Category Archives: Economy and Society

THE BEST AND WORST STATES FOR ENTREPRENEURS IN 2020

78 percent of small businesses are reporting profits, with both confidence and happiness indices ranking among the highest in recent years.  The overall small business climate looks favorable for an enterprising entrepreneur. However, one fundamental factor that can change business climate is geography. Depending on the state and city where you want to start a business, these overall conducive conditions can change dramatically.  Seek Capital conducted a study of all 50 U.S. states to determine which ones were the best and which ones were the worst for entrepreneurs wanting to start and maintain a successful business. There are definitely some geographic patterns that emerged from the results of the study. Each of the top-rated states saw sizable injections of venture capital into new companies in 2018.   Read More >>

 

HOW A CASH CRUNCH IN INDIA LED TO THE WIDESPREAD ADOPTION OF E-PAY TECHNOLOGY

India was facing intense levels of the production of counterfeit bills and tax evasion. To fight this issue, the country introduced demonetization. On the evening of November 8, 2016, India’s government made a surprise announcement that pertained to 86 percent of the country’s cash. Starting at midnight, 500- and 1,000-rupee cash notes would be invalid. Instead, people had to deposit those bills in banks, then withdraw an equivalent amount in new notes. While this may have seemed like a good idea for the country, challenges occurred. The replacement bills were not distributed fast enough, and the country entered a huge cash crunch that lasted about three months. This resulted in people finding alternative currencies to shop with. A temporary policy intervention was sufficient enough to motivate a significant amount of people to switch to e-payment permanently.   Read More >>

Firms Favor Academic Insights That Come From Hubs

When research professors cannot get the attention of pharmaceutical firms, they turn to start-ups to fund the research. Firms are successfully using academic science as a source of having a competitive advantage. Through this, they are able to identify a breakthrough faster than their competitors, If done properly, it could become huge. Academic science plays a growing role for technology development. Its exploitation by firms has become an important frontier for strategy. Given the volume of academic output, firms home in on the academic discoveries that would give them a leg up via hubs. Hubs are geographic clusters of companies’ R&D labs in specific technological fields. Hubs facilitate the translation of academic science into corporate inventions. The struggle with scientific literature is that its extremely voluminous, fast-changing. Much of it is useless and not reproducible. It is not wise to ignore academic science altogether, as hubs produce a disproportionate amount of useful academic science. The best gems sometimes come from unexpected places. Read More >>

Circular Economy & Entrepreneurs

The trends have shown that we are moving towards an economy of disposability, meaning that we extract valuable resources and waste them before making complete utilization.for instance, the threats possessed by single-use plastic is well known, production of clothing has doubled over the past 15 years and about 25% of food prepared for humans goes to waste causing more harm to the planet. However, recently entrepreneurs and innovators are trying to focus on the need for impact-driven innovations that are critical in order to achieve sustainable development goals giving rise to a Circular Economy. accordingly, entrepreneurs such as Karma are discovering ways to make use of excess food from restaurants and shops with interested buyers, Amprobotics is using AI and robots to revolutionise the recycling segment. Read More>>

Using Innovative Finance to Scale Up Corporate Base-of-Pyramid Initiatives

Did you know that 2.5 billion people worldwide are disabled? The disability in question costs billions of dollars in productivity every year and reduces the economic opportunity and personal safety of those afflicted. For all of the danger and the trouble that this physical trait causes, only $37 million dollars annually actually goes to helping people who need prosthetics to correct for their refractive error. The issue in question is, of course, uncorrected poor vision. This common phenomenon is a prime example of a problem that base-of-pyramid market financial innovation is poised to solve in a more efficient, effective, and wide reaching way than ever before. Jayanth Bhuvaraghan and Jasjit Singh of Essilor International and non-for-profit INSEAD Social Entrepreneurship Program (respectively) detail how financial innovation has great potential to be harnessed for good. Read more>>

The Absolutely Necessary Role Of Startups In Urban Neighborhoods Trying To Stage A Comeback

What do cities as different as Miami, Denver, and Philadelphia have in common with one another? The answer, according to Khai Tran of Forbes, is in the way they are approaching to frame their urban revitalization. Typically, cities pin a resurgence upon the acquisition of large businesses to move in and offer a number of low wage jobs in exchange for huge amounts of taxpayer credits. Rather than doing this, Tran maintains that the quickest and most effective panacea for economic rejuvenation is entrepreneurship and startups. Not only are these small businesses paying above the national average and amassing diverse teams of locally sourced talent, but they are breathing life and culture back into cities that were almost written off. Read more>>

Accounting for Time

What is time worth? We all know the simple equation: “time equals money”. In traditional corporate America we forget the equivalency of the two. If you’ve ever wondered, “Is this worth my time?” you are in good company. Ashley Whillans and Hanne Collins of  Harvard Business School decided to do the math, assigning a happiness value to time through the survey and subsequent statistical analysis of the self-reported happiness of  working adults in the United States. The results of their study may convince you to take those extra vacation days. How much happiness equivalent could you be losing by focusing on money over time? Read more>>

 

Porsche launches on-demand subscription for its sports cars and SUVs

Subscription-based car programs are increasingly an option automakers are looking to change up ownership and deal with the changing demands of customers.Porsche’s new Passport subscription program could be just what you’re looking for. The on-demand short-term rental program allows anyone in Atlanta to subscribe for $2,000 per month, which will provide access to eight models of Porsche including the 718 Boxster, Cayenne and Cayman S at launch. Read more>>

Startup Accelerators Have Become More Popular in Emerging Markets — and They’re Working

oct17-02-168261058For decades, we have heard that emerging markets are poised for huge growth that will yield even greater prosperity. But a long list of obstacles always seems to be getting in the way of realizing this potential. Startup accelerator programs have been touted as one path to faster progress. Much like their famed Silicon Valley counterparts, emerging market accelerators aim to boost startups’ potential for raising growth capital. This research shows that the effects of acceleration are remarkably similar for entrepreneurs across countries and even continents. Read more>>