Innovation Capability Indicators for Entrepreneurs Developed the Business from Thai University Incubator

Abstract

This research aimed to study and develop the innovation capability indicators for entrepreneurs who created their businesses from public universities' incubators in Thailand. This study applied the inductive research method using critical analysis; the sample included 202 entrepreneurs' variables related to Confirmatory Factor Analysis to find the model's concordance and empirical data. The entrepreneurs who developed their businesses from incubators of universities in Thailand had the innovation capability for business management through the following factors: the change and management development process at lower costs to achieve more efficient management, the novel/innovative product development process to the market, the perceived product enhancement process through new and modern channels, and the use of contemporary digital convergence for innovation capability construction to further take advantage of business competition. The research results and contributions revealed that the measurement model of innovation capability developed from the three main factors: process innovation capability, product innovation capability, and market innovation capability, leading to value synergistic business creation and directed innovation.