Entrepreneurship & Innovation

Mohammad Anas Wahaj | 06 nov 2016

Organizations should continue to seek innovation to stay relevant and competitive. Achieving continuous innovation is challenging and organizations have to create an innovation-driven culture as a long-term strategy to sustain it. Manoj Vig, Enterprise Architect at Shire Pharmaceuticals, shares his views on innovation, how to establish innovation teams and what should be done to ensure innovation success - (1) Organizational DNA: Innovation is neither a project nor a process, it needs to be part of organizational DNA; Focus on teams and groups. (2) Collaboration is important: Collaborative environment helps innovation to sustain and succeed in innovation; Collaboration develops and refines innovative ideas. (3) Find zoom out team members: Include members with diverse set of skills and competencies, and those who can zoom out to get a bigger picture. (4) Innovation teams and performance engines: Innovation teams are necessary to provide performance teams to work better. Better coordination and partnership between the two for seamless and continuous innovation. (5) A crazy man's idea: Nurture ideation in organizations even though ideas may initially seem difficult or impossible; Encourage sharing and free flow of ideas. (6) Glocalization and reverse innovation: Innovation teams should learn from these concepts and seek out what has been successfully done as a prlect for a specific use case at one place and reconfigure it for a larger user base within the organization. (7) Innovation catalysts and champions: Look for innovation catalysts that will become part of a dedicated team and then find innovation champions within existing and potential user communities to work with catalysts to solidify the innovation-based culture thinking within the organization. (8) Don't worry, be crappy: As Guy Kawasaki once said the phrase to make a point that when something is done to be radically different and better, waiting for perfection is not a good strategy; Deliver products and services quickly and without fear of failure. Such products/services can be tagged as beta or in incubation for user awareness. This helps engage with users early, set the right level of expectations and create a positive feedback loop. (9) Don't just focus on problems: Solving current problems with users provide quick wins and credibility boosters and must be used by innovation teams to expand their focus and work towards identification of opportunities for users that did not exist before; Focus on creating new opportunities and disrupting current ways of doing things. Read on...

icrunchdata: 9 Tips to Establish Innovation Teams
Author: Manoj Vig

Mohammad Anas Wahaj | 03 nov 2016

There is always a difference of opinion when it comes to whether entrepreneurship is an inherent trait or it can be taught and learned. Both sides seem to have reasonable examples to justify their perspective. For those who value the concept of entreprenuership in business or are contemplating to tread entrepreneurial path, here are some good reads - (1) 'Stay Hungry, Stay Foolish' by Rashmi Bansal (2) 'Creativity Inc.' by Ed Catmull (3) 'Zero to None' by Blake Masters and Peter Thiel (4) 'Business Start Up 101' by Chris Gattis (5) 'The Four Hour Work Week' by Timothy Ferriss (6) 'How To Win Friends And Influence People' by Dale Carnegie (7) 'The Life and Business Lessons of Warren Buffett' by George Ilian (8) 'The Fountain Head' by Ayn Rand (9) 'Think and Grow Rich' by Napoleon Hill. Read on...

Entrepreneur: 9 Must Read Books on Entrepreneurship
Author: Saumya Kaushik

Mohammad Anas Wahaj | 29 oct 2016

Conflicts and wars, apart from taking human lives, causing destruction and displacing ordinary people, also disturbs affected children's educational future and creates regional human resources imbalances. The ongoing Syrian Civil War has led to an estimated quarter-million young people getting deprived of college education. Gordon Brown, former Prime Minister of UK and currently UN Special Envoy for Global Education, explains collaborative role of charities, philanthropists and nonprofit foundations to overcome educational deprivation of displaced students. He advocates the need of realizing the potential of social enterprises to fill the gaps in global education. He says, 'With 260 million children not in school worldwide, education needs more champions to match the enthusiasm of advocates in, say, the global-health and environmental movements. There is more room for innovation in education than in any other international-development sector, especially as digital technologies and the Internet become more accessible even in the world's poorest regions.' He shares how Catalyst Trust for Universal Education, an education focused social entperise founded by former New York University President John Sexton, is helping out in global education efforts. Catalyst Trust participates in PEER (Platform for Education in Emergencies Response) project intended to connect college-ready Syrian refugees with refugee-ready colleges. Explaining the future of PEER project, he comments, 'In time, PEER will serve as a conduit to higher education for displaced students worldwide, and it will cater to all education levels, by providing web-based information, points of contact, and much-needed counseling and support.' He advocates support to social startups like Catalyst Trust, that are working on various aspects of education globally. He encourages education reformers to learn from pioneering work of Sir Ronald Cohen on social-impact investing. He cites some specific pilot projects that individuals and organizations can support to make a difference in education - help refugee students in their education; human-rights education to determine how school curricula can best cultivate inter-faith understanding; help the two million students who are blind or visually impaired, and whose educational needs have long been neglected. With new technology, we can now leapfrog the 150-year-old braille system and instantly render text into audio recordings, making all types of learning materials accessible to the visually impaired. Mr. Brown concludes, 'For anyone who cares about education, our task is clear: to furnish millions of poor people, especially in the remotest parts of the world, with the innovations they need to transform and improve their lives through learning. As the Catalyst Trust intends to show, a little social enterprise goes a long way.' Read on...

