Venturepreneur:
Business Incubators

Tests and Evaluation Forms

Effectiveness Evaluation Checklist for Business Incubators

 

Vadim Kotelnikov personal logo Vadim Kotelnikov

Founder, Ten3 Business e-Coach Inspiration and Innovation unlimited!

 

The following questions are designed to get you thinking about the incubator's strengths and weaknesses.

The check-list can be used by both incubator managers and prospective tenants in their decision making process.

0=None    2=Poor    3=Fair     4=Good    5=Excellent

Evaluate Services Provided by Your Incubator to Its Tenants

Score

Facilities:

1

Offices

2

Office equipment

3

Telecommunications

4

Laboratory / prototyping / testing equipment

5

Meeting rooms

Sub-total (max=25)

Business Development Services:

1

Provides coaching / e-coaching on business skill and business model development

2

Provides business extension services (accounting, legal, secretarial support, etc)

3

Provides assistance in preparation of business plans

4

Provides assistance in building the business management team

5

Organizes business development training programs

6

Provides milestone-based operational guidance and technical assistance

7

Provides market research and product marketing assistance

Sub-total (max=35)

Assistance in Fund Raising:

1

Has its own seed investment fund

2

Facilitates access to public business development funds

3

Established a network of private investors (business angels, venture capitalists)

4

Helps tenants prepare their projects to start-up venture financing

5

Organizes presentations of tenants' projects to prospective investors

Sub-total (max=25)

Networking & Building Partnerships:

1

Established a network of critical business service providers & negotiated special arrangements with them

2

Provides training and advisory services on building strategic business partnerships

3

Organizes regular (e.g. weekly / bi-weekly) networking meetings for tenants and investors / prospective business partners

Sub-total (max=15)

 

Total (max=100)

 

 

 

 

Evaluate Your Incubator Management Practices

Score

Mission & Operations

1

Has a clearly identified mission and program goals

2

Has developed strategic plan containing quantifiable objectives to achieve the program mission

3

Has developed a business plan and monitor continuously its implementation

4

Maintains a management information system and evaluates regularly program activities

5

Incorporates program changes as the result of regular thorough and systematic evaluation

6

Maintains effective strategic alliances and collaborations with potential partners in all its service areas

7

Subjects its finances to an annual outside audit

Sub-total (max=35)

Governance & Finances

1

Has sponsors and supporters capable of ensuring its continued operation and effectiveness

2

Has a board, sponsoring agency and investors supporting the mission statement of the incubator

3

Has a governance structure that contributes to effective program operations and tenant services

Sub-total (max=15)

The Team

1

Has management that keeps abreast of incubator industry best practices

2

Sets the staff salaries at high level to attract and retain people capable of running efficiently the incubator programs

3

Is adequately staffed to meet the key needs of and provide efficient services to its clients

4

Has written job description for staff and evaluates staff annually through formal reviews.

5

Strongly supports staff professional development.

Sub-total (max=25)

Tenant selection, monitoring & graduation procedures

1

Has well defined tenant selection criteria and selects only applicants that meet these criteria

2

Regularly  collects information on client performance results

3

Reviews client financial statements on a quarterly basis at minimum

4

Effectively utilizes new technology & business management software tools in its operations

5

Has a formal benchmark-based graduation policy

Sub-total (max=25)

 

Total (max=100)

 

 

 

 

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