The Economic Development Administration (EDA) has always been at the forefront of fostering innovation and growth in communities across the nation. In its latest initiative, the Build-to-Scale program, the EDA has selected a group of outstanding recipients whose projects promise to make a significant impact on economic development. As these deserving organizations gear up to implement their grant activities, one crucial aspect they should consider is selecting an external evaluator (Like us!!) to measure and validate the outcomes of their endeavors.
Before we delve into the importance of external evaluation, let’s take a moment to congratulate and acknowledge the exceptional organizations that have been chosen as recipients of the EDA’s Build-to-Scale program. These recipients have demonstrated a commitment to driving economic development, fostering innovation, and creating sustainable solutions to address local challenges. Their projects span various sectors, from technology and manufacturing to healthcare and beyond, showcasing the diversity of initiatives that contribute to the overall economic well-being of our communities.
Why External Evaluation Matters:
- Objectivity and Credibility: External evaluators bring a level of objectivity to the assessment process. By having an independent third party evaluate the outcomes of a project, the results are more likely to be viewed as credible and unbiased. This is crucial for organizations looking to showcase the true impact of their initiatives. (We can help measure outcomes and help with reporting)
- Expertise and Methodological Rigor: External evaluators possess specialized expertise in evaluation methodologies. They are skilled in designing robust evaluation frameworks, collecting and analyzing data, and deriving meaningful insights. This level of methodological rigor ensures that the evaluation process is thorough and reliable. (We can help show that you implemented a program as intended)
- Stakeholder Confidence: External evaluations enhance stakeholder confidence. Whether it’s funders, community members, or other partners, knowing that an impartial evaluator is assessing the project’s outcomes adds a layer of transparency and accountability. This, in turn, strengthens relationships and fosters trust. (You can use our reports to help court other funders and apply for additional funding)
- Learning and Improvement: External evaluations provide an opportunity for continuous learning and improvement. By receiving feedback from an external source, organizations can identify areas of strength and areas that need enhancement. This feedback loop is invaluable for refining strategies and maximizing the positive impact of grant activities. (We can provide recommendations for improvement)
- Adaptability and Flexibility: External evaluators can adapt to changing circumstances. In the dynamic landscape of economic development, unforeseen challenges may arise. External evaluators can adjust their approach to accommodate these changes, ensuring that the evaluation remains relevant and responsive. (When your program and activities change – we can demonstrate your programmatic evolution)
As the Build-to-Scale recipients embark on their transformative projects, selecting an external evaluator is a strategic decision that can amplify the impact of their efforts. The objectivity, expertise, and credibility that external evaluators bring to the table contribute significantly to the overall success of grant activities. By embracing external evaluation, these organizations are not only measuring outcomes but also demonstrating a commitment to transparency, accountability, and continuous improvement—a testament to their dedication to driving positive change in our communities. Congratulations to the Build-to-Scale recipients, and here’s to a future of impactful, data-driven economic development!
We work with high-growth startups and organizations that support the startup and innovation ecosystem. We build highly specific non-dilutive funding menus, provide proposal preparation services, and measure outcomes of funding through evaluation. Schedule a consult call with us HERE.