innovation DAILY

New York, New York – January 22, 2015 - The Intelligent Community Forum announced the Top7 Intelligent Communities of 2015 earlier today in an online event hosted by Finland’s former Minister of Communications, Suvi Linden. The Top7 list included cities and towns from 5 different nations, three communities from the United States, one from Australia, one from Brazil, one from Canada, and one from Taiwan.

The first wave of year-end 2014 data on U.S. venture investment painted a portrait of a resurgent capital market. Investment activity reached its highest level of activity in a decade, finally shaking off the stagnation of the Great Recession (see last week’s article). Within the data, however, there were some concerning trends. The PricewaterhouseCoopers (PwC)/National Venture Capital Association (NVCA) Moneytree data indicated that while later-stage investments and megadeals drove the 61 percent one-year increase in total VC dollars, seed stage dollars fell by 29 percent.

The question of whether entrepreneurs are made or born has long been debated, but have studies provided us with a definitive answer?

Becoming an entrepreneur can be a big leap of faith for anybody. Because it's risky, it can be scary. In the end, you want to know that somehow you have the upper hand. Having science on your side can help give you this confidence, which leads us to a discussion about whether genetics could be a factor in your favor. If entrepreneurship were genetic after all, wouldn't you want to know? Furthermore, wouldn't you want to know if you fit the mold?

When you’re trying to start a small business, it’s daunting enough to pull together the essential elements of the business itself including leadership and key staff. But, the most successful entrepreneurs don’t just plan for the resources within the business, they also strategically assemble a team of resources to help support the company: “the village.”

Supercomputing is being squeezed by new cloud computing competitors and more expensive component suppliers. How will the likes of IBM adapt to this hostile environment?

Two weeks ago, the tech media was abuzz with news of the z13, IBM’s newest “mainframe” supercomputer”. Geared for processing 2.5 billion mobile transactions a day, the z13 is the most powerful piece of hardware out there for enabling mobile payments and analysing customer data in real time. It was five years in the making, costing US$1 billion in development and is built on 500 patents. Such a machine reminds us that IBM still has the strength to create powerful hardware. But the company’s earnings just one week later also remind us of IBM’s yo-yo-like fortunes in the supercomputing business.

Aaron Sorkin’s long-anticipated Steve Jobs biopic is finally underway, with principal photography beginning in San Francisco. Danny Boyle is set to direct with Michael Fassbender in the leading role as the visionary Apple founder.

The film, which is based on key moments in Walter Isaacson’s biography of Jobs, doesn’t have a title yet. After changing production companies (Sony to Universal) and cycling through leading men (Leonardo DiCaprio and Christian Bale were both slated to play Jobs before backing out) and directors (David Fincher to Boyle), it’s something of a wonder the project has come this far.

Potential rules guiding investment crowdfunding will go to the full House for a vote in Virginia next week.  The legislation has been released by the Commerce and Labor Committee and will now take the next step towards becoming law.  The bill was sponsored by Del. Scott Taylor of Virginia Beach.  Taylor was quoted in the Augusta Free Press on the bill;

“Crowdfunding is a recent innovation to help entrepreneurs get their companies off the ground and find the capital to grow. My bill would eliminate many of the regulatory stumbling blocks for a business looking to take advantage of the opportunity to solicit investments by crowdfunding. There is no doubt this bill will enable Virginians, investing in Virginia companies, to create jobs.”

The improving economy contributed to a second strong year in a row for colleges’ endowment returns, according to an annual study released on Thursday. Colleges’ endowments returned an average of 15.5 percent in the 2014 fiscal year, up from 11.7 percent in 2013, and far above 2012’s investment returns of negative 0.3 percent.

Techstars closed a $150 million early-stage fund, a much larger pool of money than it previously had, that will enable the firm to capitalize on the global network of startup founders and advisers it has built out in recent years.

Techstars launched its first startup accelerator in Boulder, Colo., in 2007. Since then it has spread around the country and internationally. Nearly 500 startups have gone through its programs. (Venture Capital Dispatch recently looked at the performance of these companies.)

