Estrutura de financiamento das empresas start-up

Atualmente, o contexto de atuação das empresas tem sido cada vez mais desafiante dado o binómio de competitividade e crise financeira. Desta forma, a exploração de novas soluções e identificação de lacunas ou desequilíbrios no mercado torna-se imperial para o desenvolvimento das novas entidades. É com base nesta premissa que emerge o conceito de Start-Up, sendo o seu propósito o desenvolvimento de novos produtos e modelos de negócios inovadores. Como resultado, estas empresas tornam-se num elemento revitalizador do tecido económico dos países em que estão inseridas. De forma a possibilitar a potenciação das atividades desenvolvidas por estas entidades é crucial a identificação das diversas fontes de recursos financeiros e as consequentes contrapartidas exigidas. No entanto, dado o seu caráter inovador obviamente que vários são os riscos lhes estão associados, pelo que estas empresas deparam-se com mais dificuldades no momento de acesso aos recursos financeiros que pretendem. Desta forma, a presente dissertação analisa as tendências de financiamento das Start-Up tendo como motivação o facto desta temática ainda não se encontrar devidamente explorada e dado o desconhecimento desta realidade em Portugal. Neste sentido, e aliando a problemática existente com a motivação para a concretização da presente dissertação foram realizados um conjunto de inquéritos os quais foram aliados com o desenvolvimento de modelos empíricos multivariados aplicados aos dados seccionais e em painel. Os resultados alcançados com a investigação empírica permitiram concluir a influência de um conjunto de variáveis bem como justificar a orientação e estrutura de financiamento das Start-Up portuguesas. Das variáveis investigadas de ressalvar a influência significativa da Dimensão da Empresa, Estrutura de Ativos e Forma Legal no financiamento das Start-Up nacionais.

Reinforcement Learning Solution for Unit Commitment Problem Considering Minimum Start Up and Shut Down Times

Unit Commitment Problem (UCP) in power system refers to the problem of determining the on/ off status of generating units that minimize the operating cost during a given time horizon. Since various system and generation constraints are to be satisfied while finding the optimum schedule, UCP turns to be a constrained optimization problem in power system scheduling. Numerical solutions developed are limited for small systems and heuristic methodologies find difficulty in handling stochastic cost functions associated with practical systems. This paper models Unit Commitment as a multi stage decision making task and an efficient Reinforcement Learning solution is formulated considering minimum up time /down time constraints. The correctness and efficiency of the developed solutions are verified for standard test systems

Software Engineering Team Project 2016-2017: Introduction and Start Up

Software Engineering Team project introductory lecture and project start up for 2014-2015. it covers team working, infrastructure tools, and an outline of the agile methods, practices and principles that will be used.

Start-up rheometry of highly polydisperse magnetorheological fluids: experiments and simulations

An extensive experimental and simulation study is carried out in conventional magnetorheological fluids formulated by dispersion of mixtures of carbonyl iron particles having different sizes in Newtonian carriers. Apparent yield stress data are reported for a wide range of polydispersity indexes (PDI) from PDI = 1.63 to PDI = 3.31, which for a log-normal distribution corresponds to the standard deviation ranging from to . These results demonstrate that the effect of polydispersity is negligible in this range in spite of exhibiting very different microstructures. Experimental data in the magnetic saturation regime are in quantitative good agreement with particle-level simulations under the assumption of dipolar magnetostatic forces. The insensitivity of the yield stresses to the polydispersity can be understood from the interplay between the particle cluster size distribution and the packing density of particles inside the clusters.

Emissions Characterisation of residential pellet boilers during start-up and stop periods

In this study, gaseous emissions and particles are measured during start-up and stop periods for an over-fed boiler and an under-fed boiler. Both gaseous and particulate matter emissions are continuously measured in the laboratory. The measurement of gaseous emissions includes oxygen (O2), carbon dioxide (CO2), carbon monoxide (CO), nitrogen oxide and (NO). The emissions rates are calculated from measured emissions concentrations and flue gas flow. The behaviours of the boilers during start-up and stop periods are analysed and the emissions are characterised in terms of CO, NO, TOC and particles (PM2.5 mass and number). The duration of the characterised periods vary between two boilers due to the difference in type of ignition and combustion control. The under-fed boiler B produces higher emissions during start-up periods than the over-fed boiler A. More hydrocarbon and particles are emitted by the under-fed boiler during stop periods. Accumulated mass of CO and TOC during start-up and stop periods contribute a major portion of the total mass emitted during whole operation. However, accumulated mass of NO and PM during start-up and stop periods are not significant as the duration of emission peak is relatively short.

