Article

Incubators: There and back

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  • Holberton Group Inc
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Abstract

Good ideas don't always translate into profits, as the experience of for-profit Incubators shows.

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... Thirdly, it is situated in broader institutional and cultural contexts. The literature (Finer and Holberton, 2002;Grimaldi and Grandi, 2005;Bergek and Norrman, 2008;Ahmad, 2014;Lai and Lin, 2015;Mungila-Hillemane et al., 2019) indicates that there are three types of incubation process: ...
... In delivering business development initiatives, the BICs support: skill development, low-cost resourcing, knowledge and technology transfer, the commercialisation of research and access to markets (EI, 2021). The BIC initiative is used for this study because the centres provide examples of the three incubation processes: diagnosis and treatment of business problems, new enterprise development and spin-outs/offs (Finer and Holberton, 2002;Hackett and Dilts, 2004b;Thompson and Downing, 2007). The outcomes are studied over a 15-year period, based on the experiences of five different cohorts. ...
Article
This paper presents a conceptual framework based on a literature review and the findings from an empirical study using data collected from entrepreneurs (business incubatees) over a 15-year period (2004–2019). This papers aim is to discuss and propose areas to consider when (re)designing business incubation. The data set is based on the experiences of five different cohorts (n = 100), each of which spent 18–24 months participating in a start-up programme sponsored by a business incubation centre (BIC) located in Ireland. To add further depth and nuance to this paper’s findings, an expert focus group was undertaken. The findings highlight the importance of different activities and skills in a BIC over time and recommend the inclusion of a number of activities in a BIC framework. The activities include continued professional development (CPD), action research, participation in a simulation, development of emotional intelligence, leadership skills and mindset and critical reflection. This paper presents an appropriate conceptual framework for the (re)design of business incubation. The framework facilitates an improved understanding of the evolution of entrepreneurial activities and outcomes associated with engagement with a BIC. Originality/value BIC 4.0, as described in this paper, proposes success as multi-faceted and including space, facilities, networks, mentors, professional development, reflective practice, emotional development and engagement with continuous professional development.
... As incubadoras de empresas oferecem infraestrutura física e gerencial para indivíduos empreendedores que possuem ideias promissoras, para transformá-las em negócios reais e sustentáveis (FINER et al., 2002). Observa-se que além de oferecerem espaço físico elas também fornecem acesso a fontes de networking, recursos financeiros, tecnológicos e organizacionais (KILCREASE, 2011). ...
... As ações desenvolvidas para fomentar a cooperação entre as empresas sediadas na incubadora e a universidade apresentadas foram reuniões mensais, participação em eventos, eventos periódicos de networking, workshops com pesquisadores, apresentação de investidores, banco de oportunidades, cursos, treinamentos com empresários da comunidade em geral. Considerando que as incubadoras de empresas oferecem infraestrutura física e gerencial para pessoas com ideias de negócios empreendedores e promissoras (FINER et al., 2002), procurou-se medir a partir da visão das incubadoras a importância dos serviços prestados para o sucesso das empresas incubadas. ...
Article
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A criação, desenvolvimento e manutenção de pequenas empresas frente a um cenário competitivo geram instabilidades e incertezas. Para que isso não ocorra, as empresas buscam estratégias que auxiliem sua estabilidade nesse mercado. As incubadoras de empresas colocam à disposição essas garantias oferecendo serviços que amparem as incubadoras. A pesquisa teve como objetivo identificar as percepções de gestores de incubadoras e incubadas sobre o processo de incubação. Foi realizada pesquisa de natureza qualitativa de caráter descritivo. A coleta de dados foi por meio de questionário semiestruturado respondidos por 4 gestores de incubadoras e 11 gestores de empresas incubadas. A análise de dados foi realizada de maneira interpretativa. Os resultados obtidos indicam que todas as incubadoras possuem gestão da performance, oferecem serviços base, técnicos, de gestão, estratégicos e realizam seleção de empresas. Os fatores percebidos pelas incubadoras que impactam na performance das incubadas são qualificação e network. As incubadas são empresas de tecnologia e estão há pouco tempo no processo de incubação, sendo que o motivo que levou a participação no processo é de usufruir do espaço alugado e de outros recursos. As incubadas citam que para que haja o sucesso nas ações com as universidades é necessário qualificação e network.
