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Aston University opens applications for Midlands’ Pitch Up investment competition
The Minerva Birmingham Pitch Up Competition is aimed at small business leaders looking for support with gaining investment Ambitious business leaders can improve their ability to win investment while boosting their profile The final will take place at Venturefest on 24 March 2022 at Eastside Rooms. Applications to Minerva Birmingham’s Pitch Up 2022 competition have opened. Formerly known as ‘Pitchfest WM’ and now in its 7th year, participating businesses have the chance to pitch head-to-head to a variety of investors to win a cash prize, and the ultimate accolade of Pitch Up Champion. Pitch Up is a collaboration, co-delivered by the Aston Centre for Growth, University of Birmingham Enterprise, and Minerva Business Angels, part of the University of Warwick Science Park Ltd. The competition provides the opportunity for ambitious business leaders to improve their ability to win investment while simultaneously boosting their business profile. Interested business leaders can apply here, applications close on 28th February. Shortlisted applicants will be supported through a workshop to refine their pitch deck, sharpen their pitching skills and receive valuable feedback in order to improve. The first workshop will take place on 20 January 2022. A select number of successful applicants will then advance to the next stage of the competition and have the opportunity pitch to an investor-led panel to gain more practice and receive more feedback. The best performing businesses will then be selected to pitch at the prestigious Pitch Up Final. This will take place as part of Venturefest WM on 24 March 2022 at Eastside Rooms, Birmingham. Venturefest attracts some 300 delegates including investors, entrepreneurs and innovators. The overall winner will be decided by audience vote and crowned Pitch Up Champion 2022, they will receive a cash prize and the option of additional support from Minerva Birmingham. Last year’s winner, Mark Platt Founder and CTO of Figura Analytics, said: “I was really amazed to win last year’s competition and delighted at the new connections and networks I made as part of the process. “The support received through the competition was fantastic; each workshop I attended allowed me to meet new people, learn new skills and left me energised and eager for more. Our winning pitch was definitely the result of some really insightful advice and feedback from the team and panel members.” The event has put more than 125 entrepreneurs directly in front of investors and helped bring in excess of £40,000,000 of investment to the region's small businesses to date. Paula Whitehouse, director of Aston Centre for Growth, said: “We are delighted to continue this collaboration, Minerva Birmingham Pitch Up exists to boost access to finance for the region’s most exciting and innovative young businesses. “The competition continues to play a crucial role in unlocking opportunities and investment for the future of high growth companies within the region.” Alex Toft, head of Minerva Business Angels, part of the University of Warwick Science Park Ltd. said: “It’s great to be part of such a collaborative relationship building not only support for our entrepreneurs but helping to build that support structure of finance and experience provided by investors. “This is a great opportunity for those earlier in their development cycle who would otherwise struggle to get noticed. We also continue to call on those who have never considered angel investing to join to reach out to us to find out more.” David Coleman, CEO of University of Birmingham Enterprise said: “Within the Midlands, there is a clear disparity between the large proportion of the UK's high-growth companies that are based here, and the investment secured. “That's why collaborative programmes like Pitch Up, which engage a diverse range of investors, are so important to increasing the likelihood of companies securing the funding they need.” Find out more about Pitch Up, by contacting centreforgrowth@aston.ac.uk, visiting Minerva Birmingham Pitch Up or apply now here.
Ask an Expert: Should Gaming Companies Release Their Latest, Greatest Platform Updates Early?
