External corporate venture capital investment: Towards a framework for capturing and measuring strategic value

This paper presents the initial results of on-going research in the field of external Corporate Venture Capital (CVC) investments, i.e. equity investments of large corporations in entrepreneurial ventures which originated outside the corporation. The research is motivated by the fact that external CVC plays an increasingly important role within the strategy of corporations. Driven by a general trend towards a more open approach to innovation, companies see particular value in external corporate venturing as a tool to gain, for example, access to complementary technologies and a general window on technology developments. The review of literature in the field of external corporate venturing clearly reveals that theoretical gaps exist in understanding mechanisms for capturing value and measurements of this value. To help close these gaps, the research addresses the underlying question "How do corporations and start-ups capture and measure strategic value through external CVC investments" by using embedded, multiple case studies. Following an initial set of case studies, steps towards the development of a framework for capturing and measuring strategic value from CVC investments are outlined within this paper and the resulting preliminary framework is presented. The paper closes with an outlook on ongoing and future research steps. © 2009 PICMET.

Network structure preserving model reduction with weak a priori structural information

This paper extends a state projection method for structure preserving model reduction to situations where only a weaker notion of system structure is available. This weaker notion of structure, identifying the causal relationship between manifest variables of the system, is especially relevant is settings such as systems biology, where a clear partition of state variables into distinct subsystems may be unknown, or not even exist. The resulting technique, like similar approaches, does not provide theoretical performance guarantees, so an extensive computational study is conducted, and it is observed to work fairly well in practice. Moreover, conditions characterizing structurally minimal realizations and sufficient conditions characterizing edge loss resulting from the reduction process, are presented. ©2009 IEEE.

The role for low carbon electrification technologies in poverty reduction and climate change strategies: A focus on renewable energy mini-grids with case studies in Nepal, Peru and Kenya

As a potential poverty reduction and climate change strategy, this paper considers the advantages and disadvantages of using renewable energy technologies for rural electrification in developing countries. Although each case must be considered independently, given a reliable fuel source, renewable energy mini-grids powered by biomass gasifiers or micro-hydro plants appear to be the favoured option due to their lower levelised costs, provision of AC power, potential to provide a 24. h service and ability to host larger capacity systems that can power a wide range of electricity uses. Sustainability indicators are applied to three case studies in order to explore the extent to which sustainable welfare benefits can be created by renewable energy mini-grids. Policy work should focus on raising awareness about renewable energy mini-grids, improving institutional, technical and regulatory frameworks and developing innovative financing mechanisms to encourage private sector investments. Establishing joint technology and community engagement training centres should also be encouraged. © 2011 Elsevier Ltd.

Towards a modular toolkit for strategic technology management

Many strategic technology management methods and tools have been proposed and deployed by academics and practitioners. Each approach, with its advantages and disadvantages, provides a particular perspective for supporting understanding, analysis, decision and action. Many approaches overlap in function, the interfaces with other methods are not clear, and many variants of tools are often available with little guidance provided for their application. As a step towards the construction of a flexible toolkit for supporting strategic technology management, this paper sets out a workshop-based approach that comprises functional modules that can be combined to address a range of management challenges. Copyright © 2012 Inderscience Enterprises Ltd.

Influence of film cooling hole angles and geometries on aerodynamic loss and net heat flux reduction

Turbine design engineers have to ensure that film cooling can provide sufficient protection to turbine blades from the hot mainstream gas, while keeping the losses low. Film cooling hole design parameters include inclination angle (α), compound angle (β ), hole inlet geometry and hole exit geometry. The influence of these parameters on aerodynamic loss and net heat flux reduction is investigated, with loss being the primary focus. Low-speed flat plate experiments have been conducted at momentum flux ratios of IR = 0.16, 0.64 and 1.44. The film cooling aerodynamic mixing loss, generated by the mixing of mainstream and coolant, can be quantified using a three-dimensional analytical model that has been previously reported by the authors. The model suggests that for the same flow conditions, the aerodynamic mixing loss is the same for holes with different α and β but with the same angle between the mainstream and coolant flow directions (angle κ). This relationship is assessed through experiments by testing two sets of cylindrical holes with different α and β : one set with κ = 35°, another set with κ = 60°. The data confirm the stated relationship between α, β, κ and the aerodynamic mixing loss. The results show that the designer should minimise κ to obtain the lowest loss, but maximise β to achieve the best heat transfer performance. A suggestion on improving the loss model is also given. Five different hole geometries (α =35.0°, β =0°) were also tested: cylindrical hole, trenched hole, fan-shaped hole, D-Fan and SD-Fan. The D-Fan and the SD-Fan have similar hole exits to the fan-shaped hole but their hole inlets are laterally expanded. The external mixing loss and the loss generated inside the hole are compared. It was found that the D-Fan and the SD-Fan have the lowest loss. This is attributed to their laterally expanded hole inlets, which lead to significant reduction in the loss generated inside the holes. As a result, the loss of these geometries is ≈ 50 % of the loss of the fan-shaped hole at IR = 0.64 and 1.44. Copyright © 2011 by ASME.

Product scheduling for thermal energy reduction in papermaking industries

Papermaking is considered as an energy-intensive industry partly due to the fact that the machinery and procedures have been designed at the time when energy was both cheap and plentiful. A typical paper machine manufactures a variety of different products (grades) which impose variable per-unit raw material and energy costs to the mill. It is known that during a grade change operation the products are not market-worthy. Therefore, two different production regimes, i.e. steady state and grade transition can be recognised in papermaking practice. Among the costs associated with paper manufacture, the energy cost is 'more variable' due to (usually) day-to-day variations of the energy prices. Moreover, the production of a grade is often constrained by customer delivery time requirements. Given the above constraints and production modes, the product scheduling technique proposed in this paper aims at optimising the sequence of orders in a single machine so that the cost of production (mainly determined by the energy) is minimised. Simulation results obtained from a commercial board machine in the UK confirm the effectiveness of the proposed method. © 2011 IFAC.