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.

The president remarked that some claims made by opponents of his energy bill were cynical and contradictory to scientific evidence that supports the need for greener energy solutions.

Cambridge, Massachusetts (WiredPRNews.com) President Barack Obama recently dismissed arguments by many opponents of his energy bill as cynical claims made to stagnate progress on dealing with major environmental concerns. As reported by the Associated Press (AP), Obama spoke to an audience at the Massachusetts Institute of Technology (MIT) Friday about global warming and energy innovation.

Read more ...

Washington, DC - U.S. Senator Benjamin L. Cardin (D-MD), a member of the Senate Small Business and Entrepreneurship Committee, joined President Obama at Metropolitan Archives in Landover, MD, today as he announced new small business lending initiatives designed to put capital in the hands of small business owners. Senator Cardin applauded the new measures and announced his original co-sponsorship of a bill to be introduced by Committee Chair Mary Landrieu (D-LA) that will codify many of the initiatives and lending cap increases announced by the President today.

"Maryland's 522,000 small businesses provide economic opportunities to diverse groups of people, employing more than 1.2 million citizens, and bring innovative products and services to the market. But without capital, small businesses in Maryland and across the country cannot weather the current financial storm that has engulfed our economy. It's clear that our nation's economic recovery is dependent on the recovery and growth of small businesses.

 

Read more ...

On Tuesday, the National Venture Capital Association (NVCA), a trade association representing the U.S. venture capital industry, released the results of its latest venture funding study. The study, conducted with PriceWaterhouseCoopers and Thomson Reuters, indicates that venture capitalists invested $4.8 billion in 637 deals in the third quarter of 2009, a 17% increase in dollars and 3% decrease in deals as compared to the second quarter of 2009.

Read more ...

NEW YORK — A theme is emerging from the flood of recent corporate earnings reports: Cost cuts are boosting profits.

Investors are cheering, but they shouldn't. Even in these tough times, more CEOs should be talking about how they are seeking out investments, developing new technologies and making acquisitions.

That's what will set their companies up for a stronger future.

 

Read more ...

So you couldn’t get into Stanford, Berkeley or Harvard, huh? Don’t sweat it. You can still make it big. Some people might believe that an Ivy League education provides a huge advantage in entrepreneurship. But after researching this over and over again, I’ve found no such correlation. To the contrary, it seems that those who are born without the silver spoons in their mouths are more motivated to succeed. And those who aren’t members of elite alum societies develop the skills needed to hustle in the rough and tough business world. The Ivy-Leaguers may be able to get their buddies from Sequoia and Kleiner to return emails, but they aren’t going to be any more successful at building companies.

Read more ...

According to the most recent Pricewaterhouse Coopers MoneyTree report, the Philadelphia region’s VC market has seen a significant dip in third quarter investment.

The region received $94.4 million in VC investment in the third quarter, compared to $163 million last quarter, a drop of 42 percent. The region’s venture capital investment dropped 62 percent compared to the same quarter a year ago. Despite the dip in total invested dollars, the number of deals received a slight bump from 22 last quarter to 25. Only seven of the 16 metropolitan areas tracked by the report saw an increase from last quarter.

 

Read more ...

IT USUALLY takes years before employees get so jaded with their job they finally take the gamble of chucking it in to become their own boss.

Miss Elfaine Tan did that in just a few months. The go-getter was only 20 then and was still getting to know the ropes at an engineering firm - her first job, by the way - when she decided to make the big jump in May last year.

Read more ...

Capturing national attention for initiating successful programs to sustain the nation's position as a global leader for innovation and competitiveness, six organizations were named recipients of SSTI's 2009 Excellence in TBED Award. The third annual awards follow a nationwide competition recognizing outstanding achievements in tech-based economic development (TBED) emphasizing impact, strategic value and replicability.

"The impressive stories behind each of these six initiatives illustrate how strategic TBED investments work to promote regional growth through science and innovation," said Dan Berglund, SSTI President and CEO. "These organizations serve as best practice models in the field for their demonstrated leadership and meaningful impact to state and regional economies."
Recipients were honored today during a ceremony at SSTI's 13th Annual Conference in Overland Park, KS, attended by top economic development professionals from across the nation. The following initiatives were selected to receive the Excellence in TBED Award for 2009:

Read more ...

BARCELONA, Spain — How can a city resuscitate an entire depressed, old inner-city district, many of its blocks marked by abandoned factories?

Even more challenging: How to transform the same area into a high-powered knowledge hub that adds jobs by the thousands and draws dozens of high-powered national and international firms?

The "free enterprise" American approach might be to bring in the bulldozers, create an industrial park that displaces the old residents and maybe offer companies public subsidies to move in.

 

Read more ...

The State Science and Technology Institute (SSTI) announced the winners of its 2009 tech-based economic development awards.

The SSTI gave awards in six separate categories to nonprofits that initiated successful programs to sustain the nation’s position as a global leader for innovation and competitiveness at a ceremony in Overland Park, Kansas. Values emphasized included impact, strategic value and ability to replicate.

 

Read more ...

President Barack Obama said the U.S. must be a leader in alternative energy innovation to ensure continued economic growth and national security and to confront the peril of climate change.

Obama, speaking Friday to students and faculty at the Massachusetts Institute of Technology in Cambridge, said worldwide energy supplies are getting scarcer while demand continues to grow. He urged them to extend the U.S. legacy of innovation to meet that challenge and called on Congress to pass comprehensive energy legislation.

 

Read more ...

A consortium of Irish executives who hold senior roles in some of Silicon Valley’s most prestigious technology firms are building an all-island US$100-million venture capital fund to ensure Ireland achieves breakthrough success stories.

The Irish Technology Leaders Group (ITLG) is a group of Irish and American senior executives in Silicon Valley who are committed to ensuring that Ireland remains not only attractive for mobile investment by US technology giants but also that Irish entrepreneurs can grow global businesses.

Read more ...