I have a certain friend who called me a while back, all excited about his latest revelation. “What if you could go to a web site and find all the recipes you could make today, with just the ingredients you already have in your kitchen? I’m going to start a website to offer this service!”

I’m sure you all realize that there could be quite a distance between a great idea and a great startup. But many people don’t have a clue on how to bridge the gap. So, trying carefully not to rain on his parade, I suggested to my friend that he complete the following analysis as due diligence on the idea before spending his life savings (and others) to roll out a solution:

Competitors are few. Use Google or one of the many other search engines to search for existing solutions to this problem. A search argument like “recipes from the ingredients you have on hand” might be the place to start. If you find ten competitors who already have this offering, it’s probably not worth going any further.

I met with a group of very experienced and sophisticated investors yesterday who make up the investment committee of a large charitable foundation that is an investor in USV. I gave them a two minute brief on our macro investment thesis (large networks of engaged users that can disrupt big markets) and then took them on a tour of some of these large networks (Lending Club, Kickstarter, Etsy, Twitter, and Codecademy).  Then I took questions.

This group doesn't spend a ton of time on AVC, Techmeme, Hacker News, or the tech industry in general. And yet the questions they asked me were as good as I ever get. I guess four decades of investing teaches you a lot.

In a world where knowledge workers are more in demand than ever, students must be able to keep pace with the evolving technical needs of employers. Visit The Chronicle's Online Learning microsite to learn how colleges are working with top education companies to prepare students for life after graduation.

Applications are now open for ZeroTo510, a program designed to help entrepreneurs bring medical device products and companies to market, and are being accepted now through April 5. ZeroTo510 is a unique, entrepreneurial accelerator program that focuses on leveraging the regional strength of the Memphis area in medical device research and manufacturing. The goal of ZeroTo510 is to help medical device entrepreneurs navigate the start-up process, refine business models and achieve the Food and Drug Administration’s 510(k) pre-market notification filing.

Cash is the fuel of every startup. Your burn rate is the rate at which that money is being spent, and allows an estimate of how long you can go before refueling (runway). That refueling is when you will need more investment, or when you will break even and begin that steep profitable growth curve.

Investors also look at your burn rate to see how efficient and effective you are at running the business. It continually amazes me how two startups, seemingly comparable in stage and objective, can be so far apart in their burn rate. One can build a new website application for $10,000 per month, while another is burning $50,000 per month. Which would you bet on?

In traditional thinking, being competitive in the global marketplace requires a significant investment in time and resources. But the reality is that any organization today can take advantage of open innovation to innovate faster and cheaper than ever before, positioning them as true competition in the industry. This article will explore the top five ways SMEs can leverage open innovation.

Industrial innovation processes are becoming more open. The large, vertically integrated R&D laboratory systems of the 20th century are giving way to more vertically disintegrated networks of innovation that connect numerous companies into ecosystems. Since innovation policy ultimately rests on the activities and initiatives of the private sector, it is vital that policy follows this evolution. Read more in the report from ESADE Business School in Barcelona and the Science|Business Innovation Board AISBL.

Thuuz Co-Founder and CEO Warren Packard appreciates how uncertainty is a constant force in the lives of entrepreneurs. Sharing stories from his career as an entrepreneur and venture capitalist, Packard captures how life is a series of decisions made without complete information. He also addresses how his current venture approaches issues of funding and strategic partnerships.

To create a healthy startup ecosystem, you need predators.

That's why it can feel rough in Silicon Valley when you're running a startup. Like you're swimming with sharks.

"VCs, maybe are like predatory sharks, but they also provide the nutrients that prime the pump," Eric Berlow, a University of California at Berkeley ecologist, and founder of Tru North Labs.

"If they were just 'consuming' startups and not 'feeding them', then there would be no startups."

How’s your small business leadership? Quality leadership is even more important during tough times. Here are some considerations for improving the leadership qualities you bring to your small business venture.

Tips & Trends

12 leadership tips you should know. Here are some suggestions that will transform your leadership style and have you performing more effectively in good times and in bad. These are tips every entrepreneur should internalize. Have you got some suggestions to answer? Entrepreneur

The University of Michigan's Technology Transfer Office served as the model for a new initiative with six other Michigan public universities to accelerate technology commercialization by connecting entrepreneurs and experts to ideas and intellectual property.

With a grant from the Michigan Economic Development Corp., U-M formed a $2.4 million program called the Tech Transfer Talent Network. Other members of the initiative are Wayne State University, Michigan State University, Michigan Technological University, Western Michigan University, Grand Valley State University and Oakland University.

When John Hering, CEO and cofounder of Lookout Mobile Security, was featured in BusinessWeek as one of the best young tech entrepreneurs, he told the magazine that the "toughest decision" he ever made as an executive was moving his startup from L.A. to San Francisco.

