Fixing Technology Transfer

We think both sides are wrong in their embrace of the profit motive as a stimulator for university research innovation, and suggest a more fundamental rethinking of the use of commercialization as a way to get academic innovations into the market.

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What Dodd Bill Would Mean for Venture Capital and Private Equity

Senator Chris Dodd today unveiled the latest version of his financial regulatory reform bill which, if passed, would have some implications for the venture capital and private equity markets (despite some media suggestions that PE/VC escape scrutiny).

It’s a lot like the original bill from last fall, but with exactly 200 more pages (we’ll consider this the unabridged version). Here are the relevant highlights:

1. Dodd retains the original Senate bill’s registration exemption for venture capital and private equity funds. He also retains the original bill’s edict that the SEC is responsible for constructing a definition for “venture capital” funds and “private equity” funds — so as to differentiate them from “hedge funds” (which will be required to register).

As a reminder, an earlier House bill had only exempted venture capital funds of $150 million or less. Industry trade groups had insisted that any registration would be unwarrented, given that neither VC nor PE firms helped contribute to the financial meltdown. They’re right, but hedge fund reps could have made the same argument…

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2010 VC market outlook: No cash for clunkers

Throughout the financial crisis of 2008-09, most venture capitalists wisely advised startups to hunker down. The best bet, they said, was to lower expenses and, above all else, avoid fundraising in 2009, since all eyes were on 2010 as the proverbial light at the end of the tunnel. 

The advice, as it turns out, was somewhat short-sighted.

We are now 18 months past the height of the financial crisis. Back then, it didn’t require a doomsday-oriented PowerPoint presentation to know that difficult times lay ahead. The same, frustratingly, can be said today. This is a different capital environment, but it’s not necessarily any better. It’s just different – and it may be worse.

Because so many companies avoided fundraising last year, there is currently a glut of companies that likely need cash. Accordingly, the competition is fierce, and it includes many companies that didn’t grow much (if at all) in 2009. Many companies seeking funding in 2010 are (or soon will be) out of money, and as a result they’re in poor negotiating positions. Even good companies are fighting for one of history’s toughest investment pools.

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Medical Device Entrepreneur Shares His Story

Richard Caruso, co-founder of Integra Life Sciences, a regenerative medical device firm, shares his passion for being an entrepreneur. Says Caruso, "You have to get up with a mission in the morning as to what you want to accomplish, you have to be passionate about what you want to do."

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There is a contradiction between policy and practice on innovation

EVER SINCE the sky fell on us some time in 2008 we have, as a country, been struggling to see what we should be doing to get us back into economic health. What we have mainly focused on is controlling public expenditure and trying to shore up the exchequer.

The problem with this approach is that it deals with a really critical risk facing the country, but on its own it does not restore our fortunes. As anyone running a company knows, you cannot succeed in business simply by cutting costs. And this is where the national innovation agenda comes in.

It was first presented in the Government’s plan for economic recovery published in December 2008, Building Ireland’s Smart Economy. One of the key areas identified for attention was what was described as creating the “innovation island”, or developing economic success through human capital, or the translation of ideas into “valuable processes, products and services”.

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Innovation could add 250,000 jobs

The Taoiseach has launched a report which says up to 250,000 jobs in all sectors could be created through increased innovation.

The report of the Innovation Taskforce says some jobs can be brought through quickly.

Read the full report here

The report says Ireland is different from many other countries because it has a lot of multinational firms operating in a small area. It says greater co-operation and openness on the part of Government could help encourage such activity and give us a unique edge.

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Watch this Kauffman Foundation Event to be Web Cast Live

  Economics Bloggers Forum
8:30 a.m. - 4:00 p.m. CDT
Friday, March 19, 2010

Watch leading economics, technology, and finance bloggers discuss key policy issues and cutting-edge research on topics related to entrepreneurship, innovation, and growth. After a keynote address from David Warsh, author of the online economics column Economic Principals, a series of panel sessions will discuss the Great Recession, global economic development, and U.S. fiscal policy, and Stanford economist Paul Romer will address the forum with an original presentation on "Persuasion and Norms."

View Web Cast

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CHART OF THE DAY: Research In Motion Has Done A Great Job Defending Its Turf

When Apple's iPhone hit the market, it looked like it was only a matter of time before Apple ate BlackBerry maker RIM's lunch. While that could still be case, RIM has done a great job defending its turf to this point.

The newest data from comScore's mobile subscriber report shows RIM's slow but steady ascent over the past two years as the U.S. smartphone leader. Note that comScore data is based on user surveys, and reflects subscriber base -- not simply market share of a specific quarter's sales.

