TECHNOLOGY ENTREPRENEURSHIP AND BUSINESS INCUBATION Theory • Practice • Lessons Learned P1088_9781783269761_TP.indd 4/7/16 12:01 PM May 2, 2013 14:6 BC: 8831 - Probability and Statistical Theory This page intentionally left blank PST˙ws TECHNOLOGY ENTREPRENEURSHIP AND BUSINESS INCUBATION Theory • Practice • Lessons Learned Editors Phillip H Phan Johns Hopkins University, USA Sarfraz A Mian State University of New York at Oswego, USA Wadid Lamine Toulouse Business School, France ICP P1088_9781783269761_TP.indd Imperial College Press 4/7/16 12:01 PM Published by Imperial College Press 57 Shelton Street Covent Garden London WC2H 9HE Distributed by World Scientific Publishing Co Pte Ltd Toh Tuck Link, Singapore 596224 USA office: 27 Warren Street, Suite 401-402, Hackensack, NJ 07601 UK office: 57 Shelton Street, Covent Garden, London WC2H 9HE Library of Congress Cataloging-in-Publication Data Names: Phan, Phillip Hin Choi, 1963– author | Mian, Sarfraz A., 1952– author | Lamine, Wadid, author Title: Technology entrepreneurship and business incubation : theory, practice, lessons learned / Phillip H Phan (Johns Hopkins University, USA), Sarfraz A Mian (State University of New York at Oswego, USA) & Wadid Lamine (Toulouse Business School, France) Description: New Jersey : Imperial College Press, [2016] Identifiers: LCCN 2016013817 | ISBN 9781783269761 (hc : alk paper) Subjects: LCSH: Business incubators | Technological innovations Economic aspects | New business enterprises | High technology industries | Entrepreneurship Classification: LCC HD62.5 P5225 2016 | DDC 338/.04 dc23 LC record available at https://lccn.loc.gov/2016013817 British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library Copyright © 2016 by Imperial College Press All rights reserved This book, or parts thereof, may not be reproduced in any form or by any means, electronic or mechanical, including photocopying, recording or any information storage and retrieval system now known or to be invented, without written permission from the Publisher For photocopying of material in this volume, please pay a copying fee through the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, USA In this case permission to photocopy is not required from the publisher Desk Editors: Dr Sree Meenakshi Sajani/Mary Simpson Typeset by Stallion Press Email: enquiries@stallionpress.com Printed in Singapore Sajani - Technology Entrepreneurship and Business Incubation.indd 19/5/2016 9:17:35 AM b2475 Technology Entrepreneurship and Business Incubation Contents Redux: What We Know about Business Incubation Today? Phillip Phan, Sarfraz Mian and Wadid Lamine vii Chapter Business Incubation and Incubator Mechanisms Sarfraz Mian Chapter Success Factors of Business Accelerators in Three European Cities: Paris, London, Berlin Ayna Yusubova and Bart Clarysse 35 Chapter A Look Inside Accelerators in the United Kingdom: Building Technology Businesses Bart Clarysse, Mike Wright and Jonas Van Hove 57 Chapter Inter-Incubator Relationships and New Venture Performance in China’s Technology Business Incubators between 2008 and 2012 Yunhao Zhu Chapter Innovation Habitats for Technology Startups in Brazil Guilherme Ary Plonski 87 125 v b2475_FM.indd v 08-Jul-16 3:40:32 PM b2475 Technology Entrepreneurship and Business Incubation vi Chapter Technology Entrepreneurship and Business Incubation Assessing the Value Added by Incubators for Innovative Small and Medium Enterprises in Russia Dina Williams and David Tsiteladze 151 Chapter How Business Incubators Create a Conducive Environment for the Development of Innovative Tunisian Startups Selma Mhamed Hichri, Zouhaïer M’chirgui and Wadid Lamine 179 Chapter A Resource-Based View of Business Incubation in South Africa with a Focus on the Selection Process Goosain Solomon and Per Lind 213 Chapter Science Parks and Incubators: Observations, Synthesis and Future Research Phillip Phan, Donald S Siegel and Mike Wright 249 Business Incubation for Technology Entrepreneurship Around the World: Promises and Prospects Phillip Phan, Sarfraz Mian and Wadid Lamine 273 Author Biographies 279 Index 283 b2475_FM.indd vi 08-Jul-16 3:40:32 PM b2475 Technology Entrepreneurship and Business Incubation Redux: What We Know about Business Incubation Today? Phillip Phan, Sarfraz Mian and Wadid Lamine Introduction According to Google Trends, interest in business incubators1 peaked in the mid-2000s in North America.2 Today, more scholarly