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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.

card

After years of preparation, Germany launched the eHealth card in October 2011. According to the Federal Ministry of Health, approximately 50 million members of Germany's statutory health insurance will have received the new card by the end of 2012. The card's rollout and the establishment of a telematic infrastructure constitute the largest IT project in Europe. The eHealth card will provide access to patients' medical data, including medications and health records, enable paperless prescriptions and referrals, as well as store patients' emergency information. In contrast to the former German insurance card, the new eHealth card includes the patient's photo and gender. This additional information will help prevent identity mix-ups as well as the abuse of medical services and benefits. Due to the complex nature of the eHealth card implementation, applications have been introduced on a step-by-step basis. In the future, the back of the card will also serve as a "European health insurance card" and allow health care access across Europe. For more information on Germany's eHealth card, visit the website of the Federal Ministry of Health.

NewImage

Hello from Boston, and from the 2012 Partners Personalized Medicine Conference, which last week brought together life science thought leaders from business, research and technology. Several themes that emerged from this year’s program:

Genomes, genomes, genomes. Previous personalized medicine conferences had tended to focus on commercialization of and reimbursement for traditional molecular diagnostics. This year, clinical genome sequencing was a pervasive theme, including one panel that featured Stanford University’s Michael Snyder, who had conducted a fascinating longitudinal study of his own genome, transcriptome, metabolome, and other parameters. Snyder said he expects to be interpreting and re-interpreting his genome for the rest of his life. John Lauerman, a reporter for Bloomberg News, had his genome sequenced this year as part of the Personal Genome Project at Harvard Medical School. The sequence revealed he has a variant called JAK2-V617F, which was suggestive of a variety of blood disorders. Lauerman confessed that he had learned much more than he had expected, but still found the experience ultimately rewarding.

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money

Minnesota entrepreneurs and their counterparts across the nation, listen up.

Two new funds are expected to launch in July to help you survive the investment valley of death.

University of Minnesota President Eric Kaler told an audience of healthcare entrepreneurs and investors Tuesday that the university will launch two funds next year, pending approval from the university’s board of regents. He was speaking at the Mid America Healthcare Venture Forum in Minneapolis.

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talking

The 2012 National SBIR/STTR Conference that was held in Portland, OR, November 13-15 was replete with information about all aspects of the SBIR/STTR program, from SBIR basics for newbies to extended agency overviews and sector specific presentations. The topic that many attendees were most anxious to learn about was progress in the implementation of the various changes to SBIR/STTR as a result of the recent program reauthorization.

Changes resulting from reauthorization are being phased in, with some already in effect and others that will be implemented throughout 2013. Probably the most challenging aspect of reauthorization is that the 11 agencies have a lot of latitude in how, and in some cases if, they adopt many of the various provisions included in the legislation. What does that mean for SBIR/STTR applicants? It means that you MUST refer to upcoming agency-specific solicitations to see what changes will be applied and how! And it means communication with relevant agency personnel can be key to your success in understanding and responding to the various changes as they are released.

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solar boat

On his first journey across the Pacific Ocean, Papa Mau was bitten by a shark, whipped by 100 mph winds, and tossed by 30 foot waves. Somehow he survived the whole 9,000 nautical mile trip from Northern California to Australia. Papa Mau now holds the world record for distance traveled by an autonomous vehicle on land or in the sea.

The surfboard-sized robot is one of Liquid Robotics’ Wave Gliders--the first marine robots that propel themselves forward with wave energy. In November 2011, four Wave Gliders took off on a slow journey (they have a top speed of one and a half knots) across the Pacific, armed with sensors that measure oil spills, salinity levels, phytoplankton activity, and more. The goal: to spark interest in marine science, foster new innovations, and prove out Liquid Robotics’ technology. All data from the journey is available for free to anyone who registers on the Liquid Robotics website.

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crowdfunding

On October 9, a Taliban-affiliated terrorist boarded a school bus in rural Pakistan and gunned down three schoolgirls, including 15 year-old women’s activist Malala Yousufzai. Miraculously, all three girls survived, but Malala sustained grave injuries and remains in critical condition. The incident provoked international outrage, but it also engendered global compassion: a few days after the shooting, a group with personal and public ties to Malala started the Malala Yousufzai Family Fund, a crowdfunding campaign to cover her medical bills and support girls’ education in Pakistan. More than 650 people have jointly donated $49,700 to the campaign, with more pouring in each day.

