Innovation – that oh-so-elusive yet desirable trait touted as the engine for economic growth. After all, that’s what many countries and large corporations are attempting to do in trying to copy the success of Silicon Valley – Russia recently invested billions to make Skolkovo the Russian Silicon Valley, Chile with Startup Chile, the UK with East London and many other such attempts in Singapore, Berlin, Pune, Hong Kong, and Seoul.
So can innovation be identified, traced, and replicated? That’s what Bjoern Lasse Herrmann and Max Marmer are trying to find out with the Startup Genome Project. The project seeks to type startups, identify their developmental stage and the metrics that matter, and build a system to integrate the methodologies of many of the Valley’s leading thinkers such as Steve Blank, Eric Ries, Sean Ellis and Dave McClure. According to Blackbox, they have tested their approach with 50 startups in Silicon Valley, and their early prototypes suggest significant improvements in focus, iteration speed, time to pivot and effective outreach to mentors and service providers.
If you are a technology founder, you can can benchmark your startup and contribute information that will aid the project’s research.