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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 majority of medical device companies continue to shy away from developing pediatric medical devices because the process is costly and the market is small. They don’t see the ROI. One organization that has been particularly active in advocating for the development of devices for this important population is the Sheikh Zayed Institute for Pediatric Surgical Innovation at Children’s National Health System, which in conjunction with the A. James Clark School of Engineering at the University of Maryland, started the National Capital Consortium for Pediatric Device Innovation (NCC-PDI) six years ago. NCC-PDI also added healthcare accelerators BioHealth Innovation and MedTech Innovator to the consortium recently and created the Pediatric Device Innovator Accelerator Program.

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State governments that offer resource, policy and infrastructure support to help aid technological innovation provide important resources for young companies, even if the technologies the companies are developing aren't a sure thing. But it is not enough for governments to offer this funding - especially if companies are unaware what is available.

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Sgovernor-murphy-nj-imageurrounded by entrepreneurs and innovators hard at work building the businesses of tomorrow in North Brunswick’s CCIT Life Sciences Incubator, Governor Phil Murphy today showcased details of the proposed New Jersey Innovation Evergreen Fund (NJIEF), a groundbreaking new program to bring more venture capital investment to New Jersey while strengthening the Garden State’s innovation ecosystem.  

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Elite athletes push themselves to perform at an extraordinarily high level. Whether they’re winning gold medals or taking their team to the championships, elite athletes find ways to push their bodies and minds beyond what the rest of us are capable of.

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Early in my career, I was part of a team tasked with transforming operations for a healthcare services provider. The CEO was worried that employees were not committed to the company’s new strategy, which required an enormous shift in the corporate culture. People had historically focused on quarterly targets, but they now needed to prioritize caring for patients, being easy to do business with, and developing long-term relationships.

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When I entered the venture capital industry, I admired the work of “father of venture capital” George Doriot – taking risks on revolutionary ideas and seeing them pay off. But I was a little mystified by the venture capitalists (VCs) of the current era. Based on the public versions of their success stories, I thought they were extremely lucky or they had a special gift of predicting the future or a combination of both. I also found them very intimidating, unapproachable and unrelatable. I didn’t want to do business the way they did.

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AOL’s co-founder Steve Case is searching for the next big investment in places where venture capitalists by and large ignore. In his 35-ft big red bus, Case is scouring the middle of the U.S. with his $150 million “Rise of the Rest” fund, a money stream meant to flow to entrepreneurs in small to mid-size cities like Indianapolis, Detroit, and Birmingham. The goal is to jump start local economies, giving entrepreneurs often overlooked by traditional investors a shot at capital. Case has visited 38 cities and 26 states so far. 

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The thousands of young climate change activists in more than one hundred countries that played hooky to march to save the climate on March 15th were vague on their definition of “renewables”. The mass hysteria among politicians, the press, and environmentalists is a constant bombardment about renewable energy and the goal of the Green New Plan for a super renewable grid.

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Personal finance website WalletHub recently released a report on this year’s most and least innovative states, comparing all 50 states and the District of Columbia across 24 metrics pertaining to things science-, research- and development-related. With the U.S. poised to spend some $581 billion on R&D in 2019, here’s a look at the Top 5 states— and, conversely, the Bottom 5 — for innovation nationwide. (Data sets range from share of STEM [science, technology, engineering and math] professionals to R&D spending per capita.)

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