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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
The Startup Process


System of activities involved in mapping
creativity to need, and both to economic
value

People, ideas, technology – in that order

  – “Everything that can be counted does not
    necessarily count; everything that counts
    cannot necessarily be counted.” - Einstein
The Startup Process


How 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
Startup Success


How do university-based startups look at success?

  – Jobs are not a measure of success; they are [the]
    factors of growth
  – First sale
  – Reputation & credibility
  – Survival


Diversity of source, form complicate measurement
Startup Success

            UNIVERSITY-BASED ENTREPRENEURSHIP




THE 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
Startup Success


                    ⋅ Funding is an
                      important metric,
                      but…

                    ⋅ Not a measure of
                      success

                    ⋅ Measures the quality
                      of people, ideas &
                      technology
                      assembled
greenlitelabs.com
Engaging the Institution & Community


Trends in University-Based Entrepreneurship

  – Collaborations between University & Community

  – Tension between Quantity & Quality

  – Increasing Speed & Variety
Engaging the Institution & Community


Align 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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Modern Measurement of University-Based Entrepreneurship

  • 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. The Startup Process System of activities involved in mapping creativity to need, and both to economic value People, ideas, technology – in that order – “Everything that can be counted does not necessarily count; everything that counts cannot necessarily be counted.” - Einstein
  • 3. The Startup Process How 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. Startup Success How do university-based startups look at success? – Jobs are not a measure of success; they are [the] factors of growth – First sale – Reputation & credibility – Survival Diversity of source, form complicate measurement
  • 5. Startup Success UNIVERSITY-BASED ENTREPRENEURSHIP THE 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. Startup Success ⋅ Funding is an important metric, but… ⋅ Not a measure of success ⋅ Measures the quality of people, ideas & technology assembled greenlitelabs.com
  • 7. Engaging the Institution & Community Trends in University-Based Entrepreneurship – Collaborations between University & Community – Tension between Quantity & Quality – Increasing Speed & Variety
  • 8. Engaging the Institution & Community Align 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
  • 9. ?