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.
When was the last time you saw a kite-like device flying on a boat? While it may appear to be a fun toy at first, a special device called SkySails is helping these boats save money on fuel by harnessing the power of air, reports AFP.
The 160-square-metre (524-square-foot) kite, tethered to a yellow rope, can sail 500 metres into the skies where winds are both stronger and more stable, according to the 38-year-old Wrage.
Image: http://www.business-opportunities.biz
The entrepreneurial spirit in India is at an all time high as many first generation entrepreneurs are passionate about setting up their shops with innovative products and services. From my years of being an entrepreneur, I’ve put together some commandments for startuppers. It’s something that I try to follow and tell others when I can. My intention is not to pin down the deficiencies in ecosystem or to curse any stakeholder.
image: http://www.freedigitalphotos.net
Being an entrepreneur is a frightening experience. You’re constantly faced with challenges that frequently put you on edge.
Over the past six years, I’ve been involved in three different startups. Each offered unforgettable experiences -- most good, depending on your outlook. It certainly hasn’t been easy to co-found, lead or grow any of these businesses, and I’m lucky I’ve worked with excellent teams throughout my career. Though I haven’t yet seen it all, I’ve seen enough to realize the hard reality that is starting a business.
“Your workstation should fit you like a tailored shirt,” says University of California ergonomist David Rempel. “If I come to your workstation and you’re six inches taller than me, it shouldn’t fit me.”
If your workstation doesn’t fit you, you’re in trouble. Typing speed goes down with discomfort, and error rates go up. If you ignore that tension in your shoulders, neck, or wrist, it can turn into injury -- like carpal tunnel syndrome, where a pinched nerve in your wrist causes tingling, pain, and numbness.
Image Courtesy of David Castillo Dominici / FreeDigitalPhotos.net
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One of the interesting things about being a VC is that you often see companies in transition. If you’re an early investor like I am that often means writing the first $2-3 million check into a business that previously had either survived on fumes or on a $500,000 angel round. I also see companies as they move from having taken $1-5 million from me to their next round where they raise $8-15 million from Series B investors and sometimes I lead at this round (we’re stage agnostic but 80% of our deals are seed & A).
When I came to China via an internal transfer in September 2007, I was one of very few eligible candidates for the position I took. This was because my job in private equity required that I not only speak but also read and write Chinese. This was in stark contrast to my tentative efforts in the China job market in 2004, when the ability to speak Mandarin with some primitive proficiency was already seen as a major asset. Compare that with now, when I believe (and often counsel) that not only are bilingual and bicultural skills must-haves to be competitive in China’s business environment today, but deep industry knowledge and local contacts (or the ability to quickly assemble a local network) have become absolutely crucial. In the last decade or so, the bar has been raised ever higher with accelerating globalisation and there is no more “low hanging fruit.”
image: http://www.freedigitalphotos.net
Earlier this month, Governor O'Malley held a video chat with students from UMBC and UMUC through Google Hangouts. During the stream, the Governor announced Maryland schools have increased STEM graduates by 37% since 2006, climbing from 9,500 to over 13,000. Most recently, new STEM education programs – which include science, technology, engineering, and math – have been announced, including technology entrepreneurship at UMD and biotechnology and management at Mount St. Mary's. The Governor's STEM Task Force, created in 2008, is on track to meet its goal of increasing STEM graduates in Maryland by 40% by 2015.
Image: http://www.freedigitalphotos.net
Venture capital investment continued to trend upwards in the first quarter of 2014 with $10.74 billion raised by U.S. based companies, up 18% from the fourth quarter of last year and the most raised since the first three months of 2001.
Venture investment was flat last year, but fourth quarter numbers from Dow Jones VentureSource signaled growing investor confidence. The latest VentureSource data show that continuing with a much stronger first quarter – 44% higher than the first period of 2013 when equity financing for U.S. venture-backed companies was $7.48 billion.
Image: http://blogs.wsj.com
The most fundamental way for a nation to build its strength in innovation is to invest in its research universities because this investment brings forth new knowledge and human capital – two key aspects that help accelerate innovation, according to Dr. L Rafael Reif, President of the Massachusetts Institute of Technology (MIT).
