A High Tech Start-up’s Journey Towards Funding

1.1 Masters background As part of the “Masters in Advanced Technology Programme” each student had to select a high-tech start-up that they wanted to be involved in throughout the year. Each individual would bring value to the start up through their background and experience. The start-up I selected was an interactive robotic toy called “Auti”. Project champion, Helen’s envisioned goal was for the toy to help children with autism learn positive behaviours. Our team consisted of two main individuals not including the product champion (Please refer to Appendix A to learn more about the team, team dynamics etc.). My individual responsibility in terms of contribution to the team was to establish a strategic business plan, including a growth strategy for the project. Gaining funding is a critical part of any start-up’s growth (Ministry of Economic Development, 2007). Financial planning forces companies to think about their goals. A common goal most companies have is the goal to grow (Ross et al., 2002). 1.2 Objectives The objective of this study was to identify the best suited funding sources, which I could then recommend “Auti” implement in order to help the company become a feasible, sustainable business. In order to make the most appropriate recommendations, I had to become financially literate. A study done in Canada found that weak financial literacy may be one of the biggest reasons start-up businesses do not succeed (Intuit, 2013). 1.3 Research questions My thesis looks to answer three specific questions. Questions one and two are specific to my individual research conducted into the angel investment industry in New Zealand. 1) How do angel investors in New Zealand view the angel investment industry in New Zealand? 2) What do angel investors expect high-tech start-ups to have in place before they would consider investing? Thesis question three is related to the main theory of the thesis. 3) How relevant is the “pecking order capital structure” theory to high-tech start-up companies in New Zealand? 1.4 Contribution This thesis contributes to practice as well as theory. My interviews with angel investors are “practice led”, meaning that the research led to a new understanding about practice (Edmonds et al., 2006). In terms of my own research, a new understanding was formed on angel investment in New Zealand in 2014. Specifically, a common list of things angels throughout New Zealand look for in “high-tech” start-ups, before they would consider investing, was identified. The main theory within this thesis is to do with the “pecking order capital structure”, in relation to high-tech start-ups, therefore contributing to research done around the pecking order theory. 1.5 Thesis layout This thesis is a reflection of the two facets of research that I conducted. The two approaches used were action-based research and in-depth Interviews. Action-based research aims to contribute both to the practical concerns of people in an immediate problematic situation and to further the goals of social science at the same time (Gilmore et al., 1986). Action-based research, as mentioned in this thesis, looks into the process that was taken to find the best suited funding sources for our start-up, “Auti”. An in-depth interview was conducted with angel investors in New Zealand to get a better understanding of angel investment in New Zealand. Specific focus is put on “angel investment” in New Zealand as this is the preferred choice of start-up capital for “Auti”. The thesis begins with a literature evaluation. The first section will evaluate funding source literature that influenced us to select angel investment funding as something we wanted to get a better understanding of. Further angel investment literature will be evaluated, including the gap in literature that my individual research into angel investment fills. Research question three looks to see if our start-up, “Auti”’s capital structure follows the “pecking order capital structure”, therefore there will also be a section within the literature review chapter that will include my main findings on past research, which has been conducted around the world, looking into if high-tech start-ups, such as “Auti”, follow the “pecking order capital structure”. The definition of high-tech firms, also known as new technology based firms, is not clear, its application differs significantly depending on time, space, and authors (Laranja &Fontes, 1998; Fontes & Coombs, 2001). One way it has been defined by Little (1977) is “independent owned business established for not more than twenty-five years and based on the exploitation of an invention or technological innovation implying substantial technological risks”. Following the literature review chapter, my research methodology is described, specifically with regards to my individual research into angel investment in New Zealand, explaining what I did, why, and problems that I faced. The thesis then follows with main findings from my individual qualitative research into the angel investment industry in New Zealand. The thesis conclusion will have six main sections. Sections will cover whether or not my research supports the literature, what my research contributions are, and an implementation section (recommending start-up funding implications for “Auti”). As my individual research looked into the angel investment industry in New Zealand, a majority of the implementation will be specific to what the “Auti” team should do in respect to approaching angel investment in order to have a higher chance of gaining investment. My recommended start-up funding implications will then be compared to the pecking order capital structure to show that it follows that structure. A section will also look into the limitations that my research faced. The last section will be recommendations in terms of further research needed to be conducted in order to support my research conclusions

