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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.

Nevada

Venture capitalists may have invested 10 percent more money in startups last year, shelling out $32.6 billion, but the funding of startups in Nevada was basically non-existent last year, according to Dow Jones VentureSource.

The number of deals by U.S.-based venture companies increased 6 percent to 3,209 including several well-known companies such as Twitter, Zynga and LivingSocial.

"Overall in 2011, venture investment continued its steady postrecession ascent with notable strength in enterprise solutions," said Jessica Canning, global research director for Dow Jones VentureSource.

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Race

BRITAIN, a fierce competitor in the global race to develop the best startup ecosystem in the world, will soon host delegations of startup leaders from more than 100 countries in an effort to find the fastest path to the finish line.

Entrepreneurship promotion is no longer hopelessly intertwined with the discussion of “small and medium enterprises” (SMEs). Instead, it is now focused on building resourceful systems that accelerate any nation’s talent to introduce new disruptive ideas and firms that turn them into innovations that change lives and drive markets. Such an effort is screaming for cross-border collaboration and leadership and the Global Entrepreneurship Congress – occurring this March in Liverpool – promises a global conversation on how to get there.

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Content

The content creation class shall inherit the Internet. Richard Florida coined the expression the “Creative Class”, his belief being that these some 30 to 40 million would be the driving force for economic development in a postindustrial world. Instead of driving the macro economy the Content Creation Class refers to the group of people who drive content on the internet those that write blogs, those that upload video to YouTube, and those that upload pictures to share with the world.

The Internet is a key segment within this postindustrial world identified by Florida. Since the emergence of Webernets, two distinct classes that have emerged — those that create content and those who consume it. For every content creator there are far more individuals that consume content. Like other class systems, there are inherent advantages or disadvantages with each class. While content creators have had their share of benefits, the concept of mass content creation also comes with its own risks.

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OMalley

Gov. Martin O‟Malley will call for more than $6 million to spin research conducted at university labs into new companies, aides said Tuesday.

The proposal seeks to address the gulf between the state‟s strong track record in attracting research dollars and relative lack of success in turning that funding into commercial ventures, an issue that commands the attention of academics and business leaders alike.

The new state allotment would be used to fund promising technologies and fund research of others.

“The gap we‟re trying to fill is getting that idea, that concept

from research bench to venture capital stage,” said Patrick J. Hogan, associate vice chancellor for government relations at the University System of Maryland. “The idea is to throw 20 darts at the wall — 20 small darts and hope you get four or five winners.”

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NewImage

Europe is often seen as being less entrepreneurial than the United States, where studies consistently show that people are more willing to take risks.

Entrepreneurs can tap into national and EU funds to help get off the ground – but while some plead for state intervention to promote small businesses and start-ups, others would simply prefer governments to leave them to it.

99% of companies in the EU are small and medium-sized enterprises (SMEs), accounting for about two-thirds of jobs and GDP. However, less than 10% of them export goods and services within the bloc.

In February 2009, the European Commission launched Erasmus for Young Entrepreneurs (EYE), a pilot scheme allowing young businesspeople to spend between one and six months with an established entrepreneur in another EU country.

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baby

THE EMBEDDED REPORTER

There is a state of mind psychologists have dubbed the hypnopompic state that is a rich source of inspiration and fresh ideas.

In this state, most often associated with the first few minutes upon waking, the analytical mind is at bay and a fuzzier logic prevails.

It is as if a portal opens between worlds and we gain greater access to the subconscious part of mind where brilliance, insight, and expanded perception often reside.

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startup

Technologies that enable skin cancer detection on a mobile device, help commuters avoid traffic, and deliver better shopping experiences will be on display next week at the IBM (NYSE: IBM) SmartCamp Global Finals competition for entrepreneurs. These are just a few of the innovative solutions from startups that are working with IBM to improve the life of citizens around the globe.

