Business Incubators

January 29, 2008 at 5:27 pm (Incubators) ()

Business incubators have been in the USA since 1960s and in the 1980s they started to bloom in the UK and Europe. Business Incubators are organizations that help companies that are just starting out to have a chance to group so they have a better chance to survive. There is both public and private incubators. Public incubators are for high-tech industries like science based business such as universities and research institutes. Private incubators are for profit firms that take a reasonable fee for there services. This type of incubator is for new firms that are just starting out in the business world.

Resources and service elements:

  • provision of physical space
  • management coaching
  • help in preparing an effective business plan
  • administrative services
  • technical support
  • business networking
  • advice on intellectual property
  • help in finding sources of financing

References:

Wikipedia Encyclopedia– Business incubators

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