Business Incubator and Economic Development

2008

The goal of this paper is to illustrate how certain entities within a region can have a catalytic effect on an area’s entrepreneurial eco system. This is especially important to areas that are sub critical in terms of entrepreneurial infrastructure but have decided to promote this type of industry in their regions. This paper is a case study of the Central Florida region’s efforts to diversify their economy through an economic development initiative based largely on developing local technology companies. We will show the interdependencies between the University of Central Florida and its Technology Incubator located in the Central Florida Research Park and the Greater Orlando area. The impact of the partnerships between the University and the local community entities is presented as a major reason for the Incubators’ success. The effort required to get all the important parties of influence to cooperate in the Orlando area is producing excellent returns for the region. The Incubator...

2013

2020

The aim of this research is to study business incubators and their role in entrepreneurship of small enterprises. The researchers used the descriptive and analytical approach in conducting the study. The questionnaire was applied as a tool to collect information on the selection of a random sample consisting of (35) individual distributed among entrepreneurs of small projects, the researchers have reached the following main results: 1. There is a positive impact between business incubators and entrepreneurship of small enterprises. 2. There is a statistically significant relationship between knowledge awareness and entrepreneurship of small enterprises. 3. There is a statistically significant relationship between infrastructure and entrepreneurship of small enterprises. 4. There is a statistically significant relationship between financial support and entrepreneurship of small enterprises. In the light of the research results, we recommend the following: 1. Continuing the disseminat...

International Journal of Emerging Sciences, 2011

Purpose: This paper explores, investigates and identifies the business incubators (BI) that are used worldwide for the development of entrepreneurial companies. Business incubation is a public and/or private, entrepreneurial, economic and social development process designed to nurture business ideas and start-up companies, and through a comprehensive business support programme, help them establish and accelerate their growth and success. Researchers and practitioners alike are claiming positive potential of BI diversify economies, commercialise technologies, create jobs and build wealth. The purpose of the study is, therefore to identify and develop the best practice of business incubation process based on successful implementation of case studies. Methodology/approach: The research methodologies adopted in this research study are desk-research and case study of 10 incubator organisations in the developing countries. Findings: The findings of this study indicate the business incubators as an effective and innovative tool in supporting the start up businesses. Practical implications: The empirical results highlight some implications for successfully developing and implementing best practice of business incubation program. Originality/value: This study makes a contribution to knowledge about the process of business incubation

2018

Small businesses play a vital role towards world economic development as they contribute between 40% to 50% of national Gross Domestic Product (GDP) as well as 70% to 90% of employment. However, besides their critical role, small business failure rate is alarming, ranging between 50% and 95% in their early years of existence. To reverse this trend, business incubators have provided required build capacity to start-up entrepreneurs and innovators thereby assuring their survival and growth. Having their roots in the 1950s and 1960s, business incubators have offered mentorship, skills building, technical support, training, facilities and venture capital. Globally there are over 7,000 incubators concentrating in various fields from science, economics, technology, marketing to business management. The success rate of businesses incubated is evident with 84% of graduates settling permanently in the community where they start businesses. The success rate of incubated businesses is evident ...

2012

usiness Incubation Centres have been receiving increasing attention as a tool to promote entrepreneurship, both in the developed and developing countries. They have become an integral part of the business assistance framework to offer critical support to newly formed enterprises. Recognizing its importance, all major stakeholders are trying to define, identify, measure, formulate and evaluate various aspects related to these programmes. Business incubation initiatives have arisen especially over the last decade with varying degrees of success in different parts of the world. Many countries including India are still experimenting with it to foster entrepreneurship.

International Journal of Entrepreneurship and Innovation Management, 2003

Incubation has recently attracted increased attention as a model of start-up facilitation. Venture capitalists see incubators as a means to diversify risky investment portfolios, and would-be entrepreneurs approach incubators for start-up support. Incubators face the challenge of managing both investment risks and entrepreneurial risks. More than a thousand incubators have been established in the last few years, most of them as regional business incubators. But new types of incubators are emerging. These incubators pursue different strategic objectives, apply different skills and competencies, and serve different markets. As a consequence, they have developed a new understanding of their sources of competitive advantage and business models. Based on 41 interviews with incubation and R&D managers, this paper outlines five incubator archetypes: the university incubator, the independent commercial incubator, the regional business incubator, the company-internal incubator and the virtual incubator. We describe a generic incubator business model, which is refined for different value propositions to customers and other major stakeholders. We conclude that whether an incubator is for profit or not, it should be run as a business. We also summarise some implications for operational and strategic management of incubators, as well as policy and strategy considerations for universities, venture capitalists, municipalities, corporations and other parent institutions of incubators.

