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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.

Chris Ralston, one of several art directors at Callahan Creek, 805 Mass., keeps his workspace organized so it functions like a well-oiled efficiency machine.Want to know if your workspace is organized? Give yourself the three-minute test.

“If you can find a particular sheet of paper or a file or piece of equipment — whatever it is you need — in three minutes or less, you’re organized,” says Marguerite Carlson, owner of Lawrence-based Organize U. “That’s a basic ground rule.”

Carlson, whose clients include hoarders and other disorderly clients, says a work area — be it a tiny cubicle or expansive office suite — needs to be clutter-free for maximum efficiency.

“Clutter messes with your mind,” she says, “and when you can clear the clutter, you really are clearing out your life.”

And the smaller your workspace, the more important it is to keep it well-ordered.

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[sbcash1]For an entrepreneurial start-up, landing that first check from an investor is a milestone.

What many start-ups don't realize is that the seed capital they raise – often from friends and family – is just the first step in a fundraising journey that can drag on for months or even years.

My client, John White, is more than two years into the process of securing $14 million in funding for his company, Joy Berry Enterprises Inc., which plans to republish the works of popular children's author Joy Berry across multiple media platforms. In June 2008, he and partner John Bellaud won their first $600,000 from angels to jumpstart the company—and expected smooth sailing from that point on.

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steve ballmer, kin oneThe most impressive thing about Microsoft's failed Kin cellphone project is how quickly Microsoft canceled it once the company had figured out it was a bomb.

After announcing the Kin 1 and Kin 2 social networking phones on April 12, Microsoft confirmed it was killing the Kin on June 30, just 79 days later.

It was the right move. And while it was a huge waste of money to develop and market the Kin right before killing it, at least it's no longer a distraction for the company.

If anything, companies should learn how to discontinue failed products faster, rather than letting them drag out for several months or years, as is all too common in technology.

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Entrepreneur JamesPerhaps you noticed that Ohio recently lost a successful entrepreneur who moved his business to Florida, where taxes are lower.

Of course, like many entrepreneurs who relocate their businesses to low tax states, his decision was only partially influenced by taxes. Other factors, specifically his desire to build a global brand name, were more important. But Ohio taxes didn’t help.

Yes, I’m talking about LeBron James’ decision to join the Miami Heat.

Basketball isn’t my forte, so I’m going to stay away from evaluating whether James would have been more likely to win an NBA championship if he’d stayed in Cleveland, gone to New York, or chosen somewhere else to play.

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Becky McCrayRecently, we were speaking with Becky McCray, an entrepreneur from Alva, OK, who is writing a book on how small town entrepreneurship relates to entrepreneurship in the global economy.

Recently, we were speaking with Becky McCray, an entrepreneur from Alva who is writing a book on how small town entrepreneurship relates to entrepreneurship in the global economy.

"Every kind of business exists in rural and small town Oklahoma," McCray says. "Ponca City has an attitude and openness to entrepreneurship and is known for recruiting entrepreneurs. Woodward, a town in cowboy country with a long history with energy production, has a major cluster of wind farms. Ditch Witch in Perry makes trenchers and earth moving equipment that are used all over the world."


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http://www.inventorsdigest.com/wp-content/uploads/2010/03/Patents2.jpgIt is widely believed to be the standard route for academics starting their own business: disclose an invention to the university, get it patented and venture forth into the spin-out world. But an extensive survey has found that this is not how the majority of companies are started by US academics, suggesting that government and universities are missing an opportunity in their quest to boost entrepreneurial activity.

In what the authors say is the largest study of its kind, experts on entrepreneurship surveyed 11,572 professors at institutions across the United States (R. Fini, N. Lacetera and S. Shane Res. Pol. doi:10.1016/j.respol.2010.05.014; 2010). Of the 1,948 respondents who had started a business, only 682, or about one-third, had set them up to exploit patents obtained through formal university intellectual-property systems. The remaining 1,266 respondents had started businesses — including consultancies and manufacturing and service-based firms — based on non-patentable knowledge.