The market strategies alternatives of an e-business start-up in Brazil

The e-business market is one of the fastest growing markets in Brazil, with e-business sales accounting for BRL 14.8 billion in 2010 and a growth of 40% per year (+1000% over the past 7 years). Sales-event clubs and collective bargaining websites are one of the most dynamic segments of the e-business market: the number of new players is increasing rapidly, with over 1200 collective bargaining websites currently operating in Brazil. In that context, growth and differentiation seem to be two key success factors for Coquelux. According to webshopper (23rd Edition, e-bit), growth can be achieved by targeting middle and low-income consumers from class C, who represent 50% of the total e-commerce sales. But Coquelux, which is specialized in desire and luxury brands, has built its reputation and competitive advantage through its “exclusivity”, by targeting wealthier consumers from classes A and B who are attracted by its fashionable and high-end positioning. The evolution (growth?) of this market and the development of its competition naturally raise a strategic question for Coquelux’s managers: can Coquelux grow and still maintain its competitive advantage? Should it grow by expanding its consumer base to class C? If so, how? Consumers from classes A, B or C must be targeted through the same online communication channels. Recent studies from the ABEP/ABIPEME emphasized the importance of social networks as a tool for converting new clients and gaining their loyalty, regardless of their social class. However, high-income and low-income e-consumers do not have the same consumption habits, do not respond to the same type of marketing strategies, and most importantly, do not share the same values. Thus, it seems difficult to expand Coquelux’s consumer base to class C without changing its marketing strategies and altering its image Three options were identified for Coquelux: reinforcing its leadership on the luxury segment and focusing on a small niche market (1), which would threaten its survival in the long run; completely changing its strategy and competing for a mass market through commercial brands (2), which requires major financial investments that managers don’t have access to; or finding an intermediary solution (3). This thesis’ recommendation for the third option consists in focusing on premium brands (rather than luxury) in order to increase sales volume (Coquelux’s most profitable sales happened with local desire brands) with products that appeal to class B but also attract the emerging class C which is looking for brand recognition. It could thus implement a slow entry strategy towards the mass market without damaging its main competitive advantage.

Start-up acquisition: motivations, difficulties and lesson learned

Em um esforço continuo de sobrevivência, corporações buscam meios para expandir seus negócios, seja dentro de seus mercados atuantes, ou na exploração de novos mercados. Para alcançar esse objetivo, inovações são realizadas pelos funcionários que, por meio de suas iniciativas, praticam o empreendedorismo coorporativo. São diversas formas em que o empreendedorismo corporativo se manifesta, dentre elas por meio de aquisições. Ao comprar uma outra empresa, a empresa compradora tem como motivação a busca de alguns atributos que complementem seus objetivos iniciais. Após a compra, o processo de integração entre as duas empresas é, por muitas vezes, complicado e penoso. O objetivo desse estudo é o de identificar quais são essas motivações de compra, os problemas enfrentados durante a integração entre as duas empresas, e quais são as lições aprendidas por grandes/médias corporações quando adquirem Start-ups. Muitos estudos atualmente tratam de temas relacionados à aquisição de empresas, porém, quando se trata de Start-ups, pouca literatura é encontrada. Os resultados dessa pesquisa são fruto de entrevistas com os gestores e empreendedores que participaram do processo de aquisição da SAMURAI pela Momentum e da Save-me pela Buscapé – empresas brasileiras. Os resultados são seis sugestões que devem ser consideradas por grandes/medias corporações antes e durante o processo de aquisição de uma strat-up: (i) A base de clientes da empresa comprada deve ser cuidadosamente considerada; (ii) um contato muito próximo entre os gestores das duas empresas é crucial antes da realização da aquisição; (iii) a contratação de uma empresa de consultoria em aquisições pode ser primordial durante o processo de integração; (iv) o empreendedor tem um papel de central importância para o future da nova empresa formada após a aquisição; (v) a forma como a integração entre as duas empresas ocorrerá após a compra deve ser cuidadosamente escolhida e (iv) a criação de uma corporate venture deve ser levada em consideração.

