These indicators are however the result of many smaller activities present in a startup ecosystem that contribute to these higher level results - as any startup ecosystem is the sum of multiple variables of an unbalanced equation inherent to the interactions of the startup ecosystem itself.
So, as you can figure out, you need much information to talk about matureness of startups ecosystems. But most of all, you need a good understanding and analysis of your startup ecosystem at different levels and mapping it usually is a good starting point to set up new strategies and achieve a better economic development.
But the thing is that properly mapping a startup ecosystem is more than just to create a good map to show who is who in your city or region. It is crucial to work at different levels and in more detail:
- After mapping out all relevant organizations and services, you should introduce a common language and understanding among all stakeholders to start identifying startups at different stages and how to best support their progress from stage to stage
- You should then discuss everything around this and further identify any organization supporting startups, to which stage it caters for, in order to avoid replicated entities, focusing on better allocation of resources or to identify bottlenecks or gaps in services at some stages
- Implement rights and detailed metrics to measure your startup ecosystem performance as a whole, but more importantly at all services at all stages to better understand what activities best contribute to these overall results. ie. what to measure and what is the sub target being aimed
- To define how to best work collaboratively and connect services from one organization to another between all parties and how the information about startups, people and data is flowing on real time between core services
- Understand the current return of investments to innovation in for of impact and value creation
- How the services are being funded and how sustainable is your startup ecosystem in terms of overall and in most crucial operations
- Open data to show what’s happening in your area as the best marketing campaign to attract people, talent, investments, etc. and to benchmark your activities with other comparable cities and their startup ecosystem
We truly believe everyone should work on this model, as it makes the investments to growth and innovation truly visible and measurable - as only the things that can be measured can be improved. And the faster the feedback loop, the faster things can be improved.
Actually we are working with this model with few key cities like Helsinki at ecosystem level and even more broadly with independent organizations and we are clearly seeing that it is possible to build a vibrant startup ecosystem in a city in three to five years, what is half or less, compared to known average.
Future entrepreneurs and current startups deserve this new scenario that we at Startup Commons are creating and we encourage others to contribute and develop innovation, better, faster and with less resources.