... As incubadoras de empresas oferecem infraestrutura física e gerencial para indivíduos empreendedores que possuem ideias promissoras, para transformá-las em negócios reais e sustentáveis (FINER; HOLBERTON, 2002). Observa-se que além de oferecerem espaço físico elas também fornecem acesso a fontes de networking, recursos financeiros, tecnológicos e organizacionais (KILCREASE, 2011). ...
... Considerando que as incubadoras de empresas oferecem infraestrutura física e gerencial para pessoas com ideias de negócios empreendedores e promissoras (FINER; HOLBERTON, 2002), procurou-se medir a partir da visão das incubadoras quais os serviços prestados influenciam mais no sucesso e suas empresas incubadas. ...
... As incubadoras de empresas oferecem infraestrutura física e gerencial para indivíduos empreendedores que possuem ideias promissoras, para transformá-las em negócios reais e sustentáveis (FINER; HOLBERTON, 2002). Observa-se que além de oferecerem espaço físico elas também fornecem acesso a fontes de networking, recursos financeiros, tecnológicos e organizacionais (KILCREASE, 2011). ...
... Considerando que as incubadoras de empresas oferecem infraestrutura física e gerencial para pessoas com ideias de negócios empreendedores e promissoras (FINER; HOLBERTON, 2002), procurou-se medir a partir da visão das incubadoras quais os serviços prestados influenciam mais no sucesso e suas empresas incubadas. ...
... Weltweit existieren heute etwa 3.000 Inkubatoreinrichtungen wie die deutschen Campbell et al. 1985;Campbell/Allen 1987;Finer/Holberton 2002). ...
... Business incubators provide start-ups with a nurturing environment, hands-on assistance, and a variety of other services during their crucial first years of development. The term "incubator" is appropriate because these organizations foster the development of new companies, helping them survive their vulnerable start-up period and grow more quickly into successful firms (Finer & Holberton, 2002). Incubator facilities are quite diverse. ...
Article
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The aim of this paper is to map and analyze the Brazilian literature on Entrepreneurship, considering its evolution over the last forty years in order to identify patterns. We conducted a descriptive and exploratory research to classify this production in the following dimensions: i) the nature of study; ii) the focus addressed by the study; iii) the research approach used; and iv) the use of empirical data. Regarding the nature of study, we used two categories: descriptive and prescriptive studies. As for the focus addressed by the studies, we conducted a differentiation of it based on three levels: individual level, enterprise or organizational level and contextual level. Finally, we classified the research approach into quantitative, qualitative and mixed approaches. These criteria relied on seminal works by Low and MacMillan (1988), Gartner (1985) and Stevenson and Jarillo (1990). The information sources used in this study were based on publications from four annals from leading national academic meetings in the entrepreneurship and management fields and three main Brazilian management journals. The results indicate a minor presence (27%) of prescriptive studies on how entrepreneurs can be successful in their actions, compared to 73% of descriptive studies. The focus addressed by the studies pointed mainly to the enterprise level (50%), while both individual (20%) and contextual levels (30%) were less emphasized. Research approaches were evenly distributed among the three categories (“quantitative”, “qualitative” and “mixed”). Prior to the 1990s, few studies were found regarding longitudinal analysis. In fact, after 1990, the literature showed significant growth in the number of research groups across Brazil. However, for the moment the research themes of each research group are not clearly delineated.
... Business incubators provide start-ups with a nurturing environment, hands-on assistance, and a variety of other services during their crucial first years of development. The term "incubator" is appropriate because these organizations foster the development of new companies, helping them survive their vulnerable start-up period and grow more quickly into successful firms (Finer & Holberton, 2002). Incubator facilities are quite diverse. ...
Article
Full-text available
This paper aims to analyze entrepreneurial competencies before, during and after business failure. This is a descriptive study with entrepreneurs who have discontinued their businesses. It adds economic value to the organization and social value to the individual. We analyzed interviews of Brazilian entrepreneurs by using the technique of content analysis. The categories chosen a priori were: to know to act, to know to mobilize resources, to learn to engage, to compromise and to take responsibility to know and learn and to have a strategic vision. As a result of this study, we can show that these competencies influence the behavior of entrepreneurs, and this in turn is reflected in the success or failure of the organization. These competencies were analyzed in three separate stages of research, before, during and after business failure. Prior to business failure, skills emerge as a form of personal and professional development; during business failure, the skills emerged infrequently, or are absent, and after business failure, these skills resurface as a way to overcome adversity.
