And just like that it’s summer! It’s been an incredibly productive and fun year so far, and one of the initiatives I’ve been excited to be a part of is the “Impact Measurement CIP” series, which came out of the Unconference conversation at AtA at SOCAP16. Over the course of our working group calls, we’ve had very stimulating and engaging conversations on the current frameworks, tools, challenges and opportunities that we as impact accelerators face as we understand, measure and report both our and our cohorts’ impact.
Here’s a quick recap of those key highlights:
- Getting the data: Some of the key and consistent challenges impact accelerators face is getting data from entrepreneurs, as well keeping it up to date. Running multiple programs with different partners often adds complexity to this challenge.
- Diversity across the data set: Given all the different sectors, stages and types of businesses, there is a wide spectrum of data and impact, so homogenising the data can be challenging!
- Existing frameworks: As the impact space has evolved, there has been a substantive improvement in the realm of impact measurement, with a diverse set of frameworks (e.g. IRIS, B-Corp, Social Progress Index to name a few) that have been developed. These are setting the foundation for helping accelerators, entrepreneurs, fund managers and nonprofits to get a better handle on the impact being created.
- Choice of tools: In addition to impact measurement frameworks, there are also a range of measurement tools that have sprouted. Some that we had the pleasure of exploring during our calls include SoPact Platform, Effective Investing -Total Firm Value and others.
Given all this maturity and development, the world of impact measurement is starting to feel a lot less isolated. What’s even more heartening is the collaborative strength of our community, the openness of sharing challenges, common pain points and learnings.
In this spirit of more sharing, here’s a selection of the Top 5 resources we’ve come across recently to help advance the conversation on impact measurement:
- Accelerating Startups in Emerging Markets
- What’s Working in Startup Acceleration
- Los Angeles Cleantech Incubator Impact Report
- Acumen’s Metrics
- Toniic Sustainable Development Goal Framework
Enjoy reading this while you’re soaking in the sun this coming week. Also, if you’re looking for more good company on your impact measurement journey, come check out a webinar we’re hosting on August 22 at 8am PST. We’re lining up some amazing speakers from GALI and Toniic so it will be an action-packed and insightful conversation on how we can collectively help to move the needle on our global impact.
This post was written by Sana Kapadia, Chief Impact Officer at Spring Accelerator and CIP series leader.