Project Syndicate: Education Needs Social Enterprise
Author: Gordon Brown

Mohammad Anas Wahaj | 30 sep 2016

According to the first experts' poll conducted by Thomson Reuters Foundation (poll2016.trust.org), in partnership with Deutsche Bank, the Global Social Entrepreneurship Network (GSEN) and UnLtd, the top nations for social entrepreneurs are - (1) United States (2) Canada (3) United Kingdom (4) Singapore (5) Israel (6) Chile (7) South Korea (8) Hong Kong (9) Malaysia (10) France. The poll included survey of about 900 social enterprise experts (social entrepreneurs, academics, investors, policy-makers and support networks) in the world's 45 biggest economies. 85% of the experts said the number of social entrepreneurs finding ways of combining business with social purpose was growing although there is little data tracking the sector. According to Natalia Oberti Noguera, founder of Pipeline Angels (US), 'If someone's interested in financial return on investment, that's not a good fit. We're about so much more. We're about doing good, we're about doing well.' Nearly 60% of the experts surveyed cited three major challenges in the growing sector - people do not know what social entrepreneurs do, which makes raising funds difficult and selling to governments is an uphill struggle. Anne Katrine Heje Larsen, founder and CEO of KPH (Denmark), says, 'There are still too many people who view social entrepreneurs as a bunch of hash-fuming utopian people in knitted sweaters. They couldn't be more wrong.' According to Ayşe Sabuncu, co-founder of Impact Hub Istanbulin (Turkey), 'People do not understand social entrepreneurs create money making businesses like any other business, and they question the philosophy of it if the entrepreneur ends up making profit.' Andy Carnahan, a Swedish social entrepreneur, says, 'A greater understanding of how for-profit businesses can be a driving force for social good would help. We need this (awareness)...among the public who don't realize how much good can be done by a for-profit business that has a social good built into its business model.' Poll found that India, Philippines and South Korea are among those where social entrepreneurs were finding it easiest to access investment. According to Prashanth Venkataramana of Essmart Global, 'A lot of people see India as an opportunity overseas, especially in America.' Bank of America's 2016 survey found that 85% of millennials were interested in having a social impact through investment. It also found that women were more interested in impact investing than men. Peetachai 'Neil' Dejkraisak of Siam Organic (Thailand) says, 'World-class social enterprises are run by women in Asia. They do a really good job balancing the social and financial objectives.' Rosemary Addis, chair of Impact Investing Australia, says, 'Individual enterprises are finding a niche and finding they can engage the market and sell their products or services. But as a sector, the concept of social enterprise and purpose-driven business has not yet got mainstream awareness. That's a job ahead to educate the public.' Read on...

Huffington Post: U.S. Is Best Country For Social Entrepreneurs - Poll
Authors: Pietro Lombardi, Ellen Wulfhorst, Pauline Askin, Nita Bhalla, Alisa Tang, Belinda Goldsmith

Mohammad Anas Wahaj | 17 sep 2016

Researchers from Stanford University [Po-Chun Hsu, Alex Y. Song, Peter B. Catrysse, Chong Liu, Yucan Peng, Jin Xie, Shanhui Fan, Yi Cui] have developed a low-cost, plastic-based textile that, when woven into clothing, has the ability to keep the body cool more efficiently as compared to the natural or synthetic fabrics that are used today. The research was published in journal 'Science' titled, 'Radiative human body cooling by nanoporous polyethylene textile'. According to Prof. Yi Cui of Materials Science and Engineering, 'If you can cool the person rather than the building where they work or live, that will save energy.' The new material cools by letting perspiration evaporate through it, as fabrics normally do. But the other most innovative characteristic of the material's cooling mechanism is that it allows heat that the body emits as infrared radiation to pass through the plastic textile. Prof. Shanhui Fan of Electrical Engineering says, '40-60% of our body heat is dissipated as infrared radiation when we are sitting in an office. But until now there has been little or no research on designing the thermal radiation characteristics of textiles.' Researchers engineered the cooling material by blending nanotechnology photonics and chemistry to give polyethylene, the material used as kitchen wrap, a number of characteristics desirable in clothing material. It allows thermal radiation, air and water vapor to pass right through, and it is opaque to visible light. Prof. Cui says, 'If you want to make a textile, you have to be able to make huge volumes inexpensively.' According to Prof. Fan, 'This research opens up new avenues of inquiry to cool or heat things, passively, without the use of outside energy, by tuning materials to dissipate or trap infrared radiation.' Read on...

