Emerging VC Industry: Do Market Expectations Play the Most Important Role in Project Selection? Evidence on Russian Data

The venture capital becomes more and more advanced and effective source of the innovation project financing, connected with a high-risk level. In the developed countries, it plays a key role in transforming innovation projects into successful businesses and creating the prosperity of the modern economy. In Russia, there are many necessary preconditions for creation of the effective venture investment system: the network of the public institutes for innovation financing operates; there is a significant number of the small and medium-sized enterprises, capable to sell production with good market potential. However, the current system does not confirm the necessary level of efficiency in practice that can be substantially explained by the absence of the accurate plan of action to form the national venture model and by the lack of experience of successful venture deals with profitable exits in Russian economy. This paper studies the influence of various factors on the venture industry development by the example of the IT-sector in Russia. The choice of the sector is based on the fact, that this segment is the main driver of the venture capital market growth in Russia, and the necessary set of data exists. The size of investment of the second round is used as the dependent variable. To analyse the influence of the previous round, such determinant as the volume of the previous (first) round investments is used. There is also used a dummy variable in regression to examine that the participation of an investor with high reputation and experience in the previous round can influence the size of the next investment round. The regression analysis of short-term interrelations between studied variables reveals prevailing influence of the volume of the first round investments on the venture investments volume of the second round. The most important determinant of the value of the second-round investment is the value of first–round investment, so it means that the most competitive on the Russian market are the start-up teams that can attract more money on the start, and the target market growth is not the factor of crucial importance. This supports the point of view that VC in Russia is driven by endogenous factors and not by exogenous ones that are based on global market growth.

Computer Aided Design Solution Based on Genetic Algorithms for FMEA and Control Plan in Automotive Industry

In this paper we propose a computer-aided solution with Genetic Algorithms in order to reduce the drafting of reports: FMEA analysis and Control Plan required in the manufacture of the product launch and improved knowledge development teams for future projects. The solution allows to the design team to introduce data entry required to FMEA. The actual analysis is performed using Genetic Algorithms to find optimum between RPN risk factor and cost of production. A feature of Genetic Algorithms is that they are used as a means of finding solutions for multi criteria optimization problems. In our case, along with three specific FMEA risk factors is considered and reduce production cost. Analysis tool will generate final reports for all FMEA processes. The data obtained in FMEA reports are automatically integrated with other entered parameters in Control Plan. Implementation of the solution is in the form of an application running in an intranet on two servers: one containing analysis and plan generation engine and the other containing the database where the initial parameters and results are stored. The results can then be used as starting solutions in the synthesis of other projects. The solution was applied to welding processes, laser cutting and bending to manufacture chassis for buses. Advantages of the solution are efficient elaboration of documents in the current project by automatically generating reports FMEA and Control Plan using multiple criteria optimization of production and build a solid knowledge base for future projects. The solution which we propose is a cheap alternative to other solutions on the market using Open Source tools in implementation.

Exploration and Exploitation within Operations

Exploration and exploitation capabilities are both important within Operations as means for improvement when managed separately, and for establishing dynamic improvement capabilities when combined in balance. However, it is unclear what exploration and exploitation capabilities imply in improvement and development work within an Operations context. So, in order to better understand how to develop exploration and exploitation capabilities within Operations, the main characteristics of these constructs needs to be identified and further understood. Thus, the objective of this research is to increase the understanding about exploitation and exploration characteristics, to concretize what they translates to within the context of improvement and development work in an Operations unit, and to identify practical challenges. A literature review and a case study are presented. In the literature review, different interpretations of exploration and exploitation are portrayed, key characteristics have been identified, and a deepened understanding of exploration and exploitation characteristics is described. The case in the study is an Operations unit, and the aim is to explore to what extent and in what ways exploration and exploitation activities are part of the improvement structures and processes. The contribution includes an identification of key characteristics of exploitation and exploration, as well as an interpretation of the constructs. Further, some practical challenges are identified. For instance, exploration activities tend to be given low priority, both in daily work as in the manufacturing strategy. Also, the overall understanding about the concepts of exploitation and exploration (or any similar aspect of dynamic improvement capabilities) is very low.

