What is business incubation?
Incubators nurture young firms, helping them to survive and grow during the start-up period when they are most vulnerable. Incubators provide hands-on management assistance, access to financing, and exposure to critical business or technical support services. They also offer entrepreneurial firms shared office services, access to equipment, flexible leases, and expandable space — all under one roof.
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: • hands-on management assistance • access to financing • business and technical support services • shared office space, access to equipment. Technology business incubators nurture high-tech start-up and present a technology oriented variant of business incubators.
