Venture Capital Investment is inefficient, biased with a very high failure rate. This issue is very well documented. Kiota as a platform allows all VCs, Investors to use unbiased, big data, using robust AI by academically validated knowledge to assess project investment.Early stage startup analysis is complex and 70%+ of investments fail. Emphasis has always been put on TEAM is key, but to date no one addressed the big question of how do you measure team, compatibility, performance, experience, passion and vision. Kiota is SaaS that allows investors of all type to analyse key metrics such as team, passion, vision and provides an in depth report with survival expectation, growth potential, valuation score and much more to investors. Entrepreneurs can also self analyse their investment readiness by going through the process. Kiota presented in the Startup Commons Innovation Entrepreneurship Webinar series how to help investors to analyse startups and scale ups by using robust artificial intelligence algorithms, and providing predictive capacity. Get a quick understanding of Kiota here. ![]()
Early stage startup analysis is complex and 70%+ of investments fail. Emphasis has always been put on TEAM is key, but to date no one addressed the big question of how do you measure team, compatibility, performance, experience, passion and vision. On April 1st 2021 at 2.30 PM EET, Raul Estrada, CEO of Kiota, and Ali Parandeh, COO of Kiota, will present the Kiota SaaS product that allows investors of all type to analyse key metrics such as team, passion, vision and provides an in depth report with survival expectation, growth potential, valuation score and much more to investors. Entrepreneurs can also self analyse their investment readiness by going through the process.
The target group is especially Business Angels, Incubators, VCs as well as Entrepreneurs (free gift for entrepreneurs at the end). In the end of the session, there will be Q&A and experiences sharing from other ecosystem actors. Don't miss it out and book your place! Feel free to contact us (info@startupcommons.org) in advance with your questions/suggestions. And meanwhile, reach out to us if you have any questions or concerns. This webinar is a continuation of the "A Modern Technology Stack For Startup Ecosystem Orchestration" webinar we organised on February 16 in which we presented the conceptual model for next generation startup ecosystem development technology architecture. This time, we are presenting the set of tools that are part of ecosystemOS stack to initiate the journey towards managing ecosystem data as a key resource. Valto Loikkanen, senior advisor and cofounder of Startup Commons, will run the session, guiding participants through the following topics:
This webinar is intended for digital government leaders, IT development teams working for economic development agencies, managers, architects and engineers therein and other interested public servants as well as private sector partners and academia. Feel free to contact us (info@startupcommons.org) in advance with your questions/suggestions. Can't make it? No problem! Go ahead and sign up. We'll send the recording to everyone who registers for the event.
Both Global Enabler and Startup Commons believe that supporting innovation entrepreneurship is the best way to solve the problems that the world has and are worthwhile to be solved. Understanding one common global challenge around the need for Financiers and Founders to find new methods and instruments to build trust with each other but also to improve the matchmaking process, we also believe and share that unlocking data and building data-driven approaches are key to enable this new model and eventually bringing more efficiency to the process of evaluating and scoring companies. We presented HippoRadar, a digital tool to enable financiers and ecosystem actors alike to reliably and efficiently evaluate and rate companies for funding and support. Get a quick understanding of HippoRadar here. ![]()
Since 2013, Startup Commons has been focusing on helping cities, regions and countries put zero barriers in the way of entrepreneurs, innovators and job creators, becoming a strong but neutral partner for strategic execution to empower and enable local and business vertical ecosystems key private & public actors in designing, implementing and operating local ecosystems, contributing to the development of related economies and societies. Being no surprise to anyone, the year 2020 has been globally unique due to COVID19, where the effects on the market have been significant in many ways. One of them is that there has been a significant increase in the use of digital services and practices, and the perception of the benefits and new opportunities that come with their use. Essentially because in practice this pandemic showed the vulnerability of local startup ecosystems where a lot of the activities and services are based on the physical networking of people, often through various events, training, etc., which practically ended completely when meetings could no longer be arranged. In this new awakening era, there has been a clear recognition around the need to build and develop ecosystems in a different way with similar outcomes through the support of digital. As a result, ecosystem stakeholders (governments, ecosystem builders, support functions, private companies, investors and other stakeholders) are asking for more data, how to access high quality data, its utilisation and automation. Data at the coreTowards the end of 2020, driven by all these market changes and acceleration of all digital aspects in the markets, we made the strategic decision of putting data science at the core to unlock the predictive value of data generated by ecosystem actors and platforms to help ecosystem