The lack of coherent and established methods and processes for evaluating early-stage development projects presents a severe challenge for both investors and entrepreneurs. For investors, the lack of an established process risks making every investment decision “ad hoc”, and in the long run prevent any meaningful analysis or comparison between different investments. For the entrepreneur, it makes the fundraising process a maze of seemingly random information requests from potential investors and a constant lack of understanding of where in the process they are, what is required to reach a decision and where to focus their efforts. This thesis describes these challenges in more detail together with some general background of the tools available today. It continues to outline a generalized process for reaching an investment decision, together with descriptions of the different information artifacts that are central to the process. The result is a step-by-step process that can be predicted and iterated between the entrepreneur and the investor. In each step, focus is on a certain piece of information and the goal is to make it clear to all parties what is expected in each step and why. / Avsaknaden av en koherent och vedertagen process för att utvärdera utvecklingsprojekt i tidig fas presenterar and allvarlig utmaning för både investerare och entreprenörer. För investerare, bristen på en etablerad process riskerar att varje investeringsbeslut tas på ”ad-hoc” basis, vilket i det långa loppet omöjliggör meningsfull analys och jämförelse mellan olika investeringar. För entreprenören så gör det processen att söka investeringskapital till en labyrint av slumpmässiga informationsförfrågningar ifrån potentiella investerare och en konstant brist på förståelse för var i processen de befinner sig, vad som krävs för att nå beslut och vart de skall fokusera sitt arbete. Denna rapport beskriver dessa utmaningar i mer detalj, tillsammans med viss generell bakgrund om de verktyg som finns att tillgå idag. Den fortsätter med att beskriva en generaliserad process för att nå ett investeringsbeslut och de informationsartefakter som är centrala för processen. Resultatet är en steg för steg process som är förutsägbar och som kan itereras mellan entreprenören och investeraren. I varje steg ligger fokus på en specifik informationsdel och målet är att göra det tydligt för alla inblandade vad som förväntas i varje steg och varför.

The purpose of this thesis was to use a quantitative method to expand on previous research in the field of start-up success prediction. This was accomplished by including more criteria in the study, which was made possible by the Crunchbase database, which is the largest available information source for start-ups. Furthermore, the data used in this thesis was limited to Western European start-ups only in order to study the effects of limiting the data to a certain geographical region on the prediction models, which to our knowledge has not been done before in this type of research. The quantitative method used was machine learning and specifically the three machine learning predictors used in this thesis were Logistic Regression, Random Forest and K-nearest Neighbor (KNN). All three models proposed and evaluated have a better prediction accuracy than guessing the outcome at random. When tested on data previously unknown to the model, Random Forest produced the greatest results, predicting a successful company as a success and a failed company as a failure with 79 percent accuracy. With accuracies of 65 percent and 59 percent, respectively, both logistic regression and K-Nearest Neighbor (KNN) were close behind. / Syftet med denna avhandling var att använda en kvantitativ metod för att utöka tidigare forskning inom modellering av framgångsfaktorer för start-ups genom maskininlärning. Detta kunde åstadkommas genom att inkludera fler kriterier i studien än vad som har gjorts tidigare, vilket möjliggjordes av Crunchbase-databasen, som är den största tillgängliga informationskällan för nystartade företag. Dessutom är den data som användes i denna avhandling begränsad till endast västeuropeiska start-ups för att studera effekterna av att begränsa data till ett visst geografiskt område i prediktionsmodellerna, vilket inte har gjorts tidigare i denna typ av forskning. Den kvantitativa metoden som användes var maskininlärning och specifikt var de tre maskininlärningsmodellerna som användes i denna avhandling Logistic Regression, Random Forest och K-Nearest Neighbor (KNN). Alla tre modeller som inkluderats och utvärderats har en bättre förutsägelsesnoggrannhet än att gissa resultatet slumpmässigt. När modellerna testades med data som tidigare varit okänd för modellerna, gav Random Forest det bästa resultatet och predikterade ett framgångsrikt företag korrekt och ett misslyckat företag korrekt med 79 procents noggrannhet. Nära efter kom både K-Nearest Neighbor (KNN) och Logistic Regression med respektive noggrannheter på 65 och 59 procent.

