The Challenge
A university-based accelerator program for deep tech early-stage startups that aimed to create innovation by transforming academic research into commercially viable ventures. The innovation program needed a way to measure its impact and use those insights to refine its approach.
The Method
We implemented a comprehensive impact assessment framework focusing on:
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Entrepreneurial skill development outcomes for academics and CEOs of the early-stage startups including championing, market sensing and coachability.
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deal founding team characteristics i.e. openness, role designation and goal alignment.I
Data was collected through surveys, interviews, and focus groups across different cohorts and roles trying to assess the impact of the university program
The Insights
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Researchers excelled in coachability but struggled with managerial roles
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Academics showed strong teamwork but weak opportunity assessment
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CEOs had strong networking skills but difficulty receiving feedback
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The program significantly improved business opportunity identification and non-academic network expansion
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Participants showed increased motivation for commercially viable research and mindset shift towards commercial applications
The Results
The university accelerator impact assessment revealed crucial insights, highlighting the insufficiency of a one-size-fits-all approach in innovation programs. Researchers needed managerial skills, academics required opportunity assessment guidance, and CEOs struggled with feedback reception. These findings led to a tailored approach for each role in the startup ecosystem.
The accelerator developed specialized modules: managerial training for researchers, business acumen workshops for academics, and feedback sessions for CEOs. A new focus on founding team dynamics and goal alignment was introduced to foster cohesion among diverse startup teams. This personalized strategy addressed specific gaps, enhancing the program's effectiveness in supporting the unique needs of each participant and strengthening overall team performance in deep tech startups.
This refined, data-driven approach yielded tangible results:
• 60.6% of ventures remained active post-accelerator
• 40.5% of active ventures reached sales stage
• 13.1% of ventures operated in more than 50 schools
The accelerator transformed its program, creating a more effective launchpad for deep tech startups emerging from academic research, ultimately contributing to the growth of the innovation ecosystem.