The importance of informal investing to New Zealand\u27s new and growing firms

As part of the Global Entrepreneurship Monitor project, we asked 2,000 adult New Zealanders if they have made a personal investment in a new firm in the past three years as well as the magnitude of their supPort, the nature of the businesses they sponsored, and their relationship withthe recipient. We compared these data on informal investment to data on venture capital obtained from national sources. We are thus able to compare New Zealand\u27s performance to cross-national measures. We also surveyed 20 key informants/experts on questions on financing.In New Zealand, venture capital accounts for only 0.80/o of total investment in new and growing start-ups. Yet New Zealand is world-ranked in terms of informal investment. In New Zealand, informal investment activity is 3.5olo of the national GDP amount. New Zealand is also a world leader in the prevalence of informal investors (percentage in the adult population). Seventy-three percent of informal investors put their money into a relative\u27s or a friend\u27s business. Fifty-eight Percent of New Zealand\u27s informal investors are female, quite the reverse of the world pattern.When we compare Australia and New Zealandlo the rest of the GEM world, Australia ranks favourably with the GEM globat measures in terms of venture capital as a percentage of GDp, while New Zealand does poorly. Australia also does about 40olo better than New Zealand in termsof the amount of VC invested in individual companies. But New Zealand is clearly higher in the measures of informal investment. We conclude with implications for entrepreneurs, policy makers, educators, researchers, and journalists. In a nutshell, they should pay more attention to the critical role of the four F\u27s - family friends, founders, and &quot;foolish&quot; investors - in start-up ventures. Informal investment is a critical component of New Zealand\u27s entrepreneurial process and thus to its economic growth. Perhaps fifty superstars with extraordinary opportunities will receive financing from the New Zealand Venture Investment Fund to launch their businesses. Meanwhile, the vast majority of firms rely on the 4Fs - friends, family founders, and &quot;foolish&quot; lnvestors.<br /

Productivity of Florida Springs: first semi-annual report to Biology Division, Office of Naval Research, progress from June 1, 1952 to January 31, 1953

Work has begun on studying the factors responsible for productivity in the Florida springs, which are nearly constant temperature, constant chemical, steady state giant laboratories. Progress has been made on five aspects: qualitative description, quantitative description, completion of knowledge of chemical factors, measurement of productivity , development of productivity theory. Measurement of the primary productivity in Silver Springs and Green Cove Springs by two new methods: the raising of organisms in cages, and the measurement of night & day differences in oxygen downstream agree roughly. Production in these springs is greater than previous production figures reported for marine, fresh water, and land areas. Instantaneous measures of production show large variations with season, time of day, cloud cover. Production estimates range from 11,000 lbs per acre per year to 70,000 lbs. glucose per acre per year during daylight hours. Essential stability of the springs environment has been shown with respect to temperature, phosphorus, and plant cover. A correlation of species number with lack of stability has been shown with insects. Quantitative studies have shown very large plant base to pyramids of mass. Correlation of marine invasion with chlorinity has been shown. The essential aspects of pH regulated phosphorus geochemistry in Florida have been outlined. Some theoretical ideas on productivity have been evolved. Mapping of sessile organisms in springs and taxonomic identification of dominants are half completed. Plans for second six months include measurement of herbivore and carnivore production rates and completion of food chain efficiency determinations in Silver Springs as a preparation for subsequent comparisons between springs. (34pp.

Low-Dose Continuous 5-Fluorouracil Combined with Leucovorin, nab-Paclitaxel, Oxaliplatin, and Bevacizumab for Patients with Advanced Pancreatic Cancer: A Retrospective Analysis.

BackgroundContinuous-infusion 5-fluorouracil (5FU) and calcium leucovorin plus nab-paclitaxel and oxaliplatin have been shown to be active in patients with pancreatic cancer. As a protracted low-dose infusion, 5FU is antiangiogenic, and has synergy with bevacizumab. As shown in the treatment of breast cancer, bevacizumab and nab-paclitaxel are also synergetic.ObjectiveIn this paper we retrospectively analyze the survival of 65 patients with advanced pancreatic cancer who were treated with low-dose continuous (metronomic) chemotherapy given in conjunction with conventional anti-VEGF therapy.Patients and methodsSince July of 2008, we have treated 65 patients with 5FU (180 mg/m2/day × 14 days) via an ambulatory pump. Calcium leucovorin (20 mg/m2 IV), nab-paclitaxel (60 mg/m2) IV as a 30-min infusion, and oxaliplatin (50 mg/m2) IV as a 60-min infusion were given on days 1, 8, and 15. Bevacizumab (5 mg/kg) IV over 30 min was administered on days 1 and 15. Cycles were repeated every 28-35 days. There were 42 women and 23 men, and the median age was 59 years. Forty-six patients had stage IV disease.ResultsThe median survival was 19 months, with 82% of patients surviving 12 months or longer. The overall response rate was 49%. There were 28 patients who had received prior treatment, 15 of whom responded to therapy. Fifty-two patients had elevated CA 19-9 prior to treatment. Of these, 21 patients had 90% or greater reduction in CA 19-9 levels. This cohort had an objective response rate of 71% and a median survival of 27 months. Thirty patients stopped treatment due to disease progression, and an additional 22 stopped because of toxicity. One patient died while on therapy.ConclusionsThis non-gemcitabine-based regimen resulted in higher response rates and better survival than what is commonly observed with therapy given at conventional dosing schedules. Low-dose continuous (metronomic therapy) cytotoxic chemotherapy combined with antiangiogenic therapy is safe and effective

Missouri woods and wood-using industries

Cover title

State of Metropolitan America: On the Front Lines of Demographic Transformation

Examines 2000-09 demographic and economic trends and highlights five new realities: growth and outward expansion, population diversification, aging, uneven higher educational attainment, and income polarization. Analyzes national and regional challenges

Investigation of the Liquid Fluorine-liquid Diborane Propellant Combination in a 100-pound-thrust Rocket Engine

The experimental performance of liquid fluorine and liquid diborane was investigated in a 100-pound-thrust engine at a combustion pressure of 300 pounds per square inch absolute. Methods of handling and transporting liquid fluorine were developed. It was extremely difficult to obtain satisfactory operation because of the high flame speed and high combustion chamber temperatures. The maximum performance obtained was 280 pound seconds per pound, 88 percent of the theoretical maximum. The theoretical performance was recalculated with revised thermodynamic data, indicating a maximum specific impulse of 311 pound seconds per pound as compared with the previously reported value of 323