read on her behalf at the opening of the Fourth Biennial National Delegates' Conference of the Senior Staff Association of the Council for Scientific and Industrial Research (CSIR) at Bunso in the Eastern Region. The Minister said government was committed to ensure increase in agriculture production so as to achieve food security and employment. She commended the CSIR for its contribution in agricultural research in respect of varietals trails, crosses research techniques, yield improvements and pest control.

Entrepreneur investors launching a $5 million investment fund for new ventures in medical devices and health care services.

Wealthy entrepreneurs who made their mark in the region's health-care sector want to seed a new wave of business growth.

Up to 20 investors, led by some of the region's most successful health care executives, are launching a $5 million investment fund for new ventures in medical devices and health care services.

EDC Expo speaker (Richard Bendis) to discuss capital, mentorship value

An experienced hand at developing capital resources will headline the Entrepreneurial Development Center’s fourth annual Expo.

Richard Bendis, president and CEO of Innovation America, a national private/public partnership focused on entrepreneurism, will talk about capital fundraising challenges at the Sept. 1 event at Kirkwood Center for Continuing Education in southwest Cedar Rapids.

Entrepreneurship as a Safety Net

Is entrepreneurship the new safety net? In a viewpoint column this week, Chris Farrell suggests that corporate careers have become more uncertain than ever, and young people are looking to microenterprises for stability.

Corporate loyalty used to work both ways, with loyal employees being rewarded with long-term job security. That model began to fall apart with mass layoffs in the 1970s, Farrell notes. Now that pay cuts and furloughs — once shunned even by corporations laying off workers — have become commonplace, he suggests, workers see less value and stability in corporate careers. Along with bolstering savings, workers are looking to microbusinesses as a hedge against the risk of layoffs or pay cuts:

How To Start A Business From Your Dorm Room

These are grim days for college students looking beyond the quad and into the job market. Some students are taking a proactive approach before graduating and setting up shop while in school.

Student-run businesses have moved beyond staples like proofreading and babysitting. Instead, students are taking advantage of technology to create sophisticated dorm-room businesses, in part because they view owning a business as less risky than working for one.