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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.

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New Yorkers will tell you that a lot can happen in a ‘New York minute’ and it’s also one of the fastest minutes you’ll ever experience. In this new tech age where we are all plugged in, the internet is our fast-paced minute. What could possibly happen in one internet minute? Intel decided to try and answer that question.

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Entrepreneurs plan to anchor a floating tech startup incubator in international waters outside Silicon Valley next year.

The venture, Blueseed, at blueseed.co, would allow foreign techies to legally work on the vessel, near Silicon Valley, without work visas that can be hard — or impossible — to obtain.

Blueseed would be anchored 12 nautical miles from the valley. That's 13.8 land miles, and just far enough to be outside U.S. territorial waters and thus subject only to the fiscal and immigration laws of the countries whose flags the vessel flies, says Blueseed co-founder and president Dario Mutabdzija.

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Accelerator

Seed stage accelerator Blueprint Health wants to house 100 healthcare entrepreneurs in what would be a healthcare hub at its Soho office.

Blueprint Health Co-Work will house 100 entrepreneurs leading companies with one to 10 employees. Startups can choose between memberships from $250 to $400 with privileges that include discounted access to Blueprint Health classes and conference room access. It currently shares its 12,000 square foot Soho office with Health 2.0. So far it is hosting 10 entrepreneurs, according to the accelerator’s co-founder Dr. Brad Weinberg.

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beechhouse

Ever been inside an awesome beach house? Or even a little shack by the sea? There’s something perfect about fresh sea air, the open vista of thousand miles of blue ocean, sand, sun, and surf.

Often where you start a business is just as important as what the business contributes to the marketplace.

Amplify is a Westside tech hub that looks like a beach house, but feels like a workspace.

Their two-story base camp sits on the edge of a round-about on Main Street in the heart of Venice Beach, California. The place has all the critical elements of a beautiful California coastal home — natural light, high ceilings, open spaces for lounging, a huge kitchen, and a rooftop deck. (Sounds like a page from the real estate listings, right?)

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upgraph

“Crowdfunding has gone from a $32 million market to a $123 million market in the past two years,” according to a research report released today by the industry publication The Daily Crowdsource.

The company evaluated the performance of eight reward-based crowdfunding platforms (where a donor receives a reward of value in exchange for a cash contribution) and six investment-based platforms (where investors receive equity or interest on their investment). All platforms evaluated in the latter category were based outside of the US. Rewards-based platforms evaluated include Kickstarter, RocketHub, and WeFund.

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Money

While the “Big Three” of Silicon Valley, New England and the New York metro area continue to dominate U.S. venture capital, there is life for expansion stage companies outside of those regions. For example, cities like Chicago, Austin, Seattle, Washington, D.C., and Los Angeles have all made recent strides to carve out their own niches in the investment landscape.

As OpenView Market Research Analyst Nick Petri points out, increased investments outside of the traditional hot spots say as much about the value of the companies located there as it does the VCs that target them.

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Amanda Lang, CBC business correspondent, speaks with Algoma University business administration students Friday, March 30, 2012 at Algoma's Water Tower Inn in Sault Ste. Marie, Ont. (BRIAN KELLY/THE SAULT STAR/QMI AGENCY)

Amanda Lang is getting innovative about innovation.

The CBC business correspondent is nearly finished writing The Question of Why. To be published in October by Harper Collins, Lang wants readers to consider innovation outside the workplace.

"I think we need to take personal ownership of it and actually be the innovators we really know how to be," she said during a break at Algoma University's sixth annual business case competition.

Businesses apply innovation to products, processes and services.

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Up Graphic

When a new project launches, the first thing its creators do (if they hope to be successful) is promote it to their friends and fans. This starts a ripple effect of promotion and backing that often accelerates if the project is picked up by a well-read blog or online community. This is how the majority of audiences are introduced to projects.

As we've grown, we've heard people worry that it will be harder and harder to fund projects as the total number of projects grows. They wonder: Do more projects mean greater competition for the same dollars?

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NSF Innovation Corps

We ran the first National Science Foundation Innovation Corps class October to December 2011.

63 scientists and engineers in 21 teams made ~2,000 customer calls in 10 weeks, turning laboratory ideas into formidable startups. 19 of the 21 teams are moving forward in commercializing their technology.

Watching the final presentations it was clear that the results were way past our initial expectations (comments from mentors as well as pre- and post-class survey data suggested that most of the teams learned more in two months than others had in two years.) So much so that the NSF decided to scale the Innovation Corps program.

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A component from a modular robot developed by NSF grantee Barobo, Inc.

On March 29, 2012, the National Science Foundation (NSF) conducted a bipartisan congressional briefing sponsored by the Coalition for National Science Funding and hosted by the Congressional Research and Development Caucus and its Co-Chairs Rush Holt (NJ-12) and Judy Biggert (IL-13) and special guests Representatives Daniel Lipinski (IL-3) and Sheila Jackson Lee (TX-18).

