What Drives Venture Capital Fundraising in India: An Empirical Analysis of Systematic and Non-Systematic Factors

In this paper, we develop a consolidated Supply-Demand framework of the Venture Capital (VC) ecosystem for India. Further, we empirically analyze the supply side of this ecosystem to ascertain the influence of systematic (macro) and non-systematic (micro) factors on VC fundraising. At the macro level, our results indicate that relatively strong fundamentals of the Indian economy in the past decade as compared with the severe recessionary tendencies in the developed economies have been critical in determining the aggregate volume of VC fundraising. Among the micro factors, past performance and reputation of the individual fund managers have been instrumental in determining their fund raising potential.

How Does Effectual Logic Impact Survival of High-tech Startups in an Emerging Economy? - Evidence from 99tests.com Case Study

During the early stages of operation, high-tech startups need to overcome the liability of newness and manage high degree of uncertainty. Several high-tech startups fail due to inability to deal with skeptical customers, underdeveloped markets and limited resources in selling an offering that has no precedent. This paper leverages the principles of effectuation (a logic of entrepreneurial decision making under uncertainty) to explain the journey from creation to survival of high-tech startups in an emerging economy. Based on the 99tests.com case study, this paper suggests that early stage high-tech startups in emerging economies can increase their probability of survival by adopting the principles of effectuation.

A smart approach to achieve an exceptionally high loading of metal nanoparticles supported by functionalized extended frameworks for efficient catalysis

The problem associated with metal nanoparticle (NP) agglomeration when trying to achieve a high loading amount has been solved by a new method of functionalization of MOFs' pores with terminal alkyne moieties. The alkynophilicity of the Au3+ ions has been utilized successfully for an exceptionally high loading (similar to 50 wt%) of Au-NPs on supported functionalized MOFs.

Fully developed thermal transport in combined pressure and electroosmotically driven flow of nanofluid in a microchannel under the effect of a magnetic field

This paper critically analyzes, for the first time, the effect of nanofluid on thermally fully developed magnetohydrodynamic flows through microchannel, by considering combined effects of externally applied pressure gradient and electroosmosis. The classical boundary condition of uniform wall heat flux is considered, and the effects of viscous dissipation as well as Joule heating have been taken into account. Closed-form analytical expressions for the pertinent velocity and temperature distributions and the Nusselt number variations are obtained, in order to examine the role of nanofluids in influencing the fully developed thermal transport in electroosmotic microflows under the effect of magnetic field. Fundamental considerations are invoked to ascertain the consequences of particle agglomeration on the thermophysical properties of the nanofluid. The present theoretical formalism addresses the details of the interparticle interaction kinetics in tune with the pertinent variations in the effective particulate dimensions, volume fractions of the nanoparticles, as well as the aggregate structure of the particulate system. It is revealed that the inclusion of nanofluid changes the transport characteristics and system irreversibility to a considerable extent and can have significant consequences in the design of electroosmotically actuated microfluidic systems.

Phenomenology and control of buckling dynamics in multicomponent colloidal droplets

Self-assembly of nano sized particles during natural drying causes agglomeration and shell formation at the surface of micron sized droplets. The shell undergoes sol-gel transition leading to buckling at the weakest point on the surface and produces different types of structures. Manipulation of the buckling rate with inclusion of surfactant (sodium dodecyl sulphate, SDS) and salt (anilinium hydrochloride, AHC) to the nano-sized particle dispersion (nanosilica) is reported here in an acoustically levitated single droplet. Buckling in levitated droplets is a cumulative, complicated function of acoustic streaming, chemistry, agglomeration rate, porosity, radius of curvature, and elastic energy of shell. We put forward our hypothesis on how buckling occurs and can be suppressed during natural drying of the droplets. Global precipitation of aggregates due to slow drying of surfactant-added droplets (no added salts) enhances the rigidity of the shell formed and hence reduces the buckling probability of the shell. On the contrary, adsorption of SDS aggregates on salt ions facilitates the buckling phenomenon with an addition of minute concentration of the aniline salt to the dispersion. Variation in the concentration of the added particles (SDS/AHC) also leads to starkly different morphologies and transient behaviour of buckling (buckling modes like paraboloid, ellipsoid, and buckling rates). Tuning of the buckling rate causes a transition in the final morphology from ring and bowl shapes to cocoon type of structure. (C) 2015 AIP Publishing LLC.