and policy interest in business incubators tend to be found in emerging economies such as China, India and Russia or small countries with an interest in technology-based economic development such as Singapore, Israel, Scandinavia, Kenya and South Africa This is partly due to the accumulation of evidence on their generally positive effects of promoting technology entrepreneurship and economic development (c.f., Audretsch et al., 2015) While there has been a marked increase in the number of scholarly papers on business incubators in general, there has yet to be an organized volume narrowly focused on their impact on technology entrepreneurship Although the scholarly literature makes a distinction between various types of incubators, Chapter indeed goes through a long list of forms and definitions, because their purpose is similar, we use the term ‘incubator’ to refer to all property-based startup sponsoring organizations https://www.google.com.sg/trends/explore#q=%2Fm%2F0581_y [Accessed January 16, 2016] vii b2475_FM.indd vii 08-Jul-16 3:40:32 PM b2475 Technology Entrepreneurship and Business Incubation viii Technology Entrepreneurship and Business Incubation This book represents a first attempt It reports on selected research from around the world, each focusing on an aspect of business incubation most salient to that part of the world There are already a number of competent reviews of the scholarly research on incubators from North America and Continental Europe (see, for example, Hackett and Dilts, 2004) Less prominent is the research on incubators from emerging economics such as China, Russia and Brazil or developing economies such as Tunisia and South Africa Most chapters begin with a definition of the incubators they investigate and take the reader through a short history of their development within the geographic region of interest Another reason we present business incubation research in this way is to provide the reader a geographically broad view of the field We note that while incubation is a universal concept, the way it has expressed itself, as these chapters illustrate, differs around the world We hope that the reader would consider the theoretical and empirical opportunities for advancing this research by seeking out collaborations from these and other scholars around the world Research on business incubation has covered topics such as descriptions of different types of business incubators, discussions of the various service models and their implications for value creation, the impact of business incubation on business survival, regional economic development and employment and the policy determinants and implication for the growth of incubators One of the earliest attempts at articulating the incubator concept is by Smilor and Gill (1986) in which they argued business incubators provided the type of support that startups are not able to obtain on their own from the marketplace, either because they are resource poor, conceptually vague or bereft of the right connections to needed resource pools The implication of their book is that business incubation is a policy response to market failure and the ‘linking’ function is the result of policy interventions by governments, corporations, universities, non-governmental organizations or research institutes Indeed, much of the research following Smilor and Gill (1986) have focused on describing the attempts by various actors to foster entrepreneurial activity using property-based organizations (incubators, science parks, accelerators, and so on) In this research, scholars have focus on the policy rationale for intervention (e.g La Rovere et al., 2015) or characterize incubators as outcomes of institutional (such as universities and corporations) strategies to create economic wealth (Mian, 1996; Foss and Gibson, 2015) b2475_FM.indd viii 08-Jul-16 3:40:32 PM b2475 Technology Entrepreneurship and Business Incubation Redux: What We Know about Business Incubation Today? ix Other collections of the research have characterized incubators as mechanisms to foster inter-firm collaboration and the exchange of ideas and technology (Mitra and Edmondson, 2015) Yet, others have looked at the connection between regional development and the development of human capital, with incubators as the enabling organizational entity, among others (Baptista and Leitão, 2015) The above being said, because various business incubation models have