Image: Dr. L Rafael Reif, President of the Massachusetts Institute of Technology (MIT)
Deval Patrick is making headlines across the country for what Fortune titled a “clever immigration reform workaround,” aimed at keeping high skilled techie foreigners in the commonwealth — and in the country.
Under the Global Entrepreneur in Residence program, foreign students who attended universities in Massachusetts can apply to enroll in the GER program that will be administered by the Massachusetts Tech Collaborative, an independent state agency aimed at developing technology in the state, Fortune reported.
Over the course of many years working in venture capital and the video game business, I’ve listened to hundreds of pitches for new companies and products.
After almost every one of those pitches, once the entrepreneur has left the room, a post-game review ensues. There are consistent patterns in those discussions; aspiring entrepreneurs, pay attention.
Image Courtesy of maya picture / FreeDigitalPhotos.net
Sarah Bergbreiter is an assistant professor of mechanical engineering at the University of Maryland, and she and her team build tiny robots.
Just how tiny? Bergbreiter calls it “ant-scale,” but said, “That’s really just a PR term. Our robots are built on the millimetre scale, less than 1 centimeter.”
Image: http://www.businessinsider.com.au
For nearly a year and a half, there has been word that Cambridge Innovation Center (CIC) — the Massachusetts-based coworking space and business incubator for early-stage startups — would expand and open an office in Baltimore.
As Technical.ly Baltimore reported in July 2013, current plans for CIC Baltimore situates the incubator at 873 W. Baltimore St. near the University of Maryland BioPark. At the time real estate consulting firm Cross Street Partners told Technical.ly Baltimore that the Baltimore-based innovation center — a development project of Wexford company — would be roughly 44,000 square feet when construction is completed in late 2014.
Image: The coworking facility inside the Cambridge Innovation Center. Photo courtesy of the Cambridge Innovation Center.
Here’s something gruesome to consider: More than 200 people are killed every year when cars are reversing—most of these deaths are children. Back-up accidents also injure more than 15,000 people each year.
These factoids get more tragic when you consider that it’s usually a parent behind the wheel, and the cost of preventing nearly all of these accidents is a cheap piece of technology: A $50 camera.
Image: The Volkswagen XL1 concept car doesn't have side-view mirrors or a direct window view to the side. Drivers rely strictly on a camera and monitor. - http://readwrite.com/
Recently I had an interesting discussion with an attorney who works with entrepreneurs. As we were discussing venture capital, he made a comment about how one of his clients, a successful physician, had invested $100,000 in a new company that had developed a software program, and that he deserved venture capital.
Image: http://www.forbes.com
For academic achievement, ability is not enough. What’s also needed are mindsets and strategies for overcoming obstacles, staying on task, and learning and growing over the long-term. According to Gregory Walton and colleagues, academic tenacity is not about being smart, but learning smart.
Image: http://www.freedigitalphotos.net
IT may be an improving picture for European seed capital, but for many entrepreneurs vital startup cash is still hard to come by.
Reluctance by the banks to lend to businesses with no trading history, fierce competition on the crowd funding platforms, and the selectiveness of the private equity market, continue to leave many early stage companies in the starting blocks.
Image: http://www.forbes.com/
MidAmerica Healthcare Venture Forum, to take place April 22-23 in Chicago, unites active investors with corporate business development executives to facilitate investment opportunities with promising Mid-America based startups.
The event showcases emerging innovation and technology dealflow originating in the Midwest, and has earned the reputation as the premier healthcare investing conference.
Image: http://medcitynews.com/
We’ve all read the stories about successful and iconic CEOs with volatile personalities--about leaders who use fear to drive performance, like Mr. Burns in The Simpsons, ruling over the Springfield power plant with an iron fist.
A few of these executives are better known for their bad behavior than their business achievements. And while in some cases their antics may be their downfall, many others go unpunished by their boards and shareholders as long as they’re delivering results.
Image: http://www.freedigitalphotos.net
