Key Performance Indicators (KPIs) for Incubators and Accelerators: I&A

AA: Additional Article; a bonus post, to help and connects the dots for driving the Gov Tech and Innovation ecosystem

Earlier in my article on Technology and Innovation: to solve challenges for 8B+ Population? I have shared a detailed story about SOSV & ?Sean O'Sullivan who has laid down the foundation for one of the unique umbrellas of institutions driving and building the Global Ecosystem for Deep Tech Founders. [Article]

Today, with four of the program?HAX,?IndieBio,?Orbit Startups?and?dlab,?#SOSV?is one of the unique ecosystems offering?#preseed,?#seed,?#venture, and?#growth?stage?#funding?to startups working technology sector.

But questions that today, I will be discussing here through an article is more inclined on #KPIs for Incubators & Accelerators, often called as powerhouse of the Innovations [to understand the difference b/w Incubator & Accelerator, look out the Article written by one of my colleague Suhas Darsi ].

Simon Sinek once have said, When it comes to business, we have to know the game we're playing. [Post]

Detail Discussion on Framework for I&A: KPIs and Process

Incubators and accelerators play a crucial role in the success of startups by providing #mentorship, #resources, and #networking opportunities. As an incubator or accelerator manager or CXO, it's important to track and measure the impact of your program to ensure that you're providing value to your startups and meeting your organization's goals.

But even before that, what are some of the frameworks that are mandatory for one to monitor or keep while designing some of the best programs to support and accelerate the journey of Startups?

How does the Ecosystem Look today?

Perhaps when #BellLab was established; or Society for Innovation & Entrepreneurship -SINE IIT Bombay ) the first incubator of India in 1988; no one would have predicted that in around three decades, India would be driving the ecosystem with 2k+ #Incubators, #Ecells, #Accelerators #Coworking Ecosystem, to support 90k+ startups.

What startups looks when it comes to ecosystems?

Startups or Founders at an early stage have four biggest challenges, #Brand #Knowledge #Structure and #Network. As founders, this is what at an early stage, could help to succeed; as an Incubator, the benefits it provides because of the #brand value it has in the market, the mentor network it has built; the structured program bringing out best of value added; and the regional, national and international network it brings; defines the overall success and its impact on the exits for the startups.

As Manager and CXO for any incubator, the highest priority should to make these four pillars as strong as possible.

North Star Goals: Impacting all Stakeholders

The goal for I&A is to drive the Innovation and Startup ecosystem by impacting all stakeholders, its essential to understand the presence they hold, and the support team bring. One of first KPIs for any successful I&A if they are able to connect the dots and can play the role of Hubs for the regional ecosystem (Spoke).

USP: All round support to startups

Four Pillars discussed above help to create the #USP, next #KPIs of the Incubators or of the Institutions, that gives credibility in terms of bringing out benefits of #Learning, #Network #Team, #Partners, #Visibility and at the end, #Funding. Super important to provide the all round support and that's why CXOs and Managers are often called as real unsung hero's of the #innovation ecosystem.

Today, much support are being provided by the Government in terms of Funds, though the VC ecosystem too in India is driving the growth of the startups, but at early stage, funds like Samridhi, TIDE, NIDHI etc by MeitY Startup Hub ; SISFS by Startup India ; ANIC, AIM and other grants, resources, support by Atal Innovation Mission Official , NITI Aayog Official ; Chunauti and deep tech focused innovation challenges launched by STPI - Software Technology Parks of India ; and other program & R&D funds by department like #DST, #DBT, #MSME have been helping a lot of founders at early stage. [To Know in detail about Government Grants and Funds: Read my previous post]

360 Degree support: TIPP-FIV Framework by Headstart Network Foundation

#Headstart since 2007, enabling the startup ecosystem by hosting programs, networking meets, and 20+ other programs. A Volunteer driven org, with 25+ city chapters and 3 International chapters driving the Startup Ecosystem.

Headstart brought TIPP-FIV Framework around 2017-18, a propriety framework and platform to Enable the Enablers. A Unique approach that has been developed after years of experience, extensive surveys and research and based on the #founder first approach.