rapidly evolved in form over the past more than 30 years, it has been challenging to study the phenomenon from a theoretical and empirical perspective For example, the early business incubators were conceived as sponsoring organizations that provided low cost space to newly formed technology businesses The later provision of discounted business services such as accounting, legal advice and business incorporation and business planning was added to render this combination of space and services the basis of the classic incubator model As the pace of new business creation accelerated with the advent of the connected era, incubators that proved they could shorten the time between discoveries and commercialization became more attractive to funders and entrepreneurs Hence, a generation of incubators in the biomedical sciences emerged that combined wet laboratory facilities, the most costly type of space and typical incubator services Wet lab incubators brought the concept of ‘cheap rent’, which had fallen off as the reason for incubation success, back a full circle because scientist-entrepreneurs could not conduct the needed translational research in university-based labs, usually due to conflict-of-interest, and did not have the financial means to set up private ones Incubators became magnets for angel investors and venture capitalists looking for ‘ground floor’ opportunities in such technology domains as biotechnology, materials and information/communications Today, the original incubator model exists within a constellation of other property-based sponsorship organizations such as science parks, accelerators and ‘maker spaces’ Indeed, Google Trends reports that while interest in incubators has abated in Internet searches, interest in Y-Combinator, the prototypical accelerator and its analogs has exploded around the world.3 https://www.google.com.sg/trends/explore#q=Y%20Combinator [Accessed January 16, 2016] b2475_FM.indd ix 08-Jul-16 3:40:32 PM b2475 Technology Entrepreneurship and Business Incubation x Technology Entrepreneurship and Business Incubation Overview of the contributions To begin, Chapter provides definitions, a brief history and a review of the research in business incubation It describes the typical incubation process, with a focus on the interventions typically encountered in such organizations The point being made is that incubation in its evolved form is a deliberate, non-market based activity designed to move a nascent enterprise through its natural stages of growth at an accelerated rate, and to protect it from market forces that threaten early survival To so requires planning and resources, since growth is naturally constrained by the available resources Because of being cloistered, startups are also protected from the competitive forces that can prematurely kill them Whether such protection is efficient in the end or leads to ‘zombie’ startups has been a matter of debate since the concept was introduced to the literature That debate continues today, even though in practice incubators have implemented various mechanisms such as term limits, performance targets and stage-gates to mitigate the risks of over-investment in poor ideas Chapter turns its attention to business accelerators, a more recent form of incubator Specifically, they examine the empirical evidence from 13 business accelerators based in London, Berlin and Paris Accelerators have taken on an importance, in part fueled by the Internet, not seen in earlier discussions of incubators While accelerators are still an emerging organizational form, and therefore too young to study for their long-term performance, through a comparative case analysis, the authors were able to suggest a number of factors that could improve the odds of success These are the selection process and criteria for inclusion, comprehensiveness of business support services and presence of networking opportunities for the startup firms The chapter employs institutional theory to view the data, representing a minority of studies to use theory and worthy of emulation They suggest that accelerators are more likely to survive if they can legitimate themselves in the eyes of stakeholders This is because accelerators are an unfamiliar organizational form and hence not accorded the institutional support that familiar forms can take for granted Chapter continues the theme with an inductive study of accelerators based in the United Kingdom They