Effects of Biostimulant Application on Quali-Quantitative Characteristics of Cauliflower, Pepper and Fennel Crops under Organic and Conventional Fertilization

Nowadays, the main goal for modern horticultural production is an increase the quality. In recent years, the use of organic fertilizers or biostimulants that can be applied in agriculture to improve quali-quantitative crop yields has encountered increasing interest. Biostimulants are gaining importance also for their possible use in organic and sustainable agriculture, to avoid excessive fertilizer applications. Consecutive experimental trials were carried out in the Apulia region (southern Italy) on three herbaceous crops (cauliflower, pepper, fennel) grown in pots under conventional and organic fertilization systems without and with biostimulants. The aim was to determine the effects of three biostimulants (Siapton®10L, Micotech L, Lysodin Alga-Fert) on quali-quantitative yield characteristics. At harvest, the quali-quantitative yield characteristics of each crop were determined. All of the experimental data were subjected to analysis of variance (ANOVA), and when significant effects were detected, the means were compared using Tukey’s tests. These data show large differences in these yield characteristics between conventional and organic crops, particularly highlighting higher yields for the conventional crops, while variable results were generally observed when the biostimulants were applied. In this context, there were no effects of the biostimulants on the quantitative yield, whereas there were low positive effects on the qualitative characteristics, as related to higher dry matter content of cauliflower, and higher soluble solids content of pepper. Moreover, there were evident positive effects of the biostimulants with fennel, due to the lower nitrate content. These latter data are in line with most of the published literature obtained for other herbaceous crops.

Development and Characterization of Bio-Tribological, Nano-Multilayer Coatings for Medical Tools Application

Development of new generation bio-tribological, multilayer coatings opens an avenue for fabrication of future hightech functional surfaces. In the presented work, nano-composite, Cr/CrN+[Cr/ a-C:H implanted by metallic nanocrystals] multilayer coatings have been developed for surface protection of medical tools. Thin films were fabricated by a hybrid Pulsed Laser Deposition technique. Complex microstructure analysis of nanomultilayer coatings, subjected to mechanical and biological tests, were performed by means of transmission electron microscopy (TEM). Microstructure characterization revealed the layered arrangement of Cr23C6 nanoparticles in multilayer structure. Influence of deposition conditions on bio-tribological properties of the coatings was studied. The bio-tests were used as a screening tool for the analyzed nanomultilayer coatings before they could be deposited on medical tools. Bio-medical tests were done using fibroblasts. The mechanical properties of the coatings were investigated by means of a ball-ondisc mechanical test. The micro hardness was done using Berkovich indenter. The scratch adhesion test was done using Rockwell indenter. From the bio-tribological point of view, the optimal properties had the C106_1 material.

Implementing a Strategy of Reliability Centered Maintenance (RCM) in the Libyan Cement Industry

The substantial development of the construction industry has forced the cement industry, its major support, to focus on achieving maximum productivity to meet the growing demand for this material. This means that the reliability of a cement production system needs to be at the highest level that can be achieved by good maintenance. This paper studies the extent to which the implementation of RCM is needed as a strategy for increasing the reliability of the production systems component can be increased, thus ensuring continuous productivity. In a case study of four Libyan cement factories, 80 employees were surveyed and 12 top and middle managers interviewed. It is evident that these factories usually breakdown more often than once per month which has led to a decline in productivity. In many times they cannot achieve the minimum level of production amount. This has resulted from the poor reliability of their production systems as a result of poor or insufficient maintenance. It has been found that most of the factories’ employees misunderstand maintenance and its importance. The main cause of this problem is the lack of qualified and trained staff, but in addition it has been found that most employees are not found to be motivated as a result of a lack of management support and interest. In response to these findings, it has been suggested that the RCM strategy should be implemented in the four factories. The results show the importance of the development of maintenance strategies through the implementation of RCM in these factories. The purpose of it would be to overcome the problems that could secure the reliability of the production systems. This study could be a useful source of information for academic researchers and the industrial organizations which are still experiencing problems in maintenance practices.

Challenges in Anti-Counterfeiting of Cyber-Physical Systems

This paper examines the system protection for cyber-physical systems (CPS). CPS are particularly characterized by their networking system components. This means they are able to adapt to the needs of their users and its environment. With this ability, CPS have new, specific requirements on the protection against anti-counterfeiting, know-how loss and manipulation. They increase the requirements on system protection because piracy attacks can be more diverse, for example because of an increasing number of interfaces or through the networking abilities. The new requirements were identified and in a next step matched with existing protective measures. Due to the found gap the development of new protection measures has to be forced to close this gap. Moreover a comparison of the effectiveness between selected measures was realized and the first results are presented in this paper.

