IMM for accelerators and incubators

Accelerators and incubators aim to support the financial growth of supported enterprises, most commonly in the form of revenue, investment, and employee growth. While these programs are interested in measuring the impact of their programs long-term on participating businesses, data collection can be challenging. One of the most common struggles is getting accelerated businesses to reply to surveys in the months or years following their graduation from the program.

Survey falloff is very common the farther out a business gets from its accelerator experience. Additionally, attribution is difficult – there are many different factors that come together to generate business success. Business failure is attributed to different factors as well; for example, a business that successfully went through an accelerator program may have had to close due to the COVID-19 pandemic, which the accelerator obviously cannot control.

Best practices for measuring the impact of acceleration and incubation include:

Clearly define success. Success looks different for every accelerator and incubator program. Programs should aim to find a common set of metrics that indicate success across the enterprises in their cohorts. For example, does your program see increased investment, attaining profit, or job growth as success? Clearly define these factors, which will then inform your data collection practice.
Streamline data collection. Many accelerator programs mandate financial disclosures, along with other types of data sharing. Consider the natural points of interaction where data collection will be least burdensome. For example, consider adding baseline performance questions to an accelerator application form rather than requesting this information through a separate survey.
Cultivate your alumni network. Enterprises that “graduate” from accelerator or incubator programs will move on and continue to grow – and many accelerators fail to stay in contact with these businesses. This lack of engagement translates to poor survey response rates. Brainstorm ideas on how to cultivate and maintain contact with your alumni network, which can include webinars, further education, or networking opportunities.
Consider ways to support enterprises in their IMM journeys. For impact oriented enterprises, IMM may be hard to practice while in startup mode because of resource constraints. Accelerators or incubators could consider trainings, providing access to impact management platforms, or access to 1:1 consulting in order to build capacity for impact measurement and reporting.

Resources about IMM for accelerators and incubators

Advice for inclusive accelerators: how to measure and manage for impact

The Catalyst Fund

This report provides examples and case studies of accelerators, with suggestions for impact indicators to track. Specifically, it focuses on the IMM capacity of early stage startups and offers suggestions for integrating IMM reporting in

Learn more

Global Accelerator Learning Initiative

Aspen Network of Development Entrepreneurs (ANDE)

GALI, a partnership between ANDE and Emory University, is a multi-year longitudinal impact study on the effectiveness of accelerator programs on business revenue growth, investment, and job creation. In addition to GALI research and

Learn more

Measuring Accelerator Performance: Potential Metrics and the “4Cs”

The Ewing Marion Kauffman Foundation

This briefer provides an overview of best practices and suggestions for accelerators seeking to measure impact. It specifically highlights principles of consistency in data collection, coordinating data practices with standardized data such

Learn more

SCALE Toolkit

Argidius Foundation

SCALE is a comprehensive toolkit for evidence based business development services, developed by the Argidius Foundation. In addition to providing best practices for all aspects of entrepreneur support programs, a significant portion of the

Learn more

More Resources