... Initially, the main role of a BIC was to provide physical space to new enterprises. However, over time the purpose of BICs has evolved so that along with providing their clients with office space, counseling and other basic services, their purpose can also be to stimulate internal networking and exchange of knowledge between entrepreneurial start-up firms (Finer and Holberton, 2002;Lai and Lin, 2015). A modern BIC includes shared office space, a pool of shared support services, professional business support and more recently networking (Pettersen, et al., 2015). ...
Chapter
The primary aim of this chapter is to review the literature on entrepreneurial ecosystems, focusing on the activities of two key institutions: higher education institutions and business incubation centres (BICs). Although there is a significant volume of research on the design and impact of business incubators, there is limited coverage of their role on campus and within an entrepreneurial university's ecosystem. This chapter presents an assessment of how best to manage the connection between business incubation centres and higher education institutions. We examine the activities of business incubation centres (BICs) as they relate to entrepreneurial universities. We also provide an overview of the key challenges associated with developing entrepreneurial universities. The findings are presented in the form of a conceptual framework. The framework facilitates an improved understanding of the benefits of connecting the capabilities, activities and outcomes associated with higher education and business incubation. This chapter offers a lens by which to consider the design of BICs as they relate to entrepreneurial universities and offers pathways to consider future research.
... University-industry collaboration is a critical constituent of efficient nationwide innovation systems. Experience of developed countries can be studied in order to learn and benefit from various types of university industry collaborations [4][5][6][7][8][9][10]. The high intensity university industry collaboration in found in research partnerships, and shared infrastructure for development and commercial exploitation of technologies pursued by academic inventors through a company they partly own. ...
Article
The purpose of this study is to explore how technology business incubation centers established in different universities of Pakistan playing their role to cultivate the entrepreneurial culture and providing support to startups. These incubation centers are also facilitating those who have some new innovative ideas to get them converted in successful business by providing professional support, business advices and exposure to entrepreneurial networks. One of the objectives of these incubators is to promote the entrepreneurial culture among students from the start of their study programs to change their mindset from job seeker to job provider. Based on observation this study identifies that technology business incubation centres provide the wide scope of resources and facilities to assist the startups ranging from prototype development to learning how to commercialize technological ideas, bridging the gap between academia and industry to providing the platform to industry as well in resolving their issues by providing the effective solutions. Tenants firms provided with opportunity to learn from multipurpose experiences of big industry icons by arranging informative workshops and seminars.
... Business incubators ("incubators" for short) are organizations that help aspiring entrepreneurs translate ideas into profitable ventures. Incubators typically provide office space, consulting services, assistance in finding suppliers and distributors, access to venture capitalists and business angels, and sometimes direct financial support (Aernoudt, 2004;Finer and Holberton, 2002;Rothaermel and Thursby, 2005a). Incubators are operated by a variety of private and public actors including government agencies and NGOs, but more than half of U.S. incubators are affiliated with higher education institutions (Powell, 2013). ...
Article
In this paper we analyze the impact of academic incubators on the quality of innovations produced by US research-intensive academic institutions. We show that establishing a university-affiliated incubator is followed by a reduction in the quality of university innovations. The conclusion holds when we control for the endogeneity of the decision to establish an incubator using the presence of incubators at peer institutions as an instrument. We also document a reduction in licensing income following the establishment of an incubator. The results suggest that university incubators compete for resources with technology transfer offices and other campus programs and activities, such that the useful outputs they generate can be partially offset by reductions in innovation elsewhere. Do university incubators drain resources from other university efforts to generate innovations with commercial relevance? Our analysis suggests that they do: after research intensive US universities establish incubators the quality of university innovations, which we measure with patents, drops. This finding has immediate implications for practice as it suggests that the benefits and costs of incubation should not be analyzed in isolation. Rather, the effects of incubators extend to the overall innovation performance of the university. It follows that measuring the net economic effect of incubators is challenging because besides the effects on innovation efforts the presence of an incubator may attract particular kinds of faculty and students, enhance the prestige of the university, generate economic multiplier effects and benefit the community as a whole. JEL: C23, C26, L26, O31, O32
... The preliminary purpose of the study is to address the performance of graduated companies by mainly focusing on the quantitative aspect (financial structure, profitability, turnover growth) and then to take into account the overall qualitative opinion arising from the I3P's CEO interview. 2 Electronics When companies are not listed on a stock market, financial and profitability ratios can be used as main tools to assess financial and economic performance (Chakravarthy, 1986; Finer and Holberton, 2002). However, these measures may be biased because the sample is composed of entities operating in different industries with different industry-driven levels of fixed assets, variable/fixed cost ratios and competitiveness (Porter, 1980). ...