Testing Responsive Web Pages Using the Consistency of Automated Web Pages

The introduction of mobile devices with smaller screens motivates the need for web pages that work correctly across many different devices—referred to as responsive web design. Mobile access is a key feature for companies: both to reach new customers, and also to provide an enhanced service to existing customers. Testing the correct appearance of a responsive web page on different devices is not a trivial task because there are no standard rules for responsiveness, and the layout may need to be significantly rearranged in order to fit on smaller screens. This dissertation describes an investigation into the automated test case generation for responsive web pages. The aim of the project is to develop a novel approach to test responsive web pages for the consistency of their appearance. This thesis develops the idea of consistent web pages which are not identical but provide essentially the same interface to the user. The goal of this project is to develop approach on how to do automated test case generation of the appearance of responsive web page and to evaluate this approach by building a test tool that automate the testing of consistency of responsive web pages against the master copy of the page. Several rules were implemented for comparing web pages displayed on different screens. The results show that the approach taken is an effective way of automating testing for consistency. This dissertation also identifies a number of unanswered research issues to be addressed by future work

Testing Responsive Web Pages Using the Consistency of Automated Web Pages

The introduction of mobile devices with smaller screens motivates the need for web pages that work correctly across many different devices—referred to as responsive web design. Mobile access is a key feature for companies: both to reach new customers, and also to provide an enhanced service to existing customers. Testing the correct appearance of a responsive web page on different devices is not a trivial task because there are no standard rules for responsiveness, and the layout may need to be significantly rearranged in order to fit on smaller screens. This dissertation describes an investigation into the automated test case generation for responsive web pages. The aim of the project is to develop a novel approach to test responsive web pages for the consistency of their appearance. This thesis develops the idea of consistent web pages which are not identical but provide essentially the same interface to the user. The goal of this project is to develop approach on how to do automated test case generation of the appearance of responsive web page and to evaluate this approach by building a test tool that automate the testing of consistency of responsive web pages against the master copy of the page. Several rules were implemented for comparing web pages displayed on different screens. The results show that the approach taken is an effective way of automating testing for consistency. This dissertation also identifies a number of unanswered research issues to be addressed by future work

Microscopic theory of photonic band gaps in optical lattices

We propose a microscopic model to describe the scattering of light by atoms in optical lattices. The model is shown to efficiently capture Bragg scattering, spontaneous emission and photonic band gaps. A connection to the transfer matrix formalism is established in the limit of a one-dimensional optical lattice, and we find the two theories to yield results in good agreement. The advantage of the microscopic model is, however, that it suits better for studies of finite-size and disorder effects.Comment: 5 pages, 6 figure

Cluster-based redox activity in Endohedral Metallofullerenes:: Electrochemical and EPR studies

Endohedral fullerenes are closed carbon shells encapsulating molecular or ionic species in their inner space. Obtained for the first time in 1985, endohedral metallofullerenes (EMFs) remain in focus of research for many years with a broad variety of metal atoms, endohedral cluster and cage sizes being reported. Electrochemical studies of endohedral metallofullerenes are of particular interest because of the more complex redox behavior in comparison to empty fullerenes. The EMF molecules can be considered as a combinations of positively charged cluster and negatively charged carbon shell “ligand”, and both constituents can be redox active. A cage-based electrochemical activity is more common, in particular, the most abundant nitride clusterfullerenes generally have redox-active cages. Cluster-based electrochemical activity is less common and can be revealed via unexpected redox behavior (e.g., shifted potential when compared to analogous molecules, potential metal dependence) and with the use of spectroscopic methods. Here we report electrochemical and EPR studies of three EMF families: (i) M2@C82-C3v and M2@C82-Cs dimetallofullerenes with a covalent bonding between two metal atoms, (ii) M2@C80(CH2Ph) dimetallofullerene derivatives with single-occupied metal-bonding orbital, and (iii) M2TiC@C80 EMFs with endohedral Ti(IV) (M is either Sc or Y or a lanthanide). For the first two families, the metal-metal bonding orbital has been found to be redox active: in M2@C82, the double-occupied M-M bonding orbital is involved in the first oxidation process, while in M2@C80(CH2Ph) the unoccupied component of single-occupied metal-bonding orbital acts as the LUMO, accepting one electron during the first reduction step. Thus, single electron transfer reactions in both cases lead to the changes in the magnetic properties of EMFs, which is especially well revealed by EPR spectroscopy. For the series of M2TiC@C80 EMFs, the first reduction predominantly occurs on internal Ti atom and can be described as TiIV/TiIII redox process. Due to the variation of the size of the Ti ion in different oxidation states, reduction changes the inner strain of the cluster, leading to a large variability of the TiIV/TiIII reduction potential in dependence on the size of the formally inert lanthanide metal in M2TiC@C80