Despite crowdfunding’s democratic appeal — anyone can try to raise money for any idea — not everyone is on board. Gawker implored the masses to “End Online Panhandling Forever!” calling Kickstarter “begging by and for the privileged” (it’s not). Gizmodo proclaimed “We’re Done With Kickstarter,” arguing that turning an idea into reality should be more difficult than convincing “a mob of drooling, optimistic simpletons” to fund an online campaign (it is). Entrepreneur attempted to explain “Why Crowdfunding is Bad for Business” — apparently, it’s because the crowd lacks the business acumen of high-net-worth investors (irrelevant).

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Psy

New York Magazine recently broke down Korean Pop singer Psy's earnings from Gangnam Style - now the most popular YouTube video of all time. As you'd expect, he's making serious bank. The one figure that caught my eye was the magazine's breakdown of Psy's YouTube profits, which it estimated at $1.7 million, or to be precise with view numbers from today, $1,763,764.63. 

That figure was calculated based off the standard YouTube partner rate of a $2 CPM, meaning for every 1,000 views Psy receives $2 if he is running ads on his video, which he is. Psy isn't running the relatively unobtrusive TrueView ads that let you skip after the first couple of seconds either, he is running big-brand long-form ads, so Psy could very well be making more, or less, depending on what kind of partnership he has with YouTube. We'll never know, as partners are not supposed to reveal this information. (Mahola CEO and longtime YouTuber Jason Calacanis is cited as providing the magazine with the CPM information.)

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women entrepreneurs

There's a quiet movement gaining momentum: increasing the number of women investors. As we see more women taking reins of companies and filling seats on corporate boards, the number of female investors has lagged. Studies show that women make up just 10-15% of angel investors and venture capitalists. Fortunately, this is beginning to change.

For companies with high growth business models, investment patterns generally follow a path of bootstrapping, friends and family funding, taking angel investments, then seeking venture capital or corporate investments. While it's not difficult to imagine a woman investing in the company in a friends and family round, the path gets more tenuous at the angel investing stage. Angel investing has high barriers to entry both personally and professionally. It requires not only existing personal capital to invest, but also a savvy for a particular industry, possible success as an entrepreneur in that industry, an understanding of the business side, and a collaborative network of like-minded investors. One deal as an angel investor can require a hundred of hours of time on deal screening and due diligence, with only a 10% likelihood of success. Seasoned angel investors generally invest in dozens of companies over several years, spreading the risk. It takes moxie, a passion for entrepreneurs or startups, a high level of risk tolerance, a strong stomach, and a large pocketbook.

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reef

When we talk about innovation, we often focus on individuals. Take the endless fascination with Steve Jobs as an innovative leader, or our innate tendency to attribute a discovery to a single inventor. In business, we generally identify good innovators and nurture their ability to generate creative practical solutions to new problems. There is less focus on the kinds of structures that promote a culture of innovation.

At the IC2 Institute at the University of Texas, we have been exploring the ecosystem of innovation using the Austin Technology Incubator (ATI) as a model. While traditional incubators focus on providing inexpensive space and business advice for new companies, ATI, under director Isaac Barchas, helps early-stage technology companies to get their first round of funding.

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the immigrant exodus

In 2005, immigrant entrepreneurs launched 52% of all startups in Silicon Valley. But today, the number has dropped to 44%, and America is not only losing the opportunity to create new jobs but also losing its competitive edge, argues Vivek Wadhwa in his short, passionately argued book, The Immigrant Exodus: Why America Is Losing the Global Race to Capture Entrepreneurial Talent. Unlike during the 1980s, when skilled immigrants could get green cards (that let them become permanent residents of the U.S.) in as little as 18 months, today it can take as long as 17 years. Failure to fix this problem, says Wadhwa in an interview with Knowledge@Wharton, is killing American innovation and entrepreneurship.

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Dr. Janice Presser

I've been wearing my earbuds while working out on the treadmill lately, to keep out the random noise of the gym. Lately I've taken to blasting a bit of the music of my generation through them. Who knew the Rolling Stones could be so good for motivation?

But, after hearing Mick complain for about the fortieth time that he was not getting any satisfaction, I thought to myself: "Gee. Maybe his job just isn't a good fit for his Role."