Article
Purpose: The aim of this paper is to present the results of a study examining the role played by academic entrepreneurs in science-based companies grown in university incubators. The authors aim to address whether the presence of academic entrepreneurs improves economic and financial performances. Moreover, the authors aim to verify whether different levels of involvement of academic entrepreneurs (i.e. shareholder, member of board of director) can contribute to different levels of financial performance. Design/methodology/approach: The research was carried out on a sample of science-based companies originating predominantly from Northern Italy, which had graduated from the Turin Polytechnic Incubator, called I3P. Data about the presence of academic entrepreneurs were obtained by interviewing the Incubator's CEO, while companies' financial performance was assessed by financial ratios analysis. A multiple linear regression model was developed to test the relationship between presence of academic entrepreneurs and financial performance, while controlling for the life cycle stage and the industry of the companies. Findings: The results of the statistical analysis show that there is a negative relationship between the presence of academic entrepreneurs and the overall financial performance of the incubator's graduated companies. However, there is a positive relationship between a deep involvement of academic entrepreneurs (acting both as shareholders and as directors) and financial performance. Originality/value: Given the current debate about the different conditions under which university involvement provides advantages or disadvantages for newly created firms, this study provides empirical evidence about the presence and the role played by academic entrepreneurs on science-based companies by focusing on their financial outcomes. Also, little literature has addressed the performance of academic ventures after their graduation from incubators, and as such, the evidence is based on the performance after the companies' graduation from the incubator.
... Business incubators ("incubators" for short) are organizations that help aspiring entrepreneurs translate ideas into profitable ventures. Incubators typically provide office space, consulting services, assistance in finding suppliers and distributors, access to venture capitalists and business angels, and sometimes direct financial support (Aernoudt, 2004;Finer and Holberton, 2002;Rothaermel and Thursby, 2005a). Incubators are operated by a variety of private and public actors including government agencies and NGOs, but more than half of U.S. incubators are affiliated with higher education institutions (Powell, 2013). ...
... 6. For examples of the popular press' disenchantment with (mostly for-profit) incubators see the following articles: Drake (2001); Duvall and Guglielmo (2000); Enrado (2002); Finer and Holberton (2002); Holson (2000); McGinn (2002); Nocera (2001); Schaff (2000). ...
Article
Full-text available
This article systematically reviews the literature on business incubators and business incubation. Focusing on the primary research orientations--i.e. studies centering on incubator development, incubator configurations, incubatee development, incubator-incubation impacts, and theorizing about incubators-incubation--problems with extant research are analyzed and opportunities for future research are identified. From our review, it is clear that research has just begun to scratch the surface of the incubator-incubation phenomenon. While much attention has been devoted to the description of incubator facilities, less attention has been focused on the incubatees, the innovations they seek to diffuse, and the incubation outcomes that have been achieved. As interest in the incubator-incubation concept continues to grow, new research efforts should focus not only on these under-researched units of analysis, but also on the incubation process itself.
... We analyzed the financial performance of the firms by focusing on financial ratios computed on the basis of the financial structure, leverage and profitability. Generally when firms are not listed on a stock market, the financial and profitability ratios can be used as main tools of analysis to assess financial performance (Chakravarthy, 1986;Finer and Holberton, 2002). Nonetheless, these measures may be biased because of the sample composition, firms operating in different industries featured by specific industry-driven levels of fixed assets, variable/fixed cost ratios and overall competitiveness (Porter, 1980). ...
