The best innovation ideas won’t always come from your own employees. A fresh set of eyes from external specialists and other organisations could be what you need to take your business to the next level. That’s where open innovation comes in.

“Regardless of how successful the company is and how talented their team is, there will always be more talented people with more knowledge outside the organisation,” says Bruno Moraes, open innovation hub Wayra’s country manager.

As a mentor to startups and new entrepreneurs, I continue to hear the refrain that business plans are no longer required for a new startup, since investors never read them anyway. People cite sources like this Inc.com article “5 Reasons Why You Don't Need a Business Plan,” or my own blog discussion on this subject, “Situations Where A Business Plan Does Not Add Value.”

Image: https://blog.startupprofessionals.com

I don’t have any career goals at the moment. I’m not worried about it.

Career progression is one of the most important stories in our culture. The American Dream. You’re supposed to start at the bottom and work your way toward the top. But you know what? The top sounds like a nightmare to me, and so do the steps in between.

I still want to get better at what I do, and I still want to learn new skills, but I’m doing those things for their own sake, not because of any sort of career plan.

What do you think of when you hear the term “virtual being”? Admittedly, this very well could be your first time hearing the phrase. Does it conjure memories of Max Headroom, that time the internet was bewildered by the Instagram influencer, Lil Miquela, or Travis Scott’s in-game Fortnite concert?

Virtual beings are an evolving phenomenon comprised of digitally-based characters that are capable of creating experiences through interaction with their terrestrial counterparts, often giving artificial intelligence a face. These avatars have applications in categories ranging from video games to beauty.

The second quarter of 2021 was the biggest quarter for venture capital activity ever, measured by dollars invested. The wave of funding led to a quarterly record of new unicorns — startups that reach the $1 billion valuation threshold — born in the United States, Asia, Europe and Canada, according to CB Insights data reviewed by The Exchange.

Data from FactSet concerning the quarter agrees. The second quarter was a record-breaker in terms of dollars invested, even if total deal volume eased some from the first quarter’s tally.

New entrepreneurs start businesses every day with great ideas and visions for success. However, many of these ideas never materialize and up to 20% fail within the first year.

This is especially true of one-person businesses, which make up a considerable portion of new companies. These "solopreneurs" may have the best intentions starting out, but many end up running out of funding or aren’t able to reach their target market.

Image: Young Entrepreneur Council members share common reasons solopreneurs fail. PHOTOS COURTESY OF THE INDIVIDUAL MEMBERS.

If you think your business has weathered the storm, think again. In addition to obvious economic challenges, the emerging generation of customers is determined to radically change the rules for customer engagement. Their expectations of relationship and personalization are taxing businesses today, and their power through social media will kill those who can’t or won’t comply.

Image: https://blog.startupprofessionals.com/

As the delta variant takes over in the U.S., new, localized outbreaks are emerging. Those surges are likely driven by pockets of dangerously low vaccination rates.

Transcript

NOEL KING, HOST:

A new analysis done by NPR and Johns Hopkins shows that COVID cases are again surging in the U.S., now specifically in places with low vaccination rates. Meanwhile, the very contagious delta variant is now the dominant strain in this country. NPR health correspondent Rob Stein has been following this one. Hey, Rob.

Quantum computing could change the world. It could transform medicine, break encryption and revolutionise communications and artificial intelligence. Companies like IBM, Microsoft and Google are racing to build reliable quantum computers. China has invested billions.

Recently, Google claimed that it had achieved quantum supremacy – the first time a quantum computer has outperformed a traditional one. But what is quantum computing? And how does it work?

What is quantum computing? Let’s start with the basics.

An ordinary computer chip uses bits. These are like tiny switches, that can either be in the off position – represented by a zero – or in the on position – represented by a one. Every app you use, website you visit and photograph you take is ultimately made up of millions of these bits in some combination of ones and zeroes.

Pittsburgh is known as the Steel City, but these days, the city is turning to startups rather than steel. Mayor Bill Peduto led this charge since taking office in 2014. He recently spoke at TechCrunch’s City Spotlight: Pittsburgh event, where he outlined the opportunity and challenges for entrepreneurs considering founding and running their companies in Western Pennsylvania.

This is a trend across the United States, as cities once again turn to small businesses, such as tech startups, to reinvigorate and inspire. But, as Peduto points out, there’s a desperate need for more venture capital. The region also struggles to retain and recruit talent, echoed by CMU’s President Farnam Jahanian, who spoke at the same event.

As the U.K. looks to boost the economy after a major COVID hit—and the looming spotlight of Brexit—the government is creating a new £1 billion public-private partnership in life sciences.

British Patient Capital, the commercial arm of the U.K. government’s British Business Bank, is kickstarting the program, funneling £200 million to “specialist funds” designed to “unlock the potential of innovative U.K. life sciences companies so that they can grow their operations and create high-skilled jobs in the U.K.,” according to the government.

