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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.

Democrats Nod to Entrepreneurs, Focus on Workers

President Barack Obama and Republican candidate Mitt Romney had one thing in common in their convention speeches: They both mentioned epic entrepreneur Steve Jobs. Overall, however, the Democratic National Convention was more focused on supporting middle-class workers while the GOP's event was more centered on promoting private-sector businesses.

The way the two candidates talked about the late Jobs is illustrative of how they address entrepreneurship in their campaigns. In his nominee acceptance speech, Romney spoke about the Apple Inc. co-founder to spotlight the risks and struggles involved in business, explaining how Jobs was fired before he returned to the company “and changed the world.” Meanwhile, Obama mentioned Steve Jobs as he spoke about the nation's responsibility to take care of its citizens, especially the less fortunate -- a dominant theme in Thursday's address in Charlotte, N.C.

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Something Ventured

Wharton Entrepreneurship held an on-campus screening last month of the documentary film ‘Something Ventured,’at Wharton | San Francisco that was hosted by Ashmeet Sidana (WG’03), General Partner, Foundation Capital.  The documentary tells the story of the creation of the venture industry and how it went on to become the “single greatest engine of innovation and economic growth in the 20th century.”  The movie was conceived by Paul Holland, General Partner, Foundation Capital, co-produced by Mr. Holland and Molly Davis of Rainmaker Communications, and directed by Emmy-Award-winning filmmakers Dan Geller and Dayna Goldfine.

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Steve Blank

Everyone has events that shape the rest of their lives.  This was one of mine. ——- I’ve never been shot at. Much braver men I once worked with faced that every day. But for a year and a half I saw weapons of war take off every day with bombs hanging under the wings. It never really hit home until the day I realized some of the planes didn’t come back. Life in a War Zone In the early 1970’s the U.S. was fully engaged in the war in Vietnam. Most of the fighter planes used to support the war were based in Thailand, or from aircraft carriers (or for some B-52 bombers, in Guam.)  I was 19, in the middle of a hot war learning how to repair electronics as fast as I could. It was everything life could throw at you at one time with minimum direction and almost no rules.

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5 Crowdfunding Tips From a Space Nerd

Last week, an unconventional Kickstarter project gained Internet fame and soared past its funding goal within days of launching. Its mission? A lunar elevator experiment simulating a two-kilometer climb from the moon’s surface into space. 

The project’s leader is Michael Laine, space enthusiast and former NASA contractor. On his Kickstarter page, Laine asked for $8,000 to run the test, which involves robots and helium balloons tethered to the ground. Laine, who said he’s been called a “crazy space cowboy,” insists he’s grounded. 

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Creating Combustible Marketing

We heard today that Michael Strahan — the former defensive end of the New York Giants, a NFL record holder, and a Super Bowl winner — is the permanent replacement for Regis Philbin on the morning show once called Live with Regis and Kelly.

Strahan was an easy choice in some ways. He's so high profile that he may well be visible from outer-space. He is also the kind of guy you like to like. And, as corny as this may sound, he makes the world seem a happier, more generous place.

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The Nanmen Port in Chongming, China, which is the sister city to Lakeland, Fla. (Photo: rsun42/Flickr CC)

Pinneberg, Germany. Lakeland, Fla. – Chongming, China. Birmingham, Ala. - Guadiawaye, Senegal.

These pairings may appear to be unlikely twins, but all of them are “sister cities,” a relationship for cultural or economic exchanges which, in general, benefits both.

There are hundreds of sister city relationships between U.S. municipalities and foreign cities. Some cities have just one “sister.” Some have as many as a dozen. Some are formal arrangements with regularly scheduled events; others are informal exchanges of students or business leaders.

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Mycobacterium tuberculosis bacteri

After solving the structure of an enzyme from the tuberculosis bacterium, researchers from Stanford University in Palo Alto created a probe that lights up when the enzyme is present, potentially reducing false negatives inherent to the current diagnostic methods.  The results were published this week (September 2) in Nature Chemistry.

Mycobacterium tuberculosis, the causative agent of tuberculosis, produces and secretes the enzyme BlaC, which breaks down proteins like β-lactams, present in many antibiotics including penicillin.  Once researchers solved the enzyme’s structure, they were able to design a molecule similar to β-lactam, but which would fluoresce a bright blue glow when broken down by BlaC.

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Eleanor Mitchell, Commercialisation Director of Scottish Enterprise

It’s an exhausting and fraught process translating novel science through to the market, but before the process can even get underway, academics must be tempted to move out of their comfort zone and encouraged to focus on the commercial potential of their research.

This aspect of technology transfer continues to be a struggle, according to one of the veterans of the field, Eleanor Mitchell, describing the approach taken by the commercialisation body Scottish Enterprise in supporting academics to take technology out the lab and onto the marketplace.

