Entrepreneurship & Innovation

Mohammad Anas Wahaj | 23 aug 2017

Rapid pace of innovation is the defining feature of the current era. According to the World Economic Forum, 'The speed of current breakthroughs has no historical precedent.' Financing industry now have innovative lending platforms, both for-profit and nonprofit, for small businesses. But there are concerns regarding many products as they may trap small businesses in a cycle of debt. Gina Harman, CEO (U.S. Network, Accion), explains the challenges that nonprofit lenders face due to rapid innovation happening in the industry and shares insights from the conversation between industry experts - Kate Mirkin (Salesforce.org, Salesforce's nonprofit social enterprise); Prashant Reddy (DemystData); Patrick Davis (CRF, Community Reinvestment Fund); Shaolee Sen (Accion). Myth 1 - The only barrier to scale is the absence of technology: Technology investments get wasted if there are no capable people to deploy it internally and manage the necessary changes in business processes. Challenges are even more when multiple organizations are involved in the project. Establishing and maintaining discipline is essential. Right technology with right data is required to maximize its utility. Myth 2 - For nonprofit organizations, passion to serve more people outweighs fear of change: Nonprofits must overcome lack of investment in talent, knowledge and resources required to drive technological innovation. Nonprofit organizations in business lending industry must consider change necessary to better serve their stakeholders. Collaborative approach to manage technological change must be adopted between the organization and the key stakeholders. Myth 3 - Only organizations with large technology budgets can innovate: Small investments in incremental improvements can add real value to organizations. Even effective data utilization can bring transformative changes at low cost. Within the social impact and mission-driven space, an approach with shared purpose and collective interests can help organizations collaborate and pool resources to implement and utilize costly technological innovations to provide value to the group. Read on...

Huffington Post: 3 Innovation Myths that Nonprofit Lenders Should Abandon
Author: Gina Harman

Mohammad Anas Wahaj | 25 jul 2017

Technology is taking away traditional jobs from many industries. Even the workers in technology intensive graphic design sector face challenges from online artifical intelligence (AI) platforms that provide graphic design services. Canada-based Logojoy is one such platform providing personalized graphic services for small businesses, startups and entrepreneurs. It's AI platform is intuitive and mimics the process of working with human graphic designer. Dawson Whitfield, founder of Logojoy, says, 'The magic of Logojoy is the groundbreaking algorithm, user-friendly interface, and premium design ingredients. Logojoy has close to 1000 design rules built into its algorithm.' According to EY's recent 'Millennial Economy Report', 72% of new businesses do not have the funding for graphic design services. Mr. Whitfield adds, 'As a graphic designer, many of my clients were looking for budget solutions for their businesses, so this is when I realized I could help a lot of people in the start-up and SMB spaces with this software.' Read on...

ITBusiness.ca: The next job being eaten by AI: Graphic Design
Author: Mandy Kovacs

Mohammad Anas Wahaj | 17 jun 2017

Innovation Showcase (ISHOW) by American Society of Mechanical Engineers (ASME) is a hardware competition for socially minded projects. The purpose is to create awareness that hardware engineers too play a role in social innovation. K. Keith Roe, President of ASME, says, 'Our research showed a tremendous lack of support for hardware innovators seeking to enter global markets and make a societal impact.' Paul Scott, ASME ISHOW Director, says, 'From South America to West Africa to Southeast Asia, there are many talented folks that are changing paradigms with their work.' Currently, ASME ISHOW is held in US, Kenya and India. This year's American competition will be held on 22 June 2017. According to ISHOW website (thisishardware.org), 10 American finalists alongwith their projects are - (1) Hahna Alexander (SmartBoots: Self-charging work boots that collect status and location data and provide workforces in hazardous environments with actionable insights); (2) Jonathan Cedar (BioLite HomeStove: An ultra-clean cookstove that reduces smoke emissions by 90% and biomass fuel consumption by 50% compared to traditional open fire cooking, while also co-generating electricity from the flame to charge mobile phones and lights); (3) Matthew Chun (RevX: A transfemoral rotator that restores dignity to low-income amputees by enabling them to sit cross legged, dress themselves, get back to work, and more); (4) Shivang Dave (QuickSee: PlenOptika developed the QuickSee to disrupt the barriers to eyeglass prescriptions for billions of people worldwide so that they can get the eyeglasses they need); (5) Alexandra Grigore (Simprints: With a novel fingerprinting system, Simprints aims to create a world where lack of identity is never the reason why anyone is denied basic services in healthcare, education and finance); (6) Mary McCulloch (Voz Box: Millions of people, right now, are nonverbal. Current devices are too expensive and uncustomizable. The Voz Box is an innovative speech generation device that has customizable sensors and is affordable); (7) Erica Schwarz (Kaleyedos Imaging Device (KID): A revolutionary infant retinal imager that will empower neonatal intensive care units (NICUs) worldwide to decrease the incidence of visual impairment and blindness due to infant retinal disease); (8) Kenji Tabery (VeggieNest: Smart home gardening systems, and aims to address the growing market need for access to organic, affordable, and nutritious produce that enable global consumers to be food secure); (9) Team Sixth Sense (Team Sixth Sense: We have designed a system of sensor to attach to lower-limb prosthetics that works with NeoSensory's current technology to provide realtime vibrotactile feedback); (10) Quang Truong (EV 8 Cooler: Evaptainers creates low-cost mobile refrigerators that run on water. These are perfect for low income families who live off grid or cannot afford a conventional refrigerator). Read on...

