Entrepreneurship & Innovation

Mohammad Anas Wahaj | 20 jun 2015

Marketing strategies for startups are different from established companies as they have limited budget and resources. Over the years SEO (Search Engine Optimization) has evolved due to changes and improvements in search engine technologies. SEO strategies for today require a fresh look to keep business relevant in search engine results. John Rampton, entrepreneur and president of Adogy, provides 10 suggestions for startups to develop effective SEO to market their business - (1) Figure Out Your Target Keywords (2) Mobile Friendly is a Necessity (3) Simple is Usually Better (4) Develop and Follow a Marketing Strategy (5) Leverage the Power of Infographics (6) Prioritize (7) Figure Out Your Social Networking Channels (8) Link Building (9) Keep Your Content Relevant (10) Analytics are your Friend. Read on...

Forbes: 10 SEO Tips For Marketing Your Startup in 2015
Author: John Rampton

Mohammad Anas Wahaj | 27 may 2015

According to United Nations Development Programme (UNDP) website, 'UNDP assists partners to achieve sustainable, people-centered development through an integrated approach that links policy with planning and programming, for promoting results based management, instating quality safeguards, monitoring and evaluating impact and equally learning from failures and successes.' Innovation is an integral part of the development program and requires investments to fulfil the goals. UNDP has defined nine innovation principles - (1) Design with the User (2) Understand the Existing Ecosystem (3) Design for Scale (4) Build for Sustainability (5) Be Data Driven (6) Use Open Standards, Open Data, Open Source, and Open Innovation (7) Reuse and Improve (8) Do no harm (9) Be Collaborative. In the context of development, innovation means to embrace complexity and accept diversity of solutions, and it implies that breakthroughs can only be created in partnership. As Millennium Development Goals are set to run their course, the agreement is now being sought on new development priorities. The Innovation Facility's 'Year in Review' report identifies six areas where UNDP will seek to innovate in 2015 and beyond - (1) What exactly, is the problem?: Social challenges are becoming increasingly complex. Focus is on understanding the problem based on available data. Big data analysis and embracing ethnographic methods to better understand diverse perspectives of the people affected by development challenges. (2) The best ideas come from surprising people and places: Looking for models and ideas beyond UNDP. Community solutions and open innovation challenges can encourage startups, NGOs and other partners to propose concrete solutions to problems or an opportunity. (3) Test, measure, improve: Test multiple ideas and approaches and select the one that gives better results. (4) Who wants your idea?: Before making investment, seek a clear business plan to identify probable partners (government, private sector or NGO) to bring the idea to scale. (5) Can we create shared value?: For post-2015 agenda large investment by governments alongwith substantial support from private sector are required. Through building local partnerships, opportunities for shared value to be explored. (6) Forget failure - learn!: Learn by testing ideas and failures to improve performance. Innovation involves calculated risks. To get success learn and improve. Read on...

Devex Impact: 6 ways to innovate for development in 2015 and beyond
Author: Benjamin Kumpf

Mohammad Anas Wahaj | 27 may 2015

Staying close to the customer and fulfil his needs and wants has been the mantra of successful brands and businesses. Technology has brought the customer even closer and given brands the opportunity to better understand and analyze the customer behavior and focus strategies to satisfy him/her. Considering the highly competitive and fast paced world of fashion and luxury, established luxury brands need to think like disrupters by putting customers at the center of their strategies. Disrupters focus on 'jobs to be done' in the present. Clayton Christensen's disrupter framework focuses on consumers' social, emotional or functional problem, and turns business into its solution. This framework makes innovation independent of the latest technology or the hottest new gadget and firmly relies on human behavior. Thinking about customers and their behavior patterns provide brands insights into the future. Understanding the next generation of customers and removing friction from their brand experience with a well thought out solution will hold the key for the brand's survival. Following are four ways established luxury brands can succeed by staying close to the customer - (1) Create a seamless path from inspiration to purchase. (2) Make your brand narrative attainable, intuitive and immersive. (3) Evoke in your customers the feeling of belonging and being special. (4) Serve and reward. Read on...

AdAge: Luxury Brands Must Innovate or Die in the Digital Age
Author: Ana Andjelic

Mohammad Anas Wahaj | 26 may 2015

As businesses continue to pile-up huge amount of data there are opportunities for data scientists to provide meaningful insights to help them grow and succeed. Even startups at their early stages have substantial data that can be utilized for business value. Tianhui Michael Li, Data Scientist and Executive Director of The Data Incubator, gives his view on how a skilled data scientist (DS) can be a catalyst of growth for entrepreneurial ventures - (1) Growth Hacking: DS can utilize social data and web analytics to implement low-cost, high impact marketing campaigns. (2) Customer Retention: Bain & Co. found that 5% increase in customer retention increases profits by 125%. DS can analyze customer behavior and target communication for customer engagement, retention and even identify brand advocates to bring new customers. (3) Personalizing Products and Services: DS can utilize sales, marketing and web data to identify customer needs and wants. This will assist in customizing offerings. (4) Marketing Optimization: DS can optimize every aspect of marketing and advertising from ad budget to ad clicks to actual conversions and purchases, and much more. Read on...

