This blog post was written by Ian Haase, Vice President, Advisory Services at TechAlliance.
At TechAlliance, we spend a great deal of time monitoring and tracking the progress our clients make along the commercialization pathway.
How our resources impact the development of tech companies is essential, because this helps us to ensure we are delivering the right programs and services, at the right time, in the right way.
In my last post I provided a brief update on our total client numbers, industry breakdown and client stage. These are all important ‘informational metrics,’ but this is not the only thing we monitor.
We are also actively tracking other important ‘outcome metrics,’ such as sales revenue, jobs created/retained, patent activity, number of customers and international business development. This information is aggregated at the provincial level to report on economic activity in the region.
These outcomes are also vitally important to our team at TechAlliance, as we can use this information to help position clients for various funding opportunities.
For example, if a new funding program is targeting companies between 1-10 employees, with less than $1,000,000 in revenue, we can quickly determine exactly which companies may be interested. These sorts of opportunities come about all the time, and that is why it is essential that we maintain good information with respect to our active clients.
Between April and September 2012, we observed the following economic activity with respect to our clients:
- over $1.5M funding received (including federal /provincial programs and private investment)
- approximately $1M in new sales revenue; 38 jobs created and 311 jobs retained
- 3 patents filed
- 500+ customer demonstrations
- 51 new prototypes/beta’s developed
- 24 new products or services brought to market.
