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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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3. Berkshire Grey $263.0M Round: Series B Investors in the round: Canaan Partners, Khosla Ventures, New Enterprise Associates, SoftBank Description: Lexington-based Berkshire Grey develops a materials handling system intended to automate omnichannel fulfillment. Founded by Tom Wagner in 2013, Berkshire Grey has now raised a total of $263.0M in total equity funding and is backed by investors that include SoftBank, Canaan Partners, New Enterprise Associates, and Khosla Ventures. Industry: Artificial Intelligence, E-Commerce, Industrial Automation, Robotics, Software Founders: Tom Wagner Founding year: 2013 Location: Lexington Total equity funding raised: $263.0M

Image: https://www.alleywatch.com

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Venture capital may be hurting Silicon Valley new research

Google “the next Silicon Valley” and you’ll find stories about Chicago, Boise, Pittsburgh, Los Angeles, even cities in Europe and India. For decades now, everyone has been trying to replicate the Bay Area’s booming, venture capital-backed technology industry.

But new research out of the Yale School of Management traces many of the region’s most glaring problems — soaring income inequality, high cost of living and shrinking middle class — can be traced to the venture capital that helped build Silicon Valley.

“Most of what we’re showing in this paper is that the returns, who is benefiting from that, are very unevenly distributed,” said Olav Sorenson, the professor that co-authored the new research.

Image: Facebook employees take a ping pong break on May 8, 2014, at the company’s campus in Menlo Park, Calif. The social networking company might want to order more ping pong tables — it is planning to add thousands more workers by 2019. - https://www.mercurynews.com/

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Planting Gardening Flowers Free photo on Pixabay

The performance edge family businesses have over their non-family business counterparts has been explained by their dogged pursuit of operational excellence. Family firms tend to take a long-term view of investments and relationships, stay in ownership control to do things their way, focus on persistent improvement and innovation, develop loyal stakeholder relationships, build key talent in select individuals, carry lower debt, and build greater financial stability.

 

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Banners and Alerts and Selective Focus Photography of Closed Signage Free Stock Photo

From declining foot traffic to the rise of e-commerce, countless stores have permanently closed their doors for a number of reasons. In 2020, more than 2,200 stores are already set to close across the United States. In 2019, more than 9,300 stores closed. But even when shopping malls were in their heyday, many stores still shuttered for various reasons. Department stores like Bon-Ton and Ames, bookstores like Waldenbooks and Borders, and clothing stores like Wet Seal and Limited Too are among the many stores that have permanently shut their doors. Here are 50 once-beloved stores that don't exist anymore.

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Fastest shrinking jobs in the US since Trump became president Business Insider

One of President Donald Trump's most commonly discussed topics is the strength of the American economy.

Trump has written tweets highlighting strong stock and other market results and the general state of the economy, and frequently mentions the strong jobs market during campaign speeches and rallies. Trump emphasized the booming stock market during his State of the Union address on Tuesday.

Image: US President Donald Trump delivers remarks during a campaign rally at the Giant Center in Hershey, Pennsylvania. Reuters

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Katie Fehrenbacher

I have the sad claim to fame of being one of the journalists most associated with the bubble and bust of Silicon Valley's tortured love affair with cleantech. It perhaps wasn't the most advantageous career move, but it was an interesting ride to follow, and I'm betting the ride ain't over yet.

A decade and a half after the first wave of cleantech kicked off, Elon Musk has clawed his way through the valley of death, but the vast, vast majority of startups and investors did not and entire investing sectors (CIGS solar cells, solar thermal, cellulosic biofuels) were entirely wiped out between 2006 and 2014. 

 

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As a mentor to entrepreneurs, I tend to see many of the same obstacles appearing in every new startup, and since I don’t want to appear to be a downer, I’m not sure how to properly warn people ahead of time to be on the alert for these challenges. In fact, since most entrepreneurs are eternal optimists anyway, they would never believe any negative scenarios could happen to them.

Yet, in the interest of full disclosure, and an honest intent to save future entrepreneurs some grief and money, I would remind you that starting any business has key dependencies on at least five major elements, including product design and delivery, the right people on the team, adequate funding, a sizable market opportunity, and marketing. Each of these can go astray as follows:

Image: https://blog.startupprofessionals.com

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Austin Texas

Millennials are ditching giant hubs like New York City and San Francisco and looking to shack up elsewhere.

Rapid economic growth plays a key part in what makes up-and-coming cities attractive potential landing spots. WalletHub recently analyzed 515 US cities to identify the locales that experienced the highest levels of economic growth over the last seven years.

 

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Shanghai has long aimed to become an international pioneer in science and technology, and now it is taking legislative action that could make it an innovation powerhouse, China Daily reported.

Officials there are leading the way with a new bill that will support entities to lead, organize and participate in science projects and encourage R&D, data and big science facilities in the region, the report said.

Image: A series of R&D institutes have also been inaugurated, including the Shanghai Research Center for Quantum Sciences, the International Innovation Center of Tsinghua University Shanghai, the Fudan University Human Phenome Institute and the China-Israel Innovation Hub. Credit: SHINE.

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Exploding quantities of data have the potential to fuel a new era of fact-based innovation in corporations, backing up new ideas with solid evidence. Buoyed by hopes of better satisfying customers, streamlining operations, and clarifying strategy, firms have for the past decade amassed data, invested in technologies, and paid handsomely for analytical talent. Yet for many companies a strong, data-driven culture remains elusive, and data are rarely the universal basis for decision making.

 

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GGeorge Mason University starts the search for developers for its Amazon inspired Arlington campus expansion Washington Business Journaleorge Mason University is now looking for private partners to help it build its Amazon-inspired expansion of its Arlington campus, outlining preliminary plans for a building with 225,000 square feet of academic space and 135,000 square feet of private office and retail.

University officials released a request for proposals Tuesday, looking for developers interested in teaming up with Mason to build a new home for the Institute of Digital Innovation on its Virginia Square property.

Image: https://www.bizjournals.com

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podcast

With an enduring reputation for political neutrality, a peaceful civil life and prime luxury goods, Switzerland once again has topped a list ranking the best countries in the world.

The central European nation with a population of just 8.5 million is basking in its fourth year at the No. 1 spot in the U.S. News & World Report 2020 Best Countries rankings. Started five years ago, the rankings measure global perceptions of 73 nations chosen because they contribute most to the world’s GDP. More than 21,000 people around the world are asked to evaluate the countries based on 65 metrics ranging from stability to transparency to equality.

 

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