Entrepreneur: 4 Things a Data Scientist Can Do for Entrepreneurs
Author: Tianhui Michael Li

Mohammad Anas Wahaj | 25 may 2015

Maintaining healthier and longer lives of human beings require efforts at global scale. There is need for cooperation and collaboration among young scientists from around the world. Basic scientific research is one of the critical component that leads to advances and innovations in healthcare. According to Dr. Francis S. Collins, Director of National Institutes of Health (NIH), 'Rigorous, well-designed research is essential not only for the discovery of new ways to detect, treat, and prevent disease, but also for the most efficient development and cost-effective dissemination of such advances to the world's poorest peoples.' He cites examples of research-based technologies that are transforming the healthcare landscape - Point-of-Care diagnostics that include a DNA-amplification test which makes it possible to diagnose tuberculosis and detect drug resistance within 90 minutes; Mobile health technologies are already influencing healthcare in remote and poor regions. For example a quarter-sized, lensless microscope that, when connected to a mobile phone, can beam high-quality images of cells and microbes halfway around the globe to computers that can automatically interpret the images; Bioengineers has designed a 'paper microscope', a low cost use-and-throw device that doesn't need a power supply, to quickly and accurately diagnose malaria and other parasitic diseases in low-resource settings; Disease prevention through next generation of vaccines will only be possible through science-based technology and research; Non-communicable diseases (NCDs) are fastest growing cause of deaths and would require creative scientific research to identify and implement the right tools to overcome them in resource poor regions. He further explains, 'Indeed, scientific knowledge does not travel only from developed countries to low-income countries - it is a two-way street from which the entire world stands to benefit. Recently, some of the most innovative and cost-effective advances have arisen from research reflecting the needs and ideas of people in poorer countries.' Read on...

Vox: Why the world needs more scientists
Author: Francis S. Collins

Mohammad Anas Wahaj | 18 may 2015

In the Wikipedia article on 'Mentorship', Prof. Barry Bozeman and Prof. Mary K. Feeney, who are currently at Arizona State University, in their paper 'Toward a useful theory of mentoring: A conceptual analysis and critique' define 'Mentoring' as 'A process for the informal transmission of knowledge, social capital, and the psychosocial support perceived by the recipient as relevant to work, career, or professional development; mentoring entails informal communication, usually face-to-face and during a sustained period of time, between a person who is perceived to have greater relevant knowledge, wisdom, or experience (the mentor) and a person who is perceived to have less (the protégé).' Entrepreneurs often need mentors at various stages of their venture's development. Sramana Mitra, Founder of One Million by One Million, suggests the following points regarding a good mentor - (1) Has superior knowledge and network in the industry that entrepreneur is venturing. (2) Is willing to tell what the entrepreneur 'need' to hear and not what he/she 'want' to hear. (3) Looks out for entrepreneur's best interest (4) Connects dots whenever possible to get entrepreneur further and grow. (5) Gives knowledge, advice, introductions without wasting anybody's time. (6) Pushes entrepreneur to do more, do better. (7) Will not sit next to entrepreneur and hold hand. (8) Is busy, active, in-demand. (9) Helps entrepreneur learn, become self-sufficient. Read on...

Huffington Post: An Entrepreneurs' Guide to Good Mentoring
Author: Sramana Mitra

Mohammad Anas Wahaj | 02 may 2015

Seven design experts and judges of the 2015 Innovation by Design Awards define what an innovative design means to them - (1) Richard Florida, founder of the Creative Class Group: Innovative design is strikingly elegant but simple and intuitive to use. (2) Mark Rolston, founder of argodesign: By its very nature it should surprise us. It exposes the intrinsic power of technology. It reminds us of the profound nature of invention...should make life more beautiful. (3) Bradford Shellhammer, founder of Bezar: Did this design change the world and change it for the better...I am much more interested in the problem design solves. (4) Andrew Dent, vice president of library and materials research at Material ConneXion: How is it solving the problem it was designed for? What new approaches have been taken in this solution? Is it really offering an improvement over other designs or is it just 'new'?...I always initially zone in on the materials choices. I feel that there needs to be at minimum an 'appropriateness' when selecting them. (5) Bobby Martin Jr., co-founder of Original Champions of Design: Innovation comes from pushing beyond the expected... Innovative design is thoughtful, appropriate and ambitious. Innovative design is risky, so not everyone can be an innovator. (6) Dan Gardner, co-founder and executive creative director at Code and Theory: Is the design timeless? Does the design demonstrate new thinking and/or solve a problem in a new way? Does it have broader impact and application beyond the specific instance of the design? Does the design affect behavior in a meaningful way? (7) Stuart Karten, founder of Karten Design: Innovative design is new and different. It introduces aesthetics that haven't been seen before...the product must be meaningful. It must respond creatively to a real market need...when 'inventive' tech-driven products have functionality that is driven by people and connects to human needs that innovation occurs. Read on...

