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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.

no

Saying “yes” is truly bred into our culture of embracing life with both arms, seeking opportunities and overachieving.

But we’ve only got 24 hours each day, and entrepreneurs -- and anyone who is driven and success-minded -- aren’t exactly reeling with free time. “The ability to communicate ‘no’ really reflects that you are in the driver’s seat of your own life,” says Vanessa M. Patrick, an associate professor of marketing at the C.T. Bauer College of Business at the University of Houston. “It gives you a sense of empowerment.”

 

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3 Signs You re A Fake Entrepreneur Bizztor

Hey Guys, Dale Partridge here.

I don’t want to step on anybody’s toes but self-proclaimed entrepreneurs practically grow on trees these days. I can’t read a Twitter bio or Instagram bio or LinkedIn profile or blog post without seeing someone refer to themselves as an entrepreneur.

Image: https://bizztor.com

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chart

As an angel investor and business advisor on new ventures, I expect to see five-year financial projections from every entrepreneur. Yet I get more pushback on this request than almost any other issue. Founders point to the great number of financial unknowns in any new business, and are reluctant to “commit” to any numbers which may come back to haunt them later.

From my perspective, projecting financial returns is part of the homework every business person needs to do in sizing customer opportunity, product costs, pricing, competition and customer value, before expending their own resources in a highly risky venture. You need these projections to assess viability, set internal goals and milestones, and measure your team’s progress.

 

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NewImage

Have you ever seen an idea in action and thought, ‘Why didn’t I think of that?’  Let’s look at three recent innovations which might surprise you.

Washing machines can be very heavy. This is because they contain concrete blocks weighing about 25 kgs which are needed as counterweights to keep the machines stable during spin cycles.  Researchers at Nottingham Trent University have developed a plastic container to replace the concrete blocks.  It is empty and light until delivery when it is filled with water.

Image: http://innovationexcellence.com

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mother

Superhero versus supermom. Pick your team.

My inspiration is always the real-life hero. Being a mom and a business owner, I understand the challenges of building an empire and managing a family. At times, it’s difficult to decide whom to attend to first — a crying baby or a client call?

But thereare some moms who have learned the art of being successful. By successful, I mean moms who are truly enjoying rocking their little ones while rocking their business goals too. Yes, success is an art, and some mompreneurs have mastered this art by finding the perfect balance between juggling diaper bags and laptop cases.

 

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NewImage

Amazon may use its drone delivery service to analyze customer’s homes, offering ‘recommendations’ from its store or third-party services like gardening or roof repairs.

The patent, granted on Wednesday by the U.S. Patent and Trademark Office (USPTO), shows how the drones would use cameras to take photos during its descent. The photos would then be sent to a computer system to be analyzed, and recommendations would appear as mobile notifications or banner adverts when the customer visits the storefront.

Image: https://readwrite.com

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A Midwest VC s Response to the Rise of the Rest Fund

Earlier this week, Steve Case and JD Vance of Revolutions Ventures announced a $150M “Rise of the Rest” fund, building off the bus tour & pitch competition of the same name that Case started a few years back.

The capital came from a who’s-who of American business – Chicago’s Pritzkers are nearly outshone by Jeff Bezos, Howard Schultz, Dan Gilbert, Meg Whitman, Tory Burch, John Doerr and – you get the point. It’s a large fund for “flyover country”, which sees few early-stage VCs focused on the region with more than $100M to spend. So how does this exciting new fund affect the tech economy, specifically in the Midwest? I’ve outlined the pros and cons here.

 

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NewImage

PricewaterhouseCoopers LLP recently issued a report examining U.S. venture capital investments by state. The study looked at the number of deals funded by state, the share of deals in the United States by state, and the total amount of venture capital dollars invested by state. PwC uses data provided by the National Venture Capital Association and CB Insights for its report.

Unfortunately, the report shows that Indiana has work to do when it comes to attracting venture capital dollars. As of Sept. 30, 27 Indiana companies had secured venture capital totaling $64 million. In terms of the number of companies funded, Indiana has a 0.7 percent national share of deals. The $64 million in venture capital funds represents a 0.1 percent national share. Overall, Indiana ranks 21st in the country year to date.

 

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money

HALIFAX _ Nova Scotia’s government has plans to put another $25 million into two venture capital funds, with the expectation that other Atlantic provinces and private investors will join in.

Innovacorp Inc., a Crown agency that already has invested in a $65-million regional venture capital fund started in 2013, announced Friday it plans to put a second round of investment into startup firms in Atlantic Canada.

 

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made with love

Unless you are a serial entrepreneur with a string of successes behind you, you need a business plan to convince investors that you can build a business out of the dream that has been driving your passion to change the world. Don’t believe that Silicon Valley myth that all you have to do is sketch your idea on the back of a napkin, and investors will line up to give you money.

Based on my experience as an angel investor and a mentor to dozens of entrepreneurs, having no business plan is the quickest way to define yourself as just a dreamer, or at best a hobbyist. Let me be quick to say that a plan doesn’t have be a book, and probably should start as a “pitch deck” of maybe a dozen slides which cover all the right bases. The details can be added later.

 

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entrepreneur

Have you ever wondered if you have what it takes to build a billion-dollar company from scratch?

Successful entrepreneurs come from every imaginable upbringing and background. Yet they all seem to have some inherent abilities that give them their edge and set them apart from the rest. Is it something in their DNA? Is it an innate trait they've learned to hone and develop over time? Look closely, and all mega-successful entrepreneurs share a few similar traits. These characteristics push them forward and keep them excelling where others flop.

 

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