Coupled Mechanisms of Precipitation and Atomization in Burning Nanofluid Fuel Droplets

Understanding the combustion characteristics of fuel droplets laden with energetic nanoparticles (NP) is pivotal for lowering ignition delay, reducing pollutant emissions and increasing the combustion efficiency in next generation combustors. In this study, first we elucidate the feedback coupling between two key interacting mechanisms, namely, secondary atomization and particle agglomeration; that govern the effective mass fraction of NPs within the droplet. Second, we show how the initial NP concentration modulates their relative dominance leading to a masterslave configuration. Secondary atomization of novel nanofuels is a crucial process since it enables an effective transport of dispersed NPs to the flame (a pre-requisite condition for NPs to burn). Contrarily, NP agglomeration at the droplet surface leads to shell formation thereby retaining NPs inside the droplet. In particular, we show that at dense concentrations shell formation (master process) dominates over secondary atomization (slave) while at dilute particle loading it is the high frequency bubble ejections (master) that disrupt shell formation (slave) through its rupture and continuous outflux of NPs. This results in distinct combustion residues at dilute and dense concentrations, thereby providing a method of manufacturing flame synthesized microstructures with distinct morphologies.

Universal buckling kinetics in drying nanoparticle-laden droplets on a hydrophobic substrate

We provide a comprehensive physical description of the vaporization, self-assembly, agglomeration, and buckling kinetics of sessile nanofluid droplets pinned on a hydrophobic substrate. We have deciphered five distinct regimes of the droplet life cycle. Regimes I-III consists of evaporation-induced preferential agglomeration that leads to the formation of a unique dome-shaped inhomogeneous shell with a stratified varying-density liquid core. Regime IV involves capillary-pressure-initiated shell buckling and stress-induced shell rupture. Regime V marks rupture-induced cavity inception and growth. We demonstrate through scaling arguments that the growth of the cavity (which controls the final morphology or structure) can be described by a universal function.

A novel in-situ polymer derived nano ceramic MMC by friction stir processing

Fiction stir processing (FSP) is a solid state technique used for material processing. Tool wear and the agglomeration of ceramic particles have been serious issues in FSP of metal matrix composites. In the present study, FSP has been employed to disperse the nanoscale particles of a polymer-derived silicon carbonitride (SiCN) ceramic phase into copper by an in-situ process. SiCN cross linked polymer particles were incorporated using multi-pass ESP into pure copper to form bulk particulate metal matrix composites. The polymer was then converted into ceramic through an in-situ pyrolysis process and dispersed by ESP. Multi-pass processing was carried out to remove porosity from the samples and also for the uniform dispersion of polymer derived ceramic particles. Microstructural observations were carried out using Field Emission Scanning Electron Microscopy (FE-SEM) and Transmission Electron Microscopy (TEM) of the composite. The results indicate a uniform distribution of similar to 100 nm size particles of the ceramic phase in the copper matrix after ESP. The nanocomposite exhibits a five fold increase in microhardness (260HV(100)) which is attributed to the nano scale dispersion of ceramic particles. A mechanism has been proposed for the fracturing of PDC particles during multi pass FSP. (C) 2015 Elsevier Ltd. All rights reserved

Molecular Cage Impregnated Palladium Nanoparticles: Efficient, Additive-Free Heterogeneous Catalysts for Cyanation of Aryl Halides

Two shape-persistent covalent cages (CC1(r) and CC2(r)) have been devised from triphenyl amine-based trialdehydes and cyclohexane diamine building blocks utilizing the dynamic imine chemistry followed by imine bond reduction. The cage compounds have been characterized by several spectroscopic techniques which suggest that CC1(r) and CC2(r) are 2+3] and 8+12] self-assembled architectures, respectively. These state-of-the-art molecules have a porous interior and stable aromatic backbone with multiple palladium binding sites to engineer the controlled synthesis and stabilization of ultrafine palladium nanoparticles (PdNPs). As-synthesized cage-embedded PdNPs have been characterized by transmission electron microscopy (TEM), scanning electron microscopy (SEM), and powder X-ray diffraction (PXRD). Inductively coupled plasma optical emission spectrometry reveals that Pd@CC1(r) and Pd@CC2(r) have 40 and 25 wt% palladium loading, respectively. On the basis of TEM analysis, it has been estimated that as small as similar to 1.8 nm PdNPs could be stabilized inside the CC1(r), while larger CC2(r) could stabilize similar to 3.7 nm NPs. In contrast, reduction of palladium salts in the absence of the cages form structure less agglomerates. The well-dispersed cage-embedded NPs exhibit efficient catalytic performance in the cyanation of aryl halides under heterogeneous, additive-free condition. Moreover, these materials have excellent stability and recyclability without any agglomeration of PdNPs after several cycles.