Late last year, Emory Business published an excellent article featuring research by Emory’s Ramnath K. Chellappa. An excerpt is included below and an attachment to the full article is attached as well. In June 2016, Xbox executive Phil Spencer told technology blog The Verge that it might be “crazy to announce something this early” as he unveiled the release of Xbox One X. It was a full year before the gaming console was set to hit the market. But Spencer, executive vice president of gaming at Microsoft, did so to arm customers with “as much information as possible.” He also wanted to communicate to developers what tools they’d have at their disposal. However, new research by Ramnath K. Chellappa, professor of Information Systems & Operations Management; associate dean and academic director for the MS in Business Analytics at Goizueta Business School, and Rajiv Mukherjee, assistant professor of information and operations management, Texas A&M University Mays Business School, shows that these types of preannouncements, no matter how informative, may not always be in a company’s best interests. According to Chellappa and Mukherjee, the value of preannouncing the latest and greatest features of a gaming console isn’t nearly as straightforward as the value gained by alerting customers to a new version of a Ford F150. While it may sound counterintuitive, as Chellappa and Mukherjee explain in their recent paper, “Platform Preannouncement Strategies: The Strategic Role of Information in Two-Sided Markets Competition,” sometimes the best way to announce new features in a platform-based world is by saying nothing at all. “We’re dealing with an ecosystem when we buy platforms,” Chellappa explains. “There’s a big difference between how products provide utility to an end-user versus how platforms provide utility to two sides of a market, one of which might be end-users.” When a company unveils a new version of a bicycle or television, there isn’t an ecosystem associated with those products. “But when you buy a gaming console, the value of you owning that console goes up as more of your friends play the same console,” Chellappa says. In their paper, the authors refer to this type of value as “same-side network effects.” In the platform world, Chellappa adds, there are also “cross-side network effects” in play—that the value of the gaming console goes up as more games are developed for that console. While many studies in marketing have focused on product preannouncements, the pair’s paper, published in Management Science earlier this year, is the first to study the use of preannouncements as a strategic lever for platforms rather than products. To conduct their research, the authors used game theoretic analysis to study three specific preannouncement strategies: formal (advertising, participating in tradeshows, developer training programs); informal (releasing information on a user or developer forum); and no announcement at all. The authors use Microsoft’s Xbox and Sony’s PlayStation gaming consoles as the primary setup in their paper (although their findings are generalizable to similar platforms). What Chellappa and Mukherjee found was that there were scenarios where it made sense to preannounce, but other scenarios where companies would be better off making either a lackluster preannouncement or none at all. “You would think that if I’m going to put out a new platform that has a lot of new features, I should inform the market about all those things,” explains Chellappa. “But what we find is that sometimes the competitive effects can force you not to announce much about the products you’re releasing because it might create a kind of a price competition.” For instance, a headline in an August 2020 blog in tomsguide.com comparing Xbox One X to Sony’s PlayStation 4 Pro, stated: “The Xbox One has more power than the PlayStation 4 Pro, but Sony fights back with an incredible game lineup and a lower price.” The article also includes insight including: Agents and Developers Create Business Model for Two-Sided Markets and Strategic Preannouncements Push Prices and Licensing Fees Higher The article is attached here – it’s well worth reading the entire piece. Gaming is a billion-dollar business – and if you are looking to know more about this subject – then let our experts help. Dr. Ramnath K. Chellappa is Associate Dean and Academic Director of the Master of Science in Business Analytics program. He is also the Goizueta Foundation Term Professor of Information Systems & Operations Management at the Goizueta Business School, Emory University. Ramnath is available to speak with media regarding this topic – simply click on his icon now to arrange an interview today.
What it will take to overcome supply chain disruptions
The supply chain disruptions sparked by the pandemic highlight the need for behavioral shifts by both consumers and companies. Asoo Vakharia, McClatchy Professor and director of the Supply Chain Center at UF’s Warrington College of Business, says supply chain disruptions are — and will continue to be — a way of life. But the degree of the turmoil experienced recently demonstrates the need for some change. “Demand dropped so quickly and at such a high volume that it created a problem for us,” Vakharia said in an episode of the From Florida podcast. Approximately 20% of imports to the United States come from Asia with the biggest share off-loaded in Los Angeles, followed by Long Beach, California. Those ports, along with other large centers, can accommodate the Ultra Large Vessels often used for trans-Pacific shipping. But they’ve been severely impacted by inflow/outflow imbalances caused by a range of factors including truck driver shortages and poor infrastructure. In response, companies such as Amazon, have purchased smaller vessels that can access a larger number of smaller ports, including those that may require passage through the Panama Canal. The move will enable the commerce giant to side-step some of the bottlenecks slowing down larger ports, but it will also add to expense. This is where Professor Vakharia says companies, and consumers, will need to make choices. He cautions companies to play the long game. “Consumers have long memories and they will reward people who have a little bit of recognition of our conditions,” he said. And he says buyers should always be on the lookout for deals. “There is lots of opportunity out there,” Vakharia said. “Maybe you won’t get the brand you want, but you will get a good brand. Let’s moderate our wants a little bit. Let’s think logically.” Professor Vakharia also sees opportunity for Florida ports, with the caveat that the complexity of the issue will require significant planning — and investment. “We need to have an infrastructure, which is rail or trucks, which are going to visit these ports and take the goods away from them because otherwise we’re going to do the same thing as Long Beach.” The added expense of smaller ships will also need to be managed. To hear more about the supply chain issues currently at play, and possible solutions for the future, listen to the episode on From Florida at this link. Read the recent article that Professor Vakharia has been quoted in: Listen to other episodes in the "From Florida" series from the link below.
