Knowledge- The Best Quest
There is a humorous quote by Warren Buffet, “Only when the tide goes out, do you discover who’s been swimming naked.” This quote probably gives you a hilarious mental image, but “The Oracle of Omaha” was talking about the importance of measuring yourself and your company. With his colorful expression, he was referring to the importance of benchmarking.
Benchmarking involves taking a deep dive into an organization’s processes to analyze data and communicate performance and impact– as compared to peers. It is a daunting undertaking to design a meaningful methodology and provide an impartial, accurate picture of an organization relative to a larger group.
- Key performance indicators must be selected.
- The right questions must be asked.
- The analysis methodology must be developed.
- The results must be effectively delivered.
Most companies do not even attempt such an undertaking, but UBI Global has been daring to do this for many years in the form of The World Benchmark Study. And doing it well. The study has been recognized as the gold standard of assessing performance and impact in the global innovation landscape.
WHAT is the World Benchmark Study 2019-2020?
The World Benchmark Study is UBI Global’s signature research initiative to map the innovation ecosystem through analysis of impact and performance of business incubators and accelerators. The study is in its 5th iteration and is being sponsored by Qatar Development Bank, a global leader in economic development.
The study provides data and practical tools that incubators and accelerators can use to fine-tune their efforts, understand the recipes for success, and set goals- all to better support and drive innovation. The study attracts more than 600 programs from over 70 countries to benchmark themselves against their peers. Through participation, programs enter the UBI Global world rankings and recognition of top-performing incubation and acceleration programs. The study is administered online in the form of a benchmark survey.
For the first time, we are expanding the invitation list to include university-linked incubators and accelerators and those programs that are publicly-, privately-, and corporate- run. (We will not compare these groups against one another but maintain our peer-model of performance ranking.) Nine innovation experts from around the world comprise the Research Advisory Board. We work with them to ensures the soundness of our research methodology. They also help with data processes and data verification. The study measures the impact and performance of business incubators and accelerators in three main categories, seven sub-categories, and twenty-one KPIs.
WHO participates in the study?
The World Benchmark Study 2019-2020 is open for participation by business incubators and accelerators that are members in our interactive learning community. The study attracts over 600 programs of all sizes, located in more than 70 countries. Programs that are linked to universities, as well as those that are publicly-, privately-, and corporate- run are invited to take part. Not yet a member of our network of impact-makers? There is still time to apply for membership so as to qualify to participate in the World Benchmark Study 2019 – 2020 upon acceptance.
WHY should my program apply to participate in the study?
Business incubators and accelerators, like any organization, need to stay relevant and dynamic. It is essential to assess your program and understand its place in the local and global innovation ecosystem. While your program may be generating performance data, UBI Global is the expert on turning it into meaningful, intelligent analysis. Programs who participate in the study gain knowledge of their peers that would be almost impossible to get on their own. With the information gained, programs can adopt a culture of continuous improvement including pace setting, community building, identifying strengths and weaknesses, and assessing profitability
We can list at least ten compelling reasons why incubators and accelerators should benchmark their program here.
“Business incubators and accelerators who have participated in the World Benchmark Study tell us that its value is felt in three key areas:
- understanding one’s place in the global innovation landscape
- gaining information to help with setting goals and making improvements
- obtaining credibility and recognition to help with funding and partnerships.
Year after year, we receive positive feedback from participants who say that the process of taking the survey and the richness of the results prove invaluable in their growth and ability to make an impact.” – Dr. Holger Meyer, Head of Research, UBI Global
HOW and WHERE do I apply to participate?
The study is taken online, and it is available in English, Spanish, Portuguese, or Mandarin. If your incubator or accelerator is not yet a member of our interactive learning community, there is still time to apply for membership and get involved in the study upon acceptance. Apply for membership here. Members automatically qualify to participate and will be sent the benchmarking survey starting March 5th. We provide a guide to help participants go through the steps.
WHEN do the various stages of the study take place?
On 5 March, we will send the survey out to all qualified members with a return-by date of 19 March. Individual results and scorecard infographics will be delivered to each participant in September.
During the World Incubation Summit 2019, taking place at the end of October in Doha, Qatar, the world rankings will be released. The top business incubation and acceleration programs will be recognized during the event. In mid-December, we will release the full report to the world.
Are you ready to turn your data into insights?
P.S. The next study takes place in 2021- so don’t delay your quest for knowledge by another two years!
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