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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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As a company executive, or a business advisor, we have to always be on the alert for indications that your business, while looking calm on the surface, has strong undercurrents starting that can lead to disaster. You don’t want to be in one of those high-flying companies, like Webvan, Pets.com, and eToys, that almost made it to the big time, before fading or crashing into oblivion.

 

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Dynamic incubator space for science based innovation formally opens

A crowd of more than 100 representatives from Princeton University, the town of Plainsboro, local industries and the center’s first tenant companies attended the event at the Forrestal Center in Plainsboro.

Princeton Innovation Center BioLabs offers co-working lab and office space for high-tech startup companies formed by Princeton University faculty, students and alumni as well as members of the wider New Jersey community.

Image: https://www.princeton.edu

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YBuilding an engine for growth that funds itself McKinsey Companyou don’t have to look far to finance your growth ambitions.

To drive growth, you first have to find the fuel—and for many companies, that’s not so straightforward. Internal and external obstacles, including onerous approval processes, borrowing costs, and short-term stock-market impact, can make it hard to fund promising ventures. But it doesn’t have to be that way.

Image: https://www.mckinsey.com

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Prince Harry and Meghan Markle, i.e., the newly married Duke and Duchess of Sussex, gave the public quite a fresh, warm wedding at St. George’s Chapel on Saturday. While there were no Beatrice-level crazy fascinators or Prince George side-eye, there were memorable moments that already prove the bride’s modernizing effect on the royal family.

Image: https://www.fastcompany.com

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NEW YORK –The U.S. Small Business Administration, under its Federal and State Technology (FAST) Partnership Program, is soliciting grant applications from New York organizations to help boost the development of technology from small businesses.

According to Beth Goldberg, Director of the New York District SBA Office, the agency aims to increase the number of Small Business Innovation Research (SBIR)/Small Business Technology Transfer  (STTR) awards to small businesses through technical assistance and mentoring, especially among women, socially/economically disadvantaged individuals, and small businesses in underrepresented areas.

 

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REYKJAVIK, Iceland, May 18, 2018 (GLOBE NEWSWIRE) -- Today the President of Iceland awarded Kerecis the Industry Award for Entrepreneurship. Kerecis is the creator, manufacturer and patent holder of revolutionary, fish-skin-based therapeutic products that speed up the healing process of human wounds and repair tissue damage. 

Specifically, Kerecis Omega3 is intact fish skin that is rich in naturally occurring Omega3 polyunsaturated fatty acids. When grafted onto damaged human tissue (such as a diabetic wound), the material recruits the body’s own cells and ultimately is converted into living tissue.

 

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birthday cake

There are a lot of theories about how old you "should" be to found a startup.

Some people say younger is better. You're young and strong and can withstand lots of sleep deprivation and keep going. You're more likely to take risks and less likely to quit (supposedly).

On the other hand, wisdom comes with age. The older you are, the better you know your industry, and likely more than one industry. You have strong connections and a lot of experience.

 

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Jeff Bezos

Today everyone seems to be talking about "disruption." It's modern, hip, trendy. Very new millennial.

But business disruption is much more than a passing fad. Mankind discovered early on that the best way to increase our standard of living was to create order out of chaos by constantly inventing and reinventing our most important tools: technology, processes and systems.

 

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Entrepreneurialism is not confined to the adult world. On the contrary, with their creative minds and determination, children can make excellent entrepreneurs. Check out the following do’s and don’ts for parents or child entrepreneurs.

Parenting a Child Entrepreneur – Do’s

Do Be Supportive

From inventing a fabulous new product to writing a book or selling lemonade, if your child comes to you with an idea for a business, it is important to be supportive. Avoid ridiculing or dismissing the idea, which could discourage your child from starting a business venture. Instead, show enthusiasm and support and take the subject seriously.

 

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It’s still popular these days for startup founders to operate in stealth mode, meaning no details about the idea or progress are shared with anyone until the big reveal and rollout. The common reason given is that this prevents any competitor from stealing their idea and beating them to market. In my view, this paranoid approach costs them much more than the risk of being open.

I’m not suggesting that a startup should ever disclose patent details to others before filing, but I can’t imagine why a startup would not seek visibility and feedback for their idea and solution while they could still make changes with minimal cost. Pivots and corrections are inevitable for startups in this age of rapid change, and the earlier you make them, the quicker you get to success.

Image: https://blog.startupprofessionals.com

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Baishali Mukherjee

Entrepreneurship, as it is known today, is primarily about finding solutions for challenging problems that exist. And innovation is the key to the exercise of finding solutions and lies at the core of every successful enterprise that we read, hear and study about. The sheer ability to look at problems and processes with a new perspective has led to some of the most innovative companies in the world.

 

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