Everyday ideas are born that change the world, ideas that beat the high-risk market of entrepreneurship. Relating to the question, what gives way to an optimal market establishment? The purpose of the thesis is to provide information related to what type of methodologies that contribute to the endeavours of a startup to successfully create a product that serves the markets needs. Achieved through careful and qualitative assessments of relevant sources in an abductive approach. The empirical findings from an observed startup serves as the basis for research, subsequently correlated and defined through scientific findings of the methodologies of the business model canvas, minimum viable product, and Lean Startup Methodology. The foundation of observations revolves around the startup company Swift, whose vision is to eliminate the risk of discrimination in the job-searching process through innovate and technical measures. Furthermore, quantitative data was gathered to assess the applicability of this study to the general startup market. The analyses of the startups utilization of the methodologies indicated flaws revolving human bias factors of interpreting data, and the effects of presenting minimum viable products to the market could effect the market establishment, relating to the customer perception within the innovation- spectrum. Conclusively, by utilizing methods that optimize multi-variable understanding, and continuous feedback by customers to validate market related hypothesises; give way to higher chances of an optimal product-market-fit.

<p>PROBLEM DISCUSSION: Vaggeryd is a small municipality Småland. In addition to its</p><p>strategic position along the main traffic route E4, Vaggeryd is very interesting also because</p><p>of its advanced view on growing of the business sector, in both short and long-term per-</p><p>spective.</p><p>To meet that goal the municipality of Vaggeryd started to invest in “Egenföretagareutbildningen”</p><p>EFU in cooperation with Jönköping International Business School (JIBS). The</p><p>main idea is that students attend the courses that are held by JIBS and during their studies start their own business in a local business incubator called Fenix.</p><p>PURPOSE: To host such education requires a huge amount of energy and resources from</p><p>the municipality, which consequently would like to get answers to questions like “Is it worth investing in the education?” or “What are the results of such education?”</p><p>The aim of this paper is to give the answers to those crucial questions though I believe that</p><p>the time that has passed from the beginning of the education is too short and that the</p><p>number of the students was not large enough to get definitive answers.</p><p>This paper concentrates on a narrow part of the qualitative research methods – an inter-</p><p>view. It is divided into two parts, a theoretical part and the empirical findings.</p><p>FINDINGS: The research showed that six students out of a total of ten from generation 2005 started a new venture, three will take over a family business, and one has not decided</p><p>to start a business yet. Of six students in generation 2003 four have started a business and one of them finished in bankruptcy, one plans to start a business in the future and one does not have a good business idea.</p><p>RECOMMENDATIONS: Answers that the interviews returned gave interesting sugges-</p><p>tions to both the municipality of Vaggeryd and JIBS about how to improve EFU. I would</p><p>emphasise two, I believe, the most important recommendations. First municipality has to</p><p>attract neighbouring municipalities in the EFU project. In addition, a greater effort should be made to help students build a spider’s web of business contacts.</p>

This paper explores the factors related to demand for craft beer and whether there is a specific stereotype of craft beer drinkers that aligns with this demand. Using regression analysis on data from all 50 states, this paper concludes that there is a significant correlation between the number of organic farms, colleges, and 55-64 year olds and the number of craft breweries in a state, suggesting that there is evidence that craft beer drinkers tend to be eco-friendly. The paper then goes on to briefly discuss certain production, distribution, and expansion strategies.

