WHAT IS A BUSINESS INCUBATOR?
Incubators assist entrepreneurs with active and appropriate management, technical, commercial and financial network as well as a creative growth environment. The process of incubators aims to provide knowledge companies with innovative approaches to economic development that in turn accelerate business growth. An incubator provides effective tools for new companies in tomorrow’s industry.
SISPs member incubators:
- evaluate approximately 4,000 business ideas on a yearly basis
- has nearly 800 companies (of which about 200 projects) in their environments
- employs 3,500 people in the incubator companies (of which about 1000 in incubators)
- include nearly 150 companies that annually attracts venture capital
Incubators differ from science parks (research and technology parks) in their dedication to startup and early-stage companies. Science parks, on the other hand, tend to be large-scale projects that house everything from corporate, government or university labs to very small companies. Most research and technology parks do not offer business assistance services, which are the hallmark of a business incubation program. However, many research and technology parks house incubation programs.