Bond-Slip Response of Reinforcing Bars Embedded in High Performance Fiber Reinforced Cement Composites

This paper presents the results of an experimental study undertaken to evaluate the local bond stress-slip response of short embedment of reinforcing bars in normal concrete (NC) and high performance fiber reinforced cement composites (HPFRCC) blocks. Long embedment was investigated as well to gain insights on the distribution of strain, slip, bar stress and bond stress along the bar especially in post-yield range. A total of 12 specimens were tested, by means of pull-out of the reinforcing bars from concrete blocks. It was found that the enhancement of local bond strength can be reached up to 50% and ductility of the bond behavior was improved significantly if HPFRCC is used. Also, under a constant strain at loaded end, HPFRCC has delayed yielding of bars at other location from the loaded end. Hence, the reduction of bond stress was slower for HPFRCC in comparison with NC. Due to the same reason, the total slips at loaded end for HPFRCC was smaller than NC as expected. Test results indicated that HPFRCC has better bond slip behavior which makes it a suitable material to be employed in anchorage zone such as beam-column joints.

CFD Simulations to Study the Cooling Effects of Different Greening Modifications

The objective of this study is to conduct computational fluid dynamic (CFD) simulations for evaluating the cooling efficacy from vegetation implanted in a public park in the Taipei, Taiwan. To probe the impacts of park renewal by means of adding three pavilions and supplementary green areas on urban microclimates, the simulated results have revealed that the park having a higher percentage of green coverage ratio (GCR) tended to experience a better cooling effect. These findings can be used to explore the effects of different greening modifications on urban environments for achieving an effective thermal comfort in urban public spaces.

Optimal Economic Load Dispatch Using Genetic Algorithms

In a practical power system, the power plants are not located at the same distance from the center of loads and their fuel costs are different. Also, under normal operating conditions, the generation capacity is more than the total load demand and losses. Thus, there are many options for scheduling generation. In an interconnected power system, the objective is to find the real and reactive power scheduling of each power plant in such a way as to minimize the operating cost. This means that the generator’s real and reactive powers are allowed to vary within certain limits so as to meet a particular load demand with minimum fuel cost. This is called optimal power flow problem. In this paper, Economic Load Dispatch (ELD) of real power generation is considered. Economic Load Dispatch (ELD) is the scheduling of generators to minimize total operating cost of generator units subjected to equality constraint of power balance within the minimum and maximum operating limits of the generating units. In this paper, genetic algorithms are considered. ELD solutions are found by solving the conventional load flow equations while at the same time minimizing the fuel costs.

Changing Geomorphosites in a Changing Lake: How Environmental Changes in Urmia Lake Have Been Driving Vanishing or Creating of Geomorphosites

Any variation in environmental characteristics of geomorphosites would lead to destabilisation of their geotouristic values all around the planet. The Urmia lake, with an area of approximately 5,500 km2 and a catchment area of 51,876 km2, and to which various reasons over time, especially in the last fifty years have seen a sharp decline and have decreased by about 93 % in two recent decades. These variations are not only driving significant changes in the morphology and ecology of the present lake landscape, but at the same time are shaping newly formed morphologies, which vanished some valuable geomorphosites or develop into smaller geomorphosites with significant value from a scientific and cultural point of view. This paper analyses and discusses features and evolution in several representative coastal and island geomorphosites. For this purpose, a total of 23 geomorphosites were studied in two data series (1963 and 2015) and the respective data were compared and analysed. The results showed, the total loss in geomorphosites area in a half century amounted to a loss of more than 90% of the valuable geomorphosites. Moreover, the comparison between the mean yearly value of coastal area lost over the entire period and the yearly average calculated for the shorter period (1998- 2014) clearly indicates a pattern of acceleration. This acceleration in the rate of reduction in lake area was seen in most of the southern half of the lake. In the region as well, the general water-level falling is not only causing the loss of a significant water resource, which is followed by major impact on regional ecosystems, but is also driving the most marked recent (last century) changes in the geotouristic landscapes. In fact, the disappearance of geomorphosites means the loss of tourism phenomenon. In this context attention must be paid to the question of conservation. The action needed to safeguard geomorphosites includes: 1) Preventive action, 2) Corrective action, and 3) Sharing knowledge.