A framework designed to track the following #KPIs or Growth factors and helps to analyze various other factors, including:

• Success rate: To measure the percentage of startups that complete the program and go on to achieve their goals, like securing funding or launching a product, defined by the Startups and Incubators at the beginning.
• Time to market: To measures the amount of time it takes for startups to bring their products or services to market after completing the programs.
• Funding raised: This KPI measures the total amount of funding raised by startups through direct support of I&A. One of the important metrics for both #startups and #investors, as it indicates the potential for growth and success coming from the programs of the Incubators.
• Job creation: Startups are meant to create jobs, and to understand the impact it creates on the economy of the country, important to track the number of jobs created by startups through program of I&A. This is an important metric for economic development and can be used to demonstrate the impact of on the local community.
• Innovations and IPs: One of the highly indicative and measurable KPIs, especially if the Incubators are engaged with deep tech or hardware-led or med-tech startups. More IPs by the startups help to understand the contribution; Incubators are making in terms of the Global Innovation Index
• Alumni success rate: Incubators is not just about the current programs or for ongoing startups, but the handholding support it provides to its alumni base; important to track the success of those who may have made exits. This KPI measures the success rate of startups that have completed your program and gone on to achieve long-term success. This metric is important for demonstrating the long-term impact of programs and can help attract future startups and investors.
• Net promoter score (NPS): #Feedback on the program (often missed out) is important to upgrade and resolve the challenges one might have faced. At an early stage for Incubators also, its a learning phase and hence, important to track and measure the satisfaction of your startups with the program. A high NPS indicates that the startups are satisfied with the support and program and will likely recommend it to others.
• Mentors, Partners and Network: A good mentor pool and collaboration with stakeholders shows the benefits it brings to the startups

Incubation Process: for the Sustainable Ventures

Journey of the I&A startup from the Awareness, by launching out networking meets, roadshows, panel discussion, launching out various innovations challenges and then deciding on which #Startup-Program Fit. Important to decide in term of maturity level, stage, and 10 different parameters, so to finalise if they will be part of #Pre Incubation, #Incubation or will directly go to #Accelerator program [to understand the difference b/w Incubator & Accelerator (I&A), look out the Article written by one of my colleague Suhas Darsi ].

The ultimate goal for all the programs usually (except Pre Incubation Program) is to make them Investor ready, this could be in today's scenarios making them ready to grant the government grants and funds.

Headstart and support team provides:

Headstart, Headstart Hubs and 20+ Initiatives:

Headstart is a dynamic organization that is committed to driving the startup ecosystem forward in India. With over 20 different initiatives and programs, Headstart provides comprehensive support to startups at every stage of their journey. With years of experience under its belt, Headstart has a strong vision to enable the enablers and bring about positive change in the startup ecosystem.

One of Headstart's most significant contributions is the Headstart Hubs initiative, which is a unique alliance of 25 different hubs across India. Supported by AIM, Niti Aayog, DST Government of India, and self-financed, the Headstart Hubs initiative provides a comprehensive support system for startups and incubators. With its extensive network of resources and expertise, Headstart Hubs is well-equipped to help startups thrive in today's fast-paced business environment.

Are you interested in achieving or setting the rightful #KPIs for your I&A?

Headstart, with a team of 120+ volunteers across 25+ cities in India and 3 international chapters, is dedicated to supporting the world's 3rd largest startup ecosystem. With expertise and experience, it empowers startups with critical resources, mentorship, networking, and more.

Through its extensive network of industry leaders, investors, and mentors, Headstart connects startups with a diverse range of perspectives to drive their success.

If this has helped you out, do share, tag and comment here :)

Want to connect with Headstart Team (in case need help to setup process or building incubator) : https://bit.ly/HS_InnovationHub

Acknowledgement: to the whole team at Headstart {Gautham?|?Amit ?|?Ujjwal?|?Netra ?|?Ojasvi ?|??Taha Malik?|?Tushar V.?| Aarzoo |?Ritik ?|?Vaniya?| Sanjana Uthappa | Suhas Darsi | Muskan Dakuda | Divyanshu Gupta | Ruchi Vora Shah | Roopali . | Thanmayee Vasistha | Vageesh Kaingaryam Muralitharan and #Volunteers who are driving the whole ecosystem}