Innovation America Innovation America Accelerating the growth of the GLOBAL entrepreneurial innovation economy
Founded by Rich Bendis

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.

I had the great opportunity to take in the first Intelligent Communities Forum (ICF) Summit, in Moncton.

I thank the City of Moncton for making the investment and taking such a proactive lead to bring a high calibre conference focusing on broadband and the Internet to increase regional, economic and social development to the city.

Communities that invest in broadband are investing in their companies and their citizen's work-life balance. What was so inspiring about this conference was it was not about technology but about how the Internet supports personal and business connections in ways that we never imagined. It was about the people and how easy we make it for them.
As Richard Bendis, CEO of Innovation America, puts it: change is inevitable with the fast paced power of the web. If you're hesitating as an owner or senior manager, you are creating liability for your firm's longevity. Listening and collaborating with your target market users can significantly increase your unique value proposition -- which is how your relevant use of the web can help your long-term success.

Read more ...

Weekly Update from Build A Stronger America - Issue 1 - October 14, 2009

Manufacturing Business Owner, Bill Wydra, Shares His Story


Bill's mission is to revive the manufacturing industry in the U.S. His full-service facility employs 38 people. See Bill tell his story >>

 

Share Your Video Story With Other Entrepreneurs

Tips For Video Upload Success:

 

Starting A Business - Cheaper Than You ThinkFeatured content from Entrepreneurship.org


For many, the biggest problem with getting a good business idea off the ground is the cost...However, with the right set of resources, many of these costs can be pinched down without risking your venture. Read more from Entrepreneurship.org >>

 

Venture capital fund-raising, the rocket fuel for the nation’s entrepreneurial economy, slid to its lowest level in 15 years in the third quarter, when just 17 venture firms raised $1.5 billion, according to data released yesterday by the Thomson Reuters research firm.

By comparison, 63 venture capital firms raised $8.5 billion in the third quarter of last year, while 27 firms raised $1.9 billion in the second quarter of this year, the firm’s data showed.

 

Read more ...

As the Ohio Capital Fund rounds the finish line in investing $150 million in venture capital firms, two legislators want to breathe new life into what they consider one of the state’s key economic development programs.

State Reps. Jay Goyal, D-Mansfield, and Sandra Williams, D-Cleveland, said Wednesday they plan in the next few weeks to introduce legislation in the House of Representatives that will boost the investment capacity of the Ohio Venture Capital Authority by at least $100 million.

Read more ...

KNOXVILLE — A local economic development consortium has outlined a new strategy for attracting high-tech companies.

Knoxville-Oak Ridge Innovation Valley today unveiled a plan to focus on recruiting companies — and boost existing firms — in four specific industries: instrumentation, nuclear energy, bioenergy and energy-related materials.

Read more ...

Governor Jim Doyle today signed a Memorandum of Understanding (MOU) between the Province of Manitoba and the State of Wisconsin promoting the growth of innovation through collaboration, commercialization and bilateral trade.

The agreement, signed by Governor Doyle and Premier Gary Doer, promotes a working relationship between Wisconsin and Manitoba and builds upon current efforts to advance emerging technologies and enhance the mid-continent knowledge “IQ” corridor.

“Wisconsin and Manitoba share a strong past and a bright future in research and technology development,” Governor Doyle said. “This agreement builds on our common strengths and commits to continuing collaboration that will lead the future of innovation and grow our economies.”

Read more ...

TORONTO, Oct. 14 /CNW/ - We are wasting the productive lives of many brilliant and courageous knowledge workers and losing large sums of money doing it. This is the stark conclusion of a new study, released today by The Impact Group. Understanding the Disappearance of Early-stage and Start-up R&D Performing Firms is the fourth in a series of white papers by H. Douglas Barber and Jeffrey Crelinsten examining Canada's innovation performance and culture. Through interviews with former CEOs and investors from 18 R&D performing companies that are no longer part of Canada's business landscape, the authors discovered that of these 18 firms 10 became insolvent with the remainder disappearing through merger or sale, in five cases profitably. On average the events took over seven years to unfold.

Read more ...

NYC universities see a spike in enrollments for studies focusing on how students can launch and manage their own businesses.

Colleges have often provided fertile ground for innovation: Facebook was founded by Harvard classmates, Google by Ph.D. students and Napster by a freshman at Northeastern. Even FedEx was born of an economics term paper.

With the job market lagging, success stories like these are boosting interest in entrepreneurship among college students. Colleges and universities nationwide offer more than 5,000 courses on the subject, compared with just 250 in 1985, according to a report from the Kauffman Foundation, an organization that promotes small business formation in the U.S. And in the Big Apple, where many are looking to the startup sector for economic growth, colleges have found a growing demand for entrepreneurial studies.

Read more ...

Do-good prize season—less glamorous than the Oscars, but contentious nonetheless.

The MacArthur Fellows (often called the "Genius" awards) were announced a few weeks ago and last Friday—well, you know. While everyone else is trying to figure out whether President Obama should have won the Nobel Peace Prize, I'm happy to ponder whether the Nobel Peace Prize should exist at all.

There are generally two kinds of prizes that try to improve the world. The first, like the Nobel, awards those who have made the world better in extraordinary ways. The second, like the X Prize, tries to incentivize innovation that could have enormous impact in the future.

 

Read more ...

Corporate investors and acquirers are showing more interest in potential deals after a difficult economic downturn, but start-ups can improve their chances of a favorable exit by taking some steps of their own.

A group of top executives from technology companies speaking at the Dow Jones VentureWire Technology Showcase on Wednesday gave their suggestions on do’s and don’ts when seeking an investment or acquisition from these companies.

Read more ...

Venture capital funding plummeted more than 80 percent in the third quarter, as investors clung to their cash during the recession.

U.S. firms raised just $1.6 billion during the period, the lowest amount since the first quarter of 2003, according to a joint report by Thomson Reuters and the National Venture Capital Association on Monday.

That's an 81 percent drop from a year ago, when 63 firms raised nearly $8.5 billion. It was also a decline from the preceding quarter, when 27 funds raised almost $2 billion.

Read more ...

Earlier this month at the Mass Tech Leadership Council's Innovation Unconference, I helped lead a session called "How Do We Turbo-Charge the Culture of Entrepreneurship in Massachusetts?" It attracted a room full of about 35 people.

I believe, as you may know, that there is a cultural revolution happening here, and that there are two kinds of people in our region's innovation economy:

Read more ...