TEC Edmonton earned kudos from Dan Herman (@DanHerman) of the Waterloo-based Centre for Digital Entrepreneurship and Economic Performance, for our outcomes dashboard – measuring the revenue growth, external financing and job creation of our incubator/accelerate clients.
Writing a guest column in the Globe & Mail, entitled “Canada needs a reporting framework to help build entrepreneurial success, Herman bemoaned the lack of measured outcomes by business incubators/accelerators across the country.
Such metrics, he argued, gives governments and stakeholders an objective data-based assessment of the performance of an incubator/accelerator through the performance of the clients in areas that incubators/accelerators are meant to drive – notably revenue growth, external financing and job creation.
“The outcomes dashboard provided by TEC Edmonton is a great example of how this might be addressed,” he went on to say. “The organization provides annual data on incremental job creation, revenue generation and follow-on investment attraction recorded by their clients.
“This isn’t just about satisfying the demands of funders; it’s about putting accountability measures in place to ensure that the young firms and entrepreneurs who use these services are going to get good value for their participation and investment.”