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Last Wednesday night, Joel Kotkin--a futurist and (sub)urban historian--squared off in a debate against Christopher Leinberger, a developer, consultant and proponent of "walkable urbanism." The topic: "America 2050: What Will We Build." The pair tangled on four key issues: demographics; housing supply & demand; transport; and density. Kotkin was in hostile territory: a roomful of Manhattan architects and academics belonging to the Forum for Urban Design.

Demographics

Kotkin, author of The Next Hundred Million, is commonly labeled an apologist for sprawl, he’s more like its Gorbachev, seeking to reform an unsustainable institution from within. He believes that sheer population growth will save the economy as America adds another hundred million people in the coming decade, mostly through immigration. While China ages disastrously and Europeans die off, young immigrants will more than offset the earnings of the retiring Baby Boomers, replenish the heartland, and resuscitate our moribund construction industry.

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Entrepreneurs aren't the only ones struggling to find capital in these choppy economic times. The venture capitalists who write the checks are encountering their own hard realities on the fundraising trail. A report out today from Thomson Reutuers and the National Venture Capital Association indicates that dollar commitments to VC funds dropped by 49 percent during the first quarter as just 38 funds raised $1.9 billion.

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EcoMotorsThe Bill Gates and Khosla Ventures dream team are swooping in once again to provide much-needed cash to a worthy sustainable startup. The pair recently injected millions into nuclear power startup TerraPower, and now they're back again to invest $23.5 million in EcoMotors's series B funding round.

EcoMotors builds a lightweight, high-efficiency, low-cost combustion engine that supposedly offers 50% greater fuel efficiency than similar conventional engines. The company's Opposed Piston Opposed Cylinder (OPOC) engine can be used in everything from passenger vehicles to auxiliary power supplies--anywhere traditional gas and diesel-powered engines can be found.

The Troy, Michigan-based company has an impressive history. CEO Don Runkle led GM's EV1 electric vehicle project in the mid-1990's, and CTO Peter Hofbauer designed VW's high-speed diesel engine, which ultimately developed into the Jetta Clean Diesel's engine.

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There’s a famous line about consultants that clients love to repeat, “consultants take your watch and then tell you the time.”

I suppose there’s some truth to that but of course it’s an over simplification. I used to work for Andersen Consulting (for > 8 years) – mostly building computer systems for large companies in the fixed telecoms, mobile and Internet sectors. On every project in which we worked it was clear that there was corporate knowledge built up around the organization. It occurred to me that it was my job to find the data, synthesize it, summarize my conclusions, provide options for better decision-making and lead the decision-making process. Such is leadership. And VC. And I learned the skills in my days as a consultant.

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Cilia are a must-have appendage, and they do much more than swat bodily currents—indeed, new research is suggesting they play an important role in development and disease.

When Antonie van Leeuwenhoek looked down at a prokaryote through his simple microscope made of a single mounted lens back in the 1660s, he discovered the first organelle. Captivated by the fluttering “legs” that would later be called the cell’s eyelashes, or cilia in Latin, he might have wondered about the origin of their movement.

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I believe there is a lot of confusion regarding the difference between invention and innovation. This confusion is the result of erroneous definitions and the purposeful intent of some to increase their importance by belittling the contributions of others.

I believe that most of this mischief started with the great economist Joseph Schumpter. According to Wikipedia:

Following Schumpeter (1934), contributors to the scholarly literature on innovation typically distinguish between invention, an idea made manifest, and innovation, ideas applied successfully in practice

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ANN ARBOR, Mich. – U.S. Commerce Secretary Gary Locke today announced the members of the National Advisory Council on Innovation and Entrepreneurship, a group that will support President Obama's innovation strategy by helping to develop policies that foster entrepreneurship and identifying new ways to take great ideas from the lab to the marketplace to drive economic growth and create jobs. Locke made the announcement at a U.S. Department of Commerce University Innovation Forum at the University of Michigan, where participants discussed the role of universities in innovation, economic development, job creation and commercialization of federally funded research.
 
“America's innovation engine is not as efficient or as effective as it needs to be, and we are not creating as many jobs as we should,” Locke said. “We must get better at connecting the great ideas to the great company builders. The National Advisory Council will help the administration develop a broader strategy to spur innovation and enable entrepreneurs to develop breakthrough technologies and dynamic companies, and to create jobs all across America.
 
