The article is devoted to the development of a comprehensive methodology for evaluating the effectiveness of startup studios, organizations that systematically create technology companies through the parallel launch of projects. Despite the rapid growth in the number of venture studio initiatives and the impressive survival rates of their portfolios, there are no uniform criteria for measuring the effectiveness of this model yet. The aim of the work is to create a hybrid framework that will allow for a comparable analysis of the activities of studios of various types and scales, combining financial, portfolio, operational and qualitative indicators. The theoretical basis of the research includes a critical review of more than fifty academic publications and industry reports from 1995-2025, the empirical one includes semi—structured interviews with fifteen Russian and foreign startup studios, as well as an analysis of open data on 230 companies they have created. The methods were comparative and content analysis, descriptive statistics, and expert ranking of metrics. The final model combines indicators of the internal rate of return, cost multipliers, the average studio share in the capital, as well as survival rates, further financing and exit from projects. They are complemented by operational characteristics — the conversion of ideas into startups, the cost of launching, the speed of creating MVP and the timeliness of reaching milestones — and qualitative parameters reflecting the satisfaction of the founders, the strategic relevance of the projects and the studio's contribution to the ecosystem.