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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.

A veterinarian places Tzvika, an injured female turtle, on a carpet at the Wildlife Hospital in the Ramat Gan Safari near Tel Aviv January 5, 2011. Now she's a cyborg turtle.

About two months ago Tzvika was run over by a lawn mower, suffering severe damage to her shell and a spinal injury that affected her ability to use her rear limbs. The wheels, attached by veterinarians at the Safari, elevate the turtle to keep the shell from being worn down and enable her to walk.

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“Real” 4G Mobile broadband. Verizon recently launched its 4G LTE network (via laptop modem cards). The Verizon network speed dwarfs the “4G” networks being advertised by Sprint and T-Mobile. Verizon’s 4G will be users’ first taste of true mobile broadband and will further drive mobile data usage and the percentage of time users spend on the mobile Internet. The first 4G LTE handsets will be introduced mid-year and will be lighting fast compared to 3G models. Verizon’s 4G deployment combined with its rumored access to the iPhone market will place substantial pressure on AT&T to accelerate its 4G rollout with exciting new (likely Android-based) handsets.

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Various reports are noting that as many as 80 tablet devices are debuting at this year's Consumer Electronics Show (CES)--the long-expected tide of iPad challengers, powered by Android, Windows or some other code. Some of these will garner the label "iPad Killer," and stand out from the rest. What are these devices, and do they actually stand a chance of slaying Apple's monstrously successful iPad, with a hot new update soon to arrive?

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One of the least understood aspects of entrepreneurship is why small businesses fail, and there’s a simple reason for the confusion: Most of the evidence comes from the entrepreneurs themselves.

I have had a close-up view of numerous business failures —
including a few start-ups of my own. And from my observation, the reasons for failure cited by the owners are frequently off point, which kind of makes sense when you think about it. If the owners really knew what they were doing wrong, they might have been able to fix the problem. Often, it’s simply a matter of denial or of not knowing what you don’t know.

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Result for the election of "2010 Amazing China - the Most Attractive Chinese Cities for Foreigners" is announced in Beijing on January 5, 2010.

Beijing, Shanghai, Dalian, Hangzhou, Shenzhen, Tianjin, Qingdao, Xiamen, Yantai and Wuhu are selected as "the 10 Most Attractive Chinese Cities for Foreigners".

Another 10 cities are nominated including Nanjing, Wuhan, Guilin, Sanya, Chendu, Changchun, Changsha, Lanzhou, Dali and Nanning.

From June to November, 2010, this Selection has attracted more than 179,000 foreign participants who voted on-line, and the ballot covers 353 cities, at the prefecture level or above, in mainland China (exclusive of Hong Kong, Macao and Taiwan). The judging panel consisted of 40 foreign experts, including 39 Chinese Government Friendship Award recipients, such as Tsung Dao Lee, Chinese-American Physicist; Evgeny Kasperskiy, esteemed specialist in the international anti-virus area; Richard David Jackson, President of Shenzhen Development Bank; Morihiko Hiramatsu, initiator of the "One Village, One Product" movement; Pedro Nueno Iniesta, Executive President of China Europe International Business School (CEIBS); Daniel J. Dudek, Chief Economist of the Environmental Defense, USA; Edwin Charles Maher, Host of English Service, CCTV International; and senior foreign expert Soeda Shuhei. Talented foreigners and foreign experts participated by casting their votes based on two general aspects: "city environment for working and entrepreneurship", "city living environment" and 10 detailed indexes. Finally, the results for "2010 Amazing China- the Most Attractive Chinese Cities for Foreigners" and the shortlisted "2010 Amazing China - the 10 Most Attractive Chinese Cities for Foreigners" comes out.

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When deciding where to invest your money, you weigh the potential return against the risk. Money market accounts offer minimal risk but modest returns, while corporate stocks typically produce much higher returns at the cost of greater risk. Corporations considering major capital outlays essentially weigh the same factors, except for one caveat: low expected returns are rarely tolerated, because they act as a drag on the company's earnings and growth.

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If you startup is your dream, why would you want to think about an exit? It’s going to be so successful and so much fun that you don’t need to think about what comes after. Wrong. There are two very real and practical reasons why you need to plan an exit:

  • Outside investors want to collect their return. Remember that equity investments are not like loans with interest. The investor sees no return until he cashes out, or the company is sold. Even three years is a long time to wait for any pay check.
  • Entrepreneurs love the art of the start. Assuming your startup takes off, you will probably find that the fun is gone by the time you reach 50 employees, or a few million in revenue. The job changes from creating a “work of art” to operating a “cookie cutter.”
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Over the past few years, as the credit crunch tightened, we’ve all heard horror stories from successful entrepreneurs who had growing businesses but couldn’t get working capital, or saw their business lines of credit cut or their loans called in for no reason. No wonder many small business owners have become leery of traditional financing sources.

For small business owners seeking capital in a tough economy, will crowdfunding prove to be the next big thing?

Crowdfunding has some similarities to the peer-to-peer lending sites, such as Prosper.com, that arose several years ago, but some important differences as well. Both types of sites allow individuals to solicit financing from others for any purpose. But while peer-to-peer lending typically focuses on one individual lending to another, crowdfunding—as its name implies—aims to reach a funding goal by getting many investors to put in small amounts.

