Proceedings of The 2nd International Conference on Advanced Research in Management, Economics and Accounting
Towards a Taxonomy of Services Offered by Start-up Business Incubators
Athanasios Davalas,Yannis Charalabidis
Incubators are becoming increasingly important in today’s business world. Incubators are a place where ideas are developed into businesses with the potential to grow and become viable. Incubators have evolved from earlier days where it was predominantly offered in the form of business support, to the current model where various elements of success are included in the incubator services. These incubators differ in their types, business model, as well as areas of expertise. The current study focuses on assessing the services offered by start-up business incubators. The focus is on services offered such that the success of the businesses is made possible, and the viability of the business is also improved. The study aimed at proposing a service framework that can be used in assessing the effectiveness of the incubators, given the current stiff competition for new businesses to stay afloat. After conducting a literature review, seven services were identified. These services lied within business development, mentorship, expertise, as well as partnerships that could bolster any startup to success. Three University Business Incubators were then selected within the United States for assessment of the application of the identified seven services into their frameworks. Results indicated that much still needs to be done in areas of expertise, partnerships, and future connections to funding for the University Business Incubators to start realizing the full benefits of being in operation.
keywords: University Business Incubator, Incubator, Entrepreneurship, Companies.