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Three Sins Against Innovation: In your enthusiasm to spur innovation, make sure you're not burning those who can provide it best

Every once in a while it's a good idea to make sure you're not—inadvertently—making it harder for either yourself or your team to be innovative. Here are three sins even the best managers commit occasionally. (We have been guilty of them ourselves.) We also offer suggestions how to guard against, and recover from, these pitfalls.

Sin No. 1: Saying "enough already."

We like to call the most innovative employees—the ones who can come up with countless ideas at the drop of the proverbial hat—"idea monkeys." We could say countless wonderful things about idea monkeys, and here are two of our favorites: They have boundless energy, and they are flexible. You want more ideas? Great! You want to brainstorm about something else? Even better! Your job in managing these kinds of employees—the ones who say, "We could do this" or "What about that?" and "Wouldn't it be so cool if"—is to focus their energy, not cut it off. So instead of yielding to the temptation to yell, "Please stop coming up with something new every 20 seconds," you should direct them where you want them to go. Suggest specific areas where you need innovation help. Discuss the outcome you want and explain the hurdles standing in your way. Be specific about the things that have you "stuck." Then strap in and enjoy the ride.

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‘Economic gardening’ concept could offer way to grow more jobs

The Lincoln Economic Development Association (LEDA) is looking to plant a garden, but not the kind filled with fruits and vegetables that grow in your backyard.

The Lincolnton-based organization is actually hoping to “grow” existing businesses, if they want, with “economic gardening,” a not-so-new concept that seems to be just now be sweeping across the nation.

Economic gardening was originally started in the City of Littleton, Colo. 23 years ago. The idea was to grow local jobs through entrepreneurial activity rather than recruiting.

Economic gardening breaks businesses down into three groups: stage one, 1-9 employees; stage two, 10-99 employees; stage three 100-500 employees; and stage four, more than 500 employees and the employer is considered a “large business.”

But the true focus on economic gardening is the stage-two companies, which have $1 million worth of sales, wanting to expand.

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6 Innovation And Management Lessons From Google

In a post for PoynterOnline, Steve Myers reports on what one of the Google teams had to say about management and innovation in their presentation at SXSW.

Some of the lessons:

• Set a specific goal, even if you don't know how you're going to accomplish it

• Create a culture that promotes getting things done above all else.

• Shield your employees from unnecessary distractions (i.e. bad suggestions from both inside and outside the organization) so they can focus on their current goals.

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Connecticut Wants to Fund Your Start-Up: How do you foster an innovation economy? Invest, says Connecticut.

When it comes to government investing in cleantech, the feds aren't the only game in town. 

In November of 2008, Connecticut established a $9 million Clean Tech Fund.  Geared to spark innovation in the Nutmeg State, the fund has invested just more than $2 million to date.

"We are looking for entrepreneurs at any stage and venture capitalists looking to partner with companies headquartered in Connecticut," said Patrick O'Neill, Investment Associate at Connecticut Innovations, at GoingGreen East recently. "We look for early-stage companies in cleantech -- broadly defined as any technology that conserves resources, reduces waste, or protects the environment."

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"Revenge of the Nerds" meets "American Idol" - Help Select the top high school innovators!

Help 25 of the top high school innovators design the future! On March 29th, the Spirit of Innovation Awards challenges YOU to vote for your favorite teams and help select this year's "Pete Conrad Scholars!"

Over the past 6 months, 25 finalist teams have created real products to solve some of the grand challenges facing society. From the depths of the oceans to the edges of space, these students will knock your socks off! Piezo-electric wallpaper, robotic astronaut assistants, advanced water purification systems, and Navajo Solar "Frybread" ovens; these are just a few of the amazing products high school students are designing.

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US Hydrogen Roadmaps and State’s Initiatives You May Not Know

Sometimes I like to tool around the Internet looking for hydrogen resources that may have flown under the radar of the mainstream media. In the U. S. there are many programs that are being developed simultaneously, especially different kinds of hydrogen roadmaps and state’s initiatives.

So, I thought I would outline a few of the most important and interesting of both of these areas.

Roadmaps

The National Hydrogen Energy Roadmap developed in 2002 outlines a vision for transitioning the U. S. to a hydrogen economy and H2-based transportation system.

The California Hydrogen Highway Blueprint is part of Governor Arnold Schwarzenegger’s directive in 2004 to the Golden State’s EPA to fast track the development of hydrogen fueling stations.

The Florida Accelerated Commercialization Strategy for Hydrogen Energy Technologies focused in particular the commercialization of H2 business in that state.

