What would you do for data? Would you pay money, provide services, or barter with tools? How do different organizations exchange data in startup ecosystems?
In the modern era, data is becoming an exceedingly precious commodity. A digital transformation in economic development is taking place as data-driven policy development begins to shape the world. Startup ecosystem analytics will play a vital role in this digital transformation, fueling data-driven policy development in the startup space.
Startup Commons is working to help startup ecosystem developers adapt to this digital transformation by offering GovTech for economic development, specifically startup ecosystems. Our Digital Ecosystem Applications are designed to help ecosystem developers, support organizations, and startups exchange data in startup ecosystems. Since our tools are designed to facilitate data exchange, we would like to share with you how the transactions work.
As illustrated in the graphics, information flows between organizations and the digital infrastructure, which is centrally operated by the startup ecosystem development team. In order to make the data flow, larger entities typically provide money, support, and tools to smaller entities. As organizations share real data about their performance and developments, they can receive more money, support, and tools. This creates a positive feedback loop of information flow.
Once organizations begin sharing data between others, they can start comparing results on regional, national, and global levels. Our KPI Data Dashboard, a form of GovTech for economic development, enables government agencies policy makers and NGO’s to share and compare startup ecosystem statistical data with other regions to benchmark economic growth. Service providers can also use various Digital Ecosystem Applications to compare outcomes in the context of startup ecosystem analytics.
Business creators and startup teams can also compare their data, as well as business performance, with other startups in similar development phases and industries. The above graphic explains the various startup development phases. Startup teams can get started with visualizing and benchmarking their progress with tools like Business Plan Tool and others, provided in their ecosystem.
With broader understanding how to exchange data in startup ecosystems, we encourage you to reach out to us, to learn more about our Digital Ecosystem Applications. We help you connect, visualize, and benchmark your startup ecosystem, Contact us today.
Supporting startup ecosystem development, from entrepreneurship education, to consulting to digital infrastructure for connecting, measuring and international benchmarking.
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