The early-stage risk capital market in Scotland since 2000: issues of scale, characteristics and market efficiency

In this paper we provide a detailed profile and analysis of the regional risk capital market in Scotland, using an innovative methodology and specially developed databases which cover risk capital investment in young companies in the periods 2000–04 and 2005–07. This identifies the investment activity of all actors in the market and provides estimates of the total flow of risk capital investment into early-stage Scottish companies over the period. The paper concludes by drawing out the implications for policy makers (providing a more robust evidence base for the development, implementation and monitoring of policy) and for academic researchers (on the methodologies for estimating market scale and efficiency).

Correlation Rotation Linear Precoding for MIMO Broadcast Communications

A simple linear precoding technique is proposed for multiple input multiple output (MIMO) broadcast systems using phase shift keying (PSK) modulation. The proposed technique is based on the fact that, on an instantaneous basis, the interference between spatial links in a MIMO system can be constructive and can contribute to the power of the useful signal to improve the performance of signal detection. In MIMO downlinks this co-channel interference (CCI) can be predicted and characterised prior to transmission. Contrary to common practice where knowledge of the interference is used to eliminate it, the main idea proposed here is to use this knowledge to influence the interference and benefit from it, thus gaining advantage from energy already existing in the communication system that is left unexploited otherwise. The proposed precoding aims at adaptively rotating, rather than zeroing, the correlation between the MIMO substreams depending on the transmitted data, so that the signal of interfering transmissions is aligned to the signal of interest at each receive antenna. By doing so, the CCI is always kept constructive and the received signal to interference-plus-noise ratio (SINR) delivered to the mobile units (MUs) is enhanced without the need to invest additional signal power per transmitted symbol at the MIMO base station (BS). It is shown by means of theoretical analysis and simulations that the proposed MIMO precoding technique offers significant performance and throughput gains compared to its conventional counterparts.

Two-Stage Transmitter Precoding Based on Data-Driven Code Hopping and Partial Zero Forcing Beamforming for MC-DCMA Communications

This paper proposes a hybrid transmission technique based on adaptive code-to-user allocation and linear precoding for the downlink of phase shift keying (PSK) based multi-carrier code division multiple access (MC-CDMA) systems. The proposed scheme is based on the separation of the instantaneous multiple access interference (MAI) into constructive and destructive components taking into account the dependency on both the channel variation and the instantaneous symbol values of the active users. The first stage of the proposed technique is to adaptively distribute the available spreading sequences to the users on a symbol-by-symbol basis in the form of codehopping with the objective to steer the users' instantaneous crosscorrelations to yield a favourable constructive to destructive MAI ratio. The second stage is to employ a partial transmitter based zero forcing (ZF) scheme specifically designed for the exploitation of constructive MAI. The partial ZF processing decorrelates destructive interferers, while users that interfere constructively remain correlated. This results in a signal to interference-plus-noise ratio (SINR) enhancement without the need for additional power-per-user investment. It will be shown in the results section that significant bit error rate (BER) performance benefits can be achieved with this technique.