Technology Business Incubation: Learnings from Global Experiences

Abstract

Schumpeter said that the survival of an economy depends on innovations by its entrepreneurs eventually contributing to global competiveness. The diffusion of technological innovations can influence the entrepreneurial scenario and eventually the economy. However, the conversion of innovation to business activity requires a lot of skills in addition to novelty and inventiveness. Technology business incubators (TBI), nurture the enterprise creation and development process right from its infancy by offering a myriad of services viz. infrastructure, mentoring, networking, etc. for their establishing, functioning and growing in the marketspace. On an account of the realization of its significance, Technology Business Incubators (TBIs) have been the policy tools of choice for institutional, regional and national governments across the globe. Here in this paper we discuss some critical dimensions of Technology Business Incubation, best practices over the globe and lessons learnt for strengthening the start-up ecosystem.