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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.

suburban development

The past decade has seen a gusher of books arguing for and detailing the supposed ascendency of dense urban cores, like the inimitable Edward Glaeser’s influential Triumph of the City: How Our Greatest Invention Makes Us Richer, Smarter, Greener, Healthier, and Happier, and about the ‘burbs as the slums of the future, abandoned by businesses and young people, like Leigh Gallagher’s The Death of Suburbia: Where the American Dream Is Moving.

 

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Gaps in opportunity for talented kids with low socioeconomic status don’t just hold back poor, female, black, or Latino children as individuals — they also impose potentially enormous losses to society as a whole. That’s the conclusion of groundbreaking empirical research published today by a team of leading economists from the Equality of Opportunity Project that Vox got an exclusive early look at.

 

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growth

Technology-based start-ups have long been an important driver of America’s economic growth and competitiveness. But while these firms provide outsized contributions to employment, innovation, exports, and productivity growth, many policymakers focus more broadly on helping all business start-ups without regard to type. Such a broad-based focus risks reducing overall economic growth for three key reasons. First, most owners of new non-tech-based firms have no intention of growing beyond just a few employees. Second, small, non-tech-based firms on average have much lower productivity and wage levels than technology-based start-ups. And third, most non-tech start-ups are in local-serving industries (e.g., retail) and as such create few or no net new jobs. As such, the focus of entrepreneurship policy should be squarely on spurring more technology-based start-ups.

 

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Millennials

In the federal IT workforce, the number of employees age 60 or older is more than quadruple the number of specialists under the age of 30, according to a Nextgov analysis.

The government employed roughly 1.8 IT workers age 60 or older for every IT employee under 30 years old in 2007, but that ratio more than doubled over the next 10 years, widening to 4.5 IT specialists age 60-plus per employee under 30 by 2017.

 

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spend

Starting a new business involves a host of challenges, and chief among them is knowing what to spend your money on—and how much to spend. You have to consider salaries, marketing budget, office size, technology services, and on and on.

These spending choices require tradeoffs, so entrepreneurs must first develop a strategy for allocating limited resources across a wide range of available options. Too often, assumptions about the potential market and its clients can cloud our judgement about expenses. Let’s examine two cases, one a former colleague and the other a close friend.

 

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money

When Venture Capitalists (VCs) invest in startups, they are aware of risks involved in returns- it might be either mind-boggling or they might end up taking a lot of losses. But VC hits are much talked about and at the same time, not all predictions come true. Some venture capital firms make successful exits and it shows the growth of the startup ecosystem. CB Insights recently came out with a report, in which it had analysed 21 of the biggest VC hits of all time to learn about what those home runs have in common.

 

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tax

The Senate’s passage of a proposed overhaul to the U.S. tax code caps a period of uncertainty for the tech industry, spurring a sigh of relief from venture-capital investors.

In the months leading up to the landmark bill, Silicon Valley was rife with uncertainty over how new provisions would treat partnership profits at venture firms and the taxation of employee stock options. Investors feared that changes to the carried-interest deduction, which is the roughly 20% share in the profits enjoyed by general partners of venture...

 

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growth

Israel is a world leader in the development of innovative products and services with companies that are advancing scientific research and enhancing every sector of the global economy. Ranked highly in the world for technological advancements and entrepreneurship, and responsible for many innovations, Israel has earned its status as an innovation powerhouse. Named the 10th most innovative country in the world by the 2017 Bloomberg Innovation Index,1 and 2nd overall for innovation by the 2017 Global Competitiveness Index,2 Israel is attracting investor interest. Warren Buffett calls Israel "the leading, largest, and most promising investment hub outside the United States" while Bill Gates explains "the innovation going on in Israel is critical to the future of the technology business."3

 

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“This time is different.” These are four very dangerous words. When you hear them it always pays to be extra skeptical, especially in the context of someone giving you financial advice or presenting an economic forecast. Personally, I always hold on to my wallet extra tight when the “trust me, this time is different” clause gets invoked. We’ve all been there in our respective professions and passions: It takes a thief to know a thief.

Image: https://www.japantimes.co.jp

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How is it that only a few business leaders and entrepreneurs seem to drive exceptional results and disruptive innovation in this rapidly changing market economy (marketquake)? These few seem more adept at executing market and technology turns, not just incremental evolution. They consistently take bold steps to stay ahead of the curve, often contrary to conventional wisdom.

Image: http://blog.startupprofessionals.com

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Most of our conversations on innovation in large companies centre around how to get more innovation happening within the organization. In our haste to create new products, services and business models, we have neglected another major challenge that large companies face. In his new book The Startup Way, Eric Ries calls this the problem of success. Beyond the struggle of coming up with great new ideas, most innovators are frustrated because their companies don’t know what do with the ideas that succeed!

Image: Samsung's Co. Creative Lab in South Korea - Photographer: Jean Chung/Bloomberg - https://www.forbes.com

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The internet has become a crucial gateway for accessing information. Just look around Brody Café or wherever you’re reading this piece: People are writing papers, conducting research, reading articles, buying a new pair of shoes or watching TV, all through the internet. Whether it is education, business or entertainment, the internet has become a practical necessity for us to engage in society today. For our democracy and economy to function, it is paramount that people have equal access to the internet.

Image: PUBLIC DOMAIN Ajit Pai is the chairman of the U.S. Federal Communications Commission.

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