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Mark Twain

In the world of business, you only get one chance for a great first impression. The stakes are high – you are asking an investor for money, a customer for an order, or another executive for a partnership. Badly written letters, long rambling or emotional emails, or an obvious lack of spell checking will brand you as a poor business risk before the message is even considered.

No one is born with business writing skills, and everyone can learn them. Yet this seems to be one of the most common failures I see in business professionals. I get serious letters to investors, requests for assistance, and business plans almost every day which violate the basic rules of business communication. We both lose when that happens.

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Dreaming of Money

The signs are everywhere. Students, women, yuppies, the unemployed, those facing a mid-life crisis, and a whole lot of other categories have succumbed to the e-bug. Frankly, the environment has never been more conducive. Of course, the risks associated with start-ups remain (see Hurdles you will face), with more than 50% of all start-ups failing within the first five years.

It's just that landing funds to fuel your venture is easier than ever before. Venture Intelligence, a research firm focused on venture capital and private equity deals in India, says there are 43 angel networks, 111 venture capital investors and 37 incubators in the country

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resume

In a startup, hiring a new employee can be a business-changing event. The smaller the organization, the more impact each employee has on its ultimate success.

Don’t get me wrong — hiring is critical in any size of company, but larger organizations have the ability to orient and train new employees to an extent that startups can’t offer.

In a large company, if a new employee fails, the work can be redistributed and absorbed by other employees without having a significant impact. In a startup, a bad hire can be devastating. To make matters worse, startup owners rarely have dedicated HR staff, software tools or a hiring process that will take some of the risk out of hiring.

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NewImage

An exciting moment is upon us, where some of the assumptions that have long governed our economy are beginning to unravel. There is the possibility that we could come out of this recession with a new concept of what the economy is, who it serves, and how it works.

Reflecting on history, we know that moments for truly re-thinking the economy are scarce. The replacement of mercantilism with liberal economic theory was such a moment. The Keynesian revolution was another. But where will this current moment of crisis take us? Will we succeed in powering a new economy? What ideas and solutions will enable our transition to a new economic paradigm? And what exactly would a new economy look like?

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On the Scale

It inspires confidence when a dentist has good teeth, or a hairstylist has a chic ‘do, or when the salesperson at a boutique has an immaculate sense of personal style. The same may be true of doctors who maintain a healthy weight — which may help explain why those who are overweight are less likely to broach the topic of weight loss with their patients.

In a study of 500 primary care physicians around the country, researchers at the Johns Hopkins Bloomberg School of Public Health and the Johns Hopkins University School of Medicine found that a doctor’s own size influenced how he or she cared for patients with weight problems. Overweight or obese physicians were less likely to discuss weight loss with heavy patients: only 18% of these doctors discussed losing weight with their patients while 30% of normal weight physicians did.

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Kauffman Foundation Logo

During the 2012 Super Bowl on Feb. 5, the Giants and the Patriots won't be the only star athletes honored. The Ewing Marion Kauffman Foundation will be acknowledging the star athletes of the economy -- entrepreneurs -- in its first-ever public service announcement dedicated to inspiring the next great entrepreneurs to take action.

The "Will it be you?" PSA highlights entrepreneurs' contributions to the economy, job creation and innovation. It also challenges viewers to consider turning their own ideas into businesses by directing them to www.willitbeyou.com , a Kauffman website that provides would-be founders with resources to help them get their plans moving -- whether they are seeking inspiration, mentoring, networking, or other assistance.

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Tom Ryan says a major part of his success is down to surrounding himself with talented people

How does running a business differ around the world? In a new series, the BBC News Website is speaking to successful entrepreneurs from around the globe about the secrets of their success, and the challenges they have faced. In the first instalment, three US business people explore what drives American entrepreneurship.

Tom Ryan is just your typical, easy-going American entrepreneur - he wants to take over the world.

Mr Ryan is founder of restaurant chain Smashburger, one of the fastest-growing companies in the US.

