In July 2020 the LaunchPad network conducted its second biannual reporting for the second half of the 2020-2021 school year (covering January-June). Again using the LaunchPad University Checklist to cover a variety of more specific programmatic, marketing, and operational strategies, the biannual survey remains focused on four key high-level metric areas:

1. Awareness and Programmatic Metrics
2. Equity (Diversity and Inclusion)
3. Financial / Budgetary Review
4. Post-LaunchPad Outcomes

In addition, as was the case with the January 2020 report, LaunchPad schools were asked to submit files including the LaunchPad Stewardship Council members, a more detailed budget, and a student venture tracker (and in the case of 2019 California expansion schools, copies of the Informed Participant Agreements). To help provide more tailored analysis, in this Metrics summary article, we’ve split schools into two groups - those with more than and those with less than 40,000 in total student enrollment. We believe this helps provide more valuable insight by contrasting schools where the LaunchPad network and its resources and programming are one of many entrepreneurship opportunities/partnerships and those where it is one of fewer.

Please find this summary of the biannual survey metrics from this second 2019-2020 report. As with the previous period, additional discussion including budget analysis was provided in LaunchPad network calls and individual conversations with Blackstone and Techstars Programmatic Directors.

1. Participation and Activity Metrics

Engagement. Recall, network "Engagement" is defined as any touchpoint with LaunchPad programming or messaging (a proxy for “Awareness”.) This may include in-person engagement in mentoring, at events, or even center drop-ins. It would also include virtual engagement with a school’s LaunchPad social media, inclusion on an email or enewsletter list, and virtual programming. 

Encouragingly (and somewhat surprisingly), engagement increased significantly from the July-Dec 2019 period through the Jan-Jun 2020 period. The average across all LaunchPad schools increased by 20%, but the increase from small schools was particularly significant: that average was up by nearly 43%. LaunchPad network schools reported a total of over 160,000 students engaged (up from nearly 128,000 in July-Dec 2019.) Increases such as these, especially given the campus-closing pandemic circumstances, clearly illustrate a need to review our Engagement-tracking metric.

In terms of specific types of engagement, not surprisingly, we saw a drop, albeit small, of in-person meetings and events, from 100% of respondents in the last period to only 96% this period. (Alternatively, text, email, and phone engagement increased from 91% to 100%.) Competition and event registration dropped from 96% to 88%, email sign-ups increased slightly from 86% to 88%, and with campuses closed February-May ‘tabling’ sign-ups also dropped from 78% to 64%. Types of engagement reported under “other” included: Student ‘swipes’, webinar and virtual event registrations, database/platform enrollment, and social media messaging.

Participation. Student “Participants” are those who have actively participated in two or more events or interactions. These LaunchPad events and programs include both global/signature offerings (like the Fellowship and Startup Weekends), as well as on-campus (and virtual) school-specific opportunities.

Unexpectedly, the average number of participants across all LaunchPad schools consolidated to within 20 individuals for both the Large- and Small-segmented schools. (This suggests that there may be a ceiling for student participation with existing resources.) The average for Large schools dropped by 30%, from 850 participants down to around 600, and the average for Small schools increased by nearly 20% from 500 to around 600. Total participants increased across the network from 12,184 to 13,999.

Events. The Events count, as described in the report, should include collaboration and co-sponsored events. The average number of events in this reporting period stayed very similar to the previous period, around 25 per school. (Even for the segmented Large group, the average number of events dropped from 31 in July-December 2019, to 21 in January-June 2020.)

Notable Trends. A number of schools reported some important trends that may impact the approach or strategy of LaunchPad programming in the future. Select responses included:

• The BLP Fellowship Program this summer was beneficial for the students accepted into the cohort and the non-selected teams signed up for a number of mentoring sessions. We hope BLP will end up doing another fellowship programs during the semester because this is a good tool to get more ventures into the pipeline.

• Decrease in engagement / We have noticed that DUE to COVID-19 we have had far less student engagement. However we have used this time to find ways to reach new audiences. We have noticed that we have reached students who were aware of the [LaunchPad] but were either too shy to join the community and or didn't feel they had the time to commit to outside academic opportunities… One-on-One consultations have increased along with small group meetings on zoom.

• We noticed greater engagement when we implemented the reverse class room model and provided more experiential learning for the students. Also we noticed that students are interested to work on systemic challenges like; climate change, food system, transportation, energy and social issues.

• 1. More student interest in navigating the job search / professional investment during COVID. 2. More interest in CPG – reflected in ideas and ventures.

• Female participation increased from 40% to 44% First-generation students participation increased from 27% to 36%.

• Increased diverse engagement (i.e. outside Engineering and Business)... Ex: Drama group applied to LaunchBox. Increased Digital engagement.

• The [LaunchPad] has experienced an increase in engagement in all areas of operation… This past year we launched our Experts in Residence program extending invitations to business leaders in Western New York to support our efforts, as we’ve noticed increased interest from students in engagement with professionals… After three years, our students increasingly appreciate the value add of working with LaunchPad and the access they have to a support system both internally and externally – we feel that we’ve officially earned ‘street cred’ with our students! …[We] believe the increase in engagement over the past year is due in large part to the strategic collaborations we have sought out and established with [Libraries], Career Services, and Office of the Vice President for International Education. 

