Impact of Entrepreneurship Database Sean Peters June 24, 2015.
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Transcript of Impact of Entrepreneurship Database Sean Peters June 24, 2015.
Impact of Entrepreneurship Database
Sean PetersJune 24, 2015
Why does this matter?
How was the research done?
What are we seeing so far? - Gender differences- Accelerated vs. non-accelerated- Impact measurement- Support expectations
What’s next?
Agenda:
Why does this matter?
Problem 1 – Do accelerators work?
= 10 entrepreneurs
Accelerator Program
= 10 entrepreneurs
Accelerator Program
= 10 entrepreneurs
6 mo
12 mo
18 mo
24 mo
Yes80%
No20%
Remain alive
=Average # Employee Growth
0
2
4
6
8
10
12
14
Selected Entrepreneurs
Average Additional Equity Raise$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
Selected Entrepreneurs
Do accelerator programs work?
Do some programs work better than others?
Does program or practice effectiveness depend on sector or locational context?
Does program or practice effectiveness depend on entrepreneur/venture characteristics?
Are investments in accelerator programs worth the time and money?
Problem 2 – How do early-stage entrepreneurs grow?
How do you identify early-stage entrepreneurs?
How do you get data from them?
= 10 entrepreneurs
Accelerator Program
= 10 entrepreneurs
Accelerator Program
Accelerator Program
Accelerator Program
Consistent Application Questions
= 10 entrepreneurs
6 mo
12 mo
18 mo
24 mo
Yes80%
No20%
Remain alive
=
Average # Employee Growth02468
101214
Selected EntrepreneursUnselected Entrepreneurs
Average Additional Equity Raise$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
Selected EntrepreneursUnselected Entrepreneurs
Yes60%
No40%
Remain alive
How was the research done?
64 Partners since 2013
2013 Q1/Q2
2013 Q3/Q4
2014 Q1/Q2
2014 Q3/Q4
2015 Q1/Q2
Accelerator Partners
3 6 10 11 21
Entrepreneurs 320 517 696 834 700+
2013 Q1/Q2
2013 Q3/Q4
2014 Q1/Q2
2014 Q3/Q4
2015 Q1/Q2
Accelerator Partners
3 6 10 11 21
Entrepreneurs 320 517 696 834 700+
Getting to 50%+ Response Rate
Follow-up Survey Response Jan 2014
Surveying Tips:
- Minimize time commitment
- No Mailchimp
- Incentivize!
- Primary inbox!
Initial mass message
Second mass follow-up
Third mass follow-up
Initial individual
Second individual
Third individual
Fourth individual
Fifth individual
What are we seeing so far?
Accelerated vs Non-Accelerated Ventures
Responses from 2 waves of follow-up survey-ing
Accelerated Unaccelerated
Accelerated vs Non-Accelerated Ventures
Accelerated ventures are growing revenues at roughly twice the rate as those that applied but were not accepted.
Accelerated ventures are attracting investment at a roughly 50% higher rate compared to those that applied but were not accepted.
Accelerated vs Non-Accelerated Ventures
We are not seeing much when it comes to employment growth, or to debt or philanthropic investment.
Comparatively more of the accelerated ventures seem to be leaning into the IRIS and especially B Lab frameworks.
Benefits Sought from Accelerators
Meet Other Entrepreneurs
Awareness and Credibility
Business Skills Development
Mentorship from Business Experts
Securing Direct Venture Funding
Access and Connections to Investors
Network Development (ie partners and customers)
5
4.8
4
3.5
3.4
3.4
3.3
Average Rank (1 = most important)
Impact tracking systems – “Do you use IRIS?”
13%
87%
YesNo
Impact tracking systems – “Do you use IRIS?”
13%
59%
28%
Yes"We have never heard of IRIS"Other
Impact tracking systems – “Do you use B-Labs?”
7%
93%
YesNo
Impact tracking systems – “Do you use B Labs?”
7%
66%
27%Yes"We have never heard of B Labs"Other
Impact tracking systems – “Do you use some other system?”
26%
74%
YesNo
What’s next?
- Expanding out in 2015/2016 = more data!
- Expanded partnership with ANDE, accelerator-level research
- 2 PhD theses, many more to come
- 4 whitepapers this year
- Regional expansion over 2016
- Opening data in 2015 for academic and practitioner researchers
2015 / 2016 Plans
- Year-end summary is now live! bit.do/2014data
- Mailing list: eepurl.com/JBjQb
- Seeking additional accelerator partners for 2015/2016
- Seeking researchers who are interested in leveraging this data
Engagement
