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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.

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Dr. Mark Sklansky has always hated shaking hands. He can think of about a dozen better ways to greet patients than the icky exchange. “Hands are warm, they’re wet, and we know that they transmit disease very well,” says Sklansky, chief of pediatric cardiology at UCLA Mattel Children’s Hospital. “They’re a phenomenal vector for disease.” He’s also tried to avoid this form of greeting because he knows that some patients don’t want to shake hands for religious or cultural reasons but feel compelled to when their doctor sticks out a hand. For a long time, though, being anti-handshake was fringe thinking. The handshake is such an ingrained part of the doctor-patient relationship that it happens 83% of the time, according to one 2007 analysis of more than 100 videotaped office visits.

 

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Aren’t your 20s the years to have fun and go on adventures? Yes, they are. And the adventure could be entrepreneurship. According to Meg Jay in her book The Defining Decade: Why Your Twenties Matter, doing something later does not automatically mean doing something better. You do not have to wait until you are older and more equipped for entrepreneurship to venture into it. And if you are in your 20s and raring to go, pick up the book while at it. 

 

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The world is currently running a forced mass experiment in remote working – and some of the most important technology companies have decided that there’s no going back. In the wake of the Covid-19 pandemic, Facebook, Twitter, Shopify and others have announced that they’ll offer a permanent option to work from home to most employees. It’s a shift that, if sustained, will have profound consequences – not least for how we think about innovation.

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From snorkel masks turned into protective gear for COVID-19 affected patients, to shipping containers repurposed as ICU pods, there’s no shortage of clever examples of human ingenuity in fighting the pandemic. And there’s actually much more, if you go beyond the headlines; so much more, in fact, that StartupBlink, a company specialized in tracking and geolocalizing innovation ecosystems, put together the Coronavirus Innovation Map, listing hundreds of innovations and solutions that help people cope and adapt to life at the times of the virus.

Image: Global Map of Coronavirus Innovations THE CORONAVIRUS INNOVATION MAP - https://www.forbes.com

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In Sydney Finkelstein’s classic study of corporate collapses, Why Smart Executives Fail, the evidence that business leaders would have needed to avoid fiasco was available to them in every one of the cases that the author and his team examined. The book was written in 2004, yet the problem it highlights persists. My colleagues and I have spent almost 20 years examining crises, including Hurricane Katrina and the current coronavirus pandemic. In these situations, too, the cracks in organization, system, and community foundations have often been clear to see, if leadership had been looking. But despite warnings, leaders have been unable, or unwilling, to give credence to the risks. They overlooked or ignored them — and the cost of their inaction has been high.

 

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Because of the Jumpstart Our Business Startups (JOBS) Act – which was passed in 2012 – it’s now possible for anyone to invest in early-stage startups. Although, there are certain restrictions, such as on the amounts of the offerings. But for the most part, equity crowdfunding has certainly democratized the process.

Image: https://investorplace.com

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All around the world, medical supplies have been the most sought-after commodity due to the COVID-19 pandemic, as countries rush to secure what they can due to the shortage of protective masks, reliable test kits and other equipment needed by doctors and nurses. However, South Korea's health sector has received global acclaim for its rapid response to the pandemic as well as its fast tracing abilities and its development of test kits, and it has been supplying them to some 110 countries.

Image: http://www.arirang.co.kr/

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Every new business quickly realizes that revenue coming in every period on a committed basis is the Holy Grail to survival and growth. Based on traditional research, getting new customers is five to ten times harder than getting additional revenue from existing customers. Thus the subscription model (low fixed monthly payments), has become the norm for new products and services.

Image: https://blog.startupprofessionals.com

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Videoconferencing has been around for more than 20 years. Until the pandemic, though, you would find that many if not most people needing to attend a meeting remotely would be calling from a real conference room full of their teammates. Today, we’re routinely holding videoconferences that are 100% virtual. And that introduces a problem technology can’t fix.

 

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With vast swaths of the globe under social distancing restrictions, networking may be the furthest thing from your mind. But just because you can’t connect in person doesn’t mean your business relationships have to languish.

We regularly co-host networking dinner gatherings in New York City, which — for the time being — are no longer an option. We’ve pivoted to organizing virtual networking events instead. Here are some best practices that have worked for us to keep connections active, even at a distance.

 

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BALTIMORE, May 26, 2020 /PRNewswire/ -- Johns Hopkins University today released a comprehensive report to help government, technology developers, businesses, institutional leaders and the public make responsible decisions around use of digital contact tracing technologies (DCTT), including smartphone apps and other tools, to fight COVID-19.

Digital Contact Tracing for Pandemic Response – a report led by the Berman Institute for Bioethics in collaboration with the Center for Health Security at Johns Hopkins, as well as leading experts worldwide – highlights the ethical, legal, policy and governance issues that must be addressed as DCTT are developed and implemented. The report's primary conclusions and recommendations advise that privacy should not outweigh public health goals and other values; that big technology companies should not unilaterally set terms when such broad public interests are at stake; and that decisions about the technology and its uses will have to be constantly updated as new information becomes available.

 

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