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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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Designed to help business travelers have more productive flights, HighSpeedInternet.com has researched the best and worse in-flight WiFi offerings on domestic flights. The report gathers the price, availability and speed data of all major domestic airlines in the U.S. Using an algorithm, each of the airlines’ specs are compared to find the most reliable WiFi on domestic flights.

Juggling work and play during the festive period isn’t easy for entrepreneurs and small business owners, particularly if you’ve got a fair bit of traveling to do. Rather than wasting time getting from A to B during the holiday season, small business owners can ‘kill two birds with one stone’ and work whilst they travel, providing they’ve got access to Wi-Fi that is.

Image: https://smallbiztrends.com

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INewImaget is no secret that innovation is a powerful driver of growth in any modern economy. How does a country promote innovation activity? A recent study by economists Alex Bell, Raj Chetty, Xavier Jaravel, Neviana Petkova and John Van Reenen on a million inventors in the US offers some fascinating insights. There are three important lessons. First, children whose parents are in the top 1% by income are 10 times more likely to become inventors compared with children whose parents earn less than the median income. Second, children exposed to inventors at an early age, thanks to growing up in innovation hubs, are more likely to become inventors themselves. Third, star innovators already earn big bucks, so it is unlikely that financial incentives such as tax cuts will boost innovation.

Image: Children whose parents are in the top 1% by income are 10 times more likely to become inventors compared with children whose parents earn less than the median income, says a recent study. Photo: Aniruddha Chowdhury/Mint - http://www.livemint.com

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artificilal intelligence

The AI boom holds both utopian and dystopian possibilities that we may not yet be prepared for.

Changes wrought by new technologies are often regarded with suspicion in their time. Yet market economies have consistently transformed techno-shocks into long-term advantages for a wide swathe of society. This was true with electricity, the advent of the conveyor belt and even the first wave of the IT revolution. In most advanced economies, for example, armies of office workers have shrunk as a casualty of the computer revolution that began in the late 1960s. In 2017, few would reject the benefits that have arisen from eliminating rote tasks, such as filing and tapping out letters on temperamental typewriters.

 

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For all the tech industry’s talk of changing the world, sometimes the best innovations aren’t particularly dramatic. They’re ideas that are small—but so clever that they seem obvious in hindsight. They improve the products we already use in ways we can immediately appreciate.

Big breakthroughs and splashy new products tend to get all the attention; for once, here’s a tribute to the small-scale innovations that are just as important.

Image: courtesy of Google

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Mumbai: This year saw Indian venture capital () funds reap exits worth around $2.775 billion across 56 deals, a sharp 56.2% jump from the $1.777 million venture capital firms gained from 74 exits last year, data from private deal tracker Venture Intelligence shows.

The year witnessed big exits such as Tiger Global Management’s $800 million part-exit from India’s largest online retailer Flipkart when it sold shares to Japanese telecom and internet conglomerate SoftBank Group Corp.

Image: http://www.livemint.com

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When future historians of Silicon Valley look back at 2017, they’ll see a time when America’s most powerful tech companies and the venture capital ecosystem that created them came under unprecedented scrutiny from politicians and the public. The region’s innovation engine produced numerous technical advances, but controversy over fake news and revelations about sexual harassment of female entrepreneurs have cast a shadow over the Valley this year. Here’s a brief recap of some of the most significant developments.

Image: https://www.technologyreview.com

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beer

For many people, beer has been used as fuel for drunken adventures--or misadventures, as the case may be. However, scientists have found that this type of alcoholic beverage can be used for another type of fuel altogether—as an alternative to diesel or gasoline.

It turns out that the alcohol in drinks like beer is exactly the same as ethanol, which already is being used as an alternative fuel in gasoline in the United States, according to researchers at the University of Bristol. And the process of converting this ethanol to butanol holds keys to creating a more standard industrial process for developing biofuel, they said.

 

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As we close out 2017, it’s worth looking back on the stories that shaped the past year. For our readers, these 25 most-read stories were the ones that caught your attention more than any others. Some of these are in-depth features while others are breaking news stories, but all of them had one overriding thing in common: They were what fascinated you most in 2017.

Image: https://www.inverse.com

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teenagers

An unprecedented number of youths are interested in starting their own businesses, research by the Korea Research Institute for Vocational Education and Training revealed Monday.

