Abstract
Summary The justification and directions of support for business ventures by innovation and entrepreneurship centres are nowadays the subject of extensive scientific and political discourse. The paper aims at adding arguments to this discussion, based on the results of empirical research conducted on the basis of the case study strategy carried out among companies developing in such centres in Poland in comparison with more developed countries, including the UK, Belgium and Ireland. Particular attention is paid to the issue of involvement of key stakeholders at various stages of business development, including universities and their business incubators as well as potential investors providing key resources to this development, combined with general economic objectives the achievement of which justifies public expenditure on support of specific entities. The conducted analysis is based on the process approach in the framework of which characteristic phases of business development are distinguished, since the company's establishment to the point when it gains the potential for global development. The analysis shows first of all that there is no contradiction between objectives of individual stakeholders of the process, provided that they are properly targeted. University business incubators seem to be a good coordinator of these objectives if their activities are carried out in an appropriate manner.
Highlights
The contemporary literature indicates that one of the most important tools enabling economic use of knowledge, through formal [Agrawal, 2001], as well as informal [Acs et al, 2009; Audretsch, Aldridge, 2009] transfer channels, is entrepreneurship
The analysis based on process approach indicates that objectives associated with survival and development of firms
Slow growth of businesses in some incubators is usually an indication of their business failure soon after the end of the incubation period and objectives of individual stakeholders as well as general economic objectives are achieved at negligible levels
Summary
The contemporary literature indicates that one of the most important tools enabling economic use of knowledge, through formal [Agrawal, 2001], as well as informal [Acs et al, 2009; Audretsch, Aldridge, 2009] transfer channels, is entrepreneurship. The net employment growth in the USA in the last two decades of the twentieth century caused by the development of new entrepreneurial firms (less than five years old), [OECD, 2010; Janasz, 2004]. One of the tools designed to stimulate such activities are university business incubators which are intended to form a bridge between universities, where new knowledge is created, and the economy. In particular those associated to universities, are nowadays seen as a key component of regional and national economic development strategies, supporting and strengthening the growth of economic sectors [Harman, Read, 2003]. When defining the role and tasks of incubators, the question should be answered: what conditions in functioning of university business incubators must be met in order for this objective (the economic growth and development) to be achieved
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