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.

Susilo Bambang Yudhoyono, the Indonesian president, yesterday pledged to promote entrepreneurship and education reform as part of his push to raise economic growth to 7 per cent by the end of his term in 2014.

Speaking after being sworn in for a second term last week , Mr Yudhoyono also promised to streamline government bureaucracy. He said successful implementation of his plans would reduce unemployment to 6 per cent from 8 per cent. His efforts would lower the poverty level to as low as 8 per cent from 14 per cent.

Read more ...

There is an assumption in many organisations that focusing on innovation processes is a kind of industrialisation of innovation, that with the right processes, then you don’t need to worry about employing genuinely innovative people, anyone can and will be successful within a great process.

And it’s true, up to a point: especially when the focus is upon optimising existing products and services. But when the environment changes radically, then the issue of having the right people to innovate becomes important.

I have noticed that innovation consultancies tend to focus upon time-intensive innovation process consultation with a few useful techniques thrown in. This is because whilst they help to focus attention on developing a shared understanding of an agreed approach to turning an invention into an innovation, and on the need to understand customers’ needs, such consulting enables at least 5 additional benefits:


Read more ...

Last Thursday, the Federal Communications Commission (FCC) proposed a rule intended to preserve the ability of individuals to access all lawful content or software without interference by their Internet service provider (ISP). This principle often goes by the name "net neutrality," reflecting the idea that the ISP should be neutral as to the content people choose to access over their Internet connection.

As heads of an Internet company competing in today's marketplace, we fully support the FCC's proposal.

Read more ...

BEIJING (Reuters) - China's top economic planner said on Friday that it had launched venture capital funds totaling 9 billion yuan ($1.32 billion) jointly with several provincial governments and private investors to support the country's growing high-tech sector.

Investments will focus on electronic and information industries, the biological and pharmaceutical sector and environmental and energy-related projects, the National Development and Reform Commission, the powerful planning agency, said in a statement on its website (

Read more ...

In the late 18th century there was a buttonwood tree in lower Manhattan where brokers gathered to trade stocks. But by 1817, the tree had become obsolete as a trading hub. The traders migrated indoors and changed the name of their group to the New York Stock and Exchange Board. The exchange moved a couple of more times after that, and in 1903 the NYSE opened for business in the neoclassical masterpiece that still stands at the corner of Wall and Broad Streets.

Today a giant American flag stretches across the tall Corinthian columns of that elegant design—the very symbol of American economic freedom. Yet even as hordes of out-of-towners stroll by daily on tours of New York's financial landmarks, it sometimes seems that international finance is leaving the bricks and mortar behind.

Read more ...

Mark Suster, a partner at GRP Partners, has an outstanding post up this morning titled VC Seed Funding is Dead, Long Live VC Seed Funding. Mark started blogging recently and has quickly turned into my second favorite VC blogger (after Fred Wilson) – if you don’t subscribe to his feed, you should.

Mark just did his first seed deal, a $500k investment in a company called, and his post is a long essay on how he’s thinking about seed investing these days. He makes the appropriate warning (and differentiation) between VC investors who view seed investments as “options” on future rounds (e.g. they toss a little money in and then generally ignore the company until the next financing) and “active seed investors” (like First Round Capital, SoftTechVC, True Ventures, Union Square Ventures, and O’Reilly AlphaTech) who view the seed investment as their first round of several as they help get a company up and running.


Read more ...

PROVIDENCE — In looking to plug the incessant drain that happens each spring when newly minted college graduates flee Rhode Island for bigger metropolises, this state might do well to take a lesson from Philadelphia, experts say.

Back in the 1990s, the City of Brotherly Love struggled with that image. Its universities were first rate and attracted students from around the world, but after graduation, the vast majority of those youngsters took flight for places like New York and Chicago.

It wasn’t that anything was wrong with Philadelphia; it just didn’t have enough to keep them there.
“Statistics say the more students you get engaged in internships as early as you can, the higher retention rate you’re going to have because they know the businesses and they get more comfortable with the work environment within that community,” said Richard Bendis, founding president and chief executive officer of Innovation America, a public private partnership that worked on the Philadelphia project.

Read more ...

What has become the Internet was started 40 years ago when computer scientists at UCLA made the first host-to-host connection to the Stanford Research Institute. From there, there's been no looking back.

It was October 1969 and Paul McCartney was not dead. He even said so in a press conference. The 100-to-1 shot New York Mets won the World Series. The cold war between Russia and the U.S. was anything but with nuclear testing continuing unabated by both sides. The U.S. though, was riding high in the space race after successfully landing two men on the moon earlier in the summer.

Buoyed by the national interest in the space race, U.S. science and technology programs were blossoming throughout the country with the best and brightest high school grads flocking to college science and computer majors. They could be spotted on campuses as the ones with shoe boxes full of punch cards to fed into university mainframes.

Read more ...

Harlan Anderson turned 80 this month. With Ken Olsen, he started Digital Equipment Corp., which was one of the pillars of the Route 128 era in Massachusetts and at one point was the second-biggest technology company in the world, after IBM. Next month, his memoir (“Learn, Earn & Return: My Life as a Computer Pioneer’’) will be released.

Oh, and he also started blogging recently.

I spoke with Anderson earlier this month to ask him about becoming an author, meeting (and later parting ways with) Olsen, how they raised money for the start-up, and what he views as the Achilles’ heel that undermined DEC.
Read more ...


Thursday, October 29, 2009 – 8:00am – 1310 Longworth – Open

The Defense Acquisition Reform Panel will meet to receive testimony on Can DOD Improve Innovation and Competition in Acquisition by Better Utilizing Small Business?

Ms. Linda Oliver (pdf)
Acting Director, Office of Small Business Programs
U.S. Department of Defense
Mr. Calvin Jenkins (pdf)
Deputy Associate Administrator, Government Contracting and Business Development
U.S. Small Business Administration

Over 300 Members filled out a recent survey. 81.7% are CEOs, just 29.1% are running their first startup, and 49.3% are on the West Coast of the US. Help TheFunded by filling out the nine question survey at
Survey results are below:

Read more ...