Business Incubation: An Introduction

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Knowledge and innovation are the natural resources of the 21st century, and developing the capacity to support people and industries that possess these resources is a critical element for economic growth. The new Technology-led economic development strategies continue to take root around the world. The ability to successfully develop and support new businesses and advance within existing industries needs a basic support to sustain in the long run. The institutions like Government, University and Private industrial houses can provide the support services to start up businesses and also to the industries that are expanding. These are called as Business Incubators. Business incubation is being seen worldwide as an effective means to promote and support entrepreneurs in their efforts to innovate and commercially exploit indigenously developed technologies. It has become a crucial driving factor for the growth of start-up and newly established firms. The globalization of markets continues to widen opportunities for enterprises in developing countries and it also implies that entrepreneurship in these countries urgently needs encouragement and strengthening. The basic services provided by these incubators are workspace, business planning, management advice, office facilities, business networks, legal services, finance and accounting. This book focuses on the evolution of business incubation, role of business incubators in establishing new businesses and the role of innovative technologies in making new entrepreneurs competitive. It further focuses on the role of business incubators in cultivating small businesses, financing SMEs and entrepreneurs, sustainable business incubation, experiences in selected countries including India, role of innovative technologies and business incubation in transforming village economies and a few case studies. Entrepreneurs, academicians, research fraternity, business management students and professionals can get basic inputs of Business Incubation through this book.

ABOUT THE AUTHOR A.V. Bala Krishna

A.V. Bala Krishna holds a B.Sc. degree and an MBA from Andhra University. He is currently working as a Faculty Associate with Icfai Books, a division of the Icfai University Press. He has around 10 years of industry experience in the domains of telecom, automobiles, publishing, holiday marketing and fire protection systems. He regularly contributes articles to the books and magzines published by the Icfai University Press. His areas of interest include strategic marketing, services marketing and multinational marketing.

ABOUT THE AUTHOR V.V. Ramani

V.V. Ramani holds an M.A., Phil and a PGDM from Madras University. She is currently working as a Faculty Member and Consulting Editor with ICFAI University. She has over 18 years of industry and academic experience. She is the Joint Secretary of National Human Resources Development Network, Hyderabad Chapter and Vice President of CEASE Child Labor (an ILO Project). Her articles have been published in various magazines and management journals. She presented several papers in various conferences and seminars. Her areas of interest include Economics disciplines like Micro-Economics, Macro-Economics, International Trade, Public Finance and HR disciplines like Leadership, Organisational Development, Human Resource Management and Networking.