The emergence of closed-loop Brayton cycle power plants, such as the PBMR, resulted in the need to simulate start-up transients for industrial multi-stage axial flow compressors operating at subsonic conditions. This implies that the delivery pressure and power requirements must be predicted for different mass flow rates and rotational speeds while operating in the first and fourth quadrants on the compressor performance charts. Therefore, an analytical performance prediction model for subsonic multi-stage axial flow compressors had to be developed that can be integrated into a generic network analysis software code such as Flownex. For this purpose, performance calculations based on one-dimensional mean-line analysis demonstrated good accuracy, provided that the correct models for losses, incidence and deviation are used. Such a model is therefore the focus of this study. A preliminary analytical performance prediction code, with the capability of interchanging between different deviation and loss models is presented. Reasonably complex loss models are integrated in association with the correct incidence and deviation models in a software package called "Engineering Equation Solver" (EES). The total pressure loss calculations are based on a superposition of theoretically separable loss components that include the following: blade profile losses, secondary losses and annulus losses. The fundamental conservation equations for mass, momentum and energy for compressible "rotating pipe" flow were implemented into the performance prediction code. Performance prediction models were validated against experimental data and evaluated according to their ease of implementation. Verification was done by comparing simulation results with experimental work done by Von Backstrom. This includes a calculation to determine the uncertainty in the experimental results. Furthermore, since the conventional definition of isentropic efficiency breaks down at the boundaries of quadrants on the performance charts, a new non-dimensional power formulation is presented that allows for the calculation of the compressor power in all of the relevant quadrants. Good comparison was found between simulation results and measurements in the first and fourth quadrant of operation. / Thesis (M.Ing. (Nuclear Engineering))--North-West University, Potchefstroom Campus, 2007.

台灣近幾年吹起一股 O2O（Online to Offline）創業的風潮，O2O 為聯結「線上顧客」及「線下商店」的商務模式，本質上為一平台商業模式，但目前學界仍缺乏由平台角度來探討 O2O 新創公司的研究。本文採個案研究法，以「EZTABLE」作為研究個案，探討台灣 O2O 新創公司於發展歷程的平台策略，以及如何透過平台模式創造價值。經研究發現O2O新創公司之平台策略隨發展階段動態調整，透過線上支付促使金流內化以獲利，並會尋求外部夥伴合作以完善功能或拓展市場；O2O 新創公司主要透過降低搜尋成本、消彌資訊不對稱和提升服務交換效率與品質創造價值，且價值創造仰賴完整 O2O 循環。最後根據研究結果提出理論與實務上的意涵及建議。

