Innovation enablers generate significant economic benefits, and TEN’s economic impact assessment methodology provides a quantitative means to reliably show the economic benefits that innovation enablers and business support programs have on economies.
Unlike typical economic impact analyses that use secondary data pertaining to employment, revenue changes, GDP, as well as estimates on outputs and assumed multipliers, TEN uses primary data collected directly from companies supported by innovation enablers. Our methodology enables us to report the economic impact that is directly attributed to the activities and services of innovation enablers as a consequence of the improved performance of companies they support, without using numerous assumptions.
Focusing on impact attributable to innovation enablers allows us to distinguish between improvements in firm revenues, jobs created, and financing raised, and the proportion that is a consequence of the innovation enabler’s investments and services.
We fully capture the impact that innovation enablers and business support programs have on their client companies to demonstrate return on investment and inform decision-making regarding future investments and activities.
The tables below summarize the elements predicting economic impact that we will deliver. Informed by our analysis, we will provide insights and recommendations to innovation enablers.
Economic impacts achieved through impacts on client companies
- Revenues earned by client companies, both total and proportion attributable to the innovation enabler
- Jobs created by client companies, both total and proportion attributable to the innovation enabler
- Equity financing raised by client companies, both total and proportion attributable to the innovation enabler
Contributions to economic prosperity
Aggregated economic impacts achieved through impacts on client companies:
- Aggregated totals of impact on company revenues, employment, and financing raised
- Cost-benefit analysis (ROI)
- Future economic impact projections
“We are very impressed by the clarity of results and the way TEN’s methodology naturally leads to meaningful conclusions.”
Chief Commercialization Officer, Proteocyte Diagnostics; former Senior Vice President, Ontario Centres of Excellence