S. E. C. U. R. E. Framework
Concept
Startups need help validating their business ideas and models in the early stages of their life cycle. Considering the hazardous nature of a startup, evaluation of its business model is deemed necessary. However, evaluation frameworks for startups are underdeveloped, and their ability to evaluate startup business models comprehensively is under-examined. As a result, subjective and narrowly focused measurement criteria are used to assess startups without adequate research evidence. The startup evaluation calculus using research evidence (SECURE) comprises measurement criteria from multiple functional domains to measure all possible startup success factors. This intelligent scale proposes a comprehensive evaluation framework, the measures of which are informed by theory and research. These functional domains include opportunity, marketing, operations, management, and finance.
The SECURE framework aims to enable educators, investors, policymakers, researchers, and entrepreneurs to evaluate startups effectively and conclusively using a quantitative rating scale. Further, the SECURE framework provides a set of recommendations for each of the assessed criteria, which will aid in decision-making and improve startup business models. Finally, the SECURE framework can be empirically applied in most industries and research settings.
The Process:
Take the SECURE survey, which will use the input information to assess the startup's readiness level with readiness scores and provide recommendations for each of the SECURE dimensions. Once SECURE generates the readiness scores, it will also consider the user's location, and through AI-powered algorithms, it will assess the business model's strength in a given site. The final readiness score will quantitatively evaluate the powers of the business model and location parameters.
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Disclaimer:
The measures and readiness level are for indicative purposes only. It does not guarantee startup success. Please seek advice from the developers in case of doubt.