Modern Measurement of University-Based Entrepreneurship

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Great strides have happened at universities to cultivate entrepreneurs, and regions have developed stronger programs for collaborating with their higher education institutions to launch ventures. However, measurement and tracking of these economic development programs still lags the myriad approaches to starting new ventures. This delay may be attributed in part to continued reliance on traditional measurement methods for economic development performance within entrepreneurial ecosystems that are not structured to produce traditional results. This session presents new perspectives on the challenges of university-based entrepreneurship within regional economic systems and suggests new approaches to measuring and managing new venture creation.

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Modern Measurement of University-Based Entrepreneurship

  1. 1. MODERN MEASUREMENT O F 2 1 s t C E N T U RY U N I V E R S I T Y- B A S E D ENTREPRENEURSHIP UEDA Annual Summit 23 Oct 2012 Mike Provance, Ph.D. @mikeprovance ⋅ mike@provance.us
  2. 2. The Startup ProcessSystem of activities involved in mappingcreativity to need, and both to economicvaluePeople, ideas, technology – in that order – “Everything that can be counted does not necessarily count; everything that counts cannot necessarily be counted.” - Einstein
  3. 3. The Startup ProcessHow does it differ for university-based startups? – Small business inside a bureaucratic organization – Higher levels of scrutiny, numbers of stakeholders – Management talent gaps – Commercialization chasm
  4. 4. Startup SuccessHow do university-based startups look at success? – Jobs are not a measure of success; they are [the] factors of growth – First sale – Reputation & credibility – SurvivalDiversity of source, form complicate measurement
  5. 5. Startup Success UNIVERSITY-BASED ENTREPRENEURSHIPTHE INFORMAL APPROACH THE FORMAL APPROACH ⋅ Class Projects ⋅ Tech Transfer ⋅ Clubs ⋅ Training Programs ⋅ Labs, Cafes, and ⋅ Incubators Hallways ⋅ Catalyst programs ⋅ Entrepreneurs-in-residence ⋅ Long-form mentoring ⋅ Ecosystems/networks
  6. 6. Startup Success ⋅ Funding is an important metric, but… ⋅ Not a measure of success ⋅ Measures the quality of people, ideas & technology assembledgreenlitelabs.com
  7. 7. Engaging the Institution & CommunityTrends in University-Based Entrepreneurship – Collaborations between University & Community – Tension between Quantity & Quality – Increasing Speed & Variety
  8. 8. Engaging the Institution & CommunityAlign to institutional objectives & outcomes – Modifying expectations of institution • Longer payoff horizons, lower upfront • Ownership dilution – Investing in potential • Remove focus on jobs, place on growth targets • Building ecosystem to supply management • ‘Privatizing’ the spinoff process
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