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Common sense — also known as street smarts, experience, know-how, etc — might just be the key factor in whether you will succeed as an entrepreneur. While there is a lot to be said about education, sometimes the best route is just to be there and learn it hands on.

According to Reliable Plant, Groupon founder Andrew Mason is a good example of how common sense can lead to a successful business. As a teenager he sold bagels to his neighbors. When he noticed that candy was a better seller, he made the switch. The intelligence he demonstrated by adjusting his business to fit the needs of his neighborhood is being recognized by new research as the central lesson that all business owners need to succeed.

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If you're an entrepreneur, you're probably going to screw up at some point. That's ok. Entrepreneurship is a constant process of quickly testing hypotheses, failing, refining and testing again. If you're not failing, you're not learning, right?

Well, not all fails are created equal. Some are wholly unnecessary, and I'd like to list my top 15 here. Note that many of these are based on advice from actual entrepreneurs who would rather you learn from their mistakes than repeat them.

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Crowdfunding your startup through sites like Kickstarter and IndieGoGO has become an interesting, and in many cases, quite viable way of financing your project. A number of individuals and companies have been able to raise pretty substantial amounts of money through these services, going well beyond what they initially set as their funding targets.

Most notably of late, was the success of Lunatik/TikTok iPod Nano wristwatch, which set the record for the most money raised via Kickstarter to-date: almost $950,000 from over 13,000 backers. Not too shabby considering Scott Wilson and his MINIMAL design studio set out to raise a mere $15,000 in order to get licensing and manufacturing for the project under way.

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The PIPELINE Entrepreneurial Fellowship Program announced today the national panel of experts who will help select PIPELINE’s "Innovator of the Year" on January 27 in Overland Park. The judges will have full participation in the day and evening events, and will share their insights with the crowd during a PIPELINE "Entrepreneurial and Innovation Trends" panel at 4:00 p.m., at the close of the Competition and before the evening event. All ticket holders for the evening function can attend this session.

"Our country is looking toward innovation and entrepreneurship to strengthen our economy at a pivotal time. PIPELINE has captured national attention as a strong ally in this work, so I am excited to join as a judge to meet the Innovators and learn more about how this aggressive program works."

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Without warning cancer can arise from a single catastrophic chromosomal event involving tens to hundreds of breaks in the DNA that are haphazardly pieced back together, researchers reported in the January 7th issue of Cell.

"In most cancers, a handful of mutations are accumulated over time, gradually evolving into a more aggressive form," said Peter Campbell, blood oncologist at the Wellcome Trust Sanger Institute and lead author of the study. But in some situations, he adds, cancer can come out of nowhere, leaving its victim little time for treatment.
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Through targeted business assistance, the Florida Economic Gardening Institute (FEGI) and its program GrowFL helped entrepreneurial growth companies create at least 418 jobs throughout the state in just its first year. Based on proven business support strategies referred to as “economic gardening,” the State of Florida-funded program targets companies in the second stage of growth that have passed the start-up phase and are most likely to create jobs.

Of the 208 companies that have participated in the program to date, 124 responded to GrowFL’s recent job creation survey. Those companies reported creating 418 jobs as a result of participating in the GrowFL program. CEOs of second-stage businesses have had more than 1,300 encounters with the program, against the program’s initial goal of 1,000 encounters.

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Fears of a stalled recovery and a loss of American economic power globally are on the minds of many these days.

In a 21st century world where new products and innovation mean everything, the sciences – the engine of so much past American innovation – have suffered major cutbacks in funding from Congress.

On Thursday’s edition of On Point, host Tom Ashbrook asked whether science can nevertheless dig the country out of its financial hole, this time around.

It can, said Massachusetts Institute of Technology President Susan Hockfield.

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We’re kind of crazy about culture at my company. We know that happy employees make happy customers make happy shareholders. Plus, it’s just a lot more fun to go to work when you enjoy the environment, your co-workers and the company’s mission. We make it a point to study great cultures—Disney, Zappos and NetFlix are on our list- and we’re huge followers of Jim Collins’ work regarding culture building. We even have a staff position dedicated to running the company’s culture.

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When it comes to the price of gasoline, Christopher Steiner may be the ultimate contrarian. While other Americans bemoan prices of $3 a gallon or more, he says $3 a gallon is far too cheap.

Mr. Steiner believes that the United States will not beat its oft-cited "addiction to oil" until our most visible use of oil becomes a lot more expensive.

He is so convinced that in 2008 he wrote a book to convince others, provocatively titled, "$20 Per Gallon: How the Inevitable Rise in the Price of Gasoline Will Change Our Lives for the Better." The book, whose paperback version came out in July 2010, was inspired by the changes that he had already observed.

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The Great Recession changed the way many people live—and its repercussions appear to be altering how some people choose to die.

At least two prominent tissue banks have seen an increase in the number of individuals who are interested in donating their bodies to research in exchange for a break in funeral costs.

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Starting a small business or transitioning between jobs during a recession can be a risky move.

While no industry can guarantee stability these have demonstrated their resilience providing the most opportunities for steady income and employment as the economy recovers.

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