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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.

money

As investors seek to take advantage of a hot market for start-up funding and initial public offerings (IPOs), the money raised by venture capital firms reached its highest level since 2007 last year, increasing by 62 percent to $32.97bn.

Venture Capital is financial capital provided to early-stage, high-potential, and growth start-up companies. The venture capital fund earns money by owning equity in the companies it invests in, which usually have a novel technology or business model in high technology industries, such as biotechnology and IT.

 

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SAN JOSE -- The Silicon Valley economy, fueled by fast-growing innovation industries like nowhere else in the country, has rebounded strongly from the Great Recession and is poised for more stellar growth. But the region has stumbled in its quest to create a skilled talent pool that can meet the hiring appetite of the high-tech sector, according to a report released Wednesday.

Technology businesses now account for 33 percent of the economic output of Silicon Valley, defined as Santa Clara, San Mateo and San Francisco counties, the report from the Silicon Valley Leadership Group and Silicon Valley Community Foundation has found.

Image: A view of downtown San Jose, Calif., on Monday, Jan. 12, 2015. (Gary Reyes/Bay Area News Group)

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Over the years I have observed that organisational high flyers display many contradictory behaviour patterns, and it’s this paradoxical nature which makes them so successful. Spotting nascent stars can be a challenge, not least because we can’t always be sure what we’re looking for. Some may first impress us as ‘‘golden larvae’’, but never complete metamorphosis, while others grow into true butterflies.

Image: http://knowledge.insead.edu

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We live in a globalized world. Working globally often means working with teams in different locations. Unfortunately, those locations may not always be in the same time zones. Can people work well together when very few of their business hours overlap?

Hillan Klein, chief operating officer of domain registration and web hosting company Namecheap, thinks so. "We want to build a business with the best talent we can find," he says. So as they’ve scaled up, "we looked at talent without geographic boundaries. This gives us a global source pool."

Image: http://www.fastcompany.com

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whale tail

To be an entrepreneur, you have to be willing to jump into the deep end. And that takes courage. 

But courage is just the beginning. At a fundamental level, most entrepreneurs need to repeatedly overcome adversity and pursue opportunities with very limited resources. 

 

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Mike DeNardo

PHILADELPHIA (CBS) — A student and young entrepreneur at Penn’s Wharton School has won a major award. “I was so humbled, to be honest,” says Wharton junior Aaron Goldstein after being named Entrepreneur magazine’s “College Entrepreneur of the Year.” He won for developing a smart thermometer called “Fever Smart.” The wearable device has a computer chip in an adhesive bandage which, Goldstein says, can help parents keep tabs on a sick child’s fever.

 

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Jordan Adams MaRS

Last week, Bruce Croxon, a Canadian entrepreneur and former dragon on CBC-TV program “Dragons’ Den,” stopped by MaRS to deliver a down-to-earth, informative and fun lecture to an enthusiastic Entrepreneurship 101 crowd. He offered a ton of advice on everything from how to tell if entrepreneurship is right for you to how to hire the right people to why pitching dog products on “Dragons’ Den” is a bad idea.

 

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child

Once upon a time, a teen with an entrepreneurial streak had few options: babysitting, mowing yards, or maybe a paper route.

These days, young people are designing clothing lines, designing apps and creating other businesses before they finish – or even start high school.

 

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caution

You’ve heard it before: Don’t mix business with pleasure. This could certainly be the case if you dabble with the idea of going into business with a friend. If you’re not careful, the relationship can turn sour very quickly and hurt your business in the process. On the other hand, a close, trustworthy dynamic could result in tremendous benefits for a business.

 

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Beth Cobert, Deputy Director of Management, Office of Management and Budget. // Government Executive

The Office of Management and Budget says members of a new team of tech innovators working to straighten out digital projects in government have had their noses to the grindstone over the past few months.

Presumably, members of the U.S. Digital Service have even been too busy to set up a website of their own.

But all that’s about to change.

Image: http://www.nextgov.com

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Successful startups seem to follow similar paths to greatness, and unfortunately all too often that path leads them back down the hill much faster than they went up. Big company powerhouses, like IBM and Xerox, took fifty years to make the cycle, but new companies today, in the age of the Internet, often make the cycle in five to ten years, or even less. Consider MySpace and Webvan.

 

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