What is Business Incubation?
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:
* 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.
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.
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