Benchmarking is a process that allows organizations to improve upon existing ideas. This is important because it allows organizations to learn from their peers within the industry. A business incubator can learn how to improve their program by learning from other incubation program’s experiences. By benchmarking you set a baseline allowing you to recognize if your methods to improve quality are working against your measurements.
Benchmarking also stamps out politics by focusing on facts and providing the operating discipline you need to align services, people, process and technology with your chosen strategies. A disciplined approach to utilizing benchmarking and scorecard measurements:
- Forces the right questions to be asked and creates the motivation to improve efficiency and reduce expenses
- Drives the quest for new best practices that result in stronger performance and improved service delivery
- Identifies potential opportunities that can drop additional money to the bottom line and free up earnings and capital that can be invested in more strategic opportunities
- Ensures that performers are recognized over the promoters
We at UBI Global conduct the world’s most comprehensive global benchmark of top performing business incubation programs where more than 600 incubators in over 70 countries have participated since 2013. It allows business incubators and accelerators to become more efficient and competitive through measurement and visualization of performance impact.
Each incubator goes through a 5 step process to ensure the reliability, credibility, and development of the benchmark.
STEP 1 – Application
All incubators are required to apply through the UBI Global website, to consent their participation and to share high-level profile information of their program.
STEP 2 – Assessment
Each program is assessed by UBI Global operatives, available in more than 10 languages, during a 30-min call to validate the eligibility for joining the benchmark. Second and third-year participants are excluded of this step.
Step 3 – Benchmark Survey
Available in English, Spanish, Chinese and Portuguese, the incubators are surveyed based on the UBI Global benchmark framework, a.k.a. the Bhatli & Eriksson framework to measure incubator performance (2013).
Step 4 – Verification & Validation
All participants are asked after submission to physically or electronically sign and verify that the information provided is accurate. A select sample of the incubation programs is asked for in-depth interviews and extra quality control measurements.
Step 5 – Presentation
Every participating incubator’s benchmark performance is presented individually with an informative scorecard infographic. For paying programs more in-depth analysis, powerpoint slide decks, and private presentations are available.
The UBI Global world benchmark for 2017 – 2018 is currently open. We welcome your program to join!
– Ali Amin, CEO