users navigate easier and faster within and between ecosystems and eventually help orchestrate to improve efficiency and strengthen the startup ecosystem as a whole, link ecosystem actors and improve decision making. Oscar Ramirez, cofounder and CEO of Startup Commons said, “We are just in the beginning of this new paradigm for ecosystem development. And the new tech stack we are proposing will be a true catalyst for change that will help solve the ecosystem challenges with technology”. As a consequence of the great prominence of digital, we decided to reorganize our activities into a new company, Digiole Oy. With digital DNA and born-global by design, Digiole encapsulates 12+ years of innovation entrepreneurship ecosystem development expertise to deliver digital services for globally crossing business vertical ecosystem development and also development of digital platform economy, platforms & digital ecosystems for international private companies. Digiole will unveil in its next webinar on March 9th the TechStack for digital ecosystem development: ecosystemOS, a set of technologies an ecosystem uses to build an open, connected and scalable ecosystem that serves all ecosystem players and stakeholders as a platform to smartly drive innovation. It is a combination of programming languages, frameworks, libraries, patterns, servers, UI/UX solutions, software, data models and tools used by its developers. On the other hand, Startup Commons will continue its operations focused on local and geographically focused ecosystem development needs, often driven by public sector and non profit activities in the early part of the startup journeys, and using these experiences and related knowledge to make them open and free for everyone to remove all kinds of knowledge barriers and limitations in order to empower people and organisations towards building a more vibrant business environment for entrepreneurs, startups and SMEs in general, and also for individuals to create new opportunities, jobs and new businesses. This new strategic shift will further enable us to also better support all of our open source services and offerings and also gives room for future shareholders, and investors to join us going forward. Innovation Entrepreneurship Content Fitting Your NeedsFollowing today's announcement, this reorganisation of activities will also impact on our communications. From now on, dear subscriber, you will receive two types of newsletters to serve you in a more effective way: one focused on innovation entrepreneurship knowledge sharing by Startup Commons, and the other one focused on digital ecosystem developments by Digiole. Doing it that way, we expect to deliver a better fitting content to your needs and eventually help bring you more focus on your own developments.
Digiole is confident that this move establishes cities and countries at the forefront of the next-generation of economic development. Being no surprise to anyone, the year 2020 has been globally unique duet to COVID 19, where the effects on the market have been significant in many ways. Regardless of the big impacts on the markets, we were able to react actively to this change, by monitoring signals in the market, reacting to them agilely, and conducting experiments, where some of the key observations were. Strong growth and acceleration of digital. Since the initial shock, COVID-19 biggest and most comprehensive impact on our own operations has been the significant increase in the use of digital services and practices, and the perception of the benefits and new opportunities that come with their use. Market has woken up widely to notice the vulnerability of local startup ecosystems to current functions. In particular, the local ecosystem efficiency, based on the physical networking of people, often through various events, trainings, the metabolis, etc. Which practically ended completely when meetings could no longer be arranged. - Towards need to recognize things in a way where similar outcomes must not only be possible but also made possible digitally. Other benefits of digitalisation, and in particular new opportunities for cooperation internationally, have also been noted. Significance of data. - There has been a sharp increase in understanding the benefits of available data and in understanding, illustrating, and reading data in general. The wider use of data and the utilization of data and automation obtained with the help of data has been one of the core promises of our own services. Key actions we took in 2020 During the second and third quarter of the year, while COVID shock phase was on globally, we decided to make all our eLearning content with ‘Growth Academy’ and 'Ecosystem Development Academy' free for the world. As an immediate action to start contributing towards new business creation and to help bounce back economies via ecosystem development knowledge and tools. Towards end of 2020, driven by market changes and acceleration of all digital aspects in the markets, we made a strategic decisions to accelerate our focus from consulting approach to growth via digital solutions approach. Along with this decision, we decided to reorganize our activities into a new company, Digiole Oy. To further focus on international growth with digital solutions. Digiole enables more clear structure and divide between Startup Commons innovation entrepreneurship ecosystem development activities and more broadly applicable digital solutions development under different brands and activities;
2021For 2021, our commitment for ecosystem development and digital transformation is stronger than ever. This is most clearly visible via our first collaborative ecosystem development project approach (see video presentation here), that we are focused to carry out starting on the first part of the year.
