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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.

Icelandic people turn towards more innovation | eNewsWire

Iceland’s economy may be struggling, but regular Icelanders are trying to find new ways to fend for themselves and their families. Innovation centres have been formed in many towns and the low value of the Icelandic krona helps exporting companies.

Some years ago, many firms in Iceland had to watch as the country’s largest banks literally sucked talent from them, with stellar salaries dwarfing those in regular companies.

Venture Model Makeover & Diet Plan-Step One

A lot of people have been asking lately if the venture model is broken. But it seems to me that it’s just decrepit. Like an aging, rotund former football star, the venture industry is scratching its head and realizing that its glory days are long past. The industry collectively doesn’t really know how to handle its new reality. In the heyday, top-quartile funds might have gotten away with treating their important stakeholders arrogantly, but given that even top-quartile firms have not provided great returns over the past 10 years, venture GPs will need to make herculean efforts and adhere to a strict regimen in order to make the upcoming cut. With almost the entire industry needing to raise new funds over the next two years, there may be few survivors. I propose a three-step makeover plan for those paunchy firms that are on the edge.

$2.0 BILLION IN FISCAL 2010 FOR TECHNOLOGY IN PENNSYLVANIA STATE GOVERNMENT

Decrease in state funding offset by federal economic stimulus spending

August 24, 2009 - pjmathison today released its 2009-10 Pennsylvania State Government Technology Investment Forecast, which provides advanced details on more than $2.0 billion in upcoming tech-related consulting, procurement and economic development spending by PA state government for the fiscal year beginning July 1, 2009.

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Patents: Horizontal vs Vertical Innovation

I am a long time opponent of patents and Intellectual Property rights (to a great part because of your work), but something always bothered me and that was the ‘innovation’ argument by the patent supporters. I could always see both the sides of the arguments, yet was never sure which side is right. I can see that without patents there is no incentive to develop a technology with a large investment, on the other hand, without patents, there is probably no need of a large investment.

Tools for Innovation I: Normal psychology and economic recovery ...

Business magazines like Forbes, newspapers like the Wall Street Journal, and economic forecasters are united in their belief that economic growth in the US will be driven by innovation. That is, the US and other major economic players will not grow by developing new products and key refinements of existing products that will drive new consumption. This is not news, really. Bringing new ideas to market has long been a centerpiece of economic growth. And that means that Psychology is crucial to the economy.

Sparxoo Top 5: You Might Be an Entrepreneur If...

“Our focus is now on entrepreneurship and innovation as opposed to industry attraction in the old-line sectors,” said Jeff Kaczmarek, president of the Economic Development Corporation in an interview with the New York Times. “In times of economic distress, it’s small business and entrepreneurs who lead the way out of these recessionary periods.”

Next three months will decide our future, says EI chairman

DECISIONS made over the next three months will show whether or not Ireland has a blueprint for the way forward, the chairman of Enterprise Ireland (EI) has said.

Accountant Hugh Cooney said the legislation on Nama, the Lisbon Treaty referendum, and the December Budget after the deliberations of the Taxation Commission and Bord Snip Nua would all arise in the next 100 days.

Posts about venture capital as of August 22, 2009 | Geekfluence

How entrepreneurs finance their company is one of the most critical decisions that they will make during the course of their startup. The structure of their financing will be one of the key drivers of the financial return from their venture.There are financing structures for companies that have small potential and structures for companies that have big potential. There is not a one-size fits all strategy for capitalizing a company.Read the entire post