“We have seen the Chinese investment community in the past year, never paying attention to technology to focusing on technology conversion.†In mid-December 2016, founder Li Kaifu of Innovation Workshop was at the “China Innovation Forum†hosted by the International Finance Corporation (IFC). Say. He said that in the past year, China's mobile Internet dividends have rapidly subsided, user growth has become slow, and companies in many fields have begun to merge. In 2016, many entrepreneurs were talking about entering the capital winter and could not get the money. But an interesting phenomenon is that financing and valuation are not affected by high-tech companies that have unique value. China's investment community is paying more attention to technological innovation. In this environment, how do venture capital institutions adjust their investment strategies and favor the investment in technological innovation? What other areas of technological innovation have gradually been abandoned by venture capital institutions, or have they never been optimistic about capital? The technology that translates into apps is more dynamic “When the innovation workshop was founded seven years ago, people talked more about micro-innovation in China, that is, iteratively made companies with commercial value in the market quickly. This is also the main investment in the innovation workshop a few years ago. Directions. But at present, three-quarters of the companies invested in innovative workshops are high-tech companies.†Kai-Fu Lee said. Artificial intelligence is the area where the most innovative chips are thrown at the innovation workshop. Kai-fu Lee revealed that the Innovation Workshop began to deploy artificial intelligence in the field of artificial intelligence four years ago and invested in companies such as Face++. At present, investment in artificial intelligence has accounted for nearly half of the investment in innovation workshops. In addition, innovative workshops have also invested in areas such as cultural entertainment and online education. "The most powerful place in the machine is in the field of data, which can exceed the level of people, and will not be tired, will not require a raise, and will not strike." Li Kaifu said that currently in face recognition, speech recognition, etc. The machine has exceeded the human level. Artificial intelligence will also generate tremendous value in the areas of financial insurance, medical care and driverless driving. Aurora Ventures is also optimistic about the future of artificial intelligence. It currently has a company that specializes in autonomous driving, artificial intelligence platform, and artificial intelligence in medical diagnostic applications. "Mobile Internet and IoT will generate a lot of big data. The combination of big data and artificial intelligence can solve many problems and create investment opportunities." Deng Feng, founder and managing director of Aurora Ventures, told reporters of the 21st Century Business Herald. However, technological innovation requires more time accumulation. For example, a company that does autonomous driving technology needs years to grow. “Early investment is to enter at the beginning of the industry. When the industry becomes hot, it may be a good time for the project to quit,†he said. Deng Feng also believes that there are new investment opportunities in the fields of health care and life sciences. “These opportunities come from China’s huge consumer market and the per capita income level. On the other hand, it comes from technological breakthroughs, the cost of genomics and gene sequencing is reduced. It allows ordinary people to afford the price, and many application developments can be carried out. ."He said. For the key words in the field of technological innovation, Xu Chen, a partner of Gobi Venture Partners, also mentioned artificial intelligence. He told 21st Century Business Herald that from the development stage of artificial intelligence, the current venture capital is more invested in the front end, that is, information acquisition. For example, artificial vision and natural semantic analysis are all information acquisition technologies. These technologies are mature and the application scenarios are very clear, including driverless, drone, etc. Many companies have generated revenue and profit from them. In terms of deep learning of machines, there are also many capitals concerned. “But for the cognitive technology of artificial intelligence, venture capital is rarely involved. Because it is far from practical application, it is difficult for the machine to make judgments and conclusions. This technology takes a long time from input to output. At present, the labs of major companies such as Microsoft and Google are doing research and development," he said. Xiong Xiaoge, founding partner of IDG Capital, also believes that the technology that can be turned into an application is more vital. “There are very few technologies who will not be there at present, mainly to see who is better at applying the existing technology, how to operate more easily and more efficiently,†he told the 21st Century Business Herald. In addition to artificial intelligence, the Internet of Things, VR\AR and financial technology are also the focus of Gobi Venture Capital in the field of science and technology. Xu Chen said that the Internet of Things can once again attract people's attention, first because of the popularity of the mobile Internet. Second, in the past two years, many vertical industries such as agriculture and logistics have the need to improve efficiency and reduce costs, and the industry is constantly standardizing. Third, the surrounding industrial environment such as big data and underlying sensing technology is gradually maturing. “Although many VR\AR companies doing C-side services are cooling, VR\AR is applied at the B-end, and there are still many opportunities for integration with tourism, education and other industries. The general universal platform required for C-side The advantage of the B-end is that more is needed for a closed system. For many companies, it is possible to do the solution independently, without involving too many third parties." Xu Chen said. Technology-adjusted companies are gradually being replaced Which areas of technology are gradually being abandoned by capital? Xu Chen analyzed that companies that use technology as an embellishment and sales point are gradually being replaced. This change is particularly evident in the smart hardware industry. More and more entrepreneurs are beginning to use technology as a key element in driving the company's business. “For example, we have invested in a company that is a smart scale. The annual shipment of smart scales exceeds that of Xiaomi, but the company’s gross margin is not high enough to be a great company. And it’s difficult for the company’s subsequent influential products. In doing so, the product itself lacks a clear continuity and development path.†He said that this combination of technology and existing products, produced with simple intelligent hardware with additional functions, investors have not paid much attention. Xu Chen believes that the reason why the intelligent hardware industry is difficult to do is that the boundaries between smart hardware and consumer electronics are becoming more and more blurred, and products are greatly affected by the market competition. Many hardware products have to cut prices with market conditions, which makes it difficult to ensure long-term stable growth. At the same time, the development path of hardware products is also difficult to choose. For example, many companies can make better and cheaper bracelets, but the life cycle of the bracelet itself is not long. What to do next is a big problem. "And for many big companies, there is basically no threshold for entering the smart hardware industry. If they don't go inside, they may not understand where the industry opportunities are, or the industry opportunities are not big enough. If the startups can't form a clear technology. Barriers, or absolute differentiation, are difficult to survive in the market. But the formation of technical barriers and absolute differentiation is a difficult process," he said. Deng Feng also believes that projects with too low technical barriers tend to be similar in competition. In the end, they can only be reduced to price wars. Such projects are not favored by venture capitalists. For example, in the field of consumer-grade drones, drones that can fly normally are very good, but phenomenal products like Dajiang are rare. It is difficult for the wind investment book to choose the investment target among a small group of drone companies. He also said that some technological innovation projects with long investment cycles and heavy assets are not suitable for venture capital institutions to make early investments. For example, in agricultural seed technology, seeds are iterated once a year, and the cycle of venture capital determines that it is impossible to invest in seed technology. Some projects on energy, environmental protection and clean technology are very good in themselves, but the model is too heavy and the growth is low. Venture capital is less likely to invest in terms of rate of return, and these areas require state support.
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A flange can also be a plate or ring to form a rim at the end of a pipe when fastened to the pipe. A blind flange is a plate for covering or closing the end of a pipe. A flange joint is a connection of pipes, where the connecting pieces have flanges by which the parts are bolted together.
Although the word flange generally refers to the actual raised rim or lip of a fitting, many flanged plumbing fittings are themselves known as 'flanges':
There are many different flange standards to be found worldwide. To allow easy functionality and interchangeability, these are designed to have standardised dimensions. Common world standards include ASA/ASME (USA), PN/DIN (European), BS10 (British/Australian), and JIS/KS (Japanese/Korean). In the USA, ANSI stopped publishing B16.5 in 1996, and the standard is ASME B16.5
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