Expert Insight

The impact of business incubators on the growth, continuity and expansion of business . Ghadeer Juma’a

Business incubators of all kinds play an important role in supporting and developing entrepreneurial projects with the growth of projects and their success that support the national economy, as it is considered a tool for the recovery and development of the economy and serves as a development program that helps in diversifying economic activity, wealth creation, spreading and marketing technology, which in turn contributes to reducing the investment risks of small organizations and creating jobs.

Interest in business incubators has increased globally and even at the Arab levels as it has proven to be a successful experience over more than two decades. Business incubators are one of the main pillars of the establishment, growth and success of entrepreneurial projects through the incubation of various projects since their inception, as the activities of the new and small enterprises can be embraced at the beginning of their inception or the medium size during their growth stages. As well as the large organizations that are going through deterioration and wish to reactivate their business activities by providing material and knowledge capital by adopting the ideas of innovators and entrepreneurs and directing them to produce and provide new products and services. This would entail the development and creation of industries that can meet the needs of local markets, and allow the possibility of producing products directed for export and the development of international trade.

We have noted during the previous years that the success and continuity of incubated projects increased compared to those that are not incubated, due to the encouragement, support and development of entrepreneurs by providing them with an appropriate working environment during the critical first years of the entrepreneurial life and by applying a development program that helps to diversify economic activity and create wealth and compete in the market through the services provided by the incubated projects.

The services provided by business incubators to entrepreneurs include the following:

1-Strategic services including business plans, advisory groups, marketing and financing strategies and intellectual property.

2-Procedural services for the start-up of projects including finance, marketing, human resources and communication networks.

3-Infrastructure services such as providing the right sources of supplies including furniture, telephone, meeting room and others.

Business incubators of all kinds contribute to the growth, continuity and expansion of business men because they have a role in:

   Community development   

Support for economic development

Support for industrial and technical development

Supporting and developing human resources and creating jobs

Work to solve specific economic problems.

Therefore, the Development Entrepreneurship Association focuses on a set of specific objectives for business incubators:

1.  Raising awareness of the concept of business incubators and their role in supporting entrepreneurial projects, in different business organizations, and this can be done through training and educational programs, and holding seminars and lectures that address the role of business incubators and their impact on the success of entrepreneurial projects in cooperation between the government sector and various other sectors.

2-Urging investors and capital owners to invest in business incubators through civil society organizations, especially since the market is open and does not stop developing.

3-Opening the door to cooperation between international civil society institutions concerned with supporting new and emerging projects and business incubators.

4-Creating competitions in collaboration between business incubators and civil society organizations to encourage creativity and innovation and contribute to supporting entrepreneurs.

5-Developing a strategic plan for business incubators that businessmen can contribute to organize and encourage the incubator industry, especially in the industrial and agricultural sector, and through the support of chambers of commerce and industry and community organizations.

6-Coordinating the work between the business incubator and technology and the private sector so that it acts as partner in the development process and not as a competitor by opening the way to the integration of roles between them in supporting the work of entrepreneurs.

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