Combustion and heat transfer characteristics of nanofluid fuel droplets: A short review

With the pressing need to meet an ever-increasing energy demand, the combustion systems utilizing fossil fuels have been the major contributors to carbon footprint. As the combustion of conventional energy resources continue to produce significant Green House gas (GHG) emissions, there is a strong emphasis to either upgrade or find an energy-efficient eco-friendly alternative to the traditional hydrocarbon fuels. With recent developments in nanotechnology, the ability to manufacture materials with custom tailored properties at nanoscale has led to the discovery of a new class of high energy density fuels containing reactive metallic nanoparticles (NPs). Due to the high reactive interfacial area and enhanced thermal and mass transport properties of nanomaterials, the high heat of formation of these metallic fuels can now be released rapidly, thereby saving on specific fuel consumption and hence reducing GHG emissions. In order to examine the efficacy of nanofuels in energetic formulations, it is imperative to first study their combustion characteristics at the droplet scale that form the fundamental building block for any combustion system utilizing liquid fuel spray. During combustion of such multiphase, multicomponent droplets, the phenomenon of diffusional entrapment of high volatility species leads to its explosive boiling (at the superheat limit) thereby leading to an intense internal pressure build-up. This pressure upsurge causes droplet fragmentation either in form of a microexplosion or droplet puffing followed by atomization (with formation of daughter droplets) featuring disruptive burning. Both these atomization modes represent primary mechanisms for extracting the high oxidation energies of metal NP additives by exposing them to the droplet flame (with daughter droplets acting as carriers of NPs). Atomization also serves as a natural mechanism for uniform distribution and mixing of the base fuel and enhancing burning rates (due to increase in specific surface area through formation of smaller daughter droplets). However, the efficiency of atomization depends on the thermo-physical properties of the base fuel, NP concentration and type. For instance, at dense loading NP agglomeration may lead to shell formation which would sustain the pressure upsurge and hence suppress atomization thereby reducing droplet gasification rate. Contrarily, the NPs may act as nucleation sites and aid boiling and the radiation absorption by NPs (from the flame) may lead to enhanced burning rates. Thus, nanoadditives may have opposing effects on the burning rate depending on the relative dominance of processes occurring at the droplet scale. The fundamental idea in this study is to: First, review different thermo-physical processes that occur globally at the droplet and sub-droplet scale such as surface regression, shell formation due to NP agglomeration, internal boiling, atomization/NP transport to flame zone and flame acoustic interaction that occur at the droplet scale and second, understand how their interaction changes as a function of droplet size, NP type, NP concentration and the type of base fuel. This understanding is crucial for obtaining phenomenological insights on the combustion behavior of novel nanofluid fuels that show great promise for becoming the next-generation fuels. (C) 2016 Elsevier Ltd. All rights reserved.

High Loading of Pd Nanoparticles by Interior Functionalization of MOFs for Heterogeneous Catalysis

In this report, the issue related to nanoparticle (NP) agglomeration upon increasing their loading amount into metal-organic frameworks (MOFs) has been addressed by functionalization of MOFs with alkyne groups. The alkynophilicity of the Pd2+ (or other noble metals) ions has been utilized successfully for significant loading of Pd NPs into alkyne functionalized MOFs. It has been shown here that the size and loading amount of Pd NPs are highly dependent on the surface area and pore width of the MOFs. The loading amount of Pd NPs was increased monotonically without altering their size distribution on a particular MOF. Importantly, the distinct role of alkyne groups for Pe(2+) stabilization has also been demonstrated by performing a control experiment considering a MOF without an alkyne moiety. The preparation of NPs involved two distinct steps viz. adsorption of metal ions inside MOFs and reduction of metal ions. Both of these steps were monitored by microscopic techniques. This report also demonstrates the applicability of Pd@MOF NPs as extremely efficient heterogeneous catalysts for Heck-coupling and hydrogenation reactions of aryl bromides or iodides and alkenes, respectively.

Modulation of Buckling Dynamics in Nanoparticle Laden Droplets Using External Heating

Dynamics of contact free (levitated) drying of nanofluid droplets is ubiquitous in many application domains ranging from spray drying to pharmaceutics. Controlling the final morphology (macro to micro scales) of the dried out sample poses some serious challenges. Evaporation of solvent and agglomeration of particles leads to porous shell formation in acoustically levitated nanosilica droplets. The capillary pressure due to evaporation across the menisci at the nanoscale pores causes buckling of the shell which leads to ring and bowl shaped final structures. Acoustics plays a crucial role in flattening of droplets which is a prerequisite for initiation of buckling in the shell: Introduction of mixed nanocolloids (sodium dodecyl sulfate + nanosilica) reduces evaporation rate, disrupts formation of porous shell, and enhances mechanical strength of the shell, all of which restricts the process of buckling. Although buckling is completely arrested in such surfactant added droplets, controlled external heating using laser enhances evaporation through the pores in the shell due to thermally induced structural changes and rearrangement of SDS aggregates which reinitializes buckling in such droplets, Furthermore, inclusion of anilinium hydrochloride into the nanoparticle laden droplets produces ions which adsorb and modify the morphology of sodium dodecyl sulfate crystals and reinitializes buckling in the shell (irrespective of external heating conditions). The kinetics of buckling is determined by the combined effect of morphology of the colloidal particles, particle/aggregate diffusion rate within the droplet, and the rate of evaporation of water. The buckling dynamics leads to cavity formation which grows subsequently to yield final structures with drastically different morphological features. The cavity growth is controlled by evaporation through the nanoscate pores and exhibits a universal trend irrespective of heating rate and nanoparticle type.