Image: Techstars co-founder and Managing Director David Cohen Techstars

A new universitywide strategy and organizational framework to support technology transfer and commercialization of Cornell’s intellectual property (IP) is being implemented, according to Robert A. Buhrman, senior vice provost for research and vice president for technology transfer, intellectual property and research policy.

New entrepreneurs tend to focus only on getting the product right, and assume that the right culture and ethics will come later simply by hiring good people. In fact, they need an early focus on developing their moral compass, as well as setting the right ethical tone. Building an ethical business is more than just compliance and meeting legal requirements, and it has big paybacks.

You might think that fitting in will help you get ahead in business, but it’s not true. Standing out is the only way to reach your fullest potential. It’s also the only way to build strong relationships.

Connecting and fitting in are two different things. As counterintuitive as it might seem, trying to fit in will actually prevent you from authentically building relationships, especially with successful people.

The sharing economy has been widely hailed as a major growth sector, by sources ranging from Fortune magazine to President Obama. It has disrupted mature industries, such as hotels and automotives, by providing consumers with convenient and cost efficient access to resources without the financial, emotional, or social burdens of ownership. But the sharing economy isn’t really a “sharing” economy at all; it’s an access economy.

One of the biggest lessons I’ve learned in the 10 months since joining NextView is just how many exceptions there are to almost every “rule” in early-stage entrepreneurship. There’s no one right way to do most things at this stage of growth. There’s no single Path of Truth and Justice, no matter how much the bloggers and experts want to describe best practices as exactly that (this blog included).

One day in 2009 David Cohen and I were talking. Here’s what I remember the conversation being.

David: “I’m seeing so many seed deals from all the mentors and people I’m running into around Techstars but I’m not sure what to do with it.”

Brad: “Why don’t you raise an angel fund and just invest in them as a seed investor.”

David: “Do you really think I can do that?”

Brad: “Absolutely – you’re a great investor. Raise a small fund – $5 million. I’m in for $100,000 so you’ve got your first LP. I’ll help you get it done.”

David: “Ok – let’s go.”

Is building Ikea furniture your idea of a good time? Well, hold onto your Napoleon hat, because there's now a game for Mac and Windows that will allow you and up to three other players to simulate the maddening experience of constructing flat-pack furniture in a virtual living room, no Bjursta required.

Image: http://www.fastcodesign.com

The robot seems determined to put a bigger smile on the man’s face. “Are you smiling from the bottom of your heart?” it asks. The man chuckles. “That’s what I’m talking about,” the robot quips in a high-pitched voice. Then, just for good measure, it bows its plastic head and apologizes for being “too bossy to our CEO.”

Image: Illustration: Matthew Hollister

Innovation serves as a key driver of growth in the economy. Innovative firms develop improved manufacturing processes and create new and less expensive products for consumers. For decades the Federal government has supported the growth of innovation through regulations and tax policy. A new report from the Congressional Budget Office provides insight into the challenges that it faces in its efforts to spur new innovations.

Image: http://www.brookings.edu

Silicon Valley has become a synonym for innovation and, with its ecosystem of super-moneyed venture capitalists, it is world renowned as a hub for new products and software. Europe meanwhile has struggled to produce the likes of Facebook, Amazon or PayPal, or to garner the levels of investment for its startups. But could that be about to change?

Image: Silicon Roundabout in London is still no Silicon Valley. Jack Torcello, CC BY

Draper University, a kind of accelerated bootcamp in entrepreneurship founded by legendary venture capitalist Tim Draper, has hired a new chief executive and is expanding its scope with the addition of a satellite of related ventures.

The new CEO, Andrew Tang, was formerly managing director at ABB Technology Ventures. He is also currently managing director of the Draper Dragon Fund.

Image: Tim Draper welcomes his students, in a promotional video. Image Credit: Draper University

LSN researchers recently decided to take a deep dive into interviews we have held with venture philanthropy groups from around the world to see what the future likely has in store. After analyzing data gathered over the past three years from more than 150 investors, we uncovered a few notable trends.

