All things must pass: New Orleans Entrepreneur Week 2013 wrapped up on Friday with a series of wide-scope business pitch contests capping a week of more specialized similar events. The Times-Picayune reports there was a tie in the Big Idea pitch contest, with a pair of startups each getting $50,000 in seed money. The winners were Education Everytime, a system that uses musical cues to help schools run more efficiently, and Your Nutrition Delivered, which sends fresh, cooked meals to clients. More details can be found in the full story here. Baton Rouge Entrepreneurship Week is expected to take place in the fall, but specifics have yet to be released.
Intelligent imports: The United States has long been a magnet for some of the world’s brightest innovators and entrepreneurs. But as The Washington Post reports, competition for foreign talent is swelling, and experts warn that the country could fall behind as other nations beef up efforts to lure the next generation of business leaders. “What was once the secret sauce of our economic advantage, a strong entrepreneurial economy that rewards risk, disruption and innovation, is being replicated aggressively around the world,” says Steve Case, co-founder of AOL and head of investment firm Revolution LLC. Read the full story here.
Like it or not: The Securities and Exchange Commission says it has approved a plan by the Nasdaq stock exchange to pay $62 million in reimbursements to investment firms that lost money because of technical problems during Facebook’s initial public offering last year. The Nasdaq said in June it would pay $40 million, but later increased the amount to $62 million. Facebook went public May 18 amid great fanfare, but computer glitches at the Nasdaq delayed the start of trading and threw the debut into chaos. Technical problems prevented many investors from buying shares that morning, selling them later in the day or even knowing whether their orders went through.
Today’s poll question: Have you ever been a victim of hacking, either on your personal computer or at work?
Editor’s note: This story has been changed since its original publication to correct the date on which New Orleans Entrepreneur Week concluded and to include the winners of the Big Pitch contest. Daily Report regrets the error.
