Towards a New Vision for Sustainability of Incubator Best Practices Model in the Years to Come

Abstract

Incubators are internationally recognized as a premier 21^st century location for technology and technology-based economic development. The purpose of this paper is to identify the similarities and differences of business incubation programs worldwide. The study focuses on six key success indicators and points out proposed incubators model in the years to come. The approach to the design methodology is based on survey and interviews implanted on 100 selected incubators. The research findings indicate the similarities of incubators programs that are 1) Creating jobs, 2) Enhancing community’s entrepreneurial climate, and 3) Tangible services and the differences are 1) Incubators type, 2) Finical status, and 3) Incubators age. The research adds value to current literature on new visions for sustainability of incubators best practice models for the coming year. Finally, it provides useful guidelines for implementation to both academies and practitioners involved with incubators worldwide.

Keywords: Technology incubators, innovation, entrepreneurship, job creation, economic development.