• Technology startups still tend to be the leading ideas from our students.

2. Diversity and Inclusion

Diversity and Inclusion Policies and Practices. Perhaps most alarming in all top-line results is the drop in reported Diversity and Inclusion policies and practices. While 95% of schools indicated that they had these items in January 2020, only 48% indicate that in this most recent reporting period. A further concern is raised when only 58% of the approximate half with a D&I policy or practice communicate this in event programming, communications, or introductory communications, and only 42% communicate this information on their website.

Diversity and Inclusion Recruiting. Unfortunately, the number of LaunchPad schools reporting success with distinctly identified D&I efforts also decrease for 4 out of 6 previously asked strategies, with the largest drop being 13% fewer that hosted events in partnership with affinity groups on campus and 13% fewer that invited diverse speakers, mentors, judges, etc. to participate in LaunchPa branded events. Two new specific strategies asked in this period’s report focused on considering diversity as it relates to the Stewardship Council an student workers, mentors, etc. One school noted the important effort of featuring and promoting past participants from diverse backgrounds. (In the future, another distinct strategy will be asked around considering diversity as it relates to selecting program participants.)

3. Financial / Budgetary Review

Stewardship Councils. In this reporting period, 15 schools provided confirmation of a Stewardship Council and either the names or numbers of members. (This represents a 87% increase from 8 in the previous reporting period.) The average number of Stewardship Council participants also rose from 12 to 15. It is worth noting that while a larger advisory group importantly improves recognition of the LaunchPad network, there may be a limit to how large a group is effective. In addition, it may be useful to consider how many of the designated council members are actively engaged and how many are more included given their role or influence. Finally, as was described above, diversity and inclusion should be carefully considered when selecting new members to add to a LaunchPad Stewardship council. For more information on recommended best practices related to the LaunchPad Stewardship Council, please see the LaunchPad University Checklist.

Additional Funding. The average additional amount secured since inception now includes all schools and given the inclusion of a number of newer schools has dropped to just under $1 million (from $1.4 million in January 2020).

Similarly, however, it may be reasonable to assume that the longer a school is in the LaunchPad network, the more it should be able to raise from other sources. We see first year schools on average have raised just over $30,000. This increases dramatically to over $500,000 for schools that have been in the LaunchPad network 2-4 years, and 5+ years. (Note: Two schools’ outlier data was removed from this analysis because additional funding since inception for LaunchPad could not be segmented out of their very high funding entrepreneurship center funding levels.)

When asked about trends or significant fundraising-related details, respondents provided the following insights:

• Due to COVID, our additional funding efforts were paused.

• [Additional] funding received due to campus collaboration.

• We are exploring state and federal grants (e.g. EDA) opportunities in collaboration with local partners (municipalities and trade organizations).

• Building a relationship with the organization first before asking for sponsorship… Building a successful pilot program with students success stories to encourage partnerships and sponsorships [have been important]

• The strategy most critical to raising funds for LaunchPad is the cultivation of partnerships both at the University...  and in the [local] community… We believe a strategic and coordinated approach is central to our sustainability plan.

• Strategy, the approach that has been critical to efforts to raise additional funds: Working with... University institutional advancement and the [direct department LaunchPad rolls up to] executive team (Dean’s Office and… Advancement team) to create a compelling case for continuation funding, as well as specific requests to [University] donors. Building a good relationship with the cross-campus [University]  Communications and Marketing team, as well as [direct department LaunchPad rolls up to] communications team, to highlight success stories that support the LaunchPad’s mission and celebrate success… The LaunchPad website was redesigned in spring 2020 with a page that outlines giving opportunities...

• We have engaged potential donors on all levels of our programming, including meeting with current students, holding strategy/vision discussions, hosting them on discovery trips to other university entrepreneurship centers, and are currently evaluating other sustainability strategies, including additional program grants… We did apply for a grant from the Kauffman Foundation...

4. Post-LaunchPad Outcomes

Accelerator, Incubator, and Career Opportunities. Tracking students after graduation continues to be a challenge - however, it also remains an important metric of success. We’re pleased that between 10-20 schools in the LaunchPad network provided some data on student outcomes. However, only 42%-71% of these respondents were able to report or estimate the number of students 1. accepted into Accelerators, 2. accepted into Incubators, 3. continued work on their startup without the support of an entity like these, or 4. moved on into a more traditional career opportunity.

Encouragingly, however, confirming the adjusted focus on possible skill-benefiting outcomes beyond entrepreneurship, we’re pleased to report that 176 students moved on to jobs within the innovation ecosystem (i.e at startups, at innovation hubs, w/accelerators or incubators, innovation roles within established firms) and nearly matched the 178 that went on to Accelerators. This was seconded by students continuing to work on their ideas without entity support (198). Finally, 120 students were reported to be moving on to Incubators. (In future reporting periods we will ask that the “Accelerator” outcome be limited to non-university Accelerators programs.)