Blockchain and other innovations in entrepreneurial finance: implications for future policy

More than a decade after the Global Financial Crisis (GFC) of 2007–08, entrepreneurial finance has exhibited enormous changes, notably in the rise of alternative nonbank financing. This has been most acutely experienced in the provision and delivery of early stage and innovative business finance—the focus of this special issue. The ensuing innovations in entrepreneurial finance have taken place in developed and developing economies, presenting considerable challenges to policymakers. This editorial paper reviews the special issue articles on this subject and their implications for future research, practice and policy

Emerging trends in government venture capital policies in smaller peripheral economies: lessons from Finland, New Zealand, and Estonia

Emerging trends from the developing venture capital industries of three smaller peripheral economies (Finland, New Zealand, and Estonia), demonstrate that government policy can overcome scale and distance barriers to assist in establishing venture capital to support innovative potential high growth ventures. Eight common policy themes for successful venture capital development are: new venture stimulation; dedicated finance policy institutions; stable, internationally harmonized tax and regulations; business angel development; inward investment; international venture capital fund development; smooth pipeline of investment; effective investment exit market. Venture capital policy development themes are interconnected, requiring a holistic ecosystem approach. A blueprint for successful small peripheral economy venture capital development requires an initial phase of new venture demand stimulation and ensuing simultaneity of policies to engineer venture capital development

Photoperiod-induced increases in bone mineral apposition rate in Siberian hamsters and the involvement of seasonal leptin changes

The adipokine leptin regulates energy balance, appetite, and reproductive maturation. Leptin also acts on bone growth and remodeling, but both osteogenic and anti-osteogenic effects have been reported depending on experimental conditions. Siberian hamsters (Phodopus sungorus) have natural variation in circulating leptin concentrations, where serum leptin is significantly decreased during the short day (SD)-induced winter state. In summer long day (LD) photoperiods, appetite and body adiposity increase with associated central leptin insensitivity. This natural change in leptin secretion was exploited to investigate leptin’s effect on bone growth. Hamsters were injected with calcium-chelating fluorescent dyes to measure bone mineral apposition rate (MAR). Measurements were initially obtained from 5-week and 6-month-old animals maintained in low leptin (SD) or high leptin (LD) states. A further study investigated effects of chronic administration of recombinant mouse leptin to hamsters housed in SD and LD conditions; growth plate thickness and bone density were also assessed. As expected, a reduction in body mass was seen in hamsters exposed to SD, confirming the phenotype change in all studies. Serum leptin concentrations were significantly reduced in SD animals in all studies. MAR was reproducibly and significantly increased in the femurs of SD animals in all studies. Vitamin D and growth plate thickness were significantly increased in SD animals at 6 months. No effect on bone density was observed in any study. Taken together these data suggest that bone growth is associated with the low leptin, winter, lean state. In leptin-treated animals, there was a significant interaction effect of leptin and photoperiod. In comparison to their vehicle counterparts, SD animals had decreased and LD animals had increased MAR, which was not apparent prior to leptin administration. In conclusion, increased MAR was associated with low serum leptin levels in early life and sustained over 6 months, implying that leptin has a negative effect on bone growth in this model. The unexpected finding that MAR increased after peripheral leptin administration in LD suggests that leptin exerts different effects on bone growth dependent on initial leptin status. This adds further weight to the hypothesis that leptin-treated LD animals display central leptin resistance

Enabling investment for the transition to a low carbon economy: government policy to finance early stage green innovation

Rapid transformation to meet the Paris 1.5oC climate target requires greater attention to be given to the role of innovative low carbon early stage businesses and the public sector’s role in addressing finance gaps for longer horizon investment requirements. As entrepreneurs require different forms of finance as their businesses grow and move up the ‘finance escalator’, we explore the role of public sector support for grant, equity, debt and new forms of crowd funding finance. These funds can enable individual sustainability focussed businesses to access finance and encourage finance into new areas through having a demonstration effect. We conclude that a finance ecosystem approach is required that ensures complementary forms of finance for low carbon investment are connected at local, national and international scales, alongside support to build entrepreneurial skills and investment readiness. There is also a need for better evidence of the role of public sector support and where there is greatest impact on climate change

Financing new creative enterprise through Blockchain technology: opportunities and policy implications

Blockchain technology represents an emerging source of venture capital crowdfunding for creative ventures, specifically in the music industry

Diversity and abundance of solitary and primitively eusocial bees in an urban centre: a case study from Northampton (England)

The apparent reduction of solitary and primitively eusocial bees populations has remained a huge concern over the past few decades and urbanisation is considered as one of the factors affecting bees at different scales depending on bee guild. As urbanisation is increasing globally it necessitates more research to understand the complex community dynamics of solitary and primitively eusocial bees in urban settings. We investigated the urban core of a British town for diversity and abundance of solitary bees using standardized methods, and compared the results with nearby meadows and nature reserves. The study recorded 48 species within the town, about 22 % of the total species and 58 % of the genera of solitary bees in the United Kingdom. Furthermore we found the urban core to be more diverse and abundant in solitary and primitively eusocial bees compared to the meadows and nature re-serves. Of particular note was an urban record of the nationally rare Red Data Book species Coelioxys quadridentata and its host Anthophora quadrimaculata. This research demonstrates that urban settings can contribute significantly to the conservation of solitary and primitively eusocial bees in Britain

A RhoA-FRET Biosensor Mouse for Intravital Imaging in Normal Tissue Homeostasis and Disease Contexts.

The small GTPase RhoA is involved in a variety of fundamental processes in normal tissue. Spatiotemporal control of RhoA is thought to govern mechanosensing, growth, and motility of cells, while its deregulation is associated with disease development. Here, we describe the generation of a RhoA-fluorescence resonance energy transfer (FRET) biosensor mouse and its utility for monitoring real-time activity of RhoA in a variety of native tissues in vivo. We assess changes in RhoA activity during mechanosensing of osteocytes within the bone and during neutrophil migration. We also demonstrate spatiotemporal order of RhoA activity within crypt cells of the small intestine and during different stages of mammary gestation. Subsequently, we reveal co-option of RhoA activity in both invasive breast and pancreatic cancers, and we assess drug targeting in these disease settings, illustrating the potential for utilizing this mouse to study RhoA activity in vivo in real time