Technical.ly DC: 10 engineers will showcase hardware's role in social innovation
Author: Nia Dickens

Mohammad Anas Wahaj | 19 may 2017

According to design experts at 'ASEAN Creative Cities Forum and Exhibition' (Philippines), creative industry plays an important role in a country's economic growth. Some of the experts that participated include Prof. John Howkins (Author of the book 'The Creative Economy'), Nora K. Terrado (Chairperson, ASEAN 2017 Committee on Business and Investment Promotion-CBIP), Paolo Mercado (Nestle Philippines), Andrew Erskine (Tom Fleming Creative Consultancy), Katelijn Verstraete (British Council East Asia), Kenneth Cobonpue (Philippines), Anon Pairot (Thailand) and Colin Seah (Singapore). Ramon Lopez, Secretary of Department of Trade and Industry (DTI), says, 'The goal of the event is to channel these (creative) assets into innovation , employment, trade opportunities, and mobilizing it to drive each of the economies in the whole Southeast Asian region.' Rhea Matute, executive director of Design Center of the Philippines, says, 'We really are committed to develop the creative quotient of the Philippines...This is really an important opportunity by which our designers, our creatives, can branch out beyond our borders to have a more open system of having dialogue with our ASEAN partners in view also of the ASEAN integration.' Moreover, the event was also intended to initiate a movement to have at least one Philippine city to be a member of the UNESCO Creative Cities Network (UCCN). UCCN currently have 116 cities from 54 countries covering seven creative fields: Crafts and Folk Art, Design, Film, Gastronomy, Literature, Music and Media Arts. It's goal is 'to promote cooperation with and among cities that have identified creativity as a strategic factor for sustainable urban development.' Following are some takeaways from the forum: (1) Working in the creative industry is a lucrative career. (2) The road to success is challenging yet fulfilling. (3) Always look around you, and be original. (4) Standing up with your decisions. (5) Government plays a big role in developing the creative industry. (6) School plays an important role, too. According to Colin Seah, Singapore-based architect and Ministry of Design's Founder and Director, 'At the school level, I'm not saying you need to train everyone to be a creative but if you introduce design education at an early stage, then what you do is two fold - you unlock any potential for people who may be seeking these professions. Secondly, you train and educate people who will eventually become patrons and consumers...then it becomes a cycle. You have good creatives, and you get people who can pay for creatives.' Read on...

InterAksyon: ASEAN Forum - Creativity is the driving force in economic growth
Author: Romsanne Ortiguero

Mohammad Anas Wahaj | 24 apr 2017

Among the many challenges that startups face during their early stage is that of hiring a first employee. With unspecific and variable requirements, and limited financial resouces, hiring a full-time employee could be a costly option. Autumn Adeigbo, ethical fashion advocate and founder of a fashion label, explains how first hiring or working with freelancers can be an optimum alternative for startups. It not only saves on costs associated with full-time employee, but also prepares the entrepreneur to select the best candidate in future based on specific needs. She shares 7 steps to successfully hire a freelancer - (1) Create A Job Description, Experience & Education Requirement: Be specific in creating a human resource document for every freelancer, advisor and intern needed during the first year of company's operation. (2) Work with an HR Mentor/Advisor: To obtain right guidance, get a mentor. Moreover, obtain information through articles and high quality content. (3) Source Your Talent: Use a combination of offline and online processes to reach out for the talent. Post requirements on focused websites and job boards, in addition to approaching your own network. (4) Interview The Candidates: Take time to prepare the questions to be asked. Browse their profiles diligently. Discuss specific requirements with the candidate. Seek for the right fit with balanced expectations. (5) Alert The Chosen Candidate & Sign Paperwork: Communicate to the selected candidate the period for which they would be needed initially and do the necessary paperwork. (6) Train The Candidate With Company Culture, Background, Rules & Expectations: Create a brand/company culture document to avoid ambiguity. Share brand's evolution. (7) Start Work & Review Their Early Performance: Observe and review the work and communication style for better understanding and working partnership. Read on...

