Business Strategy to Improve Business Incubation Services for Science Techno Park

Abstract

Science Techno Park is a facility in the form of an area specially prepared to initiate and flow knowledge and technology between R&D institutions, universities and industry. STP facilitates the growth and development of innovative start-ups through incubation activities and spin off processes. The main objective of STP is to encourage economic growth through the development of innovation potential. Science Techno Park was initiated in 2014 under PT Bogor Life Science and Technology (BLST) as a holding company owned by Bogor Agricultural University (IPB). This study aims to identify and improve the Science Techno Park business incubation services for inwall tenants and startup companies that are fostered based on the problems that occur and are expected to increase other income from the Science Techno Park business. The method used in this study uses primary data derived from quantitative and qualitative methods obtained from questionnaires and interviews with inwall tenants and startup companies that are undergoing the Science Techno Park business incubation program. Secondary data analysis uses company reports and literature from various sources. The conceptual framework used in this study begins with an analysis of customers of Science Techno Park business incubation service. Then analyze the external environment using general environmental analysis, industry analysis, and competitor analysis. For internal environmental analysis using resources, capabilities, and core competencies. All the results of the analysis are summarized in a SWOT analysis. From the results of the analysis, the researcher provides solutions and business strategies to solve problems experienced by Science Techno Park in fostering inwall tenants and startup companies and provide business alternatives to earn other income besides business incubation services. The strategy proposed based on research results is a strategy of business diversification and cost leadership. In addition, a functional strategy is provided to improve company performance in the area of marketing, finance, and internal management. The researcher provide implementation plans by mapping the potential users of business incubation services and the roadmap for the development of Science Techno Park to improve business incubation services and develop other business services.