Data Analytics: What do Accelerators and Incubators Need to Know?
Sarah Cheeseman, 10 July 2023
Whether you’re focusing on early-phase startups that are in the product development phase, or speeding up the growth of existing companies that already have a viable product offering, the game is the same: find the businesses that have the most potential.
While this may seem relatively straightforward, especially for programmes that have a set structure for attendees, it’s often a time consuming and difficult process. Weeding out companies that aren’t suitable—say, they aren’t at the right stage of their development, or perhaps don’t have a clear path to profitability—requires research, assessment and clear decisions.
This is where data analytics come in.
Why is data analytics important for accelerators and incubators?
Data provides you with a single source of truth that can’t be argued with or misunderstood. For decision-makers at accelerators and incubators, it offers a solid foundation on which to assess whether a business is right for their programmes.
But as you know, data alone won’t give you the whole story. It’s how you read, analyse, understand and action the data insights that make the difference. The accelerators and incubators that are taking advantage of data analytics are the ones that are really making progress in their sector, leaving behind more traditional ways to find attendees.
What kind of data do accelerators and incubators need?
There are a number of different data points that can help with not only identifying companies to work with, but also measuring progress and outcomes. Some of these include:
1. Patent data
Early patent filings are a great indicator of innovative companies that are doing exciting things. It’s a great place to start when looking for businesses within a chosen sector who may be applicable to join an accelerator.
2. Grants and funding
Similarly, being able to identify companies that have been through grant schemes or raised funding through other investment programmes can be another great way to find businesses. These companies are likely to be at the right stage in their growth to benefit from an accelerator or incubator opportunity.
3. Links to universities
If a company has had a previous link to a university, either through grant funding or as a spinout, this can be a really strong indication that they have backing from an established institution. This is something which will usually signify a good amount of potential in an accelerator or incubator programme.
4. Founding teams and directors
The people that make up the founding team or board of directors are often pivotal when it comes to the success of a company. Having data on who is within the team at a business, as well as information about their past experience can be really helpful when it comes to identifying potential attendees, as well as tracking alumni to understand how successful their ventures have been.
5. Industry-related data
For accelerators and incubators focused on specific industries or sectors, keeping your ear to the ground is key. Using data to understand the markets—what’s doing well, what isn’t—can help you to decide where potential investment should be focused on for future cohorts. This can also give you an advantage over your competitors, promoting your specialism in some of the more niche markets and attracting attendees that they’re unable to.
Where to look for high-quality data
There are almost endless sources of data for companies in the UK. Companies House is one of the biggest and best known tools for finding out more about registered companies. While it’s a vital source of information—for financials and people, it’s inefficient when it comes to research and only enables you to find information when you know exactly what you’re looking for. Furthermore, as many companies only update their accounts once a year, it can mean you’re making decisions based on information which isn’t up-to-date.This is just one of the reasons why a specialised data platform is the best solution for leading accelerators and incubators,
Our comprehensive data platform brings together information from various sources to create one searchable database. The BeauhurstInvest platform is one of the leading data platforms available.
Our platform allows users to search across every private UK company. Using keywords and terms you can discover detailed, accurate information on companies and people, perfect for building targeted campaigns. BeauhurstInvest was built specifically for investors, incubators and accelerators looking for the leaders of the future. Not only do we cover 5m+ UK companies, BeauhurstInvest enables you to conduct data analysis to build an accurate and reliable picture of your chosen market or sector.
What makes BeauhurstInvest different?
We source data from HMRC to the European Patent Office, Companies House to news sources, to create the ultimate company data source. Our 60+ data analysts, developers and advanced machine learning tools ensure our data is always reliable and up to date. We developed our platform to enable users to find the actionable insights they need to make fast, definitive decisions.
Alongside the typical data points that you would expect to see (patent, grant and spinout data, for example), we are also the only provider to include unannounced funding rounds in our insights, meaning our clients have an unrivalled advantage when it comes to finding companies with huge potential.
We never leave our users high and dry. Our team of Account Managers and Client Experience Managers work tirelessly with users to help them get the most out of Beauhurst data. To find out more about how we can work together, get in touch today or book a demo.
Explore the platform today.
Get access to unrivalled data on all the companies you need to know about, so you can approach the right leads, at the right time.
Book a demo today to see all of the key features of our platforms, as well as the depth and breadth of data available.
An associate will work with you to build a sophisticated search, returning a dynamic list of organisations that match your ideal customer profile.