define accelerators as an umbrella term for any program providing structured mentoring, networking b2475_FM.indd x 08-Jul-16 3:40:32 PM b2475 Technology Entrepreneurship and Business Incubation Index A ability to learn, 183 absorptive capacity, 263 academic entrepreneurship, 19 acceleration, 223, 238, 253 accelerators, x, 19, 35, 57–58, 263 Accelerator assembly, 58 accelerator managers, 37, 45 accelerator model, 35 accelerator programs, 51 accelerators’ actions, structure, activity and strategy, 42 accelerator strategies, 37 Accenture, 50 access to markets, 231 access to talent, 258 accreditation process, 153 added-value of the business incubator, 192 affiliate program, 20 affordable space, 21 Agency for the Promotion of Industry and Innovation (APII), 189 agency theory, 252, 264, 268 agent-principal problem, 274 agglomeration, 262 agglomeration effects, 25 agri-incubators, 231 alternative revenue streams, 241 Angel.co, 64 angel investors, ix ANPROTEC, 130, 133, 135, 138, 140, 142, 145 a positive pipeline of incubatees, 244 application process, 40 a pre-incubation period, 235 archetype, 60 a resource-based capability matrix, 219 assessing the value added by incubators, 151 assessment framework, 25, 34 assessment of business incubators, 201 283 b2475_Index.indd 283 08-Jul-16 3:40:53 PM b2475 Technology Entrepreneurship and Business Incubation 284 Association of University Research Parks (AURP), 130, 250 Axel springer plug & play accelerator, 46–48 B bailouts, 253 bank industry, 49 Belgium, 256 Bematech, 131 benchmarking, 25, 32, 42 benchmarking studies, 24 benchmark the performance, 34–35 Ben Franklin Technology Development Program, 22 Berlin, 37 best practice, 32–33, 42, 49, 276 Beta Foundry, 72 Bethnal Green Venture Accelerator (London), 47 Bethnal green ventures, 46, 48, 50 BFPME, 190 BI foundation, 215 BI framework, 215 biotechnology, 49 board of directors, 235 Brazil, viii, xi Brazilian Academy of Sciences, 133 Brazilian Agency for Promoting Exports and Investments (APEXBrasil), 142 Brazilian Association of Innovation and Investment Accelerators (ABRAII), 136 Brazilian Association of Private Equity & Venture Capital (ABVCAP), 141 Brazilian Association of Startups (ABStartups), 136 b2475_Index.indd 284 Index Brazilian Innovation Framework, 137, 143–144 Brazilian Service of Support for Micro and Small Enterprises (SEBRAE), 133, 135, 139, 142 brick-and-mortar, 18 bridging function, 100 bureaucratic approach, 236, 240 bureaucratic reporting processes, 239 business, 35 business accelerators, 35, 50–51 business accelerators phenomenon, 37 business and legal consulting, 41 Business and Technology Center, 36 business angels, 50, 69 business assistance, 36, 217 Business Center for Advanced Technology Laboring (CELTA), 128 business development, 224, 256 business growth, 183, 217 business growth programs, 237 business incubation, 22, 213 business incubation concept, 24 business incubation performance, 217 business incubator industry, 224 business incubator lifecycle, 224 business incubator mechanisms, 18 business incubators, vii, 16, 37, 126, 134, 147, 153, 179, 223 business intelligence, online marketing, 47 business management competencies, 226 business model innovation, 163 business models, 162 business skills, 36, 39, 234 business success, 182, 184 business support, 216 08-Jul-16 3:40:53 PM b2475 Technology Entrepreneurship and Business Incubation Index business support program, 200 business support services, 47, 50, 216 C Cabinet Office, 50 Cambridge Science Park, 257 capabilities, 257, 263 carrying capacity, 95 Carthage Innovation at the EPT, 191 case studies, 37 case studies in North America and Europe, 35 categories of applicants for incubation, 219 Centre d’Innovation et de Développement at INSAT, 191 Centre for Small and Medium Size Enterprises, 253 centres of competence, 19 China’s, 87 China Torch Statistical Yearbooks, 102 Chinese Ministry of Science and Technology, 90 City Venture Corporation (CVC), 22 classification of incubators, 222 Climate-KIC, 64 Climate-KIC Europe, 42, 46, 48–50 clustering and networking effects, 156 clustering effect, 169 CNPq, 133, 138–139 CNPq initiative, 127 CNPq program, 128–130 coaching, 36, 39, 47, 51 coaching sector, 201 coalition building, 276 coercive legitimacy, 42 coercive mechanism, 42 co-evolution, 264 Cohen and Levinthal, 263 b2475_Index.indd 285 285 Cohen, David, 35 cohort of companies supported, 40 cohort of startup teams, 43 