Good COP or bad COP? | The Aston Angle
Four Aston University experts reflect on COP26 and what it means for transport, community and global action on decarbonisation, support for small businesses and China’s coal consumption. COP26 was the 26th United Nations Climate Change conference held in Glasgow from 31 October to 13 November 2021. The participating 197 countries agreed a new deal, known as the Glasgow Climate Pact, aimed at staving off dangerous climate change. But will it be enough? Dr Lucy Rackcliff explains why replacing petrol and diesel vehicles with electric ones alone is not radical enough. The overwhelming message coming from COP26 transport day seemed to be that moving to zero emission-vehicles would solve the well-documented issues created by petrol and diesel fuelled vehicles. As noted at the conference itself, transport is responsible for 10% of global emissions, and emissions from transport continue to increase. The WHO estimates that transport-related air pollution affects the health of tens of thousands of people every year in the WHO European Region alone. However, on-street pollution is not the only effect we should seek to address. Transport is responsible (directly or indirectly) for a wider range of environmental issues, and a wider range of health impacts. Moving to electric vehicles will not address impacts such as loss of land for other activities, use of finite resources in the manufacturing process, the need to dispose of obsolete materials such as used tyres, and the health effects of sedentary lifestyles, facilitated by car-use. In urban areas in particular, re-thinking policy to focus on walking, cycling and public transport-use could free up land for other activities. Car parks could become actual parks, in turn encouraging more active lifestyles, creating space for people and plants, and leading to a range of wider societal benefits. Assuming that replacing petrol and diesel vehicles with electric ones will solve all our problems is a strategy which lacks ambition, and thus denies us the benefits that more radical thinking could deliver. Dr Lucy Rackcliff, Senior Teaching Fellow, Engineering Systems & Supply Chain Management, Aston Logistics and Systems Institute, College of Engineering and Physical Sciences. "Assuming that replacing petrol and diesel vehicles with electric ones will solve all our problems is a strategy which lacks ambition." Professor Patricia Thornley reflects on the role that Aston University and EBRI can play in empowering community action and informing global action with research. COP26 energy day was a fabulous experience. I have never before seen so many people in one place with one ambition: to support and accelerate decarbonisation of the UK’s energy systems. We ran a “fishbowl”, which allows people with different perspectives on a topic (experts and non-experts) to participate in dialogue around a common interest. Our researchers, local government representatives, industrialists and students shared their thoughts on what our future energy mix should look like, how it should be delivered and who needs to act. Without doubt the consensus was that many different technologies have a role to play and there is an urgent need to accelerate implementation. There were reflections on the importance of governance at different levels and an interesting discussion around the relative merits of centralized solutions and devolved actions. The reality is that of course we need both and that made me think about what Aston University and EBRI can do. Of course we should implement centrally with initiatives like the impressively low carbon Students’ Union building, but we also need to raise awareness among our students. Our film showing with the Students’ Union a week later helped with that I hope, and many more of our courses are incorporating sustainability elements which is fantastic. But what we haven’t quite achieved yet is an empowered, proactive voice that would lead to wider community action. There are pockets of excellence but a lot still to be done. My second week at COP26 was very different with police presence outside a building where I had three meetings with industrialists on the controversial topics of forestry and land-use. It was sad to be working with key players to improve sustainability and increase carbon reductions through UK bioenergy while listening to drumbeats outside from objecting protestors. There is a real lack of understanding around forest management and global land use and we need to work harder to improve that. It is a huge challenge, but one that EBRI will work hard to address. Professor Patricia Thornley, Director of EBRI, Energy and Bioproducts Research Institute (EBRI), College of Engineering and Physical Sciences. "There is a real lack of understanding around forest management and global land use and we need to work harder to improve that." Professor Presanta Dey explores whether Government pledges on climate change will translate to practical support for small businesses Following the COP26 climate change summit, the UK Government led the way in making