Business Incubators, Accelerators, and Performance of Technology-Based Ventures: A Systematic Literature Review

Dina Pereira,Ângela Gonçalves,João Leitão

doi:10.3390/joitmc8010046

Abstract

This review aims to identify the typologies of business incubators (BI) and business accelerators (BA) and to define a taxonomy integrating both the BI’s and BA’s characteristics and services portfolio, facilitating the adoption of open innovation practices. A systematic literature review (SLR) was carried out encompassing the research topic concerning the relationship between the incubation structures and the performance of technology-based ventures. This comprehensive SLR encompasses a total of 1614 publications, aiming to advance the knowledge on BI and BA. This SLR allowed for the identification of current trends and future challenges, as well as of the most important authors, publications, and journals in this research framework. This SLR establishes a new taxonomy for BI and BA, based upon three main pillars: human capital, social capital, and organizational capital. BI and BA help in the development of new high-technology ventures, by being facilitators for open innovation practices. This SLR is limited by the literature, as the collection of publications was performed exclusively through ISI Web of Science (WoS). Further research can be made into the modes of how these structures impact open innovation practices at the regional level using a knowledge spillover approach.

Highlights

Considering the turbulence existent in the entrepreneurial process of creation, survival, the management of new technology based ventures, and the increasingly important role played by both business incubators (BI) and business accelerators (BA), there is a need to better understand the portfolio of services supplied by this type of support structures and the needs of the companies that demand for a set of diversified services, which are not represented and typified in the reference literature
Regarding the SRQ3: What are the research gaps in the literature concerning incubation and acceleration ecosystems, facilitators of open innovation practices, and technology-based ventures performance?; We identified some gaps in the literature that suggest the need for further research
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Summary

Introduction

Considering the turbulence existent in the entrepreneurial process of creation, survival, the management of new technology based ventures, and the increasingly important role played by both business incubators (BI) and business accelerators (BA), there is a need to better understand the portfolio of services supplied by this type of support structures and the needs of the companies that demand for a set of diversified services, which are not represented and typified in the reference literature.Business incubation is the most effective way of assisting entrepreneurs in their new venture creation [1]. Considering the turbulence existent in the entrepreneurial process of creation, survival, the management of new technology based ventures, and the increasingly important role played by both business incubators (BI) and business accelerators (BA), there is a need to better understand the portfolio of services supplied by this type of support structures and the needs of the companies that demand for a set of diversified services, which are not represented and typified in the reference literature. BI constitute an important dimension in the innovation system [3] and have become part of modern entrepreneurial ecosystems [5]. They are, as a result, sprouting everywhere in developed as well as rapidly developing countries [6]. The success of BI depend on them attracting the best incubated ventures, and their ability to produce new firms, with high growth potential, spurring from R&D developed in universities and research institutions [7]

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