What metrics would you use to evaluate MaRS Discovery District's corporate innovation partnerships?

Introduction

Evaluating MaRS Discovery District's corporate innovation partnerships requires a comprehensive approach to product success metrics. To address this challenge effectively, I'll follow a structured framework that covers core metrics, supporting indicators, and risk factors while considering all key stakeholders. This approach will help us assess the impact and effectiveness of these partnerships in driving innovation and creating value for both MaRS and its corporate partners.

Step 1

Product Context

MaRS Discovery District is a leading innovation hub that connects startups, corporations, and other stakeholders to foster innovation and economic growth. The corporate innovation partnerships are a key offering, designed to help established companies tap into the startup ecosystem, access cutting-edge technologies, and accelerate their innovation efforts.

Key stakeholders include:

1. Corporate partners: Seeking to innovate and stay competitive
2. Startups: Looking for opportunities to scale and access resources
3. MaRS: Aiming to facilitate successful partnerships and drive economic impact
4. Government/funders: Interested in economic development and job creation

User flow:

1. Corporate partners engage with MaRS to define innovation goals
2. MaRS matches corporate partners with relevant startups or technologies
3. Partnerships are formed, and collaborative projects are initiated
4. Ongoing support and resources are provided to nurture these partnerships

This program aligns with MaRS' broader strategy of fostering innovation and economic growth in the region. Compared to traditional corporate accelerators or innovation consultancies, MaRS offers a unique ecosystem approach that leverages its vast network and resources.

The product is in the growth stage, with established processes but ongoing opportunities for expansion and refinement.