Current world economy is impacted by the new and the old economy systems primarily due to high-tech software and hardware products that are constantly emerging to the market place. It has brought many innovations and high efficiencies to people¡¦s daily lives, e.g., the food, clothing, housing and transportation, etc. The influence of this evolution is potentially enormous and such evolution inspires people¡¦s confidence in the current Electronic Age. By reviewing the world¡¦s current economy, it appears that winner¡¦s economy system must rely on both the new and the old economy industries positively. In other words, the new economy has to be established on the foundation of stable traditional industries, and the old economy system must be improved and advanced with the help of the new technology. The basic reason is that the necessities of people¡¦s life are mostly supplied by the traditional industries from the old economy. As an island nation under the trend of the world¡¦s economy, Taiwan¡¦s new and old economy systems are required to be balanced in such a way that mutually one benefits the other. Because of this concern, the new government proposed a ¡§Green Silicon-Island Economical Development Project¡¨, and aggressively launched a ¡§Boosting Traditional Industry Plan¡¨ as well. By cultivating the traditional industries, the new economic technology can prosper accordingly. At this opportunistic juncture, Company A formulated a 5-year business plan to venture into a traditional industry: manufacturing of friction materials. The goal is to raise 4 million USD for starting up a production facility to manufacture and market a wide range of friction materials, in an effort to respond to the Government¡¦s call of boosting traditional industries. The main focuses of the proposed business are to build a solid manufacturing foundation on Taiwan, to market the products to the entire world, and to thrive the business to excellence with technology-based operation and management. The variety of friction materials is overwhelming. In terms of material composition, friction materials can be classified into the following four types: semi-metallic, sintered metallic, paper-based, and carbon fiber-based materials. This proposal explores key issues that are essential to the success of the production of all four types of friction materials. These key issues include: industry infrastructure, market size analysis, marketing strategies, operation networking, risk analysis, and core technical strength. Based on the above analysis, a 5-year financial planning is presented. Detailed analysis for the financial objectives on financial feasibility, cash flow, break-even point, and investment interests are also included. ¡K¡K¡K¡K¡K

This paper investigates the strategic framing approaches implemented by tech entrepreneurs in developing economies to attract financing from venture capital (VC) firms in developed economies. The study addresses the limited research in the field of entrepreneurship, specifically focusing on entrepreneurs’ subjective perspectives on strategically framing their startups to secure VC investment from developed economies. Additionally, it aims to make an initial contribution by exploring how these tech entrepreneurs in developing economies strategically frame their start-ups to attract VC funding from developed economies. The research methodology involves conducting semi-structured interviews with tech entrepreneurs who have successfully attracted VC financing through strategic framing.By analysing the interview data, we dive into the strategic framing approaches utilized by these tech entrepreneurs, with a particular emphasis on entrepreneurs in Kenya as the sample case, to secure financing from VC firms in developed economies. The insights shared by the interviewed tech founders highlight the crucial factors they strategically consider when framing their startups to attract VC financing. This strategic framing process involves extensive research, multiple iterations of pitch decks, metrics, and legal frameworks for a startup to raise VC financing. This study provides valuable insights into how entrepreneurs strive to understand venture capitalists’ perceptions of the Kenyan tech startup landscape and the criteria VC firms seek prior to making investments. Such knowledge empowers startup founders to position themselves strongly in terms of financial opportunities during the scaling and shaping phases of their tech startups. It is important to note that this study focuses on a small group of tech entrepreneurs in Kenya and may not capture potential industry, cultural, geographical, and personal variations. Nevertheless, it represents an initial attempt to explore the framing strategies of these startups when raising VC investments.

This study is within the field of financial innovation and entrepreneurship. The thesis’s primary purpose is to investigate how and why entrepreneurs in Sweden are positioning themselves in regarding Initial Coin Offerings as a new financial vehicle based on the Swedish regulations and the underlying factors to the entrepreneur’s point of view. The literature contributes a limited knowledge of the Swedish industry concerning ICOs, and therefore this research aims to enhance awareness. Through qualitative research based on eleven interviews, we conclude there is a general lack of knowledge and risk-aversion from the absence of regulations in Sweden. Furthermore, all interviewed entrepreneurs were open-minded about an ICO with certain limitations. Considering that, on average, an enticing secondary market has existed for the tokens issued by ICOs, and a remarkable amount of money has been left on the table by project promoters, investors seeking for potential profit have hoarded the cryptocurrency space, creating a situation similar to the dot-com bubble. Thus, we also discuss the benefits, drawbacks, and the possible fate regarding ICOs, a new financing method that should not be overlooked.

There are plenty of things said about the financial industry, an always ongoing debate, to say the least. We have identified a complex situation with three dimensions: Initial public offerings, Venture capital, and Lockup agreements. IPOs are generally difficult to put a price on because the market is not united yet, which creates uncertainties. Venture capital firms invest into startups, often with the incentive of bringing them to an IPO and then make a fast cash out exit. Lockup agreements are contracts that prevent insiders from dumping their shares during a set period in the beginning of the IPO. Additionally, based on the market efficiency theory, a market should always be efficient. But does it play out when these characteristics are affecting each other? The purpose of this research was to investigate whether there are abnormal returns in the financial performance for publicly listed companies on the London Stock Exchange at the end of their lockup period. We sorted on venture capital backed companies and sought to explore differences between VC backed, Non-VC backed firms, and the entire market. The research question for this study is: ‘Does The theoretical aspects of this research’s ontological and epistemological views were set in positivism and objectivism with a deductive approach. The financial performance was key in this research, and it was essential to get ample and appropriate data, therefore a quantitative research method was used with an archival research strategy and explanatory research design. We explored a big research gap in this area after the financial crisis 2008, which made us look at IPOs from 2009 to 2012 with an event window as our time horizon. To answer the research question and fulfill our purpose, four hypotheses were developed with focus on VC backed firms, Non-VC backed firms, the entire market, and one shorter event window. Our results prove that the market efficiency theory does not hold. To answer the research question, we found negative abnormal returns after the lockup expiration date for both Non- VC backed firms and the entire market. However, we were unable to provide a statistically significant result for VC backed firms. There was an extra clear trend during the middle 20 days, and we suggest and encourage to further research with a longer time horizon than [- 20, +20] days.