Cluster Member Map
Map out your cluster members to get a better overview and deeper insights into their growth stages and their capital needs. The Cluster Member Map gives you an idea of how well you know and understand your cluster members.
the Cluster Member Map
Understand your members' capital needs
Use the Map to gain insights into the equity capital need your members have. A typical innovation cluster of 100 – 150 members, can expect 25 % – 75% of the members to be at some fund raising stage. Make sure you really understand this and what challenges they are struggling with.
Upgrade your capital and entrepreneurship strategy
Once you have a reasonable estimate and analysis of the cluster’s aggregate capital requirement for the next 6 – 36 months, let this insight drive your capital and entrepreneurship strategy.
Deliver more growth capital
The real impact of the Cluster Member Map is simple; deliver more growth capital into the cluster and its members. Help build capabilities, investor readiness, access to capital and drive financial velocity across your cluster members.
Start Date: 4 November, 2019
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This actually helped us map out our members’ capital needs; completely changing our cluster capital- and entrepreneurship in the process.
Digital Health Innovation Cluster
Use Case: Health Innovation Cluster
A Nordic Digital Health Innovation Cluster was set up within the paradigm of Triple Helix. Focusing heavily on research-driven innovation and public funding for the first two years, the cluster CEO realized a step change was needed. Pivoting to the market, made them realize that most market makers were public organizations with complex purchasing structures.
Pivoting again, the cluster realized the need to focus on capital and entrepreneurship. Following a strategy process (using several of Strategy Tools’ Supercluster Series), the Digital Health Cluster decided to map out the actual capital need (investor capital need), its 100+ members had.
Using the Cluster Member Map to map out and analyze life stages (seven), and funding needs high-medium-low (using a member survey with actual $ data), the cluster CEO realized his members capital need was significantly higher than anything they had expected.
This led to a dramatic shift and upgrade in the cluster’s strategy for capital and investor readiness, kicking of multiple programs and activities to accelerate entrepreneurship and investor development at the cluster level.
How to Use it
Stick it on the Wall
For first time users, it is a good idea to print it in 100 – 120 cm format; or order from Stattys.com.
Stick it to the wall, ideally at the Cluster office or shared workshop space.
Start by understanding the purpose and structure. Bring in a few cluster member startups to get their insights in the early process.
Get Good Data
The Cluster Member Map requires data. Good data.
Design a survey to gather the key data from your cluster members.
This would typically include name, contact, company stage, investor readiness level, existing funding, funding requirement next 6 – 12 – 24 – 36 months and more. Just make sure you get good data.
Analysis, then Action
Once the data is in, analysis it. Dig into it. Try to gain insights and understanding from it.
But don’t get stuck in the research phase. Use these insights to drive action. Improve your cluster strategy and help solve the challenges your members (notably your startup and growth members) are telling you.