Human Trafficking: The Kosovar Perspective of Fighting the Phenomena through Police and Civil Society Cooperation

The rationale behind this study is considering combating and preventing the phenomenon of trafficking in human beings from a multidisciplinary perspective that involves many layers of the society. Trafficking in human beings is an abhorrent phenomenon highly affecting negatively the victims and their families in both human and material aspect, sometimes causing irreversible damages. The longer term effects of this phenomenon, in countries with a weak economic development and extremely young and dynamic population, such as Kosovo, without proper measures to prevented and control can cause tremendous damages in the society. Given the fact that a complete eradication of this phenomenon is almost impossible, efforts should be concentrated at least on the prevention and controlling aspects. Treating trafficking in human beings based on traditional police tactics, methods and proceedings cannot bring satisfactory results. There is no doubt that a multi-disciplinary approach is an irreplaceable requirement, in other words, a combination of authentic and functional proactive and reactive methods, techniques and tactics. Obviously, police must exercise its role in preventing and combating trafficking in human beings, a role sanctioned by the law, however, police role and contribution cannot by any means considered complete if all segments of the society are not included in these efforts. Naturally, civil society should have an important share in these collaborative and interactive efforts especially in preventive activities such as: awareness on trafficking risks and damages, proactive engagement in drafting appropriate legislation and strategies, law enforcement monitoring and direct or indirect involvement in protective and supporting activities which benefit the victims of trafficking etc.

Deformation of Metallic Foams with Closed Cell at High Temperatures

The aim of this study is to investigate formability of Al based closed cell metallic foams at high temperature. The foam specimens with rectangular section were produced from AlMg1Si0.6TiH20.8 alloy preform material. Bending and free bending tests based on gravity effect were applied to foam specimens at high temperatures. During the tests, the time-angular deformation relationships with various temperatures were determined. Deformation types formed in cell walls were investigated by means of Scanning Electron Microscopy (SEM) and optical microscopy. Bending deformation about 90° was achieved without any defect at high temperatures. The importance of a critical temperature and deformation rate was emphasized in maintaining the deformation. Significant slip lines on surface of cell walls at tensile zones of bending specimen were observed. At high strain rates, the microcrack formation in boundaries of elongated grains was determined.

The Effect of the Side-Weir Crest Height to Scour in Clay-Sand Mixed Sediments

Experimental studies to investigate the depth of the scour conducted at a side-weir intersection located at the 1800 curved flume which located Hydraulic Laboratory of Yıldız Technical University, Istanbul, Turkey. Side weirs were located at the middle of the straight part of the main channel. Three different lengths (25, 40 and 50 cm) and three different weir crest height (7, 10 and 12 cm) of the side weir placed on the side weir station. There is no scour when the material is only kaolin. Therefore, the cohesive bed was prepared by properly mixing clay material (kaolin) with 31% sand in all experiments. Following 24h consolidation time, in order to observe the effect of flow intensity on the scour depth, experiments were carried out for five different upstream Froude numbers in the range of 0.33-0.81. As a result of this study the relation between scour depth and upstream flow intensity as a function of time have been established. The longitudinal velocities decreased along the side weir; towards the downstream due to overflow over the side-weirs. At the beginning, the scour depth increases rapidly with time and then asymptotically approached constant values in all experiments for all side weir dimensions as in non-cohesive sediment. Thus, the scour depth reached equilibrium conditions. Time to equilibrium depends on the approach flow intensity and the dimensions of side weirs. For different heights of the weir crest, dimensionless scour depths increased with increasing upstream Froude number. Equilibrium scour depths which formed 7 cm side-weir crest height were obtained higher than that of the 12 cm side-weir crest height. This means when side-weir crest height increased equilibrium scour depths decreased. Although the upstream side of the scour hole is almost vertical, the downstream side of the hole is inclined.

Semi-Automated Tracking of Vibrissal Movements in Free-Moving Rodents Captured by High-Speed Videos

Quantitative analyses of whisker movements provide a means to study functional recovery and regeneration of mouse facial nerve after an injury. However, accurate tracking of the mouse whisker movement is challenging. Most methods for whisker tracking require manual intervention, e.g. fixing the head of the mouse during a study. Here we describe a semi-automated image processing method, which is applied to high-speed video recordings of free-moving mice to track the whisker movements. We first track the head movement of a mouse by delineating the lower head contour frame-by-frame that allows for detection of the location and orientation of the head. Then, a region of interest is identified for each frame; the subsequent application of a mask and the Hough transform detects the selected whiskers on each side of the head. Our approach is used to examine the functional recovery of damaged facial nerves in mice over a course of 21 days.

