Business incubator models and effectiveness

¶ … business incubator is. There are excellent online references. According to the National Business Incubation Association (2008), "Business incubation is a business support process that accelerates the successful development of start-up and fledgling companies by providing entrepreneurs with an array of targeted resources and services. These services are usually developed or orchestrated by incubator management and offered both in the business incubator and through its network of contacts" (What is business incubation?, p. 1). The primary goal of a business incubator is to provide start-up companies with the opportunity to learn and grow in order to become sustainable and profitable enterprises in the future as quickly as possible (What is business incubation?). The results can be impressive: "Incubator graduates have the potential to create jobs, revitalize neighborhoods, commercialize new technologies, and strengthen local and national economies" (What is business incubation?, p. 2).

Do you think this concept makes sense, or not? Support your answers. The business incubator concept makes sense if there is a market for such an enterprise. According to Rice, Matthews, Kilcrease, Matlock, Morgan, Sherwood and Meeder (1995), "As is the case for any entrepreneur considering the launch of a new venture, the incubator champions must explore the market potential for their business. Is there a market for an incubator in this community?" (pp. 9-10). In fact, these authors suggest that identifying and understanding the potential market for such a business incubator represents the first and most important step in determining its feasibility (Rice et al.).