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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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While creative ideas are defined as both novel and useful, novelty and usefulness often diverge, making it difficult for employees to develop creative ideas that are high in both. To explain why and when novelty and usefulness diverge and how employees may overcome this tradeoff, this article introduces the concept of the “primal mark”, which is the first bit of content that employees start with as they generate creative ideas. Due to primacy effects, the primal mark may shape the novelty and usefulness of the ideas that employees ultimately develop. To test hypotheses on how primal marks shape the creative process, I conducted two experiments in which participants started with primal marks that contained varying degrees of novelty. The results suggest that familiar primal marks lead to less novel but more useful ideas, whereas new primal marks lead to more novel but less useful ideas. However, the results also suggest a solution to this tradeoff—starting with a new primal mark and then elaborating it with familiar elements, which tends to produce ideas that are both novel and useful. The implications of these results for theory and research on creativity in organizations are discussed.

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NewImage

Severe bleeding is a primary cause of death for soldiers wounded on the battlefield. Deep shrapnel and gunshot wounds can be notoriously difficult to control, particularly in soft tissue places such as the neck, shoulder, and groin. Now undergrad students at Johns Hopkins University have developed a prototype device to help address such trauma in a speedy fashion.

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bhi roche

BioHealth Innovation, Inc. (BHI) announced today that Roche Pharma Research and Early Development (pRED) and BHI have entered into an agreement to advance healthcare technologies coming from academic institutions, federal laboratories and startups based in Central Maryland. Under the terms of the agreement, BHI will identify health technologies that Roche will evaluate for potential research, development and commercialization opportunities. Priority areas of interest will include oncology, neuroscience, ophthalmology, rare diseases, immunological and infectious diseases. Financial terms for the agreement were not disclosed.

 

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You know that taking frequent breaks is good for your productivity, focus, and creativity, but you just never seem to get around to it.

You feel stressed and exhausted when you hammer away at your keyboard all day, and the evidence is everywhere. A study earlier this year from the University of Toronto on lunch break patterns of office workers revealed the absence of a proper lunch break can actually lower productivity. John Trougakos, associate professor of Organizational Behavior & HR Management, who coauthored the study, argues our brains have a limited pool of psychological energy.

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“The real promise of the technology revolution isn’t its products—it’s the new ways by which it has enabled us to express our humanity,” claims Bill Taylor, co-founder of the iconicFast Company magazine and author of the bestseller, Practically Radical.

“Today, smaller and smaller teams are building bigger and bigger things, faster,” he explains. In today’s marketplace—which is streamlined by technology and defined by abundant choice— “corporate muscle mass” such as factories and storefronts have lost the clout they had 50 years prior.

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Managers typically make portfolio decisions based on a series of logical justifications. The choice to invest, cut back, buy, or exit is ideally guided by the strength of a business’s structural attractiveness (business logic); the potential to improve the business or create synergy with other businesses (added-value logic); and the state of the capital markets—whether they are likely to over- or under-value the business relative to the net present value, or NPV, of its future cash flows (capital-markets logic).

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College Park, Md. — Brendan Iribe dropped out of the University of Maryland here, but before he did he amassed 227 parking tickets. And he managed to meet two business partners who would help him build the virtual-reality company Oculus VR, which Facebook bought this year for about $2-billion.

One of those parking tickets remains unpaid, but the university is likely to forgive it after Friday, when he gave $31-million to erect a computer-science building. That makes Mr. Iribe, who is 35 years old, the institution’s most generous donor ever.

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No one likes performance reviews, and one reason is that we've seemingly locked ourselves into a doctrine of numerical rankings. Your company might not be as extreme as Jack Welch’s GE, which famously relied on forced rankings to cull weaker managers (a system still in use by more than half of Fortune 500 firms as of 2012), but chances are your company has given you a number that puts you in a specific spot on the employee continuum. There must be a better way, and strategy+business turns to neuroscience to figure out what that is.

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Not long ago, the division head of a multinational manufacturing company had a problem. After receiving an aggressive 12% annual growth target, she met with her team, and after a lot of research, meetings, and debates, they built a strategic plan around 17 key initiatives ranging from the overhaul of a production facility in Nebraska to fully integrating a new distributor in Nigeria. Everyone on the team was on board with the plan, and they were optimistic about its outcome. But just a weeks before the start of the fiscal year, they began to doubt their abilities to execute so many initiatives at once and they started second-guessing their overall direction.

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watch

Venture capitalists maintain a heroic self-image even as other elements of the financial services industry have fallen into a degree of discredit. These guys aren't just shuffling money around — they're providing the financial sinews of innovation! But Diane Mulcahy of Babson College and the Kauffman Foundation says the entire sector is basically a huge scam.

She points out that the VC sector underperforms all the broad public stock indexes. You'd be better off investing your money in a nice S&P 500 index fund than with a sexy venture capital outfit. It's less risky, and the returns are higher.

Image: http://www.vox.com/

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Alison Coleman

Or is it £55 million? Or $65 million? That depends on whether you’re an entrepreneur looking for to give away equity in return for investment, or an investor trying to leverage the best deal.

At least that’s the impression that TV shows like Dragons’ Den can create.

For entrepreneurs, putting a price on their companies is a crucial task that affects how much money they want to raise from investors, but it can be time consuming, costly, and for early stagers, very difficult to do.

 

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