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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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A working paper by UCL SoM’s Sidika Tunç Candoğan, Bilal Gokpinar, Ersin Körpeoğlu and their co-authors from the Rotterdam School of Management and UCLA Anderson School of Management exploring the non-financial benefits of crowdfunding and its ability to facilitate product development examines the level of product development required for a successful crowdfunding campaign, was featured in the Financial Times.

 

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Jason Hennessey

When I was young, I always knew I wanted to be an entrepreneur. Most of my school friends wanted to be doctors, lawyers or firefighters. Not me: I was driven from childhood toward entrepreneurship. I sold lollipops from my backpack when I was in grade school; being a serial entrepreneur was a gift from an early age. 

 

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Even before the pandemic, millions of days of vacation time went unused in the United States. As it did with so many things, the pandemic only exacerbated the problem.

Most of us are eager for a change of scenery, and research shows that taking vacations is important for a variety of reasons. Rest and time away increases resilience, which makes people better able to deal with the inevitable setbacks at work. It provides perspective that can help people see new solutions to problems, and it gives people a chance to pursue other life goals, like spending time with family and seeing the world.

 

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St Louis Arch

A few parts of the country have made out like bandits in recent years. In the decade between the Great Recession and the pandemic plunge, 90 percent of the job growth in technology and innovation sectors occurred in just five major metropolitan areas. In any given year, roughly 80 percent of the nation’s venture capital funding flows to just three states: California, Massachusetts and New York. The pandemic didn’t change that.

 

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Who do members of Gen Z want to work for most in the future? Themselves.

According to a recent survey conducted by EY Ripples and JA Worldwide of 6,000 active and former JA Worldwide participants born between 1997 and 2007, 53% hope to run their own business within the next ten years. That proportion increases to 65% for those who have already entered the workforce.

Image: Daniel Lincoln/Unsplash

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race - Runners

South African’s have a demonstrated history for innovation, from tech start-ups going global to successful township and rural economy entrepreneurs. Most innovative ideas however never take off as small businesses simply don’t have the resources or market access to launch their ideas. To bypass these barriers to entry, many entrepreneurs are now accessing Business Accelerators to unlock potential and access an effective springboard for growth.

 

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Noah Kirsch

Global real estate firms rebounded this year, as the panic of the pandemic’s early days appears to have cooled. Of the 31 real estate firms on The Global 2000, Forbes’ annual ranking of the world’s largest and most impactful public companies, more than 80% saw their stocks go up compared to last year’s list. 

 

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If you are a passionate technologist, it’s easy to forget that marketing is required to sell even the most compelling solution, to cut through the information overload everyone sees today on the internet. If customers don’t know you exist, you can’t solve their problem, they won’t buy. Getting customer attention often takes more innovation today than solving the tough technical problems.

Image: https://blog.startupprofessionals.com

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Family firms, especially established ones, often hinge on a story. History is a kind of intangible asset that is unique to these firms, like Hermès. When we buy an Hermès scarf, it’s not only the silk material and bold pattern that draw us in, we are also buying a story and a brand integrated into French culture. For family firms like Hermès, it’s important to have a family member in the top job because the name of the family is integral in story building.

Image: https://knowledge.insead.edu

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