“I want to extend my gratitude to the leaders selected to The National Advisory Council. Their work will be a key component of America’s economic recovery.”
 
Throughout U.S. history, basic research in public and private sector research labs has spawned new technologies and inventions that led to new businesses. And those entrepreneurial businesses have been important drivers of job creation. Firms less than five years old have accounted for nearly all net new jobs in America over the last 30 years. Yet, as a share of gross domestic product, American federal investment in the physical sciences and engineering research has dropped by half since 1970.
 
Since taking office, the president has taken significant steps to turn this trend around. The Recovery Act included $100 billion to support groundbreaking innovations in diverse fields, from healthcare IT and health research to smart grids and high speed trains. Last fall, the president announced a National Innovation Strategy, which called for doubling the budgets of agencies including the National Science Foundation, to better support basic research at our nation's universities. And the president's 2011 budget – while freezing domestic discretionary spending overall – increases funding for civilian research and development by $3.7 billion, or nearly 6 percent.
 
The National Advisory Council on Innovation and Entrepreneurship will help build on this aggressive agenda. Members of the council include serial entrepreneurs, university presidents, investors and non-profit leaders. Steve Case, Mary Sue Coleman, and Desh Deshpande will serve as Co-Chairs.  See the full list of council members below.
 
 
First
Last
Title
Tom
Alberg
Managing Director, Madrona Venture Group
Tom
Baruch
Founder and Managing Director, CMEA Capital
Claude
Canizares
Vice President for Research and Associate Provost, Massachusetts Institute of Technology
Curtis
Carlson
President & CEO, SRI International
Steve
Case
Chairman & CEO, Revolution; Co-Founder, AOL
Robin
Chase
Co-Founder, Zipcar
Marcelo
Claure
Founder, Chairman, President & CEO, Brightstar
Mary Sue
Coleman
President, University of Michigan
Michael
Crow
President, Arizona State University
Desh
Deshpande
Chairman, A123 Systems, Sycamore Networks, Tejas Networks, and Sparta Group
Judith
Estrin
Co-Founder, Bridge, NCD, Precept, Packet Design; Former CTO, Cisco Systems
Ping
Fu
Co-Founder, Chairman, President & CEO, Geomagic
Christina
Gabriel
Director, Innovation Economy, The Heinz Endowments
Barron
Harvey
Dean, Howard University School of Business
Krisztina
Holly
Vice Provost for Innovation, University of Southern California; Executive Director, USC Stevens Institute for Innovation
Ray
Leach
CEO, JumpStart
Kenneth
Morse
Co-Founder, 3Com and Aspen Technology; Founding Managing Director, MIT Entrepreneurship Center
G.P. "Bud"
Peterson
President, Georgia Institute of Technology
Michael
Roberts
Founder & CEO, The Roberts Companies
RoseAnn
Rosenthal
CEO, Ben Franklin Technology Partners of Southeastern Pennsylvania
Carl
Schramm
President & CEO, Ewing Marion Kauffman Foundation
Ellen
Siminoff
CEO, Shmoop; Founding Executive, Yahoo!
Holden
Thorp
Chancellor, University of North Carolina at Chapel Hill
Charles
Vest
President, National Academy of Engineering; former President, Massachusetts Institute of Technology
Jeffrey
Wadsworth
President & CEO, Battelle
Jerry
Yang
Co-Founder and Chief Yahoo, Yahoo!


electric car, hybridVery few people really know much today about the experience of owning an electric vehicle of course, given that EVs are not widely available. Nissan hopes to change this by the end of the year when its fully electric Leaf debuts. However, owning an electric vehicle promises to be a lot different than owning any other type of car, different even from plug-in hybrids such as the Chevy Volt set to arrive later this year as well.

The main difference is, obviously, that an electric car has no backup power (such as the plug-in Volt's gasoline combustion engine). If, for example, you find yourself in your Leaf with an empty battery miles from home, it'll be a bit like running out of gas, except that in an old-fashioned car you could walk to the nearest gas station or call AAA or a tow truck for help. Re-charging an electric battery requires a power source and, although there may very well be roving re-charge trucks deployed from service stations in the future, this won't be a great backup plan in the near term.