Stanford News: Stanford engineers develop a plastic clothing material that cools the skin
Author: Tom Abate

Mohammad Anas Wahaj | 07 sep 2016

Students have to be taught about entrepreneurship and innovation early in their educational stage to better prepare them to adapt to the technology-enabled disruptive future of the world of work. Experts predict that technology is transforming work so rapidly that 40% of the jobs of today will disappear within 10-15 years. According to The Committee for Economic Development of Australia (CEDA), advances in computer technology and automation would result in around five million job losses. Prof. Stephen Martin, Chief Executive of CEDA, says, 'If we do not embrace massive economic reform and focus on incentivising innovation, we will simply be left behind in an increasingly competitive global marketplace.' Jo Burston, serial entrepreneur and founder of small business platform 'Inspiring Rare Birds', has created an education venture 'Phronesis Academy' with Prof. Richard Seymour of Sydney Business School. According to Ms. Burston, 'Phronesis in Greek means practical wisdom - it's all about learning in action. There is actually no right or wrong and there is no pass or fail because we know that in entrepreneurship those things don't actually exist...We need to have young people thinking as entrepreneurs as they go into businesses because businesses are wanting to innovate. So the people who can innovate and create new revenue lines are the ones who are going to be highly regarded in their positions and I think there's an entrepreneurial mindset around being able to do that.' Jayant Prakash, business teacher at Darwin High School, says, 'It's very important to know entrepreneurial skills because every day we get up in the morning and we are dealing in the world of business, we want our young people to be innovative in nature and this subject gives them the chance to develop ideas.' Read on...

Huffington Post: Why High School Is The Best Place To Nurture Our Entrepreneurs
Author: Cathy Anderson

Mohammad Anas Wahaj | 03 sep 2016

Multidisciplinary team of researchers lead by Prof. Amin Salehi-Khojin from University of Illinois at Chicago (UIC) have engineered a process through a solar cell to mimic plants' ability to convert carbon dioxide into fuel, a way to decrease the amounts of harmful gas in the atmosphere and produce clean energy. According to Prof. Salehi-Khojin, 'The artificial leaf essentially recycles carbon dioxide. And it's powered entirely by the sun, mimicking the real photosynthesis process. Real leaves use the energy from the sun and convert carbon dioxide to sugar. In the artificial leaf that we built, we use the sun and we convert CO2 to (synthetic gas), which can be converted to any hydrocarbon, like gasoline.' Describing the process Prof. Salehi-Khojin said, 'The energy of the sun rearranges the chemical bonds of the carbon dioxide. So the sun's energy is being stored in the form of chemical bonds, which can be burned as fuel...Scientists around the world have been studying carbon reduction, as this type of reaction is called, for years.' Prof. Nathan Lewis of California Institute of Technology, who has been studying solar fuels and artificial photosynthesis for more than 40 years, says, 'UIC's development is only a small piece of an eventual solar fuel product that can be widely implemented. There's a lot of steps that need to occur to envision how these things would translate into a commercializable system, but it's a step for building a piece of a full system that may be useful.' Prof. Michael R. Wasielewski of Northwestern University comments, 'UIC's development could push renewable energy technology forward.' The research, 'Nanostructured transition metal dichalcogenide electrocatalysts for CO2 reduction in ionic liquid', was recently published in journal 'Science'. UIC News Center website (news.uic.edu) provides the following information about co-authors and collaborators of this research - Amin Salehi-Khojin, Mohammad Asadi, Kibum Kim, Aditya Venkata Addepalli, Pedram Abbasi, Poya Yasaei, Amirhossein Behranginia, Bijandra Kumar and Jeremiah Abiade of UIC's Mechanical and Industrial Engineering Department, who performed the electrochemical experiments and prepared the catalyst; Robert F. Klie and Patrick Phillips of UIC's Physics Department, who performed electron microscopy and spectroscopy experiments; Larry A. Curtiss, Cong Liu and Peter Zapol of Argonne National Laboratory, who did Density Functional Theory calculations; Richard Haasch of the University of Illinois at Urbana-Champaign, who did ultraviolet photoelectron spectroscopy; José M. Cerrato of the University of New Mexico, who did elemental analysis. Read on...

