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What is Business Incubation?
Business incubation is a dynamic process of
business enterprise development. Incubators nurture young firms, helping
them to survive and grow during the startup period when they are most
vulnerable. The goal of business incubators is to produce healthy firms that
create jobs and wealth, strengthen the economy, commercialize new
technologies and revitalize communities.
Business incubators provide:
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hands-on management assistance
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access to financing
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business and technical support services
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shared office space, access to equipment.
Technology business incubators nurture high-tech
start-up and present a technology oriented variant of business incubators.
New Concept: Hybrid
Business E-ncubator Without Walls
New
knowledge economy
creates brilliant opportunities for reinventing the traditional business
incubation model. Creating a virtual innovation society - actually, a
virtual Silicon Valley - for both both start-up firms and would-be
entrepreneurs is not impossible any more after web-based and integrated
Business e-Coaching and
project management
workspace models have been successfully launched.
The new hybrid
Business E-ncubator without walls can
not only think, but also act outside its box and provide effective
IT-enabled business e-coaching, match-making, and project management
services to thousands of its semi-virtual and virtual tenants - start-up
companies. E-coaching will also enhance the effectiveness of traditional
tailor-made training, mentoring, and consulting services as entrepreneurs
will have better preliminary understanding of the subject. In fact, business
consultancies usually don't like to waste their time on low-value activities
such as teaching first-time entrepreneurs basic business skills. Business
e-Coach can do it for them very effectively and free of charge thus enabling
reallocation of human resources from low-value to high-value uses.
Business e-ncubator can also extend its
activities to the pre-incubation phase and provide business e-coaching
services to hundreds of would-be entrepreneurs. E-coaching would help them
to refine their venture models and transit seamlessly from the
pre-incubation phase to the incubation one...
More
Success Story: Indiaco,
India - Private For-profit Business Incubator
Within less than two years in operation, Indiaco
has more than 40 tenants, 9 graduates (including one IPO and three
acquisitions), created more than 700 jobs, raised venture capital for 40% of
its tenant companies and generated more than US$ 3million in revenues for
itself...More |