a series of pledges and policy commitments to combat climate change. The question is: how will this translate to practical support for SMEs? Large corporations often take centre stage at COP, which is welcomed, but if we are to see real change, everyone needs to be involved. COP26 provided a refreshing voice for UK small businesses which featured panel discussions on the ‘SME Climate Hub’, highlighting net zero opportunities and challenges for SMEs. The momentum of COP26 has already inspired over 2,000 UK small businesses to sign up to the UN's Race to Zero campaign, which is designed to accelerate the adoption of credible net-zero targets. A long journey ahead still awaits us, however campaigns like these will hopefully start a ripple effect inspiring the remaining six million UK SMEs to take climate action. Small businesses have been crying out for more assistance from the government in the form of ‘green’ grants and financial support to enable them to make the necessary long-term changes. The timely announcement of HSBC’s £500m Green SME Fund at COP26 marks a promising first step towards making it easier for SMEs to fund their green ambitions. In summary, COP26 provided some comfort to UK SMEs seeking a higher level of commitment from government, financial services and businesses. This moment must act as a catalyst for policy makers to continue removing the barriers that are holding small businesses back. Professor Presanta Dey, Professor of Operations & Information Management, College of Business and Social Sciences. Professor Jun Du explains what China’s deal means for the rest of the world following its own energy crisis earlier this year… Despite the many disappointments expressed around the COP26 outcomes, important progess has been made for the world economy moving towards carbon neutrality. Among the noticeable achievements China and the US, which together emit 43% of the total CO2 in the air, have agreed to boost climate co-operation despite many disagreements. This includes China’s pledge to more actively control and cut methane emissions during the next decade - even when the country did not sign up to the global methane pledge made in Glasgow. Reaching net zero will be an unprecedented challenge for all countries. China will need to do the heaviest lifting among all. The country’s energy crisis earlier this year has shown just how hard it will be to reach net zero. The exceptionally early and cold winter this year will demand even more coal, so China’s willingness and resolve for climate commitments are good news to all. While lots of attention was turned to the absence of China’s president, Xi Jinping, from the COP26 climate summit, what is less appreciated is the fact that China is serious about decarbonisation. Few countries invest as much as China in that area, nor grow as fast in finding alternative energy to coal and in green industries like electric cars. China has set specific plans in its 14th national five-year plan for economic and social development to reach peak carbon emissions by 2030 and carbon neutrality by 2060. COP26 could be an additional driver for “an era of accountability” for China. Professor Jun Du, Professor of Economics, Finance and Entrepreneurship, Centre Director, Centre for Business Prosperity, Aston Business School levy.
Expert available to discuss Holmes trial verdict
Elizabeth Holmes, founder of the failed blood testing start-up Theranos, was found guilty Monday of four of 11 charges of fraud, after a closely watched trial that lasted nearly four months. A jury determined that she deliberately misled investors. Todd Haugh, associate professor of business law and ethics and the Arthur M. Weimer Faculty Fellow in Business Law at the Indiana University Kelley School of Business, is available to comment on the verdict and future sentencing. Haugh’s research focuses white collar and corporate crime, business and behavioral ethics, and federal sentencing policy, exploring the decision-making processes of the players most central to the commission and adjudication of economic crime and unethical business conduct. He can discuss: • The size of the potential sentencing and the calculation the judge will make in determining it (the statutory maximum is high -- 20 years; the sentencing guideline will be very high -- maybe life imprisonment; but the actual sentence will be much, much lower); • The impact the acquitted conduct will have on the sentence (none -- the law allows the judge to consider all conduct, even counts she was acquitted of) • The impact of Holmes going to trial versus pleading guilty (significant because she loses cooperation credit, for example); • The larger business ethics and compliance implications of the case, which Haugh believes are significant, given the high profile nature of Theranos and Holmes, the culture of Silicon Valley, and the rarity of a criminal trial in a case like this); Haugh can be reached at thaugh@indiana.edu and 812-855-6539
Striking a chord! New Savannah museum tells the storied history of Gretsch instruments
