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The number of ventures with a market value of one billion USD or more has considerably increased during the last decade. Driven by new technologies and business models, these ventures became an integral part of our daily life. Particularly, the number of unicorns based in China and other regions outside the US raised during recent years whereas the phenomenon was initially limited to the US region. Existing research has mainly focused on descriptive approaches to examine the rise of these ventures but lacks knowledge on the drivers of this phenomenon. We address these research gaps and investigate the underlying factors that foster the emergence of such high-valued ventures. Our results present several economic environmental as well as investor-related factors that impact the likelihood for a venture to achieve a market valuation of more than one billion USD. Subsequently, we derive theoretical and practical implications that may foster the future emergence of new high-valued ventures, covering regulatory, investor- and venture-specific aspects. [ABSTRACT FROM AUTHOR]

• The refined CEFR Start-up tests calculations were performed by using the SARAX code. • The sensitivity of k eff value due to the change of input parameters was analyzed. • The uncertainty quantification of calculated k eff value and control rod worth of CEFR and detailed contribution to the total uncertainty were analyzed. In this paper, the numerical calculations of China Experimental Fast Reactor (CEFR) start-up tests were performed by using SARAX code with the improved core model. The results of criticality, control rod worth, and reactivity effect were compared against the experimental data. The numerical results showed the SARAX code could be reliably used for CEFR. Moreover, the sensitivity of the k eff value due to the change of input parameters was analyzed. At the same time, the uncertainty quantification of calculated k eff value and control rod worth and detailed contribution to the total uncertainty were analyzed. For the reactor loaded with highly enriched UO 2 fuel, the uncertainty of k eff value could reach more than 2%. Besides, the capture reaction of 235U contributed the most with a value of 1.91%. The uncertainty analysis of the control rod worth showed that the total uncertainty depended on the control rod layout rather than the composition. [ABSTRACT FROM AUTHOR]