Forbes: 7 Steps To Successfully Hiring Your First Freelancer
Author: Autumn Adeigbo

Mohammad Anas Wahaj | 08 apr 2017

According to the findings of KPMG 2017 Global Technology Innovation report, US and China continue to be the most promising markets for technology breakthroughs that have global impact, with India and the UK progressing in third and fourth place with innovative tech hubs of their own. The report is based on survey of 841 business executives globally that focus on technology, and highlights the changing landscape of disruptive technologies, with perspectives on technology innovation trends, barriers to commercialize innovation, and insights into technology innovation leading practices. Although various countries are trying to emulate Silicon Valley to develop their own technology hubs, some are finding success in their efforts while others are facing macroeconomic and infrastructure challenges. Tim Zanni, Global and US chair of KPMG Technology, Media and Technology practice, says, 'What we have seen emerge over time is the result of countries and cities striving to replicate and build on the Silicon Valley tech innovation blueprint, and their increasing degree of success. One can debate whether or not replicating Silicon Valley is possible, but the benefits of the effort are undeniable.' Mr. Zanni states in the report that growing ecosystems as tech innovation has spread across all industries, is fueling the expansion of technology innovation development. Respondents of the survey consider the following as the top global technology innovation visionaries - Elon Musk, CEO of Tesla and SpaceX; Tim Cook, CEO of Apple; Jack Ma, Chairman of Alibaba; Larry Page, CEO of Alphabet; Sundar Pichai, CEO of Google; Satya Nadella, CEO of Microsoft; Bill Gates of Microsoft; Mark Zuckerberg, CEO of Facebook; Jeff Bezos, CEO of Amazon. Read on...

The Next Silicon Valley: US and China are top innovation hubs, followed by India and UK
Author: Nitin Dahad

Mohammad Anas Wahaj | 19 mar 2017

Tony Bacigalupo, founder of New Work Cities, on his website (Whatiscoworking.com) explains 'Coworking' as - 'The word "coworking" as it is known today originates with a concept put forth by Brad Neuberg in 2005...It is directly related to Neuberg's original concept and had since evolved into a decentralized movement centered around a core set of shared values: Community, Openness, Collaboration, Accessibility, and Sustainability...A Coworking Space is generally a phrase used to describe a business or organization that is dedicated to the full Coworking concept. These spaces represent a critical foundation of infrastructure for a new and growing workforce of people who work where, when, how, and why they want. A coworking space's relationship with its members is one that is primarily predicated on the values that drive the Coworking Movement, in direct and deliberate contrast to a more traditional relationship predicated on renting space from a landlord.' Kara Kavensky, President of Absolutely Consulting, shares how the coworking space 'The Refinery Center' in Marion (Indiana, US), created by Shelby Bowen (VP of Development at Envoy Inc.), is helping economic development of the city along with establishing a sense of community in local population. The space was developed with financial support from the Community Foundation and Indiana Wesleyan University. Jim Swan, owner of the building that was transformed, understood the concept and worked with The Refinery on their financial constraints of starting a coworking space. The Refinery offers low-cost monthly access without long-term leases. The amenities include Wi-Fi, a professional environment with other like-minded people, conference rooms, dedicated workspace, and an on-site cafe. According to Mr. Bowen, 'We listened to the needs of the community. We have not taken a cookie cutter approach to the coworking space. We offer very affordable monthly memberships starting at US$ 30/month and host a lot of meetings here at no charge. We are also a community center in addition to a work space.' Entrepreneurial events at The Refinery are facilitated by Indiana Wesleyan University with the help of the grant from Lilly Endowment. Carol Brown, Associate Dean of Life Calling & Career at Indiana Wesleyan University, says, 'This program is funded through the Lilly Endowment's "Accelerate Indiana" grant, which seeks to encourage entrepreneurial activity among students and local entrepreneurs. We fund internships, even if the company is a student-run business with the goal of creating jobs in Indiana.' Read on...