Le point de départ de cette thèse a été constitué par la création, en France, des Pôles de Compétitivité pour fonder une nouvelle économie nationale basée sur la science. Ces structures s’inscrivent dans la perspective théorique qui s’est construite sur l’importance de l’action partenariale, dans l’émergence, la diffusion et le développement de l’innovation technologique des petites entreprises. Toute l’organisation actuelle des pôles repose en effet sur un courant théorique qui stipule que le principe fondateur de l’innovation au sein des petites entreprises est la proximité. Ce courant a connu un considérable essor, notamment avec les écrits de M. Porter sur la notion du « Cluster ». Cependant, l’innovation technologique est un défi d'envergure pour les petites entreprises innovantes, car celles-ci sont confrontées à des situations de risques qui freinent leur développement. Au même temps, pour faire face à ces risques, bon nombre de chercheurs ont mis en évidence le lien étroit entre la nature du financement et le développement de l’innovation technologique des petites entreprises ainsi que l’ensemble d’un cluster. C’est notamment le cas dans la co-location de la science, l’industrie, et la finance par capital-risque au sein de la Silicon Valley. Au sein de ce cluster, il existe un lien intime entre le financement par capital-risque et son évolution économique. Ainsi, comme pour les pôles de compétitivité (Dupuy et Granier, 2010), le financement par capital-risque est alors présenté comme l’ultime alternative pour le financement et le développement de l’innovation entrepreneuriale (Gompers et al., (2005), Klagge et Martin (2005), Ferrary (2006, 2007, 2009)). Ces sociétés sont alors considérées comme les « encastreurs » ; le relais entre les ressources locales d’un cluster et les besoins des petites entreprises. Non seulement elles financent le projet entrepreneurial, mais elles soutiennent également l’innovation des petites entreprises à travers des actions concertées avec les acteurs locaux d’un cluster, comme les centres de recherche, de formation, et les grandes entreprises. Notre recherche vise, par conséquent, répondre à la problématique suivante: « Comment les sociétés de capital-risque assurent-elles le management des entreprises innovantes dans le cadre d’un pôle de compétitivité? ». Il faut dire que la littérature est riche en ce qui concerne le lien entre le financement de l’innovation par capital-risque et le développement des réseaux d’innovation (Gompers et al., 2005 ; Ferrary, 2006, 2007), néanmoins, cette question demeure sans explication complète et définitive dans le cas des pôles de compétitivité. Ainsi, afin d’apporter de nouveaux éléments qui expliquent ce paradoxe, nous allons essayer, à travers cette thèse, d’élaborer un cadre explicatif du comportement des sociétés du capital-risque au sein d’un pôle de compétitivité. / The starting point of this thesis was formed by the creation in France of the “Pôle de Competitive” as Clusters to found a new economy based on science. These structures are part of the theoretical perspective that has been built on the importance of partnership action, in the emergence, dissemination and development of technological innovation of small businesses. All the current organization of the poles is indeed based on a theoretical current which states that the founding principle of innovation in small firms is proximity. This trend has seen a considerable growth, particularly with the writings of Michael Porter about the notion of "Cluster". However, technological innovation is a major challenge for small innovative companies, as they face situations of risk which hamper their development. At the same time, to address these risks, many researchers have highlighted the close link between the nature of the financing and development of technological innovation of small businesses as well as an entire cluster. This is the case in the co-location of science, industry, finance and venture capital in Silicon Valley. Within this cluster, there is a close link between funding by venture capital and its economic development. Thus, as for Pôles de Compétitivité (Dupuy and Granier, 2010), the venture capital financing is then presented as the ultimate alternative for the financing and development of entrepreneurial innovation (Gompers et al., (2005) , Klagges and Martin (2005), Ferrary (2006, 2007, 2009)). These companies are then considered as the link between local resources in a cluster and the needs of small businesses. They not only fund the entrepreneurial project, but they also support small business innovation through joint actions with local actors in a cluster, such as research, training, and large enterprises. Our research is, therefore, answer the following question: "How do venture capital companies they provide the management of innovative companies as part of a pôle de compétitivité? ". It must be said that literature is rich regarding the link between the financing of innovation through venture capital and development of innovation networks (Gompers et al. 2005; Ferrary, 2006, 2007), however, this remains unexplained in the case of these clusters. Thus, in order to bring new elements that explain this paradox, we will try, through this thesis, to develop a framework explaining the behavior of venture capital firms in a pôle de compétitivité.