For any readers who don't immediately get what I mean, a person's Role (as identified by our 'technology of teaming') describes the manner or mode in which the person seeks to make meaningful contributions to their 'team'.

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grotech ventures

Grotech Ventures has been selected as the first private venture capital firm to receive funds to invest through the state’s $84 million InvestMaryland program. The newly launched program has previously given awards directly to early stage technology companies. Grotech Ventures, with offices in Hunt Valley and Tysons Corner, Va., received $12 million from InvestMaryland to invest in early-stage companies in Maryland. If the investments are successful, the firm is expected to repay the funds and 80 percent of the profits to the state.

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graphic

As we progress into the next year of 2013 we wonder how many companies will keep up with what consumers want, which are greener and healthier products. The world has become more Eco friendly over the last few years and manufacturers know that in order to please consumers they need to be offering green eco-friendly products that meets their demands, it has become somewhat of a standard practice.

The infographic below which you are about to see looks at the value of green, showing you why companies should be green over time and what benefit this has for them. In addition, the infographic looks at the consumerís voice, what do people have to say to manufacturers? In a survey result you will see the answer. As time proceeds forward you will see how countries acted in the green improvement act and one of the questions answered is did their carbon emission get lower or higher; over time the answer is produced.

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eggs

Ryan Holmes, CEO of Hootsuite, crystal balls the future of social so you're not stuck with--gasp--Twitter 101-level skills.

Will Facebook continue its reign atop the social hierarchy? Will businesses get better returns on their social media investment? Will your CEO finally learn to tweet? Here’s a look at the biggest social media trends set to unfold in the year ahead.

Mobile social media usage continues to soar: In September, Facebook made a monumental--if little noted--revelation in a quarterly SEC filing: "(We) anticipate that the rate of growth in mobile usage will exceed the growth in usage through personal computers for the foreseeable future.” Mobile Internet users are set to overtake wired Internet users by 2015 in the U.S., but this shift is happening far faster on social platforms.

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HealthDay

SUNDAY, Dec. 2 (HealthDay News) -- If you ski or snowboard, a new study offers vital safety information: Helmets do reduce the risk of head injuries and save lives.

The study also found that the use of helmets does not give skiers and snowboarders a false sense of security that might lead them to take risks that might boost their risk of injury.

The findings, from a review of 16 published studies, appear in the November issue of the Journal of Trauma and Acute Care Surgery.

"There really is a great case to be made for wearing helmets," study leader Dr. Adil Haider, an associate professor of surgery at the Johns Hopkins University School of Medicine, said in a Hopkins news release. "By increasing awareness and giving people scientific proof, we hope behavior changes will follow."

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cell phone

When I was 16, I spent a summer studying Spanish in Spain. Armed with a pocket-sized Spanish-English electronic dictionary—high-tech at the time— I stumbled through the country.

Now language translation apps for smartphones can do much, much more than that old plastic device with the rubbery buttons and one-line display. Many of them let you speak or type a question in English and have that instantly translated into a foreign tongue, which the app can speak out loud or display on the phone’s screen. A response from a local can be translated right back into English for you. A single app may include the ability to translate dozens of languages—more than a backpack full of dictionaries.

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philadelphia

An Abington High School graduate-turned-private equity magnate - a man wealthy enough to hire Rod Stewart and Patti LaBelle to play at his birthday party - will spend $3 million to launch an entrepreneurship program in the Philadelphia area.

Technically, the money comes from the Blackstone Charitable Foundation, the nonprofit arm of the Blackstone Group, a publicly traded $3.2 billion private equity fund led by Stephen A. Schwarzman, whose name graces the high school stadium.

But the push behind the Blackstone LaunchPad comes from Schwarzman, co-founder of the New York company.

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the love of money

I’ve noticed that most young entrepreneurs are more socially conscious today than ever before, which is a great trend. Unfortunately, some are so focused on this principle that they forget that every business, even non-profits, have to practice the basic principals of capitalism (build a business model to make money) to cover their costs to do good things another day.

Examples of profitable companies practicing this model include Trader Joe’s, led by Doug Rauch as retired president, now CEO of Conscious Capitalism®, and the Container Store, led by Kip Tindell. Both of these are purpose-driven businesses that boast high growth, high loyalty, and very low employee turnover. You can find a dozen more on the Conscious Capitalism web site.

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