Chicago Tribune: UIC researchers develop artificial leaf that turns CO2 into fuel
Author: Ally Marotti

Mohammad Anas Wahaj | 25 aug 2016

Entrepreneurs thrive in regions and countries that have developed better and facilitating entrepreneurial ecosystem than others. According to Alberta's Center for Innovation Studies, Canada has the second-highest level of entrepreneurial activity in the world. Andrea Stairs, Managing Director of eBay Canada, provide five traits of successful online entrepreneurs shared by winners of eBay Canada's 'Entrepreneur of the Year' award - (1) They are strategic. They map out their growth. A recent BDC survey of Canadian entrepreneurs found that successful businesses are much more likely (71%) to have a strategic plan than less successful companies (46%). (2) They think globally from the outset. (3) They focus on niches to differentiate themselves from the competition. (4) They are passionate and resourceful. (5) They are resilient. They learn from failure and pivot in the face of obstacles. Read on...

Huffington Post: 5 Traits Of Successful Online Entrepreneurs
Author: Andrea Stairs

Mohammad Anas Wahaj | 25 jul 2016

Prof. Henry Chesbrough of University of California at Berkeley, coined the term 'Open Innovation' in his book "Open Innovation: The New Imperative for Creating and Profiting from Technology" that was published on 2003. According to website OpenInnovation.net, 'Open Innovation is a paradigm that assumes that firms can and should use external ideas as well as internal ideas, and internal and external paths to market, as the firms look to advance their technology.' Organizations are now more commonly adopting open innovation. As Prof. Chesbrough suggested in his research few years ago that nearly 80% of organizations were already dabbling with open innovation in some form or other. In 2015, Carlos Moedas (European Union's Commissionar for Research, Science and Innovation), outlined the goals for his organization as 'Open Innovation, Open Science and Open to the World'. Recently EU published a paper to highlight its commitment to an open and transparent approach to innovation and related policy initiatives. In terms of supporting open innovation throughout Europe, the EU's focus is in four key areas - PUBLIC SECTOR: By providing a regulatory framework that supports and incentivizes open knowledge and cooperation; FINANCIAL SECTOR: By ensuring that innovation-friendly funding is available; INNOVATIVE BUSINESSES: By reducing market fragmentation throughout Europe to help companies commercialize their work; ACADEMIA: By supporting the development of co-creation capabilities and the ease with which research finds its way into business. Supporting 'Open Science' is a key part of the EU's desire for more effective and open innovation as it facilitates the free movement of knowledge throughout the continent. In this regard, EU is focusing efforts in five key policy areas - Fostering and creating incentives for open science; Removing barriers to open science; Mainstreaming and further promoting open access policies; Developing research infrastructures for open science; Embedding open science in society as a socio-economic driver. The final component of EU's open innovation strategy is to foster international cooperation in research and innovation. Horizon 2020, is one such program in the direction of making open science a norm globally. Moreover, international cooperation is key to tackle issues like climate change, driverless technology etc. The paper concludes, 'Science and innovation are global endeavours and researchers should be able to work together smoothly across borders, particularly on large-scale common challenges. The strategic approach to EU international cooperation aims to develop common principles and adequate framework conditions for engaging in cooperation.' Read on...

Huffington Post: Open Innovation, Open Science And Open To The World
Author: Adi Gaskell

Mohammad Anas Wahaj | 17 jul 2016

In today's highly competitive and fast paced world of business, innovation can be a differentiating factor and a source of strategic advantage. It can help businesses to stay ahead on the success curve. Risk-taking is an important component of innovative thought process and activity. Val DiFebo, CEO of Deutsch New York, suggests three ways to encourage employees to take risks and build an innovation seeking organization - (1) Explore Unchartered Territory: Encourage risk-taking by rewarding and applauding new ideas and by listening and building when teams want to do things that don't exist. Explore the uncharted territory strategically and patiently. (2) Support the Ideas: Provide support financially and practically. But budget carefully for risks involved. Be realistic when evaluating returns on these investments. Encourage employees to take calculated risks. (3) Be Passionate: It takes courage and passion to introduce new idea. Ask employees to bring ideas they are passionate about. Asking people to be a bit vulnerable encourages risk-taking and can be tremendously rewarding, as well as provide an element of team bonding. Accepting failures of the past and learning from them minimizes the risk of repeating them in future. A smart risk is well thought out and demonstrates that employees have looked at other options and genuinely believe that the risk is worth the gain. Read on...

Fortune: The One Thing Every Company Gets Wrong About Innovation
Author: Val DiFebo

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