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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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A major difference between biotechnology and information technology ventures is the time it takes to bring a product to market. Unlike Facebook and Google, innovation in the medical sciences world generally starts from the results of a long, government-funded basic research investigation.

 

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Stanford University scientists say they have developed a new test for type 1 diabetes that will cost a fraction of the current price and could speed up diagnosis from days to hours. That could be useful anywhere, but especially in poorer countries where many people with diabetes go undiagnosed or misdiagnosed because the existing tests are too expensive to be widely offered.

image: http://www.freedigitalphotos.net 

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It's no secret that the current job market for recent graduates is — how can we put this lightly — not the best.

The process of looking for a job is exhausting, and a lot of guidance, particularly from the very universities we've graduated from, can be summed up with the frustratingly simple recommendation to "join LinkedIn."

Image: An excited graduate of Syracuse University stands up during the university commencement on May 11, 2014.IMAGE: HEATHER AINSWORTH/ASSOCIATED PRESS 

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The U.S. education policy world—the entire country, for that matter—is on a quest to increase the ranks of future innovators in science and technology. Yet the programs that get funded in K–12 education do not support students who are already good at and in love with science. These students have potential for outstanding contributions, but without public investment they will not be prepared for the rigors of a scientific career. This is especially true for those without highly educated and resource-rich parents.

Image: http://www.scientificamerican.com/ 

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According to entrepreneurs, three factors are most important for enabling a company’s growth. In 2011, the World Economic Forum released a report that included a powerful new statistic: the top 5% of the fast-growing companies produce more jobs and generate more revenue than the other 95% of firms. Our team recently worked with partners at Stanford University, Ernst & Young, and the Forum on a new project that builds on this finding.

Image: http://www.ecosysteminsights.org/ 

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Last year our startup went through a serious downtime. We had a large deal signed that fell through with only 7% of its original commitment. During this time, we went through what every entrepreneur fears – no money. We had already started the wheels turning for future growth plans, and yet we didn’t have the cash to do so.

Image: No cash? (Photo credit: HowardLake) 

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A new program has helped a small European city increase the amount of foreign investment that local companies receive by more than 500% in just three years.

In 2010, Micah Gland, the CEO of the Helsinki Business Hub, began identifying ways to improve the business climate in Helsinki, the capital of Finland. Although the city is the home to one of the world’s largest mobile phone manufacturers, Gland found that access to private finance for local, early-stage companies was quite low. “Greater Helsinki is the growth engine driving Finnish foreign investment and there is a critical need for new investment in our country,” he said.

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Last month, Tesla Motors announced that they are opening up their patents to anyone, who in good faith, wants to use their technology. This enforces my belief that although intellectual property rights are still important in the world of innovation, the value is decreasing.

One reason is the fast pace of change, which forces more and more industries to look at development speed, fast execution and ever-changing business models rather than intellectual protection with regards to their innovation efforts.

 

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These days, everyone wants to be an entrepreneur, pitching their latest and greatest new idea, and looking for someone to give them money. Angel investors, like me, have long figured out that asking to see the prototype is a quick way to separate the ‘wannabes’ from serious players. Talk is cheap, but entrepreneurs who show you a working model of their idea know how to execute.

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A lot of people want jobs in marketing, which is great news for those of us currently hiring. However, after a decade of screening, interviewing and onboarding marketers, there are still some mistakes that I constantly see. Here are examples of some mistakes you should avoid.

 

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Investment in Minnesota life science companies saw a significant increase in the second quarter of 2014, according to a report from the state’s largest med-tech association. The Minnesota Life Science Investing Report, Q2 2014, finds a 65% increase in life science investments over the second quarter in 2013, with companies raising $110.5 million in 2Q, up from $75 million in the first quarter of this year. The report is released on a quarterly basis by LifeScience Alley, Minnesota’s trade association for med-tech and life science businesses. 

 Image: http://medcitynews.com/

 

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