Exploring the Impact: An Overview of InBIA's Impact Index Report

Welcome to the first installment of our blog series dedicated to the InBIA's Impact Index report. Every few years, we undertakes this comprehensive study to achieve two primary goals: to provide industry standards for our members' benchmarking purposes and to assess the impact of entrepreneur support organizations (ESOs) in communicating their value. This year's report, based on data collected from FY23, includes insights from 97 ESOs across the country and internationally.

The Impact study identifies emerging trends and insights in the field of entrepreneur support. This blog post provides an overview of the respondents currently serving entrepreneurs and the types of programs included in the study.

InBIA, originally known as the National Business Incubation Association, was founded 40 years ago to serve business incubators providing space and services to help new companies succeed. In recent decades, many of the organizations providing incubation services have incorporated additional types of programming - accelerators, coworking spaces, demographic-specific services, university-affiliated programs, and more. Some still call themselves incubators but others have taken on other names like innovation centers. 

The Numbers

When given the opportunity to select all the types of programs they run, many ESOs report managing multiple types and models. The most common program type remains incubation, followed by accelerator cohorts and entrepreneur support hubs. 

Here's a snapshot of how ESOs responded when they could choose up to three different program types:

• Incubator: 65% identified as providing incubation services
• Entrepreneur Support Hub: The second most common at 54%
• Accelerator: 36% of respondents run an accelerator

A significant majority of ESOs operate as nonprofit organizations, with 87% reporting 501(c)3 status. Additionally, 54% of ESOs don't have a sponsoring institution, while 21% are affiliated with universities, 9% with government entities, and 8% with economic development organizations.

While 64% of ESOs report being sector agnostic, those with specific industry focuses highlight biotech, manufacturing, med tech, software, and clean tech as key areas. 

Furthermore, many ESOs serve entrepreneurs from diverse demographic groups. Of the 27 that said they have a demographic focus, with 74% focusing on disadvantaged communities, 63% on women, 37% on immigrant entrepreneurs, and 26% on veterans. 

The majority of ESOs operate in urban areas, with 50% of respondents identifying as urban, 26% as suburban, and 24% as rural.

This data reinforces the idea that our members come from a wide array of program types and focus areas, yet share a common mission: to support entrepreneurs in their journey to success. Stay tuned for future blog posts where we'll delve deeper into the impact these ESOs have on their local economies and the startups they serve. We'll also explore how your program stacks up in terms of revenues, expenses, staff salaries, and more.