commercialization of research outcomes, 152 competence deficient, 257 competitive interdependence, 95 competitiveness, 239 complementarity, 262 compliance, 239 Conducive Environment, 179 conflict, 256 CONSECTI, 139 context of the incubator environment, 234 control, 264 Control Data Corporation, 22 Cooperative Technology Incubators, 132 co-production theory, 105 corporate, business angels, investors, 49 corporate entrepreneurship, 19 corruption, 168 Creation of High-Tech Technoparks in Russian Federation, 153 credibility, 167 criteria for selection, 218 criteria to accept or reject new venture for entry, 39 critical success factors, 38, 50, 218 critical success factors for business incubators, 225 Curitiba Technology Incubator, 131 D decoupling, 70 defines incubation, 15 demand-driven, 240 08-Jul-16 3:40:53 PM b2475 Technology Entrepreneurship and Business Incubation 286 Demo Day, 36, 47, 51 density dependence, 94, 96 Department of Trade and Industry, 215 dependent variable, 265, 274 developing countries, 180 Development Incubators, 18 Department of Science and Technology in conjunction, 215 Department of Trade and Industry, 215 DFID, 237 Difference Engine, 59 differences between incubators and accelerators, 38 digital healthcare, 42, 49 discoveries to commercialization, ix discriminated, 234 dissatisfaction, 238 diversified business incubators, 100 Donor agencies, 237 dot.com bubble, 20 duration, 196 duration programs, 36 dynamic capability, 220 E early stages, 36 early stages of the development, 160 early-stage ventures, 71 ecological perspective, xi, 94, 115 ecological theory, 274 ecological view, 89 economic development, vii, xiii, 163 economic performance, 155 ecosystem, 213 ecosystem accelerator, 67 education, 47, 51 education programs, 36, 40 effective and efficient incubation, 223 b2475_Index.indd 286 Index effectiveness, 153 effectiveness of incubation mechanisms, 32 effectiveness of incubators, 35, 202 effect of science parks and incubator location, 155 efficacy of BI, 214 efficient price signal, 259 Electronic Valley, 129 El Ghazala Technology Park, 191 emerging economics, viii, 151 employment generation,, 223 endogeneity, 253 Enterprise Directorate General, 250 entrepreneur, 252 entrepreneur characteristics, 181 entrepreneurial ecosystem, 126, 137 entrepreneurial intensity, 258 entrepreneurial learning process, 199 entrepreneurial management, 226 entrepreneurial orientation, 214, 226 entrepreneurial performance, 181 entrepreneurial skills, 181 entrepreneurial strategies, 252 entrepreneurial team, 64, 256 entrepreneurial value chain, 267 entrepreneurs, xii entrepreneurship education programs, 131 entry-level activity, 234 environmental technology, 49 equipment of incubators, 240 equity/royalty holdings, 41 Europe, 35 European Business and Innovation Centre Network (EBN), European business incubators, 201 European Business Network (EBN), 142 European Commission, 50 08-Jul-16 3:40:53 PM b2475 Technology Entrepreneurship and Business Incubation Index European Union, 215, 260 Europe: Paris, London, Berlin, 50 evaluation criteria, 33 event history analysis, 266 exemplar papers, 251 exit, 275 exit policy, 266 exploitation, 263 exploratory, xii external actors, 36 external and internal network, 47, 51 external bargaining process, 259 external networks, 155 F F6S.com, 64 failure, 184, 215 failure rate, 87 Family, 46, 48 Feld, Brad, 35 financial and legal support, 47, 51 financial support, 36, 40 financing practices, 40 FINEP National Innovation Prize, 132 Fintech Innovation Lab (London), 46–50, 62 firm growth, 180 firm survival, 253 first wave, 21 foreign markets, 199 formal and informal contacts, 187 formal collaboration, 171 formal economy, 215 formal links, 155 for profit or not-for profit, 222 France, 256 France Technopolis Enterprises Innovation (RETIS), 16 frequency of interactions, 196 frequency of meetings, 196 b2475_Index.indd 287 287 Fundacity, 64 funding, 240 funding mechanisms, 240 funding model, 60 funding structure, 63 funding structure of an accelerator, 63 fund raising, 231 G Gafsa, 191 General, 51 generalizable theory, 276 Generic, 37 generic accelerators, 42, 49 geographical distribution, 90 geographical proximity, 97, 156 geographic focus of accelerators, 62 geographic proximity, 90, 92, 110, 115 German Association of Innovation, Technology and Business Incubation (ATD), 16 Germany, U.K., 256 germination, 223, 238 Global Accelerator Network, 58 GODISA trust, 215 