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Driving around the block over and over to find a free parking spot wastes everything: time, gas, space on city streets, patience. It would be great if we could know when parking spaces were freed up so we could head right to an empty one.

That's the idea behind Google's new Open Spot app. When you're leaving a parking space in the city, you can use Open Spot to record its location on a map. Fellow Open Spot users looking for parking can then look up recently vacated spaces in their area. The freshest spots show up as red pins; older ones show up as orange or yellow pins. To encourage people to get in the spirit of pay-it-forward information sharing, Open Spot rewards frequent users with "karma points." For now, the app is available in the United States, Canada, and, oddly, the Netherlands, for phones that run Android 2.0 or higher.

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Dear Evil HR Lady,

I recently accepted a brand new position as regional director. There was a previous director who provided management for a portion of my current region. I have now been tasked with finding a new title and job duties for the previous director. HR is really pushing for this person to retire as he has been employed for many years and one of the reasons they created the new position was to remove him from management. There was a very lucrative retirement package offered, but he declined.

I created a new position based on the organization’s needs. The previous director will assume this new position including a rather large pay cut. My dilemma is that I know this person is not going to be able to meet the new job requirements (I based the job on department needs, not on the current skill level of the previous director). I have tried everything but to directly ask for retirement. Do I have any other options? I am afraid I am going to end up going down the disciplinary action road with ultimate termination since the company has a very quick disciplinary process of three strikes and you’re out.

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Do Decision Makingyou think of yourself as a rational thinker? Take pride in your ability to draw logical conclusions from premises and data? Think people who use dietary supplements and male enhancement products are idiots? Yeah, me too, on all counts.

Well, guess what? It turns out that my decision-making ability isn’t as bullet proof as I once thought, and I’m willing to bet that yours isn’t either. And that’s a real problem because corporations and businesses count on their executives and managers to make timely and accurate decisions.

Unfortunately, many, if not most, of our decisions are based on inductive, not deductive reasoning. What’s the difference? Deductive reasoning is when the conclusion necessarily follows from the premises. For example, “Our company makes smartphones, and Apple sells great smartphones in our target market, therefore Apple is key competitor.” You can definitely base business decisions on that statement.

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hungry baby birdsAt any given time, something like four percent of the US population is engaged in some form of new-company-creation. And that narrow definition of entrepreneurship doesn’t count all of the managers inside established companies who are effectively engaged in the same process of building an internal startup (see What is a startup? for my more expansive definition).

What motivates all these entrepreneurs? Typical explanations tend to focus on the well-known anecdotes and larger than life archetypes we have in mind: the twenty-something college dropouts (men, of course) from Stanford inventing some radical new technology. The academic research tells a very different story.

What do entrepreneurs look like? Are they born or made? This is a hard question. I think the root cause of that difficulty is that we tend to conflate two different questions into one. First, what causes someone to attempt entrepreneurship instead of a more traditional career path? And second, what attributes make someone likely to be a successful entrepreneur?

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http://www.mvrhs.org/social/Weintraub/pics/ireland-map.gifTAOISEACH BRIAN Cowen will this morning launch an ambitious €500 million plan on which the Government has pinned its hopes of making Ireland the “innovation hub” of Europe.

Mr Cowen will announce details of the “Innovation Fund” at a meeting with business leaders at the New York Stock Exchange today.

The fund has been Government policy since the smart economy framework was published in 2008 but has been delayed by the recession. Before his departure for New York yesterday, Mr Cowen confirmed the scheme will commence in September, with the State investing €250 million over five years, a sum which he said will be matched by private sector investment.

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altTHE PREMISE for this book is simple. How has a nation of just seven million people, only a little more than 60 years old, surrounded by enemies and with no natural resources, produced more start-up companies and produced more Nasdaq-quoted companies than Europe, Japan, China, India and Korea combined? What magic dust does Israel possess to foster this entrepreneurial spirit?

This book tries to answer that question, while also examining the potential threats to Israel’s future wellbeing. It has a lively opening with case studies of innovation from recent years including one about a young Israeli who has developed a car battery that could make electric vehicles financially viable.

Instead of plugging in the car for hours on end to charge up, you would simply pull in to a battery swap station and go through a machine resembling a car wash. Your battery is dropped out and replaced by a newly charged one.

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