Business incubation mechanisms and new venture support: emerging structures of US science parks and incubators

Abstract

This article surveys the last several decades of the emergence of business incubation mechanisms in supporting the development of innovative small firms. Focusing on the more established business incubation programmes, the paper presents four representative cases of the US science park and their incubator programmes initiated in the 1980s. A longitudinal review of the last three decades of their emerging organisational structures, management policies, and services provided reveal that these incubation mechanisms are responsive to the client firms changing needs and have evolved into sustainable models of new venture support. The article provides lessons for those interested in benchmarking, managing, and assessing the roles of modern science park and incubator mechanisms.