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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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The Covid-19 pandemic has nearly instantly and very dramatically pivoted the priorities of some makers, start-up founders, entrepreneurs, researchers and doers — the innovators — to solving problems related to the pandemic and preparing for any in the future.

Image: The Outschool team at their headquarters in San Francisco.Photo Credit: https://triplebyte.com/

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The ongoing pandemic is fertile ground for opportunistic hucksters, loud frauds, and coronavirus deniers who attack or blame everyone and everything from Chinese-Americans to Bill Gates to 5G networks. The latest front in this bizarre war: contact tracing.

Tracing is the technique public health workers use to identify carriers of an infectious disease and then uncover who else they may have exposed, in an effort to isolate those at risk and halt the illness’s spread. It’s a time-tested investigation method used to successfully fight outbreaks of diseases including measles, HIV, and Ebola.

 

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Senior executives are now rightly worried about what the crisis and subsequent downturn mean. While the concern is understandable, leaders must remember that downturns can be a great time to grow. The challenge, therefore, is not just to get through this period but to survive it in such a way that you can reset in order to thrive.  That depends on decisions you have to take now — and many of the right ones may not be the obvious ones.

Image: Illustration by Maxwell Holyoke-Hirsch

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In a time of heightened uncertainty, skyrocketing unemployment, and plummeting revenues, many startups are wondering if it's the right time to raise capital. 

According to Kevin O'Leary, great companies that are growing always need money. In a webinar with StartEngine CEO, Howard Marks, the "Shark Tank" judge said equity crowdfunding will have to pick up the baton from venture capital firms. 

Image: https://en.wikipedia.org/wiki/Kevin_O%27Leary

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The Trump administration will impose limits on how much individual banks can lend under the Paycheck Protection Program (PPP) due to the program's high demand among businesses seeking relief from effects of the coronavirus pandemic.

Reuters reported Sunday that the Small Business Administration will limit individual banks and lenders to 10 percent of the program's overall funding, or $60 billion, and direct financial institutions to slow the pace of applications for the program.

 

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Every business professional and entrepreneur believes they are good communicators, but how do they know? It’s really the perception of the recipients that counts, and poor communicators are almost always poor listeners, so they don’t hear the shortcomings. Warren Buffet once told a class of business students that better communication could boost their value by fifty percent.

 

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Banners and Alerts and Dr Anthony Fauci Not Overly Confident With US COVID 19 Testing TIME

Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases and member of the White House Coronavirus Task Force, says “we are not in a situation where we can say we are exactly where we want to be with regard to testing” capacity for COVID-19 in the U.S.

Fauci, in a discussion for TIME 100 Talks: Finding Hope on Thursday, says that the U.S. needs to not only increase the number of tests, which is happening as commercial testing companies increase production and the Food and Drug Administration continues to clear tests using different types of samples (including ones from the nose and saliva, as well as blood).

Image: https://time.com - From Video

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Collaboration Proposal COVID 19

We at Gentian AS believe it is the duty of all companies in the health industry to help combat the ongoing pandemic of COVID-19/Corona virus. High mortality and long hospitalisation are the consequences of the severe cases with COVID-19 pneumonia. Hence, it is important to identify biomarkers that early could aid in rapid and effective identification of the severely affected patients. In the Gentian test portfolio, the two biomarkers, cystatin C and plasma calprotectin, could be useful for the early detection of the severely affected COVID-19 patients. To do our part we are reaching out to research/hospital institutions who want to run a trial to assess whether these biomarkers can make a contribution in the detection of severe COVID-19 cases.

 

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Almost every entrepreneur starts their journey by developing a solution, based on their idea of a new technology or required service. These idea and developer skills are necessary, but not sufficient, to build a business. A real business requires leadership – thought leadership to attract customers and mind share, as well as people leadership around a team, partners, and investors.

Image: https://blog.startupprofessionals.com

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Oliver Isaacs

If your mind is reeling with tons of potential business ideas but you never find the courage to turn them into reality, or if you’re already mid-venture and find you doubt yourself more often than not, it might be time to work on your approach to how you do business during these uncertain times.

