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Week of June 27 - July 1, 2005Welcome to the National Dialogue on Entrepreneurship, an initiative of the Public Forum Institute made possible by a grant from the Kauffman Foundation of Kansas City. Through NDE-news, we bring you short summaries and analyses of various trends driving the innovation economy. Subscribe now to receive your weekly copy. Archived issues are available online. Links to the day's entrepreneurship stories from across the nation and around the world are posted each weekday on the NDE main page - bookmark it and stay informed about the latest entrepreneurship news. |
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New Research on Academia and Entrepreneurship The National Bureau for Economic Research (NBER) has recently posted a series of papers that will interest those who follow the role of universities in stimulating innovation and technology transfer. The papers were presented at a NBER conference held in April 2005, and will be part of a forthcoming volume on the topic of “Academic Science and Entrepreneurship” in
The Journal of Economic Behavior and Organization. Among the topics covered in the papers are explanations for faculty patenting behavior, the role of the Small Business Innovation Research (SBIR) program in stimulating biomedical start-ups, and the influence of university research on industry innovation. |
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Innovation Supporting the Environment A Cambridge, Massachusetts firm was recently presented with the Environmental Protection Agency’s 2005 Presidential Green Chemistry Award for Small Business for its innovative work in “natural plastics.” Metabolix was recognized by the EPA and the SBA Office of Advocacy for its role in helping to improve environmental quality by commercializing plastics made from renewable resources such as corn sugar and vegetable oil. Like their more common counterparts, natural plastics can be converted into a wide range of goods with an excellent shelf life, yet unlike ordinary plastics, they are biodegradable. |
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Biotech Continues to Lure Investors Earlier in June, NDE highlighted a study of what California’s biotechnology industry must do to remain a strong player in the field. Last week, NDE was at the Biotechnology Industry Organization (BIO) annual convention in Philadelphia when Ernst & Young released a study on the global outlook for the 30 year old industry, claiming that the biotech industry continues to grow rapidly and attract an increasing amount of investors. The report,
Beyond Borders 2005, shows that in 2004, global revenue increased by 17% to nearly $55 billion while the share of venture capital money going to the industry has increased from 4% to 21% since 1999. |
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The field of social entrepreneurship is booming, and the mainstream media are starting to acknowledge this trend. The latest evidence comes in the form of a new PBS series,
The New Heroes that premieres tomorrow (June 28) in most major PBS markets. The series, hosted by Robert Redford, profiles 12 impressive social entrepreneurs who have devoted themselves to solving pressing social problems. Among those profiled are Maria Teresa Leal, who heads a sewing cooperative in Rio De Janeiro’s favela shantytowns and Martin Fisher and Nick Moon, who produce and sell low-cost irrigation pumps in Kenya. |
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Most venture capitalists (VCs) will acknowledge that most of their investments do not go to brand-new start-ups. Instead, they back more established firms with the prospects to get big fast. But, some VC firms do specialize in early stage investments and the latest edition of Entrepreneur magazine offers a glimpse at this list. The fifth annual
Entrepreneur VC 100 lists the firms and organizations that made the most investments in early stage start-ups during 2004. Maryland’s Technology Development Corporation (www.marylandtedco.org) tops the list with fifteen early stage deals in 2004. Other start-up friendly VC firms include: Draper Fisher Jurvetson, Ignition Partners, Austin Ventures, Mobius Venture Capital, and Versant Ventures. |
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A Michigan Tech graduate student and a professor of electrical engineering and computer science at the University of Michigan each took home $25,000 for the state’s first ever Governor’s University Award for Commercialization Excellence (U-ACE). The idea for the competition came from a 2003 meeting between Governor Jennifer Granholm, the presidents of Michigan’s fifteen public universities, leaders of technology companies, and economic development professionals on ways to invigorate university-led growth in technology transfer. Finalists were judged on three criteria: Economic Impact, Stage of Commercialization, and Entrepreneurial Spirit. |
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The elusive quest for work-life balance takes a toll on many of us, and working mothers are often in the thick of this struggle. In recent years, many working mothers have decided that self-employment is the best way for them to make a living and to be there for their families. A new website and online magazine, Carpool Capitalists, is designed for this growing demographic. Developed by three working moms (a military historian, an opera singer and a jewelry designer), the site offers tips for home-based entrepreneurs as well as tips on parenting and other issues. |
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As the venture capital (VC) industry matures and emerges from the doldrums after the dot-com crash, lots of interesting ideas for new venture funds are starting to crop up. One new fund looks to invest venture capital in ideas that are ripe for franchising: the Plano, Texas-based Franchising Venture Group (FVG). FVG’s partners have experience with major franchises and are looking for deals and companies that have the potential to become world-class franchises themselves. |
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