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| Newsletter 8 November 2003 Download Archive |
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| NEWS & EVENTS | |
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Incubation is a dynamic business development process. It is a term which covers a wide variety of processes, which help to reduce the failure rate of early stage companies and speed the growth of companies which have the potential to become substantial generators of employment and wealth.
What are incubators?
An incubator is usually a property with small work units which provides an instructive and supportive environment to entrepreneurs at start-up and during the early stages of businesses.
Incubators provide three main ingredients for growing successful businesses:
An entrepreneurial and learning environment
Ready access to mentors and investors
Visibility in the marketplace.
The benefits of business incubation are numerous. In particular it:
Encourages faster growth and greater survival rates of new companies
Helps to identify investment opportunities
Facilitates the commercialisation of university or corporate research and new ideas
Helps to create jobs and tackles specific urban or rural economic development problems
Universities in particular operate schemes that provide incubator space and support linked to research and development capability and this is the primary area of interest for the SAIL network - good examples include the enterprise fellowship scheme, spin-out wales and the Spanish Embryo project funded by the European Commission. On these pages you will find other examples of incubator schemes along with news and information.