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Full Text: Report on China's national economic, social development plan

BEIJING, March 16 (Xinhua) -- The following is the full text of the Report on the Implementation of the 2009 Plan for National Economic and Social Development and on the 2010 Draft Plan for National Economic and Social Development, which was submitted on March 5 for review at the Third Session of the 11th National People's Congress and was adopted on March 14.

REPORT ON THE IMPLEMENTATION OF THE 2009 PLAN FOR

NATIONAL ECONOMIC AND SOCIAL DEVELOPMENT

AND ON THE 2010 DRAFT PLAN FOR

NATIONAL ECONOMIC AND SOCIAL DEVELOPMENT

Third Session of the Eleventh National People's Congress

March 5, 2010

National Development and Reform Commission

Fellow Deputies,

The National Development and Reform Commission has been entrusted by the State Council to report on the implementation of the 2009 plan for national economic and social development and on the 2010 draft plan for national economic and social development for your deliberation and approval at the Third Session of the Eleventh National People's Congress (NPC), and also for comments and suggestions from the members of the National Committee of the Chinese People's Political Consultative Conference (CPPCC).

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Five hot tips for cyber squatting

Domains, domains, domains. Who doesn't wish they could go back to the pioneering days of the Internet, pick up few money making URLs and do some cyber squatting old school style in one of the few get rich quick schemes that actually worked? Well, those after a second chance may get one of sorts when the Internet name governing body, ICANN, blows the field wide open later this year.

The plan is to allow anything.thatanyonewants at all come some time in the summer when the details and legalities are ironed out. According to a report put together on this so-called liberalisation of the Internet by Future Laboratories, as commissioned domain name registrars Gandi.net, the idea behind the move is to increase choice, promote innovation and spur competition. In reality, of course, it's also a possible chance to strike it rich again. So, here are a few tips on how to pick a new domain name that might just earn you a tidy little sum.

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Research and Markets: OECD Reviews of Innovation Policy: Korea 2009

DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/8422f8/oecd_reviews_of_in) has announced the addition of the "OECD Reviews of Innovation Policy: Korea 2009" report to their offering.

This report assesses the current status of Koreas innovation system and policies, and identifies where and how the government should focus its efforts to improve the countrys innovation capabilities. It finds that Korea has one of the highest rates of spending on R&D in the world, much of which is performed by private firms. It also has a highly educated labour force - as signalled by its impressive PISA performance and exceptionally high rates of tertiary level graduation - with a strong interest in science and technology.

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Should You Be Afraid of Airport Body Scans? Or Just the TSA?

We've talked a lot about full-body security scans in airports, as it's powerful and challenging tech. But should travelers worry about them--or is the Transportation Security Administration (TSA) what they should be more concerned about?

Over two dozen complaints filed with the TSA over the last year suggest that it's failing to do this job as well as it really should. Over 51 pages of these documents have just been requested by the Electronic Privacy Information Center under the Freedom of Information Act. They cover a broad swath of issues, with the main issue being lack of full disclosure by the TSA. Travelers complained there wasn't enough signage, or explanations about an alternative to the scan (a detailed pat-down by a person.) And others expressed concern that there was no explanation about the safety or potential risks involved in exposing children or pregnant women to the scans--medical issues which it's frankly inexcusable of the TSA to not be open about.

Some background: Most full-body scans essentially use electromagnetic radiations which are capable of penetrating through clothing but which bounce off flesh. Image sensors then create a picture of your body as if it were unclothed--leaving few places left to conceal weapons or contraband items. The scans are an augmented layer of security, designed to accompany metal detectors and pat-downs, alongside x-raying of your hand luggage. And they're being promoted all around the world as the next great thing in terrorism prevention, partly in the wake of the underwear bomber.

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Do Sharks Need Protection From Us?

Used in everything from soup to nutritional supplements and skincare products, sharks are a multi-billion dollar, global, mostly unregulated industry. Now conservationists want to declare eight species endangered.

With a powerful torpedo-shaped body almost the size of a bus, the ability to sniff out one drop of blood in 25 gallons of water--or up to three miles away--and fearsome toothy jaws, it's no wonder the very thought of sharks can send shivers up the spine. (Cue the theme music from Jaws).

But these deep-sea predators have much more to fear from humans than the other way around. Used in everything from soup to nutritional supplements and skincare products, sharks represent a multi-billion dollar global industry and the growing demand is pushing them towards extinction. Alas, even these eating machines have champions. And if they have their day during the Convention on International Trade in Endangered Species (CITES) Conference of Parties, which starts Saturday, eight shark species will be protected to ensure the sustainable trade of their products--oceanic whitetips, scalloped, smooth and great hammerheads, sandbar sharks, porbeagle sharks, and spiny dogfish (a type of shark).