What didn't get reported was that a 73-year-old named Philip Paul had advised Hering to make the move, in order to be closer to investors. Paul, a gray-haired financier who appears nowhere in Lookout's roster of executives or founders, nevertheless holds one of the most important title's in Hering's life: that of mentor.

As technology entrepreneurs seemingly get younger and younger, it's easy to forget that the difference between a bright technology idea and business success often comes down to the advice and connections of older advisors.

Mr. Sean Greene, SBA's Associate Administrator for Investment and Innovation (and SBIR's Capo di tutti capo) has just posted "Implementing the SBIR and STTR Reauthorization: Our Plan of Attack," on the SBA's blog.

The post is done in Greene's engaging but relaxed style, and will enlighten you (as much as possible at this time) as to the procedures and projected timelines to implementation of the new SBIR and STTR provisions.

The main blog post (well formatted) is located at: http://community.sba.gov/community/blogs/official-sba-news-and-views/open-business/implementing-sbir-and-sttr-reauthorization-our-plan-attack

E.ON invites public to shape “Home of the Future” with open innovation platform from 100%Open and Chaordix

E.ON has launched this week a nationwide online community to help generate innovative ideas and help the UK save energy in an initiative managed by 100%Open and powered by Chaordix.

The project represents the next stage of E.ON Innovation, a co-creation programme with E.ON’s customers to develop new products and services. Launched in 2010, E.ON Innovation has so far resulted in the development of four new product and service propositions, with members of the public being rewarded for their winning idea contributions. Encouraged by that success and the subsequent challenge around Electric Vehicles, E.ON Innovation is now launching a wider mainstream customer co-creation platform in connection with Channel 4’s documentary series ‘Home of Future with E.ON’.

Overview: Identifying New Technology Partners and Streamlining the Open Innovation Process

When it comes to open innovation, intellectual property is typically not a factor until the due diligence phase of the project. But by integrating IP mining into the early stages, organizations can spot technology trends, develop competitive landscapes and benchmark IP portfolios in order to better identify new technology partners and streamline the open innovation process. Technology Innovators should attend this webinar to learn:

• How to spot technology trends, develop competitive landscapes and benchmark IP portfolios
• To discover new ways to leverage current IP portfolios for faster, more targeted analysis and development
• How to identify competitors for a given technology, market/technology adjacencies or licensing/partnership candidates
• To define and explore technology landscapes, find patented technologies and mine for connections, enablers and adjacencies

What do Mark Zuckerberg, Michael Dell and Bill Gates have in common? They all founded their respective companies while still in college.

If you dream of becoming an entrepreneur, you don’t have to wait until you graduate. Even if you don’t end up creating the next Facebook, you can gain valuable experience and make money from your venture. Take a look at the 10 Coolest College Start-Ups of 2011 as selected by Inc.com for some examples of students starting companies you probably haven’t heard of before.

On popular demand, we are again organizing the Online Seminar on “How to raise Funds from US Foundations” on February 28, 2012 at 16:00-17:30 GMT at a new time convenient to participants from the Western Hemisphere and the Americas.

Read more below or book your Seat now by clicking here to register instantly!

Introduction

In these challenging times, NGO managers and fundraisers are under more pressure than ever to diversify their funding sources. While sources of funding are numerous, identifying viable prospects, and navigating the complexities of applying can be extremely challenging.  As a consequence numerous sources are overlooked and NGOs get often discouraged by the complexity of donor’s systems ending up with not even applying for those funds.

It’s easy to watch a hotshot young executive – or poet, painter, or filmmaker – and wonder if creativity is the province of the young. (Silicon Valley certainly loves to bet on the 20-something Zuckerbergs of the world.) But Jonah Lehrer, author of the new Imagine: How Creativity Works, doesn’t buy it: “There’s nothing inevitable about a decline of creativity over time,” he said in a recent interview. Instead, any executive can take steps to ensure their ideas stay fresh, vital, and relevant.

As one of the most important national treasures, traditional Chinese medicine (TCM) has gained more and more attention at home and abroad. More college students have chosen to study TCM as their major. The following universities, featuring complete disciplines and accomplished faculty, are renowned as the best places to study TCM.

Connecticut Innovations is launching its latest new initiative that will provide funding to entrepreneurs and small businesses participating in the federal Small Business Innovation Research (SBIR) program.

The Connecticut SBIR Acceleration and Commercialization Program will provide funding to help small businesses address their needs as they grow emerging technology companies. Program funding, which will total $4 million, may also be used to foster partnerships between small businesses and universities, as well as other collaborators, through joint technology development efforts.