Article
Full-text available
Incubators, spin-offs, industrial networks and consortiums are some of the examples to build-up university–industry links in fostering innovation. University incubators are well known for supporting the growth of start-ups by providing knowledge and research, as well as, sustaining entrepreneurship by the direct involvement of their faculty. In this regard, the aim of this paper is to examine the influence of faculty members on the financial performance of a sample of new technology based firms which have been previously incubated by different Italian University Incubators. Essentially, the results on the presence of academic governance in relation to the financial performance of the firm describe a certain dip, even when controlling for other variables such as the industry and the number of registered patents.
Article
We outline a model that improves our understanding of the role of incubators in the entrepreneurial process. Specifically, we focus on the impact of the services offered, namely infrastructure, coaching and networks, on the graduation rates of the respective incubators' tenants. The model is tested among three different types of incubators, for-profit, non-profit, university-based incubators. Based on our qualitative findings, we conclude that our initial model is ineffective, in the sense that it cannot fully explain the role of the incubators in facilitating entrepreneurship. Interviews with directors of incubator centers were also carried out simultaneously. Further analysis of the results along with interview responses from incubator directors, led us to propose a more comprehensive model to explain how incubators affect the entrepreneurial process.
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This research is designed to distinguish and describe or explain incubator practices that affect the performance of incubator clients of university technology incubator programs. The research focuses on understanding which practices significantly contribute to increasing job creation for the firms located in university based technology incubators. An increasing number of communities are embracing economic development strategies that target the high tech sector with high wage, high value jobs as a way to diversify their economies and boost local and regional economies. New economic development strategies include the notion of a creation strategy or "growing your own" instead of relying on recruiting of existing companies from other regions. In 1999-2000 (according to the most recent data), small businesses created three-quarters of U.S. net new jobs (2.5 million of the 3.4 million total). The small business percentage varies from year to year and reflects economic trends. Over the decade of the 1990s, small business net job creation fluctuated between 60 and 80 percent. Moreover, according to a Bureau of the Census working paper, start-ups in the first two years of operation accounted for virtually all of the net new jobs in the economy. The study is broken into three parts: (1) a review of the literature on incubation, focusing on its history, best practices, technology incubation, networking theory, and previous empirical studies (2) a review of previous data collected in a recent national survey and (3) case studies of the top performing incubators in the country based on employment growth of client firms contracted with case studies from non-top ten programs. The literature suggests that the study of incubation must be considered in the context of a larger enterprise development system of which the incubator will fill gaps in the larger regional enterprise development system. This notion is explored. In general, there is a great need for more empirical research into best practice of incubation. It is a non trivial task however as the nature of the industry limits the ability to obtain traditional, statistically defendable, measures.
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O artigo analisa a existência de similaridades entre empresas graduadas em incubadoras no que diz respeito à eficácia percebida em algumas práticas de Gestão do Conhecimento (GC) considerando-se o número de funcionários e o faturamento. O estudo foi elaborado a partir da constatação de carência de pesquisas que busquem associar a GC ao número de funcionários bem como ao faturamento das empresas. Além disso, aplicou-se em empresas graduadas por incubadoras, em virtude da importância destas na formação de organizações sustentáveis. Trata-se de uma análise quantitativa, realizada a partir de testes bivariados. Os resultados indicam que, em 66,67% dos casos, as percepções mais eficazes das práticas de GC foram encontradas nas empresas que mais possuem funcionários. Em relação ao faturamento, o padrão se repete em apenas 40% dos agrupamentos formados por essa variável. Ainda que nos demais casos não se tenham registrado diferenças estatisticamente significativas, na maioria absoluta das vezes, as mais acentuadas percepções de eficácia estão associadas tanto às organizações que registraram um número maior de funcionários como àquelas que se classificaram como pertencentes às classes de maior faturamento.
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Firstly, this paper studies the credit mechanism of business incubation network under E-commerce, on the basis of credit mechanism. We put the method of building incubated enterprises virtual communities and customers virtual communities to increase the B to C e-commerce trust within the business incubation network. Then, on the basis of game theory analysis the trigger policy of incubated enterprises' dishonesty on the incubation network virtual communities, designing stimulating mechanism and restraint mechanism to ensure enterprise sincere sale on the incubation network virtual communities.
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