Drums, guitars, history, business and education have come together in a spectacular new interactive museum and exhibit in downtown Savannah that will pique the interest of any music lover. That Great Gretsch Sound! museum is a new destination where Georgia Southern University helps tell the story of a family-owned company that is still regarded as one of the music industry’s most influential and innovative instrument manufacturers. The permanent display of music memorabilia, highlighting more than 135 years of Gretsch instruments, is featured in District Live’s new lobby and performance space on the banks of the Savannah River. The museum is the latest addition to the Plant Riverside District. The museum’s opening was recently featured in Premium Guitar : The exhibit space highlights some of the most popular and unique pieces of Gretsch's historic catalog. The museum lobby features some of the most iconic instruments the company has produced, including the White Falcon™, the Chet Atkins® Country Gentleman®, a Brian Setzer Signature G6120, and a vintage 1963 Jet™ Firebird popularized by AC/DC's Malcolm Young. In the District Live performance hall, visitors will be treated to a visual timeline that will allow them to explore the evolution of Gretsch instruments dating back to the 1920s. Approximately 100 guitars are on display in the exhibit, 48 of which were recently on display in Nashville's Country Music Hall of Fame. The museum was developed through a special partnership between the Fred and Dinah Gretsch School of Music at Georgia Southern University and The Kessler Collection. In addition to the instruments that line the performance hall and upper section of the lobby, the museum features three sound dome displays with original videos that highlight Gretsch history, instrument production, the worldwide community of past and present Gretsch artists from Chet Atkins and George Harrison to Phil Collins, and the family's storied commitment to music education. Several other display cases take guests on a visual journey from Gretsch's beginnings as a local manufacturer of calf-skin drums, banjos, and accordions to one of the most popular and sought-after producers of guitars and drums during the height of the Rock & Roll era. Downtown Savannah is now helping tell that Gretsch story. The Gretsch museum includes Gretsch instruments and storyboards with QR code links to detailed narratives. "We hope this new museum will preserve the long history and legacy of the Gretsch Family and the Gretsch Brand," Dinah Gretsch said. "It is wonderful to share our history with the city of Savannah, the loyal Gretsch fans and all the tourists that will visit the museum." The museum's artifacts were curated and installed by Aaron Phillips, Georgia Southern's project curator for the Fred and Dinah Gretsch Artifacts Collection. Through his research to prepare the museum, he is confident that the Gretsch Museum will provide a unique musical experience. "My goal was to create a space that is expressive, inspirational, and true to the roots of the Gretsch family and community," Phillips said. "I am in awe of how this turned out!" To learn more – the full media release from Georgia Southern is attached below: If you’re a journalist looking to cover That Great Gretsch Sound! – then let us help. Aaron Phillips, Georgia Southern's project curator for the Fred and Dinah Gretsch Artifacts Collection is available, simply reach out to Georgia Southern Director of Communications Jennifer Wise at jwise@georgiasouthern.edu to arrange an interview today.
Recently, the expertise of Georgia Southern University’s researchers was featured in an in-depth piece by Business Insider Magazine. U.S. oncology company OncoTEX has made a significant leap in the future of cancer treatment. A part of the bioscience development portfolio The iQ Group Global, OncoTEX has licensed a gold compound platform technology, AuraTEX, that helps destroy cancer cells by using the body’s immune system. The gold-based compounds enter cancer cells and attack them from the inside. Through this process, the tumours are disrupted, and cancer cells are made visible, causing the human body’s immune response to kick in. With the immune system and gold compounds working together, killer T-cells and the drug destroy the remaining cancer. The futuristic technology was developed in collaboration with the University of Texas at Austin, Georgia Southern University, and Wright State University, before being licensed to OncoTEX. In the coming months, OncoTEX and the University of Texas at Austin will test the gold compounds in rigorous studies to learn more about the treatment and its potential in fighting various forms of cancer. December 16 - Business Insider The full article is attached. And, If you’re a journalist looking to cover this new research that Georgia Southern is a major part of - – then let us help. We have experts available to answer your questions - simply reach out to Georgia Southern Director of Communications Jennifer Wise at jwise@georgiasouthern.edu to arrange an interview today.
Inflation's on the rise - can it be reigned in for 2022?