Business Plan, financial and risk analysis from the start-up mathrix

Mathrix is an e-learning math website that will be launched in March 2016. This master thesis offered a unique chance to interact with experienced supervisors in venture capitalism and project investment. It could serve as guidelines for entrepreneurs who intend to raise funds. Starting with the company’s business plan, the thesis focuses on estimating the company’s value with its return on investment using three scenarios and taking into consideration the risks evolved.

Start-up of horizontal anaerobic reactors with sludge blanket and fixed bed for wastewater treatment from coffee processing by wet method

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Start-up adjustment of a plug-flow digester for cassava wastewater (manipueira) treatment

Um dos resíduos gerados no processamento da mandioca (Manihot esculenta) é a manipueira, passível de tratamento por biodigestão anaeróbia. Este trabalho objetivou estudar o processo de partida de um biodigestor tipo plug-flow, tratando manipueira de duas maneiras: diminuindo-se gradativamente o tempo de retenção hidráulica (TRH) até se chegar ao tempo pré-estabelecido, quatro dias; ou mantendo-se o TRH fixo em quatro dias e aumentando-se gradativamente a concentração do afluente. O biodigestor, com capacidade 1980 mL, foi mantido a temperatura de 32ºC ± 1. Empregou-se como substrato manipueira e ajustou-se o pH entre 5,5 e 6,0. A primeira etapa foi caracterizada empregando-se TRH de 16,6; 13,6; 11,6 e 9,6 dias e 3,1; 2,0; 2,3 e 2,9 g DQO L-1 d-1 de carga orgânica, respectivamente. Na segunda etapa manteve-se TRH fixo, 4 dias, porém cargas orgânicas de 0,48, 0,86, 1,65 e 2,46 g DQO L-1 d-1. Determinaram-se no afluente e efluente, sólidos totais (ST) e sólidos voláteis (SV), demanda química de oxigênio (DQO), alcalinidade e acidez volátil. Na primeira etapa, melhores resultados foram observados trabalhando com TRH 9,6 dias e carga orgânica 2,9 g DQO L-1 d-1, quando houve redução de DQO, ST e SV de 60%, 44% e 60%, respectivamente. Na segunda etapa o TRH de 4 dias apresentou melhores resultados empregando-se carga orgânica de 0,86 g DQO L-1 d-1, houve redução de 71%, 58% e 79% de DQO, ST e SV, respectivamente. A partida do biodigestor plug-flow tratando manipueira, pode ser realizada tanto diminuindo-se o TRH, quanto mantendo-o fixo e aumentado-se a concentração do afluente.

Ethanol addition as a strategy for start-up and acclimation of an AnSBBR for the treatment of landfill leachate

This study evaluated the ethanol addition as a strategy for start-up and acclimation of a pilot scale (1300 L) anaerobic sequencing batch biofilm reactor (AnSBBR) for the treatment of municipal landfill leachate with seasonal biodegradability variations. The treatment was carried out at ambient temperature (23.8 ± 2.1 °C) in the landfill area. In a first attempt, the leachate collected directly from landfill showed to be predominantly recalcitrant to anaerobic treatment and the acclimation was not possible. In a second attempt, adding ethanol to leachate, the reactor was successfully acclimated. After acclimation, without ethanol addition, the CODTotal influent ranged from 4970 to 13040 mg L-1 and the removal efficiencies ranged from 12.1% to 70.7%. A final test was carried out increasing the ammonia and free-ammonia concentration from 2486 mgN L-1 and 184 mgN L-1 to 4519 mgN L-1 and 634 mgN L-1, respectively, with no expressive inhibition verified. The start-up strategy was found to be feasible, providing the acclimation of the biomass in the AnSBBR, and maintaining the biomass active even when the leachate was recalcitrant. © 2013 Elsevier Ltd. All rights reserved.

Relações públicas em uma nova perspectiva de atuação: empresas start-up

This paper presents a new playing field for the public relations professional: the start-ups. This new company, with characteristics of fast growth and high-risk investments, becomes an alternative and, at the same time, opportunity for innovative projects that turns from theory into real business, product or service. This way, the work starts on the context of innovation and spread of new ideas, so people can understand the importance of the promotion and study of new ways to market. Faced with this context, public relations professionals are becoming essential in the mediating process of scenario analysis for the implantation of start-ups, as well as the communication of innovation and insight in this new business environment