Inside Indiana Business: How Coworking is Impacting Economic Development
Author: Kara Kavensky

Mohammad Anas Wahaj | 27 feb 2017

'healthymagination Mother and Child Program', a collaborative effort of GE and Santa Clara University's Miller Center for Social Entrepreneurship, provides mentorship and training aimed at improving and accelerating maternal and/or child health outcomes in Africa. The program was designed to help the social entrepreneurs acquire business fundamentals, improve their strategic thought processes and articulate a business plan that demonstrates impact, growth and long-term financial sustainability. According to Robert Wells, Executive Director of healthymagination, 'GE believes there is much for social enterprises and large businesses to learn from each other. As the center of the ecosystem, social entrepreneurs are key to building Africa's sustainable future.' First cohort of 14 social entrepreneurs that have completed the program are ready to present their social enterprises to a group of potential investors and supporters. Jay Ireland, President & CEO of GE Africa, says, 'This group of people are helping solve some of Africa's biggest health challenges through their initiatives aimed at improving mother and child care. This is another great example of the strong entrepreneurial spirit in Africa.' According to Thane Kreiner, ED of Miller Center for Social Entrepreneurship, 'Addressing the global health challenges of women and children living in sub-standard conditions or facing high-risk pregnancies demands all the determination, diligence and creative solutions we can muster.' Following are the social entrepreneurs and their respective social enterprises - Daphne Ngunjiri, Kenya (AccessAfya.com); Habib Anwar and Zubaida Bai, Kenya (ayzh.com); Tyler Nelson, Rwanda (HealthBuilders.org); Pratap Kumar, Kenya (Health-E-Net.org); Steve Alred Adudans, Kenya (HewaTele.org); Stefanie Weiland, Uganda, Burundi and DRC (LNInternational.org); Julius Mbeya and Ash Lauren Rogers, Kenya (LwalaCommunityAlliance.org); Brian Iredale, Uganda (NurtureAfrica.ie); Segun Ebitanmi, Nigeria (Outreach Medical Services); Cobby Amoah, Ghana (Peach Health); Olufemi Sunmonu, Nigeria (ThePurpleSource.com); Yohans Emiru, Ethiopia (HelloDoctorEthiopia.com); Natalie Angell-Besseling, Uganda (ShantiUganda.org); Anne Gildea, Kenya (VillageHopeCore.org). Read on...

CNBC: 14 social entrepreneurs to improve maternal & child health in Africa
Author: NA

Mohammad Anas Wahaj | 21 dec 2016

To identify common traits of entrepreneurs, Harvard Business Review (HBR) and Ernst & Young (EY) recently collaborated on a study to review three decades of entrepreneurship and 9200 winners of EY's Entrepreneur of the Year program. According to the report, winners over the past 30 years created more than 14 million jobs and contributed roughly US$ 1 trillion of revenue to the U.S. economy. Moreover, 46% percent of the winners were the founders of more than one business. The report found the following charachteristics that entrepreneurs share - (1) They recognize talent. (2) They are focused on growth. (3) They do their research. (4) They're purpose driven. Read on...

Entrepreneur: All Successful Entrepreneurs Share These 4 Qualities
Author: Nina Zipkin

Mohammad Anas Wahaj | 02 dec 2016

The rising tide of mobile devices brought with it the deluge of apps. As of June 2016, there were an overwhelming 4.2 million apps available on both the Google Play Store and Apple App Store. For an app to stand out among such a crowded app-place is not an easy task. Dima Rakovitsky, Founder and CEO of ROKO Labs, shares the following best practices for an aspiring app inventor - (1) Know Your Audience: Diligently figure out who will use the app and what problem will it solve; Focus on customer aesthetics based on the platform (iOS or Android) they use and design accordingly. (2) Validate Before You Build: Research the competitive market; Do customer surveys; Draw user flows; Professionally design the app and make a clickable prototype; Share it with potential users and seek suggestions and feedback. (3) Marketing And User Acquisition Plans: Make sure app has viral components; Create a marketing strategy supported with strong tactics; Have a marketing and advertising budget. (4) Make a Positive First Impression: It is key to acquiring and retaining users; Have a well-designed and memobrable app icon with short engaging description; To reduce churn rates, make sure your app is fast, intuitive and allows anonymous usage. (5) Easier is Always Better: Keep your app simple and accessible to everyone; Have understanding of UI (User Interface) and UX (User Experience). (6) Consistency Is Key: The app should look and feel cohesive; Have unified color scheme and consistent typography; Make sure your app takes advantage of the unique features and norms of each mobile platform, but still coordinates with your website. Read on...

Alley Watch: 6 Tips for Aspiring App Inventors
Author: Dima Rakovitsky

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