Business Incubators

Abstract

Business incubators can help young firms to survive and grow during their start-up years, and can play a key role in the economic development of a community or region. In developing countries, like Kuwait and the other Gulf Cooperation Council (GCC) member states, business incubators can be particularly valuable in helping to develop local economies, promote technology transfer, create new enterprises and generate jobs. There is potentially a wealth of information available about the characteristics of and services offered by business incubators in the US and other countries, which can be used to inform the development of incubator programmes within these countries. To tap into this information, an Internet-based survey was conducted with a sample of business incubators worldwide. The survey results are used to make recommendations about how to maximize the success of incubators, including matching services offered to the needs of clients and involving a range of community stakeholders in the development of their programmes. A number of options are proposed for developing and expanding the business incubator concept in Kuwait and the GCC member states.