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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.

Congress Debate Over Small-Business Funding Drags On Wall Street Journal

President Obama has signed another temporary extension for the federal funding program that provides $2 billion annually to innovative small businesses. smallbusiness_E_20090731181438.jpg

The House and Senate earlier this summer passed bills reauthorizing the Small Business Innovation Research program, which was set to expire on Friday. But the two bills differ on key issues, in particular the amount of access that venture-backed companies would have to the SBIR funds.

Want to Innovate but Avoid Risk? Offer a Prize. Washington Post

That is one of the lessons of the Great Recession, in which excessive risk-taking -- or the ever popular "reckless risk-taking" -- is invariably invoked as a prime cause of our financial woes.

But capitalism needs innovation, and innovation requires risk. So how can you innovate while getting someone else to shoulder the risk? Simple: Offer a prize.

Group Profile: Mid-Atlantic Angel Group Fund I, LP (MAG) Note: Bendis and Innovation Philadelphia co-founded MAG
With more than one hundred members, the Mid-Atlantic Angel Group Fund (www.magfund.com) is one of the largest organized groups of angel investors on the east coast. The group has invested in a motorcycle business that failed and in a drug company that was recently acquired by Novartis for up to $400 million.

Steel Industry Innovation Council announced | MINING.com News By FEN

Innovation Minister Senator Kim Carr announced the establishment of the Steel Industry Innovation Council, which is designed to help ensure the industry has access to billions of dollars of public- and private-sector projects.

The council will offer advice to government and will build on the initiatives announced this week that give Australian business fairer access to opportunities arising from the substantial Government investments in transport, energy, communications, housing, education, and research infrastructure.

Honda's New CEO Is Also Chief Innovator by Reena Jana and Ian Rowley

As Honda Motor (HMC) announced plans in mid-July for its 2010 hybrid vehicles, the company introduced a leader with a hybrid role: Takanobu Ito, its new president and chief executive, is also Honda's director of research and development. The decision to take on multiple roles while steering the automaker through the worldwide downturn is strategic. "The direction of the business and the direction of the technology need to be aligned as early as possible [in my tenure as CEO] so that we can maximize efficiency and effectiveness," Ito told BusinessWeek.

An Interview with Eric von Hippel, MIT’s Sloan School of Management By Scott Wilson

Professor Eric von Hippel of MIT’s Sloan School of Management is known for pioneering research that has prompted a major rethinking of how the innovation process works. He is the originator of lead user theory and a leading voice on open methods of innovation development. Here he expounds on the benefits of open source technology, why users are at the center of the innovation process and how they can trigger major changes in both company business models and in government policymaking.

Innovation could save health care Kansas City Star

To save the health care industry from eventually collapsing, we need to offer consumers more options for taking care of their health, and we need to free the American spirit to re-create a thriving, innovative system that provides appropriate products and services at the appropriate price.

Silicon Valley Remains World Innovation Center Amid Venture Capital Industry Meltdown By Jean-Baptiste Su

Regardless of the recession, the high cost of living, heavy traffic and the unemployment, Silicon Valley will remain the world’s center of innovation.

A self-serving prediction made during a panel made of executives from Adobe and Cisco and venture capitalists at Institutional Venture Partners and Trinity Ventures at the AlwaysOn Summit in Stanford today.