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Enter InnoCentive, a research firm that does R and D with a difference. InnoCentive has built up a network of some 140,000 "problem solvers" around the world - they are science Ph.D.s in Russia and engineers in India and amateur inventors in America. InnoCentive posts "challenges" it receives from client companies - the pharma giant Eli Lilly is a customer - on its website, and the solvers go to work, with a cash reward at stake for the right answer. Not only does the InnoCentive method save on costs by allowing companies to outsource some of their...
InnoCentive was looking to expand beyond industrial research into philanthropy; Bent needed a better light for the developing world. With funding from the Rockefeller Foundation and the New York venture capital firm Spencer Trask - launched over a century ago by the man who helped finance Thomas Edison's first light bulb - Bent put up a challenge on InnoCentive's network to improve on his BOGO light. It was answered in short order by a engineer in New Zealand named Russell McMahon, who came up with a new design that makes better use of both the solar battery and the LEDs...
...Boeing's backers on Capitol Hill argue that the Air Force should have factored in damage to the U.S. industrial base - and the loss of American jobs - by letting the contract to the foreign firm. (The Airbus team claims its deal will support 25,000 U.S. jobs, but Boeing says it would have created more.) Underscoring the sensitivity of the topic on Capitol Hill, a top Air Force official addressing a House hearing on Wednesday referred to the winning bid using only the name of its American partner. "Northrop Grumman brought their A-game" to the competition, said Air Force...
...Murdoch's estimated $1 billion equity contribution to the bid, business author Neil Chenoweth says, "For Lachlan to be doing what he's doing, family money has to be involved." Then again, Chenoweth concedes that it's unclear how much Murdoch's main backer, SPO Partners, a private investment firm based in San Francisco, is putting up. Lachlan is adamant: "This is completely my own transaction," he told reporters in January. Asked about the CMH bid last month, Rupert Murdoch said, "Not only are we [News Corp.] not involved, I'm pretty ignorant about...
...will be able to better utilize this pedagogy at their schools,” Cietanno said. “And this will have a multiplier effect in terms of building capacity in these regions.” Some of the other institutions that have partnered with the Wall Street firm include Brown University, the Indian School of Business, the University of Dar es Salaam, and the Wharton School at the University of Pennsylvania. The initiative was launched by Goldman after the investment bank published a recent research report, called “Women Hold Up Half...