The institute conducted the research between June and July this year. It targeted students, their parents and staff at 1,200 elementary, middle and high schools. More than 51,000 were asked about students’ preferred vocations.

 

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vacation

Meetings, deadlines, late nights which often become all-nighters, an entrepreneur's life is not an easy one. They are always hurrying, achieving one target after the other which doesn't give them time for themselves. Busy with their day-to-day operations, they do not get time to unwind, but that also means they end up being exhausted, which can even lead to breakdowns one day.

 

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Middle America has an experience problem when it comes to growing startups.

So argues Tim Schigel, founding partner of Cincinnati's Refinery Ventures, an early stage venture capital investment firm, in this piece in Business Insider.

He applauds ventures like Steve Case's new $150 million venture fund that's part of his Rise of the Rest initiative dedicated to providing, as Schigel puts it, "capital with connections for nascent startup economies in Middle America." But "there is a less obvious gap for us to leap here in places like Cincinnati or Kansas City that is just as critical: it's a lack of startup experience in the general business culture."

Image: Photo by SCOTT SUTTELL

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Millennials

As part of my job, I regularly work with people who own and run their own businesses. Many of these people are what you might call "thought leaders," highly respected in their fields. They're movers and shakers. And starting a few years ago, they all started saying the same thing:

We're firing our millennial employees.

 

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For every entrepreneur, there are only so many opportunities to make a good impression on your potential customers. But when you have a holiday-centric business, your window of opportunity is open during one of the most stressful times of the year. "You only have one chance to get it right,” says Matt Bliss, the founder of Modern Christmas Trees.

The 5-year-old Denver-based company is the creator of trees made of lightweight acrylic circles that come delivered complete with LED lights, battery-powered rotating mirror ball, ornament options and an installation kit. The tree comes in five colors and three sizes and the company’s products range from a $39 tree topper to an $800 7.5-foot fully-decorated tree. Customers can also purchase an undecorated one for $399.

Image: Modernchristmastrees | Instagram

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At the beginning of each month we will profile the twenty posts from the previous month that generated the most traffic to Innovation Excellence. We also publish a weekly Top 8 as part of our FREE email newsletter. Did your favorite make the cut?

But enough delay, here are November’s twenty most popular innovation posts:

Image: http://innovationexcellence.com

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HQ trivia, the live game-show app that launched in July, is ridiculously hard to win, but contestant Allan Gibbons repeatedly finds a way.

Better known by his username “AllanG,” Gibbons is an HQ trivia celebrity, born from his knack for dominating the game show's daily competitions. The 28-year-old radio DJ from Owen Sound, Canada has earned more than $870 from the nine games he's won and has sat at the top of the all-time leaderboard for about two months.

Image: Meet “AllanG," one of HQ trivia's highest earning contestants ever. IMAGE: HQ SCREENSHOT 

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growth

If you ask any investor about Initial Public Offerings (IPOs), you're not likely to get an extreme range of opinions.

That's because IPOs have been around for centuries, they're heavily regulated, and they usually are reserved for companies with impressive traction as they transition to the public market through a storied exchange like the NYSE or Nasdaq.

 

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As a mentor to aspiring entrepreneurs, the most common question I get is, “I want to be an entrepreneur -- how do I start?” The obvious answer is that you need an idea first, but I’ve come to realize that the process is really much more complex than that. Many people with great ideas never make it as entrepreneurs, and true entrepreneurs can make a business out of anything.

The first myth you have to get past is that having the right idea will make you an entrepreneur. In fact, even implementing the idea into a solution doesn’t make you an entrepreneur. According to my definition and Wikipedia, an entrepreneur is someone who builds a new business. Based on my experience, creating the solution is usually the easy part of starting a successful business.

Image: http://blog.startupprofessionals.com

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gap

Innovators and early adopters – a marketing perspective More than half a century after communications professor Everett Rogers popularized the Diffusion of Innovations theory, little has changed when it comes to how new ideas are communicated and adopted.

The key characteristic of innovators has remained the same: people who create new ideas or tools that are more efficient than their predecessors. That of early adopters as well has been unchanged, or rather, amplified in the modern era of technological advancements: first customers of new companies, users of cutting-edge products, consumers of sophisticated gadgetry.

 

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