From just one outlet in Denver in 2007, it now has more than 150 branches nationwide, and will later this year open its first foreign sites in Kuwait, Canada and Costa Rica.

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Ville de Quebec

Quebec City has successfully completed the second round of the prestigious international contest organized by the Intelligent Community Forum (ICF) and has been named one of the Top 7 Intelligent Communities. The announcement was made in Honolulu, Hawaii by Louis Zacharilla, Director of Development for ICF. Last October, Quebec City was ranked among the Smart 21 Communities for the second year in a row. Nearly 400 applications from cities and regions around the world were evaluated.

The other Top 7 Intelligent Communities are Austin, Texas; Oulu, Finland; Riverside, California; Taichung City, Taiwan; Saint John, New Brunswick; and Stratford, Ontario.

“I am very proud that we have received this honour,” said Régis Labeaume, Mayor of Quebec City. “The fact that Quebec City has been recognized in the Top 7 is an extraordinary achievement. This decision confirms that Quebec City has a priceless asset: its innovative creative community! In addition, over the next few years, our efforts will be increasingly focused on our highly promising creative capacity, as announced when our economic development strategy was presented back in December.”

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Angel

If you’re looking for funding for your new business this year, you may look for angel investors or venture capital firms. 2011 was a particularly bad year for private investors like these but that doesn’t mean that they don’t have money to lend in 2012.

In fact, some of the larger, more established private funds make very few changes to their lending schedule based on economic conditions. There’s still a lot of money out there for you but what is attracting their attention? Venture capitalists and angel investors want to invest in the next hottest sector and that changes each year. What are they looking for this year?

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Minnesota Governor Mark Dayton says his $775 million bond-financed infrastructure plan will create 21,700 jobs. Democrats and Republicans, who are generally pushing tax cuts to create jobs, are showing their philosophical differences this year on the question of how to put people to work.

With unemployment stuck at stubbornly high rates in many states, it’s no surprise that governors in 2012 are talking a lot about the need to create jobs. But while some governors are outlining lofty,  sweeping promises, Maine Governor Paul LePage cut to the chase.

“As governor,” the Republican said in his state of the state address last week, “I cannot directly create private sector jobs.”

LePage’s point-blank phrasing sums up how Republicans are approaching the jobs question in the states this year — and their deep philosophical difference with how Democrats are viewing it.

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USPTO

The Commerce Department’s U.S. Patent and Trademark Office (USPTO) is expanding its nationwide call for nominees for the 2012 National Medal of Technology and Innovation (NMTI). The Congressionally authorized medal is presented each year by the President of the United States and is the country’s highest award for technological achievement.

“We want to honor this nation’s creative geniuses,” said Richard Maulsby, the USPTO’s acting chief communication officer and NMTI program coordinator. “This medal goes to innovators whose talent helps guarantee U.S. leadership in technology across the board.”

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CHIDS

The Robert H. Smith School of Business at the University of Maryland invites students nationwide to enter the Innovate 4 Healthcare Challenge and compete for a $20,000 first prize and a pair of $5,000 runner-up prizes.

Teams of up to 5 students will design a plan to improve patient engagement with their health care providers using information technology.

Created by the Smith School's Center for Health Information and Decision Systems (CHIDS) and co-sponsored by Johnson & Johnson Services, Inc., the "Innovate 4 Healthcare Challenge" will culminate in a final round of presentations at the Smith School's campus in Washington D.C. in April, 2012.

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Art Jacoby

The Tech Council of Maryland    has named Art Jacoby, a Catonsville, Md.-based small business consultant, as its interim CEO.

Jacoby, who is also a managing partner at Maryland Cyber Investment Partners, will head up the technology and biotech trade group while it looks for a full-time replacement for former chief executive Renee Winsky, who left the council in December. In an interview Monday, Jacoby said he expects to hold the position for two to five months – however long it takes to find a permanent chief.

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