innovation

Joe Angeles/WUSTL PhotoThere are companies that, like people, are smarter than others. Literally. A business professor at Washington University in St. Louis has developed a way to measure a company’s IQ based on how effective it is at innovating. Using data from SEC filings, a professor at the Olin School of Business, computed the IQs of all the publicly traded US firms that engaged in R&D. More…

Successful strategies are innovative. They combine resources or businesses in unique or complex ways that other firms may fail to recognize. Yet research from the Olin School of Business at Washington University finds that the market tends to undervalue companies with complex or unique strategies. The reason: they receive less analyst coverage. More…

Finalists for the inaugural Social Entrepreneurship & Innovation Competition have been selected after a half-year of preparation. The eight finalists include entirely new business proposals and existing non-profit organizations. The winners will be announced at a special presentation May 11.

Thursday, March 30 at 5 p.m., the finalists will be announced for the Social Entrepreneurship and Innovation Competition, co-sponsored by Washington University and the YouthBridge Association. The event features Theresa Wilson, founder of The Blessing Basket, as a keynote speaker. Currently there are 14 semi-finalists. The finalists will be selected based on their two-minute presenations about their projects. The event takes place in May Auditorium in Simon Hall on the Washington University Hilltop Campus.

Two teams of entrepreneurs have won Washington University’s 2005 Olin Cup. Somark Innovations, Inc. and iMobile Access Technologies, or iMAT, will receive a total of $70,000 in seed funding for their enterprises. An additional $5,000 grant for student projects will be split between two winners: HomeWUrk and Suzanne Shenkman Designs. The awards were announced Dec. 1 at a ceremony featuring Robert J. Skandalaris, founder and chairman of Noble International.

The winners of the 2005 Olin Cup Competition will be announced Thursday, December 1. Six finalists are in the running to receive a total of $70,000 in seed investments. Additionally, a $5,000 grant will be awarded to the best student-owned venture. The Olin Cup Competition is an annual business formation contest organized by The Skandalaris Center for Entrepreneurial Studies at Washington University in St. Louis.

Six entrepreneurial projects have made it to the final round of the Olin Cup Competition. The finalists were selected from a group of 11 semi-finalists Thursday evening at a networking event at Washington University. Teams are competing for a total of $70,000 in seed investments — awarded to those who create viable business ventures with a high probability of success. In addition to the $70k, a $5k grant will be awarded to the best student-owned venture — bringing the total prize money to $75,000.

In the 21st century, the key to remaining competitive with China, India, and the rest of the world will be innovation, a national core competency that will play a critical role in the battle to preserve the American Dream. This view is the subject of a forthcoming book, written by Kenneth Harrington, managing director of the Skandalaris Center for Entrepreneurial Studies at Washington University in St. Louis, and Robert Skandalaris, founder and chairman of Noble International Ltd. While America was built by entrepreneurs, and continues its stronghold on innovation, the co-authors contend that it is no longer a forgone conclusion that America will lead the world in innovation.

Carl Schramm, President and CEO of the Kauffman Foundation, will deliver an address entitled: “Innovation: How it will impact the United States in a Global Economy” on Friday, Feb. 18, 2005.

William PeckThe economic future of St. Louis as well as the nation hinges on successful innovation and entrepreneurship. That’s part of the message Dr. Bill Peck, former director of Washington University School of Medicine and new chair of Technology Gateway, a regional economic development organization, will deliver Thursday, February 10. In his talk Peck will explore our definition of “entrepreneur” and examine the importance of innovation and entrepreneurship to education, medical and social progress. Peck will also challenge economic development policies and the current focus on corporate America.