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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.

The incoming class of MIT Legatum Fellows has been announced, who aim to bring entrepreneurship to low-income countries.

As is readily evidenced by reading the latest news, for entrepreneurs in America times have been tough. Yet 16 entrepreneurs, armed with grants from the Legatum Center for Development and Entrepreneurship at the Massachusetts Institute of Technology (MIT), are looking beyond Main Street and focusing their entrepreneurial dreams on helping others in developing countries.

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While the American people remain concerned about the direction of our country and the state of our economy, a growing consensus has emerged in support of policies that encourage private sector and entrepreneurial growth.

In the most recent poll that the Kauffman Foundation conducted as part of its regular research it does on economic growth and entrepreneurship, 34% of Americans say the economy is headed in the right direction, while 54% say it is off on the wrong track. In addition, they remain skeptical about their personal economic situation, and they do not think that the economy is recovering. 54% of Americans say the U.S. economy is not beginning to recover, while one-third believe that it is.

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PRESS RELEASE

MADISON - The in-house research arm of the U.S. Department of Agriculture will work with a Wisconsin tech-based organization to help make its world-class research more widely available to companies and academic institutions in Wisconsin, it was announced Tuesday.

The Agricultural Research Service, which has scientists working at 100 locations across the United States and abroad, has signed a “Partnership Intermediary Agreement” with the Wisconsin Security Research Consortium, an independent, non-profit corporation with ties to the Wisconsin Technology Council. The Tech Council is the independent, non-partisan science and technology adviser to the governor and the Legislature in Wisconsin.

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I recently interviewed Mike Moritz of Sequoia Capital and Paul Graham of YCombinator. Mike Moritz is probably the most successful venture capitalist of the last twenty years since he invested in Google, Zappos, Yahoo, and PayPal. Paul Graham’s YCombinator is at the leading edge of tech startup creation. Contrary to the typical bull shiitake that most venture capitalists spin (“we want a proven team in a proven market with a proven technology”), these guys are really making things happen. I picked up these twelve lessons from the interview:

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Positive economic signs for manufacturing continue, according to NEMA, Rockwell Automation, Valve Manufacturers Association, and IEEE.

Numbers from NEMA, along with hopeful signs from Rockwell Automation, valve manufacturers, and IEEE, are among recent news giving manufacturers positive economic hope. Links to related Control Engineering coverage follow at bottom.

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Every entrepreneur, whether their business is online or offline based, can take advantage of the multitude of free tools that exist online. We’re always surprised when we poll entrepreneurs to know that not many are aware of these tools, let alone using them. And no, we’re not talking about Twitter, or Facebook, or even Sprouter. We’re talking about lesser-known online tools you as an entrepreneur can adopt today to further your business and gain exposure. See below for our list of the top 4 online tools for entrepreneurs:

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Since 2001, The Baida Center has been a business incubator in Drexel’s Lebow School of Business that houses eight to ten companies on average, mostly winners of the school’s incubator competition. The center is also a big reason the school was named one of the top three entrepreneurship programs for graduate students in the country (three spots ahead of, ahem, Temple University).

Technically Philly sat down with the man behind the scenes: Executive Director and Senior Executive in Residence Mark P. Loschiavo and asked him how the incubator works and why, like the rest of us, Loschiavo has trouble pronouncing “Baiada.”

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WBAA, EBAN and FNABA congratulate Portugal for the new Business Angels’ Co-Investment Fund.

Brussels, September 1st, 2009

Worldwide Business Angels have increasingly been syndicating and co-investing with public and private funds. This new initiative will represent a global investment of 25 million euros in 60 new start ups.

The new Business Angels (BA) Co-Investment Fund that was announced yesterday by the Portuguese government, brings Portugal to a new era of innovation, risk taking, enabling the development of several early stage projects.

“Portugal is showing how important the Business Angels community is for the development of innovation and a new generation of entrepreneurial companies. Portugal is definitely in the forefront of the World BA community, as they were when hosting the formative first meeting of the World Business Angels Association. Congratulations to Portugal and FNABA for this exciting achievement!”, mentioned John May, President of the World Business Angels Association and Chair Emeritus of the Angel Capital Association (US).

Read the Full Release HERE.

SAN FRANCISCO (Reuters) - Initial public offerings will rebound only in 2010, despite a pick-up in activity that some investors say signal a resurgence, the National Venture Capital Association said on Thursday.

For those encouraged by such signs as the $340.4 million raised by battery maker A123 Systems Inc in its recent IPO, the trade association's message in its quarterly report is that total IPOs "fell far short of historical norms."

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(Nanowerk News) The EU must do more to develop and deploy key enabling technologies (KETs) such as nanotechnology, micro- and nano-electronics, advanced materials and photonics. This is the main message from a new Commission communication on the subject.

The term KETs refers to technologies that enable the development of new goods and services in a wide range of fields. For example, nanotechnology holds the promise of breakthroughs in healthcare, energy, environment and manufacturing, while micro- and nano-electronics are expected to lead to smart control systems that could revolutionise the energy, transport and space sectors, among others. And advanced materials could lead to major improvements in aerospace, transport, building and healthcare. Currently, the potential of these exciting new technologies remains largely untapped.

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A proposal that would exempt the venture capital industry from strict regulations including requiring firms to register as investment advisers with the Securities and Exchange Commission drew cheers Thursday from the National Venture Capital Association, which has been fighting increased regulation.

The proposed exemption language was part of a draft of the Private Fund Investment Advisers Registration Act and was announced by Representative Paul Kanjorski (D-Pa.), chairman of the House Financial Services Capital Markets Subcommittee.

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