Technological progress and entrepreneurship will change the economic conditions of the country. There is a huge gap between the research findings and commercialization of idea. The gap between the business idea and the real time market can be bridged by the Business Incubator. BI are newer and popular organizational forms that are created, often with the help of economic development agencies, to support and accelerate the development. The paucity of research on business incubation forms the interdisciplinary or multidisciplinary perspectives that consider the different theories of management, organization, strategy, economics and business. The complex nature of BI means they are studied from broader analytical frameworks. Therefore, the aim of this study is to analyze the content and evolution of BI research, identifying the subjects, research methodologies and levels of analysis, as well as the most outstanding authors and articles of greatest impact. The type of incubator, roles, stakeholders in BI, Agri Business Incubator was also reviewed.

2005

The genesis, development, and proliferation of business incubators are well documented. However, fundamental questions pertaining to their origins and evolution as the dominant organizational form for promoting institutional entrepreneurship and stimulating new business formation have not been posed. The origins and evolution of business incubators, as a collectivity, were traced to the presence and emergence of a range of discontinuities in multiple and diverse environments which threatened the social, economic, and financial security of communities and generated tremendous opportunities simultaneously. Consequently, perceptions and interpretations of the meaning and significance of these discontinuities among institutional stakeholders led to the strategic and instrumental deployment of business incubators as a tool to leverage or stabilize emergent discontinuities in the environment.

There has been great interest globally to increase the survival rate of SME's, owing to their innate potential of spurring economic growth, creating employment and poverty reduction. The motivation of this paper was to find out if there is a relationship between the number of incubators in a country and the Gross Domestic product. The study surveyed selected countries in Asia, America's, Africa and Europe. The study used historical data published and through content analysis and statistical analysis was able to establish a strong relationship between the numbers of incubators a country has influences the country's GDP very strongly.

The purpose of this paper is to identify the critical activity of business incubators which were used to stimulate the economy. Initially the study pursued the milestone activity of business incubator organisations. This paper provides evidences which are based on current literature concerning business incubators as an effective and innovative tool of economic developments. Business Incubation Programs are aimed at promoting economic development of its community by supporting start-up companies and their business development. Business incubation programs support diversified economies, technologies' transfer, create jobs, build wealth and commercialise innovation. The research methodologies adopted in this research study are literature reviews and case study of 5 international incubator organisations. However, the paper provides guidance schedule of business incubation for adoption of such programs in order to stimulate the economic development cycles worldwide.

2021

The role of business incubation in fostering entrepreneurship and SMEs development has generated a strong interest among policymakers in recent years. Even among scholars, there is a general consensus that entrepreneurship is pivotal to economic growth in both developing and developed countries. This study investigated the role of business incubators on entrepreneurship and SMEs development in Nigeria. The population of this study comprised of 60 incubatees in Oyo and Lagos State National Board of Technological Beneficiaries (NBTI). Yamane formula was employed to determine the sample size. The sample size for this research study was 60 respondents (30 incubatees in Oyo State and 30 incubatees in Lagos State). The sampling validity was used to access the validity of the data. The study made use of statistical tools which include: analysis of variance (ANOVA) and correlation efficient in testing hypotheses where applicable. The responds gotten from the questionnaire was sorted, coded and the Statistical Packages for Social Sciences (SPSS) was used for the analysis. This study found that business incubation coaching has a positive significant on human capital management towards entrepreneurship performance and also revealed that incubation business knowledge has a positive significant on the sales turnover level of entrepreneurship performance. This research has shown that 70% of the all startup ventures that survive the first three years of operations passed through the incubation programs. The study recommended that the incubation centers should emphasize more on their coaching and technical knowledge, as the result of findings shows that coaching and technical knowledge acquisition contributes 61.3% and 73.6% respectively towards entrepreneurship performance in terms of human capital management and their productivity performance level.

The purpose of this paper is to examine the design and operations of business incubators in Trinidad and Tobago as facilitators of entrepreneurship development. The study results are expected to serve as a guide to the establishment of incubators in small island developing states.

Journal of the Knowledge Economy, 2012

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Visnik Zaporiz'kogo nacional'nogo universitetu. Ekonomicni nauki, 2019