Every startup wants to change the world, but DC-based incubator and seed fund 1776 fosters the type of early stage companies that just might have a chance.

The incubator is focused specifically on startups for the public good and you won’t find any benign photo sharing apps in 1776’s portfolio.

Image: President Obama paid a visit to 1776 in July 2014 and heard pitches from 1776 entrepreneurs. British Prime Minister David Cameron has also visited the campus.  -http://www.businessinsider.com/

Want to get in on a promising career? Think health care, tech and finance, according to a new survey from Glassdoor.

The job hunting and information site compiled its inaugural list of the top 25 jobs in the U.S. The rankings and Glassdoor's "Job Score" are based on three factors: earning potential, career opportunities and the number of job openings. Unsurprisingly, the list reveals that this is a wonderful time to be a medical professional or coder.

By now, we all know multitasking doesn’t work. Our brains are incapable of focusing on more than one thing at a time. We might think we’re multitasking as we scan our email while on a conference call, but we’re not. We’re actually switch-tasking – quickly shifting attention from one thing to another and then back again — diluting our focus and losing precious seconds each time we switch. Those seconds add up to many hours of wasted time every week.

The outlook for office workers is grim: Research has shown the being sedentary at work is bad for our health—whether we're sitting or standing too long. Experts suggest that movement is key. But it can be hard to shake up the workday. Get lost in one project, and suddenly you look up only to realize you've been sitting down for hours.

Image: The Stir Kinetic Desk helps you keep moving throughout the day.

It's inevitable: Winter is here and there is nothing you can do about it.

When white fluffy snow drifts from the sky and ice storms haunt those who are unlucky enough to live in regions with seasons, everything seems dreary and unmotivating. Once you run out of things to watch on Netflix, you'll start to reconsider why you chose to live in this god-forsaken winter "wonderland."

Image: http://www.flickr.com/photos/67958110@N00/2896884681

There’s nothing like the start of a new semester. It’s the perfect time to turn over a new leaf and to set goals. As colleges and universities get deep into the spring semester, students can gear up for success with the help of these gadgets perfect for the budding scholar. Whether you're counting down to graduation, or you're still green around the edges, these devices will help you make the most of your collegiate experience.

Universities are a unique breeding ground for rising entrepreneurs, able to accumulate all the scattered ingredients for building a thriving company through its own academic network—nurturing a winning idea, recruiting talent, finding mentorship, workspace, and securing venture capital.

According to the newest Illinois Innovation Index report released Monday, triple the number of startups are being generated from these university think tanks in Illinois as five years ago.

UNC-Chapel Hill created a new position to help drive economic development. The role is titled "vice chancellor of commercialization and economic development," and the university named Judith Cone as the first to hold the position. The UNC Board of Trustees directed Cone "translate University research and ideas into practical benefit for society while enhancing economic prosperity in North Carolina and beyond."

Image: Dan Sears - UNC Judith Cone, special assistant to the Chancellor for Innovation Entrepreneurship at the University of North Carolina at Chapel Hill.

HALIFAX -- Small and medium-sized businesses in Nova Scotia will soon have access to a $50-million private venture capital fund. Premier Stephen McNeil says the fund is to be created by private investors led by international businessman Victor Chu. McNeil met with Chu during a business mission to China last September.

Creativity is booming across the whole of the UK except Scotland, which now employs fewer creative people than five years ago, a new report from Nesta has found. Scotland is the only region to have shown a contraction in its creative economy, with employment in the sector falling 1pc between 2011 and 2013, according to the innovation foundation’s study.

Il professor Piero Formica, fondatore dell’International Entrepreneurship Academy (www.intentac.org), è Senior Research Fellow dell’International Value Institute (www.ivi.ie) presso la National University of Ireland (Maynooth, Dublin) e dirige un laboratorio di sperimentazione di startup innovative presso il centro di imprenditorialità (EDEN www.eden.nuim.ie) della stessa università. È anche professore presso l’ISTEC di Parigi e le Università di Tartu in Estonia e di Tehran in Iran. È “Erudite Scholar” dell’Università di Calicut in India.