Demographics Are Not Enough: Targeting and Segmentation of Anti-Obesity Campaigns in Mexico

Mass media campaigns against obesity are often designed to impact large audiences. This usually means that their audience is defined based on general demographic characteristics like age, gender, occupation etc., not taking into account psychographics like behavior, motivations, wants, etc. Using psychographics, as the base for the audience segmentation, is a common practice in case of successful campaigns, as it allows developing more relevant messages. It also serves a purpose of identifying key segments, those that generate the best return on investment. For a health campaign, that would be segments that have the best chance of being converted into healthy lifestyle at the lowest cost. This paper presents the limitations of the demographic targeting, based on the findings from the reception study of IMSS (Mexican Social Security Institute) antiobesity TV commercials and proposes mothers as the first level of segmentation, in the process of identifying the key segment for these campaigns.

Performance and Emission Prediction in a Biodiesel Engine Fuelled with Honge Methyl Ester Using RBF Neural Networks

In the present study, RBF neural networks were used for predicting the performance and emission parameters of a biodiesel engine. Engine experiments were carried out in a 4 stroke diesel engine using blends of diesel and Honge methyl ester as the fuel. Performance parameters like BTE, BSEC, Tex and emissions from the engine were measured. These experimental results were used for ANN modeling. RBF center initialization was done by random selection and by using Clustered techniques. Network was trained by using fixed and varying widths for the RBF units. It was observed that RBF results were having a good agreement with the experimental results. Networks trained by using clustering technique gave better results than using random selection of centers in terms of reduced MRE and increased prediction accuracy. The average MRE for the performance parameters was 3.25% with the prediction accuracy of 98% and for emissions it was 10.4% with a prediction accuracy of 80%.

Margin-Based Feed-Forward Neural Network Classifiers

Margin-Based Principle has been proposed for a long time, it has been proved that this principle could reduce the structural risk and improve the performance in both theoretical and practical aspects. Meanwhile, feed-forward neural network is a traditional classifier, which is very hot at present with a deeper architecture. However, the training algorithm of feed-forward neural network is developed and generated from Widrow-Hoff Principle that means to minimize the squared error. In this paper, we propose a new training algorithm for feed-forward neural networks based on Margin-Based Principle, which could effectively promote the accuracy and generalization ability of neural network classifiers with less labelled samples and flexible network. We have conducted experiments on four UCI open datasets and achieved good results as expected. In conclusion, our model could handle more sparse labelled and more high-dimension dataset in a high accuracy while modification from old ANN method to our method is easy and almost free of work.

Press Hardening of Tubes with Additional Interior Spray Cooling

Press-hardened profiles are used e.g. for automotive applications in order to improve light weight construction due to the high reachable strength. The application of interior water-air spray cooling contributes to significantly reducing the cycle time in the production of heat-treated tubes. This paper describes a new manufacturing method for producing press-hardened hollow profiles by means of an additional interior cooling based on a water-air spray. Furthermore, this paper provides the results of thorough investigations on the properties of press-hardened tubes in dependence of varying spray parameters.

Data Hiding by Vector Quantization in Color Image

With the growing of computer and network, digital data can be spread to anywhere in the world quickly. In addition, digital data can also be copied or tampered easily so that the security issue becomes an important topic in the protection of digital data. Digital watermark is a method to protect the ownership of digital data. Embedding the watermark will influence the quality certainly. In this paper, Vector Quantization (VQ) is used to embed the watermark into the image to fulfill the goal of data hiding. This kind of watermarking is invisible which means that the users will not conscious the existing of embedded watermark even though the embedded image has tiny difference compared to the original image. Meanwhile, VQ needs a lot of computation burden so that we adopt a fast VQ encoding scheme by partial distortion searching (PDS) and mean approximation scheme to speed up the data hiding process. The watermarks we hide to the image could be gray, bi-level and color images. Texts are also can be regarded as watermark to embed. In order to test the robustness of the system, we adopt Photoshop to fulfill sharpen, cropping and altering to check if the extracted watermark is still recognizable. Experimental results demonstrate that the proposed system can resist the above three kinds of tampering in general cases.