Fast Company: What Is Innovative Design? 7 Designers And Thinkers Weigh In
Author: Suzanne LaBarre

Mohammad Anas Wahaj | 27 apr 2015

To get a for-profit social enterprise started and make it self-sustaining requires different types of fundraising at different stages of the venture's growth. Lisa Curtis, founder of Kuli Kuli Foods, suggests the following stepwise process to effectively finance the enterprise - (1) Put the idea for an enterprise on paper and participate in business plan competitions to win prizes and also to learn, connect and promote it to increase the chances of future funding. (2) Join an accelerator program as it helps to build the necessary funding network or sometimes it provides funds directly. (3) After business plan competition and refining the idea through an accelerator program, get on with crowdfunding campaign. But before the launch of crowdfunding it is important to know exactly how much money is required and what the final product will look like. (4) Once the product is ready for the market, it becomes important to sustain the business without running out of money. At this stage acquiring a loan will be an important financial strategy. (5) Once the business starts to grow and idea has got 'proof-of-concept' from the market, the next step is to seek angel investors. One way is to do an accredited-only crowdfunding campaign. Moreover join an investor network, prepare a solid executive summary and keep on pitching to prospective investors. (6) Keep the focus on the main purpose of the social enterprise i.e. to make a positive impact on the world. This will provide the strength to carry on during the challenging times. Read on...

Triple Pundit: 6 Steps to Finance Your New Social Enterprise
Author: Lisa Curtis

Mohammad Anas Wahaj | 26 apr 2015

According to CDC estimates, about 30 million of US population had diabetes in 2014, and more than 1/4th of them were undiagnosed. Moreover another 80 million were classified as 'pre-diabetic', meaning they have greater chance of getting diabetic in the next decade if they don't change their lifestyle. Diabetes costed US$ 176 billion in direct medical bills and US$ 69 billion in indirect costs, including disability, work loss and premature death, in 2012. Considering data-intensive nature of diabetes, patients have to continuously monitor, calculate and control their blood sugar levels within a healthy range. As there are numerous and complex factors that affect blood sugar - including food, physical activity, and sleep patterns - it's not always clear what exactly occurs between a good blood sugar reading and a bad one. According to Jeff Dachis, co-founder of digital marketing firm Razorfish and now founder of diabetes managing app called One Drop, 'It's math all day long...if I stay in range, I can stay considerably healthy and unimpacted by diabetes.' Adoption of wearable health devices is somewhat trying to solve the mathematical aspects of diabetes. Moreover the coming wave of wearable technology and social media and mobile apps show prospects to transform how people live with and manage diabetes. Companies are also developing innovative devices like continuous glucose monitors, which constantly measure blood sugar levels through a small sensor that is inserted under the skin, providing a lot more insight into how a good reading turns into a bad one. Another technological advancement is an 'artificial pancreas', an implantable device which would monitor blood sugar as well as automatically deliver insulin. Researchers are developing small implants that can do both, eliminating the need for daily finger pricks and injections. Google and Novartis AG are partnering to develop less invasive way to measure blood sugar, a contact lens that monitors glucose contained in tears and transmits the data through a tiny antenna. These technology devices although hold a considerable promise to overcome challenges regarding the management of diabetes but they will be expensive and will take time to be commercially available. Read on...

The Washington Post: How the data revolution could transform the way people live with diabetes
Author: Ana Swanson

Mohammad Anas Wahaj | 13 apr 2015

Entrepreneurs are always seeking new ways to leverage their position in the market to stay competitive and successful. Competitive advantage is not an easy thing to achieve for entrepreneurs. Here are few ways that entrepreneurs can gain competitive edge - (1) Positioning is better than prospecting. (2) Plans fail, movements don't. (3) Stand on the shoulder of giants. (4) Become a people developer. (5) Create raving fans and advocates. Read on...

Entrepreneur: 5 Ways Entrepreneurs Can Gain a Competitive Advantage
Author: Peter Voogd

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