Business Accelerators and Incubators: Improving Performance Measurement and Data Collection
A key element of the Innovation and Skills Plan is to strengthen Canada's network of business accelerators and incubators (BAIs) across the country. Many entrepreneurs now consider BAIs part of the start and scale journey. This has driven the demand for the launch of hundreds of BAI programs around the world and prompted questions on how differences across programs influence start-up performance.
Consistent with the Government's approach to defining outcomes and measures of success, in Budget 2016 the Government announced that it will work with stakeholders to develop a performance measurement framework (PMF) for BAIs in Canada. This BAI PMF will enable these organizations to benchmark their performance and drive improvement, help companies choose their best options for support, and assist governments at all levels in increasing the effectiveness of public investments in this area. Key metrics tracked will focus on national and regional priorities, including job creation, start-up growth, and entrepreneurship among under-represented groups, including women and Indigenous peoples.
ISED continues to work with stakeholders to advance a national discussion on best practices in performance measurement and reporting. To that end, ISED is working with a steering committee of leading BAIs to implement a pilot BAI PMF project, with the ultimate goal of standardizing and improving the quality of data reported by BAIs across the country. The BAI PMF Report linked below provides details on the initiative.
A significant number of leading Canadian BAIs have already agreed to participate in the pilot BAI PMF project. If your organization is interested in participating in this initiative or would like more information, please contact firstname.lastname@example.org.
Reports on this initiative are below:
- BAI Performance Measurement Framework Report, February 2018
- BAI National Dialogue Summary, March 2017
- Stakeholder Consultation Summary Report, November 2016
- Discussion Paper, September 2016
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