infoDev has released a business analytics toolkit for the managers of tech hubs, aimed at helping them analyse their performances, improve planning and collect data.
infoDev, a global multi-donor programme part of the World Bank Group, supports growth-oriented entrepreneurs through creative and path-breaking venture enablers, and is a supporter of tech hubs in Africa and the rest of the world.
Among other things, the new toolkit categorises tech hub business models and outlines the consequences of business model selection for business analytics strategies, highlights important considerations for tech hubs funded by governments and donors, provides guidance on how a good business analytics approach can be developed, and provides instructions on how tech hubs can use business analytics and performance measurement.
It is aimed at assisting tech hub managers in understanding how to conduct performance measurement, improving their planning, lesson learning, and delivery over time, and collecting the data needed to communicate to potential investors and partners.
“Dozens of tech hubs have emerged over the last few years across the globe. Managers of these innovation and entrepreneurship enablers grapple with problems that infoDev has experience with. This toolkit takes lessons that infoDev has gathered from its own tech hub pilots, mLabs and mHubs, and applies them to tech hubs in general,” infoDev said.
The organisation said the toolkit would be especially useful for current and future mLab and mHub managers. mLabs and mHubs are tech hubs established through grants administered by the infoDev Digital Entrepreneurship Programme.
“This toolkit is part of that agenda. It will help grantees to improve local implementation while setting a common framework on how to collaborate with infoDev on business analytics and performance measurements,” infoDev said.
The organisation said it developed the toolkit as tech hub numbers are burgeoning in developing countries, helping information and communication technology (ICT) developers and entrepreneurs to network, innovate, and start businesses.
“Set foot into a top-tier hub and you will be struck by the buzz and excitement that have infused local entrepreneurial communities within just a few years,” infoDev said.