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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.

Inventors Digest magazine selected the four winners of its national and Carolinas youth innovation essay contests, after evaluating some 400 submissions from across the country.

The contests, part of National Inventors Month last August, sought essays that best articulated what technology, tool, product or service would shape our lives in 2059.

Winners of the national contests each will receive laptop computers, a year’s subscription to Inventors Digest, their essays published in the December 2009 issue of the magazine and on this Web site, a possible appearance on the Emmy award-winning television series Everyday Edisons, a T-shirt and brain-teaser game. Winners of the Carolinas regional contests each will receive iPods courtesy of the Charlotte Observer and Charlotteobserver.com, and other prizes. Congratulations to:

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Oct 23 (BusinessWire) – The Government’s has unveiled an important chunk of its slowly emerging innovation agenda today with the publication of proposals to radically simplify funding for scientific research by the Minister of Research, Science and Technology, Wayne Mapp.

“The changes we will deliver in the next six to nine months are arguably the most significant in 10 to 15 years” in science policy and will be a centre-piece of the 2010 Budget, Mapp told BusinessWire in an exclusive interview.

Bearing the heavy stamp, as well as the credibility, of the Prime Minister’s Chief Science Adviser, Professor Peter Gluckman from the University of Auckland’s Liggins Institute, the feedback paper proposes trimming to fewer, more strategic “priority areas” of RS&T investment. The proposals relate mainly to the funds administered by the Foundation for Research, Science and Technology, the Health Research Council and the Royal Society of New Zealand. These relate mainly to Crown Research Institute funding.

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A new innovation report by Grant Thornton International (GT), a consulting and advisory firm, examined the thoughts and attitudes of business executives globally towards innovation. The report is based on a survey conducted by the renowned Economist Intelligence Unit (EIU).

In the GT 2009 report, the role of customers, along with the attitude of companies to their customers, emerges as a defining characteristic. "No longer simply passive recipients of goods and services, customers now help to shape the future of their own consumption." They are now the leading source of innovations globally (41 per cent), more important than anything inside companies, including research and development.

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Gov. Rick Perry today credited the Texas Emerging Technology Fund (ETF) with helping strengthen Texas’ economy by attracting innovative companies, research dollars and jobs to the state. The governor spoke at the Gulf Coast Innovation Conference and Showcase, where he announced ETF investments in three Texas companies.

“Since its inception, the ETF has galvanized the research environment in our state by harnessing Texans’ amazing ideas and encouraging even greater efforts to inquire, innovate and invest,” Gov. Perry said. “These investments make a difference not only by creating cures for diseases, therapies for afflictions and technologies that make life easier, but also by growing our economy and creating jobs that allow Texans to earn a living and support their families.”
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In the previous decades, most large corporations have practiced glocalization: developing products in rich countries, then distributing them around the world, adapting the products slightly for different local markets.

According to Tuck School of Business at Dartmouth professor Vijay Govindarajan, these days of glocalization may be drawing to a close. He wrote in the recent Harvard Business Review article, “How GE is Disrupting Itself“:

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Are you an entrepreneur, engineer, researcher, business person, developer, university student or professor, with an idea or project that has the potential to become a disruptive technology or innovation? Do you see this project as potentially powerful, when targeted at an existing, or emerging, market? Have you developed a business plan or mission statement, and begun to build a successful team?

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In sub-Saharan Africa, 40 percent of business was carried out by women, it said. Despite this significant contribution to the national economy, CDE said, those taking on larger companies were still few. "Although most of the barriers to enterprise development are not linked to gender, women are hampered by the issue of credibility when starting a business," CDE said. "Once on the right track, however, they are just as successful as their male colleagues." Female business managers needed to stand up to the challenge and be more assertive when facing their bank manager so as to secure loans. Women managers rarely had time to develop business-related networks within professional associations as they had to combine their professional life with running a home, it said. CDE said their criteria for success were linked to both their activities and their family, but their mobility was restricted by the contrast of the latter. "They often lack self-confidence and easily become disconcerted by male sarcasm, especially when they are just starting out," it said. A number of national and international initiatives have been put in place to help female entrepreneurs. The World Association of Women Entrepreneurs enables them to meet their peers on a global scale and to form partnerships. The CDE said associations bringing together female business managers were being set up at the local level while professional associations now understood they had to absorb women entrepreneurs. The CDE is an organ of the ACP states and the EU in the framework of the Cotonou Agreement. It forms part of the general system of support the European Commission created for promoting the private sector and thus helping to combat poverty. ' New Ziana.

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WASHINGTON – United States Senate Committee on Small Business and Entrepreneurship Chair, Mary L. Landrieu, D-La., plans to introduce a bill today increasing limits on small business loans. The bill comes after months of talking with small business owners and lenders and in conjunction with an announcement earlier today by President Obama that new measures were underway to increase small business access to capital and create jobs:

“Since Congress passed and the President signed the American Recovery and Reinvestment Act, we have taken several steps to support small businesses, including eliminating loan fees – a provision I helped spearhead,” Senator Landrieu said. “These changes have helped to give more small businesses the capital they need to stock their shelves and pay their employees. But as President Obama said today, we must do everything in our power to aid our nation’s innovators and job creators to ensure their success and our nation’s future competitiveness.

 

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Oct. 22 (Bloomberg) -- New York is the most attractive city for business and innovation, outranking London, Paris and Tokyo, according to Japan’s Mori Memorial Foundation’s second Global Power City Index.

The survey covers 35 of the world’s major cities and provides a “comprehensive power” ranking, according to the foundation, which was started by Taikichiro Mori, the founder of Mori Building Co., Japan’s largest privately held developer.

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The federal government remains the largest source of academic R&D funding, but its share has dropped from 64 % in FY 2005 to 60 % in FY 2008, according to a new report from the National Science Foundation. The top five universities in federal R&D funding for FY 2008: Johns Hopkins University ($1.68 billion including JHU's Applied Physics Laboratory); University of California, San Francisco ($885 million); University of Wisconsin, Madison ($882 million); University of Michigan, all campuses ($876 million); University of California, Los Angeles ($871 million). The institutions constituting the top five have remained the same since FY 2004.

Industry experts have warned that without strong intellectual property laws, Dubai will never be able to attract companies that will innovate and invest in technology research and development. At a conference organised by Dubai Silicon Oasis during Gitex, speakers said that the emirate has a huge opportunity to attract talent, but it must lay the foundations for that to happen. This includes not just strong intellectual property (IP) laws, but also an understanding of where it wants to sit in the technology eco lifecycle. Japan, it was pointed out, wanted to be at the leading edge of technology and so its investments concentrated on building that market. China, on the other hand, identified the manufacturing base and is now a leader in that field.

 

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According to these two men, it takes more than smarts to be an entrepreneur. You must be able to deal with pressure. They also mention a new book they will be writing together titled, “The Midas Touch”.

While you are here, don’t forget to follow me on twitter to receive the latest updates.

 

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