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Christopher Columbus as a Model for Innovators

I’ve had the chance to meet and speak with a lot of people who are interested in creating more innovation in their organizations.  Some of them have been asked to lead an innovation effort, and some are just interested in becoming more innovative themselves.

Most understand that innovation isn’t an activity or a project, but few understand the amount of investment, work and change management required to sustain innovation beyond an initial attempt.  In this way I think we can look to the past for figures who represent the challenges and opportunities that are presented to innovators.  Perhaps no figure represents the highs and lows of innovation like Christopher Columbus.  And few other figures demonstrate the consistency of purpose, dogged determination and singular focus that’s necessary for innovators to succeed.

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Jump

Summer is over, and for most small business owners, that means the slow season is coming to a close and it’s time to get back to work with renewed enthusiasm. With Labor Day (a holiday created to honor working people) just past, it’s also a good time to sit down and take a look at the state of your small business’s work force.

Is your staff as enthusiastic about your business as you are? In other words, how is their morale?

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The Truth About Convertible Debt at Startups and The Hidden Terms You Didn’t Understand

Ah. We’re back to discussing convertible debt again. This time by the efforts of Adeo Ressi to introduce a new kind of structure called “convertible equity.”

I applaud all efforts by people to take on this issue and especially be Adeo who – let’s be honest – was really the first champion of trying to make the VC world more transparent by launching TheFunded, which didn’t exactly endear him to VCs initially.

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How to Be More Charismatic: 10 Tips | Inc.com

Charisma isn't something you have. It's something you earn. Here's how.

Some people instantly make us feel important. Some people instantly make us feel special. Some people light up a room just by walking in.

We can't always define it, but some people have it: They're naturally charismatic.

Unfortunately, natural charisma quickly loses its impact. Familiarity breeds, well, familiarity.

But some people are remarkably charismatic: They build and maintain great relationships, consistently influence (in a good way) the people around them, consistently make people feel better about themselves--they're the kind of people everyone wants to be around...and wants to be.

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Job Interviews: 5 Questions Great Candidates Ask | Inc.com

Be honest. Raise your hand if you feel the part of the job interview where you ask the candidate, "Do you have any questions for me?" is almost always a waste of time.

Thought so.

The problem is most candidates don't actually care about your answers; they just hope to make themselves look good by asking "smart" questions. To them, what they ask is more important than how you answer.

Great candidates ask questions they want answered because they're evaluating you, your company--and whether they really want to work for you.

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An Entrepreneur With No Strategic Plan is a Dreamer

Deciding to be an entrepreneur is a lifestyle move, and should be part of a long-term strategic plan. You shouldn’t be making this decision just because you are mad at your boss, you would like to be rich, or someone else thinks it’s a good idea. In these changing times, if you already have a startup, with no plan, maybe it’s time to think ahead for a change.

Formally, that’s called developing and maintaining a strategic plan. Usually that means writing something down, since it’s hard to maintain something, or track yourself against it, if it’s not written down. From my experience, and the experience of other entrepreneurs, here are the key elements you should think about as part of the process:

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Feast then Famine

This election year, Republicans and Democrats will agree on little, including how to get the U.S. economy growing. Higher taxes or smaller government? One path to growth that is widely agreed upon is technological innovation, which has historically been closely associated with the American venture-capital-backed startup company.

A single dollar of venture capital, one study suggests, is as effective at boosting new ideas as three dollars of corporate investment in R&D. If we listened to trade bodies such as the National Venture Capital Association, we might conclude that to get more innovation, all we need is more venture capital.

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Psst, Student Innovators: The World's Biggest Tech Competition Wants You

Recently, visitors to the Bloomberg Businessweek Business School Forums discussed the MBA programs that offer the best courses for budding entrepreneurs. Indeed, many business schools promise to help students hone their entrepreneurial skills through concentrations and electives.

These questions prompted another: Can you teach entrepreneurship, or is it innate? Does one need an MBA to start a business that will be successful? These are age-old questions, but they deserve attention, so these aspiring entrepreneurs can decide which route is best for them. So, what do you think? Share your opinion at the “Can you teach entrepreneurship?” discussion thread.

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4 Essentials of Entrepreneurship

Half of business including entrepreneurship is mental (if not more).  As small business owners, we encounter both the good and the bad; we get lucky and have misfortune cross our path.

In order to survive and even thrive, the entrepreneur must become relentless in their pursuit of owning a successful, lucrative business that is fulfilling and challenging.  They must learn, learn and learn some more.

Entrepreneurs must also consistently incorporate certain philosophies that increase their odds for success and allow them to dig themselves out of the downs and better enjoy the ups that come with small business ownership.

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Young Entrepreneur

If the average age of a tech company entrepreneur is nearly 40, can younger founders achieve the same level of success, recognition, and respect? Sure, so long as younger entrepreneurs recognize that there are some things they must do in order to thrive. After talking to communities made up of entrepreneurs in their twenties, here’s what we’ve learned that’s worth passing on.

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