We all need a little bit of help to leave 2020 behind and look ahead and start 2021 with energy, motivated and excited. In the context of innovation entrepreneurship, especially for those that have the big responsibilities to create the conditions to generate more jobs, more innovative businesses and therefore more economic growth. We can’t do ecosystem development alone. We can’t do it with a silo thinking while the field just keeps developing too slow. It’s time to do things with a different approach, based on a better understanding of the ecosystem and designing things with ecosystem actors, for scale, for sustainability, for reusing and with an open approach to help to enable and increase true collaboration. Because of this, we have now designed a first privately led, global "collaborative ecosystem development project” that is part of a bigger and longer journey towards ecosystem digitalisation but starting as simple as possible by collaboratively developing and deploying an ecosystem mapping application as a shared project, after proper validation for years with many ecosystem builders and related actors all around the world, who see in this application one of the key modules to improve ecosystems performance. The core idea is that we have planned and calculated the direct and realistic costs of the project, and then, the more ecosystems will join, the cheaper it will get per each ecosystem. While at the same time, all participating ecosystems get the full outcomes and benefit from collaborative learning, while also being able to adjust/localise key aspects from local perspective as needed. We are looking at initiating this with a batch of 2-10 qualified ecosystems in Q1 2021 and we would love to see your ecosystem joining in this new journey with Startup Commons and really leading digital transformation and standard development for ecosystem development together with other ecosystems globally. Help is here. Together we can do more with less and faster!
This blog post describes a digital ecosystem application concept that has been validated with different startup ecosystems from all over the world. Written by the Startup Commons Team. What are we improving and why?A startup ecosystem is formed by entrepreneurial talent, business creators and businesses at various development phases, combined with various types of public, private and NGO support provider organizations typically in a city/region, interacting as an organic system to create new businesses and innovative companies. Different support providers focus on different parts of the ecosystem, business vertical and/or businesses at their specific development phases. Ecosystem builders are people and organisations building and facilitating an infrastructure of support services, knowledge and resources for entrepreneurs in their ecosystems. And this key task can be only as effective as the ability of ecosystem builders to understand at ecosystem level what is going on, what is missing, how it is performing and how to organise, document, coordinate, share and distribute the available resources to help everyone navigate the ecosystem. Additionally, startup ecosystems are fast, dynamic environments with many moving parts. There are new people, changing roles, projects, activities, events, as well as communities meeting and interacting every single week, so any manually collected information becomes quickly outdated. As such, any ecosystem’s manual mapping exercise can only be as complete as the available allocated time, resources and access to information for mapping each ecosystem, and it is also directly related to the constraints of the existing budget to carry out such effort. Due to the associated costs and efforts required, no individuals, institutions or corporations should need to repeatedly undergo such an expensive and time-consuming process. How are we going to achieve our goal?Startup Commons Team is developing an ecosystem mapping application on top of startup development phases framework to visually map and manage your ecosystem services and organisations. Manage full-service information with sharing and collaboration. The main purpose is to maintain and cater comprehensive and dynamic information about the available services with good search and filtering functions, as well as to be able to identify caps in available services for ongoing ecosystem development. Some key features are:
What are we creating at the end/along the way?As an ecosystem builder, they will have the ability to maintain a general sense of the types of key actor segments and organizations, their position in the ecosystem and regards to Business Creation and startup development, along with understanding their main function in the ecosystem context. At the same time the ecosystem is in constant change, where entirely new organizations & services emerge and others are ended. It is highly valuable to develop the ecosystem mapping in such a manner where a distributed data approach for the future is considered along the way. This included a considered design for how to start automating the mapping of ecosystem programmes and services and start standardising ecosystem information (data) collection. This would allow to repeat the process more cost-effectively in greater detail as needed and continue towards being able to get close to a real-time situational understanding of the startup ecosystem without the need for periodical, time-consuming, non-scalable, project-based approaches. Due to data standardisation, API interfaces and algorithms, making the ecosystem mapping application ecosystemOS compliant, ecosystem mapping process can be done in minutes.This leap forward in ecosystem dynamics evaluation allows