The State of the Connecticut Entrepreneurial Ecosystem Survey

 

 

Overview of Survey Program

 

The survey program is run by a coalition of entrepreneurial and economic development organizations based in Connecticut. The coalition will conduct the survey quarterly and it will cover the entire state.

 

The survey will consist of two parts. One part will go out to the organizations that are part of the coalition. The other part will go out to the entrepreneurs they serve. The entrepreneurs will only complete the survey once, even if they are involved with more than one organization in the state.

 

This initiative has three goals:

 

  1. To produce a set of reliable data on the state of the Connecticut entrepreneurial ecosystem that organizations can use to improve programs and access to resources.

 

  2. To gauge the effectiveness of programs and services in the state for entrepreneurs.

 

  3. To provide better insights to our entrepreneurs about strategies and resources that their peers are using to address challenges.

 

 

Incentive to Particpate

 

We realize that people's time is in short supply and that for someone to take the time to fill out yet another survey there must be a strong incentive to do so. We believe that the larger the coalition of organizations participating in the survey, the more incentives there will be for both the participating organizations and the entrepreneurs.

 

For the organizations, participating in the survey will provide access to a data set much larger and more complete then they would be able to acquire on their own. Additionally, organizations will receive recognition for their programs through the promotion of the survey and through the reports generated from the survey that will go to all participating entrepreneurs.

 

In exchange for these benefits, we will ask the coalition organizations to support the incentives that will be used to attract entrepreneurs to take the survey. Organizations will be asked to promote the survey to their network of entrepreneurs and to participate at some level in meeting the financial requirements of the survey.

 

For entrepreneurs, there are three primary incentives that we will strive to provide. The first being access to a report of the results of the survey geared towards them. This report will provide insight into what their peers are doing, how they rate on various metrics compared to their peers and what resources their peers are taking advantage of that they too could take advantage of.

 

To attract their attention in the first place we will provide a reward program for participating entrepreneurs that will include free giveaways as well as entry into drawings for larger prizes. The scope of the reward program will be determined by the level of participation of the coalition organizations.

 

 

Survey & Report Format and Details

 

As mention, there will be a survey for both the organizations and the entrepreneurs. There will also be a reported generated for the organizations and one for the entrepreneurs.

 

The organizations survey will ask basic information about intake numbers as well as the number and activity level at events and programs. The survey will also ask high level information about investment of hours and money into programs and events targeted at Connecticut entrepreneurs.

 

The entrepreneur survey will have four components:

 

  1. Entrepreneur and business profile.

 

    a. This section will only be required the first time the entrepreneur participates in the survey

 

 

  2. Primary business metrics.

 

    a. This section will include three questions (revenue, new hires, new investment) and will be asked each quarter.

 

 

  3. Ecosystem usage.

 

    a. This section will ask about what resources in the ecosystem they used and how useful those resources were. It will also ask them about resources they are not finding in the state, but need.

 

 

  4. Topical survey questions.

 

    a. This section will change each quarter and will cover a specific topic, such as marketing channels, building a team, fundraising, etc.

 

 

 

The survey will remain open for 2 weeks after each quarter. Once complete the survey data will be compiled and reports will be generated and sent out.

 

The survey for the organizations will contain all of the raw data as well as summaries of trends and key findings. The report for the entrepreneurs will be dynamic and will show stats and graphs of the primary metrics, ecosystem usage and topical questions. The report will show the entrepreneur compares with their peers and will offer recommendations for resources that may help them.

 

 

Requirements for Coalition Organizations

 

Each coalition organization will be asked for three things. The first is to participate in the organization survey each quarter. The second thing we will ask is to promote the survey to their entrepreneurs. This can be done however the organization deems most effective.

 

The last thing we'll ask is to support the program at some level financially and through incentives for the entrepreneurs. The coalition committee will develop a budget and present it to the organizations. It will then be up to the coalition organizations to find the funds to cover the budget.

 

Incentives for entrepreneurs can be either in the form of a giveaway or drawing item. Giveaways can be things such as promotional products or discounts or coupons for services. Giveaways would be larger items such as electronics, free services or generally anything that any business could use.