Basic Principles of Technology Business Incubators

Fundamental assumptions of successful incubators

•  Focus on Wealth Creation

  • Return-On-Investment, not Economic Development

• Encourage Entrepreneurship

  • Building a Business, not the Technology

• Provide Value to Tenants and Stakeholders

  • Value Comes in Many Forms

• Manage the Incubator More Like a Business Rather than a Nonprofit

  • Results versus Activities

Best Practices of Successful Technology Business Incubators

• Subscribe to the Fundamental Principles

• Structure the Incubator to Provide Value to Tenants and Stakeholders

• Recruit Tenant Firms With the Highest Growth Potential

• Recruit Top Private Sector Leadership to the Board

• Facilitate Access to Capital

• Become the Focal Point for Technology in the Region

• Be “Customer Service Focused” With Both Tenants and Stakeholders

• Provide for Adequate Operating Funds

• Every Tenant Must Be Held Accountable to Progress Against a Pre-Agreed Upon Business Plan