As you know, startups and scaleups need to deliver innovative products and get noticed, and that ain't easy. As you may not know, startups can leverage industry analysts for market leverage. And now we have the data to prove it.
Brand spanking new research on startups and industry analysts is launched and yours for the learning.
The renowned University of Edinburgh Business School conducted a study to understand this dynamic: "The State of Startups and Industry Analysts (SSIA)". They surveyed startups, industry analysts, and investors/accelerators to
understand the priorities, practices, and value these groups give each other. The University did a great job, and I should know? I helped lead the project, along with Chris Holscher, an European AR pro and colleague.
Some pertinent findings for your entertainment and education:
Visibility: While only 10 percent of startups think of buyer exposure as a key benefit from working with analysts, 79 percent of analysts say they work with startups specifically to recommend innovative emerging vendors to buyers.
Advantage: While two-thirds of startups believe broad availability of their products is necessary to get access to industry analysts, the majority of analysts want to hear from startups at or before beta stage
Momentum: 57 percent of participating startups and 63 percent of VCs and accelerators plan to intensify their activities with industry analysts in 2023.
According to Neil Pollock, Professor for Social Informatics and Innovation Management at The University, “This might prove the most impactful research for startups this year.”
According to me, an AR cheerleader, lifelong biz whiz, and startup enthusiast, this report has the data that practically shouts that startups and scale-ups need to leverage analysts to edge out larger competitors.
Learn more: go here to get a findings report, short video, and in depth video.
To understand what this means for you, let's talk. Applying the findings to an individual business is nuanced and depends on your space and business goals.
Most startups will fail to run with all this. Don't be that startup.