The National Venture Capital Association has just released the latest MoneyTree data on venture industry fund-raising, which always makes me sit up straight and take notice—it’s kind of an industry scorecard. In addition to being baffled by the fact that the amount the U.S. venture industry invests outstrips how much we raise (see below), I am intrigued by the other forces at work as the VC industry risks becoming more like a money management business. But first the facts…

A U.S. House of Representatives panel today released a widely anticipated proposal for speeding the development of new medical treatments. The massive, 393-page document, dubbed the 21st Century Cures Act, has been under development by Fred Upton (R–MI) and Diana DeGette (D–CO) of the House Energy and Commerce Committee since last April. It grew out of a series of hearings and roundtables last year on ways to spur biomedical research innovation and streamline clinical trials and the drug approval process. The result is a long list of ideas summarized in this document.

Image: http://news.sciencemag.org

The past few weeks have seen a flurry of pomp and circumstance in state capitals as new governors are inaugurated and as incumbents deliver their State of the State addresses to lay out their visions.  As governors, administrators, and state legislators begin to roll up their sleeves for the work ahead, the IT Alliance for Public Sector (ITAPS), the alliance of leading technology companies in the public sector market, has developed a set of recommendations states should consider to develop their information technology (IT) innovation strategies. 

Tech accelerator franchise Techstars today announced that it’s raised a new $150 million fund, with plans to invest the capital back into its own “ecosystem.”

More specifically,Techstars says it will use the fund to invest in “accelerator program graduates, new companies started by Techstars alumni, and companies formed by Techstars mentors.” This new fund should ultimately help boost Techstars’ image — if it yields stronger Techstars-associated businesses.

Image: The 2010 class of Techstars entrepreneurs. Image Credit: Robert Scoble via photopin cc

Passion is an overused term in business. You keep hearing “do what you love.” But you need to be thinking about whether your passion is truly sufficient enough to start a successful business. To create a business you must provide a product or service people are willing to pay for. Maybe you love knitting baby booties, and want to make millions doing so. I’m sad to tell you: unless you employ about 10,000 other baby bootie knitters, you will likely never reach that financial goal.

Most people do not associate innovation and the notion of a lean startup with government, but former Chief Technology Officer (CTO) of the United States Aneesh Chopra shares his insights about data and how government data can be a force of positive change to enable the private sector for the benefit of everyone. Chopra served as the first Chief Technology Officer of the United States, appointed by President Barack Obama. Chopra previously served as Virginia's fourth Secretary of Technology. As an assistant to the president, Chopra designed the National Wireless Initiative, helped launch Startup America, and executed an "open innovation" strategy across the government built on private-sector collaboration -- opening up data, convening on standards and staffing "lean government startups."

Image: http://www.huffingtonpost.com

A startup called Bastille says it can help companies detect the hacking of devices connected to the so-called Internet of things, which is looming larger as a target for computer crimes.

Bastille Networks measures the typical radio-frequency signature of all the devices in an office—sensors, industrial control systems, employees’ phones, their fitness bands, Wi-Fi routers, and so on. If anything unusual develops, because a sniffing device has been placed in the office, for example, or because someone appears to be remotely accessing an Internet-of-things-connected device for malicious purposes, Bastille can tell the IT staff. Bastille has been testing its technology with some financial services companies since December and plans to make its technology available to other companies in late 2015.

Med students probably dream of working in that snazzy, prestigious academic medical center in Boston or San Francisco, but it turns out that physicians in more rural areas like Montana and South Dakota actually make more money, according to startup Doximity.

“High cost areas actually pay less,” said Jeff Tangney, CEO and founder of Doximity. “Medical school teaches the science of medicine, but not the business of medicine.”

Image: http://medcitynews.com