Being an entrepreneur is not just about creativity and ambition – it’s also having the right mindset to make things happen. Luckily, there are ways in which you can train your mind to be more successful in all things business.

 

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Suzy Taherian

With all that has changed after this health crisis, it’s relevant to revisit the venture capital industry to understand how it’s changed. While in the short-term all VCs are doing a quick evaluation of their portfolio companies and making adjustments as needed, the long-term outlook for venture capital investing is still positive.

 

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Most of us have had minor setbacks at work. But how do you recover from a setback so big that it causes you to lose your job or completely derails your career?

An up-to-date LinkedIn profile and your existing professional network will only get you so far. The changes you need to make, and the realities you need to accept, are much more significant.

 

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It’s the first of October and Route 92 into town is lined with trees dressed with greens, oranges, and yellows. Autumn is refreshingly crisp and colorful here in Green Bank, West Virginia. The road winds and curves past a convenience store, a school, a library, and a post office. There are no shopping plazas, fast food restaurants, office buildings, or apartment complexes here. There’s also no cell service.

What is here, though, is one of the world’s most important facilities for the understanding of our universe.

 

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Small towns going from economic development to survival mode Business postbulletin com

CHATFIELD — The focus on Main Street in small-town Minnesota has shifted. 

"There's a shift toward economic survival," said Chris Giesen, vice president for Community and Economic Development Associates, a Chatfield-based economic development agency. "A lot of businesses are looking at resiliency and how are we resilient when we come out of this."

Image: Tracy Westcott - https://www.postbulletin.com

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Meet Violet the Robot That Can Kill Coronavirus Time

In just a few months, the COVID-19 pandemic has crossed borders and oceans, killing thousands, sickening millions, and forcing millions more to reckon with the economic and personal chaos of closures and lockdowns.

Yet as the global infection count rises, the crisis has also given rise to acts of ingenuity. The pandemic has set off a global race for both an effective vaccine and for the accurate, rapid-response tests that will be necessary before workplaces can safely reopen. Vaccines and tests are essential, but they’re not the only front on which to combat the virus.

Image: https://time.com - From Video

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ANNAPOLIS, MD—After weeks of consulting with leading scientists, business leaders, and public health experts, Governor Larry Hogan today introduced the ‘Maryland Strong: Roadmap to Recovery,’ which provides a safe, effective, and gradual approach to reopening the state as it continues to combat the COVID-19 pandemic.

“As we begin to reopen, it will continue to be important for Marylanders, particularly older and more vulnerable Marylanders, to continue to stay home as much as they can,” said Governor Hogan. “All Marylanders should continue to avoid crowds and gatherings, and they should continue to practice physical distancing and to take precautions to protect themselves, their families, and their fellow Marylanders. Together, we are going to defeat this virus, and together, the State of Maryland will return stronger and better than ever.”

Image: https://governor.maryland.gov/

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As the coronavirus pandemic forces Europeans to stay at home and leaves companies fretting about economic consequences, startup founders across the region are wondering what to do about cash, debt and staff.

Fundraising aside, attention is turning to day-to-day costs and cashflow.

“As always when the wind turns and skies turn grey, as a startup you need to mind your costs and come back to the basics of cash management,” says Albin Serviant, chief executive of company builder Founders Factory in Paris.

 

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The COVID 19 chronicles How venture capitalists are adjusting to our new normal

Much like everyone and everything else, Michigan's growing venture capital community has gone inside as COVID-19 continues to pound the state and country.

But still, work and life must go on.

Crain's asked a handful of Michigan venture capitalists and financiers to share their accounts of how they're navigating the day-to-day of working with their teams and their existing portfolios, all while juggling family life at home.

Image: Charlie Rothstein Charlie Rothstein in his home office. The founder and senior managing director of Beringea checks in on his team, entrepreneurs and partners daily.

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