It seems the cost of everything is going up. For most Americans, filling up your car and filling up your grocery cart are now noticeably more expensive. Costs of goods are going up and that's taking a toll on the cost of living for a lot of people across the country. But what's causing the prices of goods and services to creep upwards - and what will it take to tame the upward trend that has inflation at its highest rate in more than 30 years? Recently, Andrew Butters and Kyle J. Anderson from Indiana University’s Kelley School of Business sat down with Indiana NewsDesk to help explain what's going on. Inflation might be the one the leading news stories of 2022 - and if you are a reporter looking for answers - then let us help with your coverage. Andrew Butters is an Assistant Professor of Business Economics and Public Policy at Indiana University’s Kelley School of Business. He is also an expert in the areas of industrial organization, productivity, market integration, demand and business cycles. Kyle J. Anderson is a Clinical Assistant Professor of Business Economics. He is an is an economist researching business and pricing in online environments. Both Kyle and Andrew are available to speak with media regarding this important topic – simply click on either expert's icon now to arrange an interview today.
As the legendary political guru James Carville used to say, "It’s the economy, stupid." And these days with housing prices, inflation and the cost of living all pointing up in a very steep trajectory – the state of the economy is front and center for a lot of politicians, Americans and families as the year comes to a close. There’s a lot to be considered, and that’s where experts like Augusta’s Dr. Simon Medcalfe are being sought out to explain economic trends what is behind them. “U.S. retail sales are high,” explains Medcalfe “We had a lot of stimulus checks coming through the door and that’s really spurred extra spending and it’s across a whole range of retail sectors.” According to Medcalfe, household items are also seeing double-digit price increases. “What we’ve seen over the last 18 months during the pandemic, is a shift in our consumer preferences and consumer behavior.” • Furniture sales are up 29% • Used cars and cars in general are up 25-26% • Gardening and building supplies are up 14% • Electronics have seen an almost 30% increase • Clothing sales are up a whopping 50% But it’s not all good news - as the price of everything as we know is going up. “Inflation is running about 6.8% nationally,” Medcalfe explains. “It’s running about 7.2% in the south and it’s certainly a concern of policymakers and economists.” But theirs is sunshine behind those clouds as Medcalfe believes 2022 will see a return to normal. “I think next year inflation will come down. I know it won’t be at these high levels, but I still think it’ll be above the Feds target level of inflation, so look for those interest rate increases next year.” The economy and what to expect locally and nationally are hot topics – and if you are a reporter covering this topic – that’s where we can help. Dr. Simon Medcalfe is a highly regarded economics expert and the Cree Walker Chair in the Hull College of Business at Augusta University. Medcalfe is available to speak with media regarding the economy and its outlook – simply click on his icon now to arrange an interview today.
Christmas is here! And with the hustle and bustle of shopping and scouring the internet for that perfect gift or deal, odds are there are people lurking in the dark corners hoping to stuff their stockings with scams if you’re not too careful. At Thanksgiving, when the official start to the shopping season began – the experts from Indiana University’s Kelley School of Business were front and center answering media calls and doing interviews about this very topic Scott Shackelford, a professor at Indiana University specializing in cyber security, said there are some red flags to be on the lookout for while shopping online. “There’s some easy ones to spot right off the bat, including if on the URL,” said Schackelford. “If you see it just as HTTP and not HTTPS. That S stands for secure, which means your information is encrypted when you use that site.” Shackelford also said to be on the lookout for funny wordplay involved on the website. Maniscalo says most of these fake websites originate from outside the country. “English is not their native tongue, so they will a lot of times have misspellings, or say things in kind of an awkward way, not how we would say it, or how we would print it out there,” said Maniscalo. There is also the problem of what Shackelford calls Grinch Bots. These are automated bots that monitor major retail sites to see what items are the hottest and buy them out as soon as they are restocked. “There’s actually been bills that have been proposed in Congress to deal with example of that phenomenon. But of course, they’re not enacted yet, so it’s still up to consumers,” said Shackelford. November 25 – Fox News It’s going to be a busy holiday shopping season – and if you’re a journalist looking to cover this important top, then let us help. Scott Shackelford is an Assistant Professor of Business Law and Ethics at Indiana University’s Kelley School of Business. He’s an expert in the field of cybersecurity law and policy. Scott is available to speak with media about this subject – simply click on his icon now to arrange an interview today.