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Entrepreneurship Metrics - Dane Stangler

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This presentation was part of the Growing Entrepreneurial Communities Summit, a practitioner-focused summit designed to help economic development and small business practitioners effectively create economic growth through entrepreneurship in local communities. The 2018 Summit, subtitled Entrepreneurship on the Edges, focused on providing information and practitioner insight in how to effectively develop disadvantaged urban and rural communities using entrepreneurship-led development strategies.

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Entrepreneurship Metrics - Dane Stangler

  1. 1. Breaking “Startup Fever”: Increasing Entrepreneurship at the Edges Dane Stangler Growing Entrepreneurial Communities Summit April 2018
  2. 2. © 2017 We Have All Caught “Startup Fever” … 2 Source: David Benson, BYU.
  3. 3. © 2017 … But Not (Yet) Seeing Payoff—at least in New Company Creation— and there is Growing Concentration in Many Industries 3 Source: Economic Innovation Group
  4. 4. © 2017 Worse, Economic Value from Technology-Based Startups is Highly Concentrated—and Emerging Regions “Leak” Startups 4 Ecosystem Value Distribution by Region 2016-17 United States Europe Asia-Pacific Global Concentration of Ecosystem Value 2016-17 Top 20 Ecosystems Other 35
  5. 5. © 2017 Why Aren’t We Doing Better? • Data – Headlines only: “Investment grew $X last year.” “We graduated X companies from our accelerator.” • Vanity metrics – Incomplete data • No context, no comparison • Lack of benchmarks • No guidance for prioritizing or focusing – You can’t do it all – Where and how do you allocate your scarce resources? • Implementation and impact – We are all doing similar things  Startup Monoculture – How track impact? • Policy – Still, in many places, a hindrance not a help to entrepreneurs – Invisible policies, especially 5
  6. 6. © 2017 So What Can Be Done? This is What We are Working On • Startup Genome working with Kauffman Foundation • Adapting our model and methodology to help more American cities address this challenge – Beginning with 5 pilot metros • What does our model look like? 6
  7. 7. © 2017 Activation Globalization Expansion Integration Lifecycle Model Captures How Ecosystems Evolve and Grow—We Focus Especially on Stages within Activation Phase 7
  8. 8. © 2017 Success Factors Model  Clarity  Prioritization  Action 8 Founder Talent Organizations Funding Startup Experience Resource Attraction Team Local Ecosystem RESOURCES NETWORKS (Knowledge Flow) Local Connectedness Global Connectedness PERFORMANCE Startup Output Global Market Reach Ecosystem Value EconomicImpact Exits / Triggers Local Context 100 Metrics Validated Against Startup and Ecosystem Performance
  9. 9. © 2017 New Success Factors, and New Research  Consistent Goal to Help More Places Develop Startup Ecosystems and Capture Benefits • Local Connectedness – Quality not just quantity – Physical proximity unclear • Founder Mindset – Not personality • New research and application areas: – Accelerator Program Assessment – Inclusion • How do we make this a factor in assessing ecosystem performance? • Developing more rigorous way for entrepreneurs and supporters and champions and policymakers to identify strengths and gaps—and inform the actions they take, and monitor the effectiveness of those actions 9
  10. 10. © 2017 Tell Us What You Think Thank You! • New: 2018 Global Startup Ecosystem Report • @startupgenome • @danestangler 10
  11. 11. Thank You 11 JF Gauthier CEO +1-415-722-0345 jf@startupgenome.com Marc Penzel COO +1-415-278-1205 marc@startupgenome.com Dane Stangler Chief Policy Officer +1 (913) 634-4476 dane@startupgenome.com @danestangler
  12. 12. © 2017 Evidence-Based Policymaking Engine 12 4. ACTION Policies & Private Practices  Achieve Economic Impact 2. CLARITY Clear Gaps => Build Consensus for Action 1. FOCUS Right Issues at the Right Time  Maximize Impact 3. STRATEGY Prioritize vertical strengths  Accelerate Growth Lifecycle Evolution Success Factors Economic Strengths Policy Action
  13. 13. © 2017 Startup Genome: Scientific Knowledge of How to Develop Startup Ecosystems 13 • Most popular report • 300,000 views • Investors, Entrepreneurs, Talent… • Articles in hundreds of publications: Forbes, Bloomberg, Inc., etc. Global Credibility & Exposure • Largest primary research • 55 cities / 28 countries • Voice of Entrepreneurs • 10,000+ • Data and support from GEN, Crunchbase and 300+ partners Largest Knowledge Base • First Scientific Model • 9 Success Factors • 80+ metrics • Validated against Performance Model Evidence-Based Research

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