Influence of Cultural Resources of Mothers over Parenting Values in Russian Families

AbstractThe purpose of the study is a comparative analysis of the complex of economic, cultural and psychological resources of mothers of three groups focused on different values in child rearing (obedience “O”, curiosity “C”, sociability “S”). The study involved 500 mothers selected basing on the criterion of self-identification of their economic status (low and medium), under the age of 45, with children aged from 1.5 to 3 years old. The analysis of the results showed that a quarter of mothers (24.2%) choose obedience as the dominant value of family education. Mothers from group focused on the value of “C”, account for almost half of the sample (47.0%). A third of the respondents are aimed at instilling sociability in children (28.8%). There is a certain impact that disparity in supply of mothers with various resources has on cultivating in children values contributing to a successful adaptation. Mothers instilling in children curiosity and sociability have richer cultural resources. They are also characterized by a more positive self-perception. Resulting differences are explained by both objective factors characteristic for women from the group focused on instilling obedience - a lower level of education, qualifications, financial situation, small social experience, less intensive cultural practices, and by subjective characteristics - a lower self-esteem, self-doubt, insufficient personal maturity. The experience of relationships of mothers with their own parents is further employed in the process of upbringing of children. The paper suggests directions of correction of social and cultural attitudes and strategies of child-rearing

The digitalization features of the Russian social media market insurance service

Purpose: The article aims to identify the features of digital techniques introduction and functioning in the insurance industry and the social insurance system. The information techniques used allows to quickly and with the best results to process large amounts of data, thereby increasing the efficiency of all the spheres to reduce social and commercial risks. Design/Methodology/Approach: In order to substantiate introducing the digital techniques expediency in the activity of the insurance system, it is necessary, first, to consider the advantages and disadvantages of information techniques use in the commercial and social insurance. Second, to describe the main digital programs, the implementation of which will increase the targeting and personalization of insurance services. Findings: For the digital techniques introduction in the sphere of insurance relations it is necessary to form the wholly new structure of insurance assets that meet the priorities of the digital economy; to create the necessary conditions for the development and implementation of modern actuarial techniques; to create conditions for increasing incomes and the life standard of the population in order to stimulate demand for insurance services; to change the structure and quality of social services. Practical implications: The results of the study can be implemented in the practice of social funds and insurance companies in order to improve the quality of insurance services. Originality/value: The main contribution of this research is to transfer the processes and mechanisms for the global digital economy and global digital space formation to the social and insurance relations.peer-reviewe

The Authoritarian Syndrome in Attitudes and Educational Practices of Russian Parents

AbstractIn the structure of indicators of authoritarianism, a central position is occupied by rigidity of educational attitudes as a manifestation of the syndrome of authoritarian aggression. This article addresses educational attitudes of mothers, as well as their idea of the role of a father in families with varied economic resources. The study involved 500 mothers, selected basing on the criterion of self-identification of their economic status (low and medium), under the age of 45, with children aged from 1.5 to 3 years old. Educational attitudes were estimated on the basis of views characterizing typical principals of upbringing of children in everyday family life. This study highlighted that authoritarian attitudes are characteristic of low resource families, rather than of families with medium resources. A similar tendency can be traced in mothers’ perception of fathers in these families: as more authoritarian and more democratic, sensitive, partner-oriented in communication with their children, respectively. This work suggests the directions in correction of authoritarian educational attitudes

Synchronization of Bloch oscillations by a ring cavity

We consider Bloch oscillations of ultracold atoms stored in a one-dimensional vertical optical lattice and simultaneously interacting with a unidirectionally pumped optical ring cavity whose vertical arm is collinear with the optical lattice. We find that the feedback provided by the cavity field on the atomic motion synchronizes Bloch oscillations via a mode-locking mechanism, steering the atoms to the lowest Bloch band. It also stabilizes Bloch oscillations against noise, and even suppresses dephasing due to atom-atom interactions. Furthermore, it generates periodic bursts of light emitted into the counter-propagating cavity mode, providing a non-destructive monitor of the atomic dynamics. All these features may be crucial for future improvements of the design of atomic gravimeters based on recording Bloch oscillations.Comment: 14 pages, 7 figure