Imagine us, deciding to start a software company, without any experience, resources, or a golden idea. I told this story at LeanCoffeeTO a few weeks back, and since it was well-received, I'd like to share it with you here.

For the sake of this article, let's say the objective of a startup is to build a piece of software that can make a lot of money, or attract a lot of users. And let's also assume that building a piece of software that can accomplish these goals needs significant time and energy to slip into profitability. Finding a way to sustain the company until that time arrives is just a reality of doing business, and that sustenance comes in many forms. I believe this is the defining question for any startup, and the answer you choose will influence the startup you build.

Phil Brennan is a renaissance man. An Irishman who now calls Akron, Ohio home, he’s been an actor, a brand manager and a Fortune 50 business leader, having launched more than 200 new products into the marketplace over the course of his career.

Since 2006, he has added “cleantech entrepreneur” to his resume. As the CEO of Echogen Power Systems, Phil is leading a 20-person team in the final stages of commercializing a thermal heat engine. When placed into a factory smokestack, the engine harvests the heat escaping out of the smokestack, converting it into electricity used to power the factory and, depending on the size of the heat engine, homes in the neighboring area.

You are hereby invited to join my journey as I endeavor to use crowdfunding as a 21st century alternative to angel investment fundraising.

Crowdfunding, as the name implies, allows virtually everyone to invest in early stage companies -- not just rich people. Allowing small investors to participate in what has otherwise been limited to a very small group of high net worth investors is creating a tremendous source of new capital for entrepreneurs. Imagine if the general public had been able to invest in Google from the very

Today’s entrepreneur is emboldened by choice — the choice to select from an ever-growing list of startup accelerators, or incubators as they’re often called, that provide guidance from industry veterans and a pittance of cash to cover operating costs.

Variances in reputation, funding-to-equity ratios and post-graduation funding opportunities separate these accelerators. Not all are created equal, and few measure up

Former Morgan Stanley analyst Mary Meeker, now at Kleiner Perkins, is famous for her amazing slideshow presentations about the future of the Internet, the rise of mobile computing, and new business models.

Here's her latest presentation, which, according to TechCrunch, she'll be delivering today with Matt Murphy at a Google event.

It’s great to dream big, but your startup needs a laser focus in the beginning to get market and investor attention. Google did it with search engines, Apple did it with a personal computer, and even Wal-Mart did it through low prices. A business plan I saw a while back to combine all the good features of several popular social networks on one site does not do it.

Trying to do everything at once probably means that none of the items will be done well. Plus it’s almost impossible to craft a message that will make your offering stand out in the minds of customers. I can’t think of a company that launched to superstardom with a broad focus. Can you?

A comprehensive look at the scientific, commercial and economic development accomplishments in New York City's growing bioscience industry during the past year

What's inside

• Funding successes and advancements made by bioscience companies in NYC
• Science highlights from NYC's top academic medical centers
• Chronicle of the City's commitment to the biotech sector

Few historical figures are as divisive and polarizing as Niccolo Machiavelli. The fact that this Renaissance philosophers works date back 500 years hasn’t blunted its impact or controversy one bit.

Some view him as the father of modern materialism, inspiring people to do or say anything to achieve personal gain, i.e. the ends justify the means. Indeed, the word Machiavellian - derived from his most famous work, The Prince - has come to mean cunning, deceit, and manipulation.

Others, however, see him as the world’s first great realist and a positive influence on modern politics and capitalism. Some even think Machiavelli was the first to apply empirical scientific methods to human behavior by making innovative generalizations based on experience, observation, and history.

There are several states in the U.S. that are losing the eduction race to most of the others. In the past decade, these states have declining math and reading scores, lower numbers of people with bachelor’s degrees, and comparatively fewer residents who hold white collar jobs. Colorado, Michigan, and eight others are losing this competition to states who have residents that are better educated and who have done a better job obtaining higher quality jobs. These failing states have lost ground compared to the national average.

The recent State of the Union address, and almost any sweeping political speech or document that writes or speaks about unemployment and future competition for jobs, impresses the point that a well educated workforce–a smart workforce–has comparative advantages. Regions with better-educated people tend to find it easier to draw and retain businesses. These regions are also likely to be more competitive in contrast to nations around the world like China, which has posted sharp increases in the level of educational attainment among its citizens.

A hundred years ago this month, Thomas Edison—whose 164th birthday is celebrated with a twitchy, sketchy Google doodle Friday—laid out a long series of predictions as to how technology would transform the world.

Writing in Cosmopolitan—then a general-interest magazine—the U.S. inventor was spot on about some things, such as speedy airplanes, but "absolutely wrong" on others, said Paul Israel, director and general editor of the Thomas A. Edison Papers Project at Rutgers University in New Jersey.