Cette étude sur le démarrage des turbines à gaz (TAG) s’inscrit dans le cadre de l’hybridation d’un turbomoteur d’hélicoptère avec un objectif de réduction de consommation. En effet, un nouveau mode de vol pour hélicoptère bimoteurs est envisagé avec l’extinction d’un moteur en vol, ce qui permettrai tune économie de carburant de l’ordre de 15% d’après Safran Helicopter Engines. La certification d’untel mode de vol nécessite alors de progresser sur la compréhension de la phase de démarrage de la TAG pour garantir un taux d’échec de redémarrage en vol très faible ainsi qu’une capacité de réactivation d’urgence de la TAG éteinte. Le démarrage se décompose en deux grandes phases, la phase d’allumage et la phase d’accélération. A l’issue d’une étude phénoménologique détaillée, les paramètres d’influence ont été identifiés pour chacune de ces phases. Une campagne d’essais de démarrage au sol et à température ambiante, menée chez Safran Helicopter Engines, a été réalisée pour étudie r la capacité de redémarrage du turbomoteur RTM322. L’analyse des résultats a permis d’étayer l’étude phénoménologique effectuée ainsi que de fournir des données pour alimenter les premiers outils numériques 0D développés au court de cette thèse. Le modèle 0D implémenté permet de reproduire une séquence de démarrage complète, avec une prise en compte simple de l’allumage, et ce jusqu’au régime ralenti. Un travail d’extension des caractéristiques des différents composants et systèmes ainsi qu’une étude de différents phénomènes transitoire sont été nécessaire pour y parvenir. Les résultats d’essais étant cependant quasi-inexistants à bas régime,le modèle possède un certain degré d’incertitude dans ces conditions. Enfin, la capacité de réactivation rapide de la TAG a été étudiée avec l’évaluation des gains de temps potentiellement atteignables d’après les essais et à l’aide du modèle développé. Une campagne d’essais complémentaires dédiée aux faibles régimes et pour des conditions environnementales plus sévères en termes de pression et de température permettrait de réduire le degré d’incertitude des projections ainsi obtenues. Une nouvelle campagne d’essai permettrait aussi de tester les différentes améliorations proposées en termes de réactivation. / This study on the start-up phase of gas turbine engines takes place in the context of the hybridization of a helicopter turboshaft engine with a decreased fuel consumption target. A new flight mode for a twin engine helicopter with the shutdown of one engine in-flight is being considered. For Safran Helicopter Engines, this mode would allow up to 15% of fuel savings. The certification of this flight mode involves improving the understanding of the start-up phase of gas turbine engines towards a close-to-zero failure rate for in-flight restarts as well as a fast restart capability of the shutdown engine. The start-up phase is composed of two main steps: the light-up and the acceleration. A detailed phenomenological study has highlighted the factors influencing the performance for each of these two steps. A test rig campaign at sea level and ambient temperature, performed at Safran Helicopter Engines, took place in order to study the restart capability of the RTM322 turboshaft engine. Analyzing the results of this campaign provided support to the phenomenological study and fed the first 0D numerical tools developed in this thesis with data. The 0D model implemented can simulate a full start-up sequence towards idle speed, with a basic approach to account for the light-up phase. This achievement required working on the extension of the various component characteristics towards sub-idle speeds and also on the different transient phenomena involved. The lack of test rig data at low speed leads to a level of uncertainty in these conditions. Finally, the fast restart capability was studied, with the assessments of time saved potentially achievable from the test rig data and with the model developed in this thesis. A new test rig campaign dedicated to low speed operations with more severe environmental conditions in pressure and temperature would allow to lower the level of uncertainty of the simulation results. This would also be the opportunity to test the various improvements suggested in terms of fast restart.

Background: Sweden is the home to many successful startups. The lack of IT-developers causes companies to use offshore outsourcing to realize their ideas. In research, there are studies on what needs to be done to outsource successfully. Researchers and practitioners argue that different perspectives on the impact of success need to be considered. Many studies show that the quality of the partnership relationship between customer and supplier is essential for the success of an outsourcing project. However, there are little studies on how success in outsourcing for a start-up comes about in the pre start-up phase and from which factors this depends. Purpose: This research has the purpose to understand why software startups outsource offshore in the pre-startup phase and how success can be achieved in these outsourcing projects. The partnership relationship has an influence on the success of outsourcing and is influenced by several factors. This research aims to find critical success factors in the pre start-up phase for offshore outsourcing. Method: To find answers to our research questions a multiple case study within 9 Swedish start-ups was conducted. Therefore, we collected all data through semi-structured interviews based on an interview guide. The critical success factors in outsourcing in the pre start-up phase were analyzed using content analysis methods. Conclusion: Our results show that outsourcing was an essential business step for all the examined software start-ups in order to realize their idea. In most cases, tactical reasons like availability of resources and costs savings were why start-ups chose to outsource software development to a provider abroad. The quick confirmation of ideas was another important aspect for some start-ups:  "fail fast and fail cheap". All investigated factors play a role in offshoring success, but communication, which directly influences trust, has the biggest influence on outsourcing success in the pre start-up phase of a firm. All other success factors influence the trust between client and vendor, which has a positive influence on the outsourcing success. It turns out that factors such as performance become more relevant in a more mature phase of the business.