you to keep your finger on the pulse of the connected ecosystem every single day. How do we measure our progress/outcomes?In this initial phase we are specifically looking at the conversation rate of the number of pilots planned vs executed Did you find it valuable?This blog post describes an ecosystemOS data pipe development that has been validated with different startup ecosystems coming from Europe, North America and Asia. Written by the Startup Commons Team. What are we improving and why?Startup events are at the heart of any ecosystem but often times the view of an ecosystem event schedule looks like as follows: This picture is quite usual in many ecosystems due to lack of visible startup events data to be shared that helps bring more coordination and collaboration among ecosystem actors. It really doesn’t help to schedule multiple events at the same time and target a similar audience. It would bring more efficiency if we could put all of the tech & business events data out there into a single platform so that events data can be accessed globally by different users and along with that it can also be transferred to other websites, blogs, online communities on user demand. How are we going to achieve our goal?Startup Commons Team is working towards Aggregating and Redistributing Startup Events Data globally and automatically. We will create a standardized data model (GraphQL Schema) for structuring data on Startup Commons side and making that data available via GraphQL API endpoint. Some of the attributes we are collecting are Event name, Event Organisation, ID, category, Date, time, timezone, description, format or website link. What are we creating at the end/along the way?Initially, to get more startup events data visible, identify key attributes of startups events and an integrated API service to enable data transfer within and between ecosystems. How do we measure our progress/outcomes?From Startup Commons point of view, we are looking at the quality of the startup events data model and the API performance. Regarding the data model, these are the main factors to consider:
Additionally, we could get static data from the model itself, data from usage of the data model, data from the comparison with similar data model. From API perspective, these are some of the KPIs we are looking at tracking:
Did you find this functionality valuable?In our tireless pursue to 'push the envelope' towards enabling ecosystem level digital connectivity, we have the opportunity to work with amazing new technologies like GraphQL, to unlock new flexibility than their predecessors like Restful API's. Sometimes in the process we notice that something new doesn’t have full support available for something how we want to use such technology, where we end up solving what looks like a common problem for ourselves. While building our own solution in such common problem, our basic approach is to release it to the public domain. Startup Commons, together with Prifina - a Silicon Valley based consumer and developer focused personal data platform and Grow VC Group is co-developing a GraphQL Data Model Editor, a complete application where business and technical users collide to create, document, edit, manage, publish, populate, test, verify and deploy ecosystem open standard data models. Standard data model development is needed to enable digital connectivity that allows ecosystem builders, developers, operators and other key ecosystem actors to share ecosystem data with peer entities supporting entrepreneurs and startups along the journey following MyData principles. Making data accessible to between ecosystem applications, allows collaborating actors to build a better ecosystem level user experience, where view into progress of building/supporting innovations is more accurate, and where ecosystem builders, developers and operators can compare, analyze, measure and orchestrate ecosystem development more effectively, to make more sound decisions. What We Have Built So FarHere you can see the clickable prototype. Feel free to add comments, questions, or suggestions. Here is the link to the Data Model Builder GitHub. Building and documenting the data modelDual-view, from “document” to SLS Encouraging the designer and developer to work together via dual views in text and SLS Testing The Data ModelPopulating and testing the data model (with test data)Visualizing and documenting the data modelPublishing and connecting the data model to AWSIn our internal setup, this published SLS data model can be deployed directly into AWS and used to spin up the needed backend setup. It can also be used to make amendments into the existing infrastructure, which naturally requires clear versioning, deployment protocols, and access controls. Further developmentWe see the need for further development in at least the following areas:
Connect With Us and Stay in TouchWe are scaling up our operations and building our digital team in different positions. What we are building is incredibly ambitious and we want to get inspired by anyone passionate about data, innovation and entrepreneurship, and as such, we have an open-door policy for those that want to get to know us, to connect with others and to share knowledge. We, as serial entrepreneurs, know and accept this risk but we don't know any other way to reach our vision for digital transformation applied to scaling innovation, entrepreneurship and ecosystem development. A tool to empower ecosystem builders with cutting edge capabilities to unlock ecosystem data and put data to work in favor of all ecosystem actors, bringing dramatic improvements in ecosystem orchestration. This is ecosystemOS.
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