Among Edison's misses: that books (pictured, Dublin's Trinity College library) would be made of nickel, which Edison thought would make a cheaper, stronger, and more flexible material than paper.

WEDNESDAY, Feb. 9 (HealthDay News) -- A surprising number of valuable new drugs and vaccines approved in the United States have arisen wholly from research funded by the public sector, new research finds.

The authors of a study published Feb. 10 in the New England Journal of Medicine count 153 new drugs and vaccines from public sector research institutes over the past 40 years. They include Remicade (infliximab), considered a giant step forward in the treatment of rheumatoid arthritis and other inflammatory and autoimmune disorders, and Lyrica (pregabalin), used to treat pain neuropathy, fibromyalgia and pain from shingles.

"Not only do federal funding programs, such as those from the National Institutes of Health and the National Science Foundation, advance the scientific knowledge base of the country, but they contribute practical advances that can help people and create economic opportunity," said study author Ashley J. Stevens, a lecturer at the Boston University School of Medicine and senior research associate at the university's Institute of Technology Entrepreneurship and Commercialization.

The White House website kicked off a new feature this week, called Advise the Advisor, in which a senior staff member at the White House will post a YouTube video on a particular subject, asking the public to weigh in on that topic via a form. The very first such topic is one near and dear to our hearts: American Innovation. Here's the video of David Plouffe asking how to encourage innovation and get rid of roadblocks:

Obama wants to end the rural-urban Internet divide and sees better quality Wi-Fi and access as a key ingredient to moving forward and making America more competitive with other nations.

satellite dishPresident Barack Obama wants to inject $5 billion into a national fund enabling high-speed Internet access for 98% of Americans. Even those in the sticks.

The early sketchings of the plan were laid out last year, but it's shifted into high gear following news that $27.8 billion will be raised over the next decade by gradually auctioning off private airwaves to companies that will serve customers in rural areas.

Startup America, an initiative of the Obama administration, was launched two weeks ago. As the public response to this call to action, top entrepreneurs, venture capitalists, angel investors, foundation leaders, and others have joined together to increase the prevalence and success of high growth U.S. startups via the Startup America Partnership. JumpStart America is one of its first implementation partners.

In May 2007 at GetJar’s former headquarters in Lithuania, I received the most important call of my life. It was from Rich Wong, a partner from Accel Partners, the Palo Alto, Calif.-based venture firm that has backed the likes of Facebook, Groupon, BitTorrent and Etsy.Photo credit of Refracted Moments

Wong was calling to discuss potentially backing GetJar. There was only one problem. I had no idea what “venture capital” meant. I have a master’s degree in economics from Vilnius University and have started several successful tech companies. But my oblivion to the VC world proves in itself that VC operations have a shaky foothold in Europe.

Six months ago 500 Startups, the angel fund headed by Dave McClure, started investing in dozens of startups — they’re now up to around 90 investments. And today the fund is announcing an incubator program similar in many ways to Y Combinator, TechStars, and the numerous other programs that have popped up to support fledgling tech startups.

As with these other programs, 500 Startups is giving each company some seed funding and access to a roster of mentors, in exchange for a chunk of equity. McClure says that in general these startups are receiving between $25k-100k for 5% of equity, with the median around $50k (this is more than Y Combinator, though 500 Startups doesn’t have the sweet $150k Start Fund deal). The program lasts for 3-6 months depending on how long each company wants to stay, and McClure says they’ll probably run three batches this year, each with its own Demo Day to showcase the startups to investors, the first of which will be in early April.

GUELPH — The agriculture and agri food sector in Ontario and across Canada has significant problems when it comes to turning innovative science into successful products.

That was one of the concerns local agricultural experts shared with the House of Commons Standing Committee on Agriculture and Agri Food when it stopped in Guelph Wednesday — one stop on its cross-country study of the condition of the sector in Canada.

If you’re an entrepreneur looking to raise money from the venture community, what’s the best sector to be in?

That was the question posed Thursday by Lori Hoberman, who heads up Chadbourne & Parke LLP’s emerging-companies/venture-capital practice in New York, at her annual “State of the Union” Venture Capital Lunch Club.

As part of its Innovation Union strategy, the European Commission has set a target of there being at least €10 billion allocated around the EU for government agencies to buy innovative products and services. The idea: To harness the purchasing power of the public sector towards stimulating more innovation – the way the US government has done with its DARPA and SBIR programmes.

The external environment is changing; we are living in the “New Normal”. The business is falling behind and weakening. Yet, nothing happens. No change takes place. Critical issues are not addressed. The leadership continues to do what it has always done.

But, why? Why aren’t the business leaders taking action to change their business model and get their company back on track? Undoubtedly, the leaders are working hard and want to succeed. So, what is stopping them from facing the problems head on?