Image: Current Prime Minister Boris Johnson, when Mayor of London last decade, created new life sciences hubs and investment plans. (UK Pool via AP via Newscred)

Our editor has been showcasing tech innovations online for 15 years. His research revealed unique, trending, and money-saving products. One product actually sold 2 million total units. Another was a Kickstarter sensation. Take a look at our top picks for July 2021.

Startups can now lease space in Georgia Tech’s new office space in West Midtown, an area booming with new investment.  

Encore, a 50,000-square-foot space, is part of The Interlock, a budding mixed-use development at the corner of Howell Mill and 14th Street. 

Encore is meant to be the next step for startups graduating from the Advanced Technology Development Center, a long-running incubator sponsored by the state and hosted by Georgia Tech.

Image: Georgia Tech's Encore incubator. Katie Bricker

(CNN) — Already home to the world's tallest skyscraper and the world's largest mall, Dubai has just opened another record-breaking attraction -- the deepest dive pool in the world.

With a staggering depth of 60 meters (196 feet), the pool, part of the new Deep Dive Dubai attraction -- has stolen the record from Poland's Deepspot, which has a depth of over 45 meters.

The Deep Dive Dubai pool is filled with 14 million liters of fresh water -- the volume of six Olympic-sized swimming pools -- and is at least four times bigger than any other diving pool in the world. Guinness awarded it the "Deepest swimming pool for diving" title on June 27.

Image: Deep water: The world's deepest dive pool has just opened at Deep Dive Dubai. Deep Dive Dubai

The federal lab system is an enormous, $50 billion-plus enterprise of internal research and development (R&D) across the United States. As governments around the world, including China, pour billions of dollars into advanced technologies, it is imperative that we use our nation’s federal lab ecosystem as effectively as possible.

However, because federal labs have varying legal authorities, missions, and cultures, their records of local economic engagement and technology commercialization vary considerably. Universities, by contrast, have demonstrated a strong record of supporting regional innovation ecosystems through use of place (creating incubators, research parks, and adjacent innovation districts), talent (allowing university researchers to be involved with private-sector technology under approved and managed relationships), and innovation (using intermediary university foundations to take on business aspects of technology commercialization).

The Federal Authority for Science, Technology, Entrepreneurship, and Research (FASTER) Federal Labs Act will make it possible for all federal labs to use the tried-and-true tools that universities use for economic engagement and technology commercialization. The FASTER Federal Labs Act will do this by: (i) allowing surplus federal land to be used for public-private partnership facilities, (ii) creating clearer pathways for federal researchers to work with startup companies, and (iii) authorizing a federally charted tech-transfer organization based on models established at leading research universities. The FASTER Federal Labs Act will not require significant outlay of federal appropriations as many of its provisions simply give federal labs greater discretion over deployment of existing resources. The Act can be implemented relatively easily as an add-on to legislation expected to be considered by this Congress.

If a virtual world has ever left you feeling nauseous or disorientated, you're familiar with cybersickness, and you're hardly alone. The intensity of virtual reality (VR)--whether that's standing on the edge of a waterfall in Yosemite or engaging in tank combat with your friends--creates a stomach-churning challenge for 30-80% of users.

Image: A test subject experiences a potentially stomach-churning virtual reality fly- through of a space station while her brain activity is monitored. CREDIT Maryland Blended Reality Center

With the advent of digital therapeutics, the paradigm of treatment is shifting.

To treat depression, for example, physicians not only prescribe medications but capture the patient’s behavioral changes, analyze them by using AI, and provide customized treatment through a virtual reality (VR) game or a mobile application.

Image: Jeon Hong-jin, director of Digital Therapeutics Research Center at Samsung Medical Center, called for the government to ease regulations to accelerate the commercialization of digital therapeutics. 출처 : KBR(http://www.koreabiomed.com) - https://www.koreabiomed.com

There is always a moment in fantasy fiction where we watch a heroic but everyday figure suddenly find their true purpose (think Harry Potter getting that first letter from Hogwarts).

We, the readers, know that these seemingly ordinary characters are on a collision course with destiny. It is as if they carry a set of dormant genetic markers. Once activated, our heroes are hurtled into the magical or supernatural role they were born to play.

There’s a phenomenon in psychology called the “Galatea effect,” which says that a person’s expectations about themselves determine their performance. In other words, we create self-fulfilling prophecies. 

We all start businesses for different reasons: Maybe we crave the autonomy that comes with working for ourselves. Maybe we have an idea we think will make us rich. Maybe we want a better work/life balance. 

Europe is facing significant challenges from an ageing population to increased prevalence of chronic disease, and climate change. Breakthrough innovations in biopharmaceutical therapies, the potential of digital enablers and leading technology advances offer the potential solutions to many of the challenges. I firmly believe that our industry is uniquely placed to help improve the health of our citizens as well as driving the region’s economic growth.