"For 60 years, NSF has played a central role in innovation by catalyzing the development of fundamental ideas in science and engineering and supporting the people who generate them," said NSF Director Subra Suresh. "NSF remains the nation's engine of innovation, the fuel for which is fundamental research. NSF's mission positions it to stimulate innovative research that connects the science and engineering enterprise with potential economic, societal and educational benefits."

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money

The federal government has heard the desperate calls to support Canada’s venture capital industry, and its latest budget has answered them loud and clear.

As part of the new fiscal plan, the federal Conservatives have set aside $400-million to create venture capital funds led by the private sector, and have also promised to give the Business Development Bank of Canada another $100-million to buttress its venture capital activities.

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Have you checked your company’s mobile job offerings recently?

While there are many people already using mobile to find their dream jobs, don’t be misunderstood — using a smartphone to check out job boards isn’t just for early adopters or technophiles. In fact, it’s quickly becoming a mainstream method of finding a lasting career.

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obama

A piece of legislation designed to make crowdfunding a legal option for startups will be passed into law as President Barack Obama plans to sign the JOBS Act Thursday, VentureBeat has confirmed.

The Jumpstart Our Business Startups (JOBS) Act has already successfully made its way through the U.S. Senate and the House of Representatives, with some modifications, and will allow startups raising $1 million or less to let regular Joes and Janes (read: non-accredited investors) purchase a limited amount of equity in their nascent businesses via approved portals.

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A Day in the Internet

As more and more business is conducted online, more and more business opportunities are created due to the massive size of the internet. Companies like Amazon, Apple, and even Walmart are giants in e-commerce and their online revenues are continuing to soar. Last year, e-commerce raked in $680 billion worldwide. And on Black Friday alone, Amazon sold 32 items per second. With the help of services like Facebook, Twitter, and email, companies are able to reach practically anybody on the internet – all 6.8 billion of them. Those pursuing an MBA will definitely need to consider the shear size of the internet when making their future business decisions. And the numbers behind the size of the internet are staggering. In fact, they’re almost unbelievable.

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Michigan Economic Development Corp. President and CEO Michael Finney's job is complicated by Detroit's financial crisis. / MEDC

A big part of Michael Finney's job is selling Michigan. And like any good salesman, he's not going to dwell on what's wrong with his product.

But I have to believe that Finney's important work as president and CEO of the Michigan Economic Development Corp. will be a little easier -- no, a lot easier -- if his boss, Gov. Rick Snyder, succeeds in getting Detroit through its financial emergency and moving toward a reality-based government.

Conversely, Finney's many rivals in the tough competition to lure investment and jobs are surely rubbing their hands when -- in the midst of crisis -- they see the City Council president shirtless, showing off his abs, and hear people in Michigan's largest city publicly proclaiming plans to burn the place down before allowing the state to manage its money.

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Many MBA programs still cater too much to the needs of large, corporate management jobs or prepare students to enter big consulting companies or investments banks.

If you haven’t read Adam Lashinsky’s awesome new book about Apple, you should. It takes on many of the lessons MBA programs and Corporate America have been teaching about business for the past 50+ years and questions whether lessons from Apple might be more applicable in thinking about the future.

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Trust

As an entrepreneur, your personal integrity is critical for getting and keeping the support of investors and team members, and your company’s integrity is critical for getting and keeping customers and vendors. But in a practical sense, what does that really mean?

Most definitions of integrity include something like “the quality of being honest and morally upright.” Yet, I’ve found through experience that both honesty and morality are relative terms, depending on the reference point of both the speaker and the receiver. In business, the only view that counts is that of the receiver.

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I would normally rather have a root canal instead of write about the issue of women in technology. I just find most essays on this really tedious and obvious. (Sorry Alexia.)

But I do want to point one thing out. When I went to my first Y Combinator Demo Day three years ago, there was one woman. At this week’s Demo Day, there were six companies with one or all female founders among the 66 startups in the class.

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GetReady

In last week’s Get Rich or Die Trying article, I mentioned that “tech is a zero-sum, winner takes all game”.  A reader objected, arguing: “I think that may be an inappropriate use of the term ‘zero-sum’ – one company’s increase in profits (or revenue) does not mean a competitor must see declining profits (or revenue)”.

History suggests that Jack Welch’s philosophy that “a company should be #1 or #2 in a particular industry or else leave it completely” is even more applicable to the tech industry, where the top player can build a sustainable and ever-growing business but everyone else is practically better off getting out.

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jobs

Last year, Utah was once again ranked first in economic outlook in the American Legislative Exchange Council (ALEC)-Laffer Economic Competitiveness Index.

This year, the Governor’s Office of Economic Development (GOED), World Trade Center Utah (WTC Utah), the Utah Science Technology and Research initiative (USTAR), and the Office of Energy Development (OED) have co-located at 60 East South Temple, Third Floor, in the heart of City Creek, part of Salt Lake City’s multi-billion-dollar downtown revitalization. The building, which will be rebranded as the World Trade Center at City Creek, sits at the intersection of State Street and South Temple near the city’s historic Eagle Gate. The address of the new office is 60 East South Temple, Third Floor, Salt Lake City, UT 84111.

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