Vol. 8 No. 44; Dec. 6, 2020
Innovation, Startup Success And Former Nintendo COO Speaks
Future Of American Innovation
Andrei Iancu spoke to a Rutgers virtual meeting. | Screenshot by Esther Surden
- On Tuesday, Rutgers University hosted a program on "The Future of American Innovation and The Role of the University."
- The keynote speaker was Andrei Iancu, undersecretary of commerce for intellectual property and director of the United States Patent and Trademark Office.
- A problem, Iancu said, is that innovation in the United States is highly concentrated: geographically, demographically and economically.
- "We have found that in 2019 of all the inventors named on U.S. Patent Office published patent applications, women made up only 13 percent of those inventors."
- There are vast swaths of the United States that do not contribute to innovation.
- Also, "folks from economically disadvantaged communities do not participate" in patenting innovation "to the same levels [as others], irrespective of their demographics" and geographical location.
Startup Success
Panel on "Navigating the Path to Startup Success" | Screenshot by Esther Surden
- The Foundation for Health Advancement discussed "Navigating the Path To Startup Success" at a meeting Wednesday.
- Several investors and startup companies discussed the ins and outs of getting investment and finding the right investors.
- Jim Golubieski, president of Foundation for Health Advancement. said that Foundation Venture Capital Group looks at character and commitment as the two most important factors founders must have to gain investment.
- "If we don't have someone committed to the project, and of the right character, we're not going to invest with you, even if it's a great idea."
- Brian Mulhall, an entrepreneur and investor, noted that founders are often focused right out of the gate on an exit strategy.
- "I try to move people off of that sort of paradigm."
- As former CEO of Whitehouse Analytical Laboratories, "our exit strategy was really based upon us building a solid stable company," Mulhall said.
Breaking The Rules – Innovation In Action
Reggie Fils-Aime | Courtesy Eisner-Amper
- At Eisner-Amper's Virtual Business Summit on Wednesday, Reggie Fils-Aime, former president and COO of Nintendo of America, shared principals and advice.
- Fils-Aime helped bring the Nintendo DS, Wii, and other leading video game products to the global marketplace.
- He said:
- Innovation is a culture, a mindset and consistent work.
- Innovate from your core strengths.
- Innovate with unexpected relevance.
- Innovators must over-communicate.
- Innovators truly understand their markets.
- Innovators fail. Learn to fail forward.
- Innovation is a leadership function.
Deadlines:
- The first ever #CrossRiverStartMeUp contest is open to N.J. entrepreneurs. One winner will be chosen on Dec. 18 and will be awarded $5,000 in funding and the opportunity to speak with CEO, Gilles Gade on taking their business to the next level. Apply by Dec. 14.
- Apply for an innovation economy grant by Jan. 8. See our story here.
Events:
By Esther Surden
Rachel Lyubovitzky, CEO of EverythingBenefits | Courtesy EverythingBenefits
This female-led startup is growing even during the pandemic, as it designs ways to help employers offer benefits to laid-off or furloughed employees. More.
By Rob Rinderman
Makers at the Jersey City Tech Meetup | Screenshot by Esther Surden
At the November Jersey City Tech Meetup event, the panelists contemplated how the city’s makers could help Jersey City continue to be an inclusive, cutting-edge, smart city that incorporates STEAM into its fiber. More.
By Esther Surden
Propelify Startup Showdown | Courtesy Propelify
Moderated by Jasmine Hoffman, head of experience at TechUnited:NJ, this event featured three startups with New Jersey connections: CatapultX (Montclair), Beyond Main (Summit) and Hudson Space Systems (Hoboken). More.
By Mark McCreary / Fox Rothschild
Marc McCreary of Fox Rothschild | Courtesy Fox Rothschild
With over eight months of businesses and employees struggling with the challenges of working remotely, and us all coming to the reality that remote working is here to stay on some level, it is a good time to assess what we have learned. More.
Additional Story:
More Opportunities To Apply For Innovation Economy Grants, CSIT Says By Esther Surden
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