Google, BNP Paribas, Orange and SNCF, 50 governance, 264 governmental funding and grants, 164 government-led infrastructure provisions, 258 government-owned, 100 government-owned BIs, 113 government ownership, xi, 98, 110, 112 graduate companies, 185 graduate firms, 187 graduation, 216, 266 graduation and post incubation, 231 Graham Paul, 35 08-Jul-16 3:40:53 PM b2475 Technology Entrepreneurship and Business Incubation 288 Grand Tunis region, 191 growth and innovation performance, 160 growth mechanisms, 257 growth of tenant firms, 162 growth of young firms, 181, 184 GTZ, 237 guanxi, 99 H habitual entrepreneurs, 267 Hackett and Dilts, 58, 87 hatchery, 16, 20 Healthbox Europe, 42, 46, 48–50 Healthcare corporate, 50 Health Social Innovators, 63 heterogeneity, 276 Higher Education Institutions, 172 Higher Institutes for Technological Studies (ISET), 189 higher level of education, 198, 202 high-growth businesses, 58 high-quality mentorship, 47, 51 high-tech business incubators, 152 high-technology incubators, 261 high-tech startups, 40 history, 273 Hsinchu Science District, 257 human capital, ix, 181, 202 hybrid archetypes, 70 I 2004 Innovation Law, 133, 143–145 ICT sector, 191 ICT startups, 22 Idealab, 22 iDISC, 142 Ile de France, 50 impact assessment, 24 b2475_Index.indd 288 Index impact of the incubation program, 34 Imperial College, 72 Imperial Create Lab, 72 incentives, 255, 266 incubated firms, 213 incubatee competence, 229 incubatee–incubator relationship, 222 incubatee selection process, 214 incubation, 15, 73, 223, 238 incubation centers, 227 incubation continuum, 18 incubation ecosystems, 39 incubation experiences, 232 incubation facilities, 152 incubation industry, 24 incubation management, 224 incubation mechanisms, 15, 35, 42, 151, 154 incubation mechanism value-added, 155 incubation movement, 21 incubation phenomenon, 15 incubation process, x, 32–33, 42, 214 incubation programs, 19 incubation research, 273 incubation strategy, 42 incubator(s), 15, 18, 249 incubator characteristics, 222 incubator density, 107 Incubator Ecosystem in Europe, 57 incubator impact, 33 incubator–incubatee interactions, 88 incubator lifecycle, 243 incubator management expectations, 228 incubator management perspective, 228 incubator manager, 186, 196, 227 incubator mechanisms, 16, 24, 32 08-Jul-16 3:40:53 PM b2475 Technology Entrepreneurship and Business Incubation Index incubator programs, 21 incubators as part of science parks, 22 incubator services, 41 incubator staff, 237 incubator value-added contributions, 163 indemnification, 261 Industrial Center of Batavia, New York, 20 industry clusters, 97 industry-focused programs, 42 industry-university dialogue, 189 informal links, 156 informal networks, 171 informal relationships, 156 Innotech at the Borj Cedria Technology Park, 191 innovation center, 18, 151 innovation habitats, 125, 135, 145–147 innovation habitats in Brazil, 126 innovation market failure, 261 innovative, 179 innovative small and medium enterprises, 151 innovative startups, 37 institutional legitimacy, 49 institutional support, 215 institutional theory, x, 37, 51, 268, 274 intangible services, 47 intellectual property, 92, 252 intensive mentoring, 40 interaction between industry and research, 152 inter-dependent, 89, 264 inter-firm collaboration, ix, 169 inter-incubator relationships, 89, 92, 112 b2475_Index.indd 289 289 intermediaries, 262 internal and external networks, 169 internal bargaining process, 258 internal network, 36 International Association of Science Parks and Areas of Innovation (IASP), 16, 143 international incubator programs, 22 interpersonal relationship, 196 internet-based virtual incubation, 22 interviews, 37 investor demo, 63 investor-led accelerator(s), 65, 72 investors, 36 isomorphism, 277 J job creation, 215 K key performance indicators (KPIs), 223 key success factors, 34, 36 Knight, 261 knowledge agglomeration, 258 knowledge-based enterprises, 19 knowledge-based entrepreneurial growth, 42 knowledge flows, 274 knowledge spillover, 97, 101, 258, 262 knowledge transfer, xi, 186 L L’Accelerateur, 46, 48 lack of business skills, 229 lack of confidence, 241 lack of focus, 229 lack of trust, 237 land2land.com.br platform, 142 08-Jul-16 3:40:53 PM b2475 Technology Entrepreneurship and Business Incubation 290 learning, xii, 264 learning and access to material and non-material resources, 196 learning-by-doing, xiii learning process, 184, 186, 188 Le camping, 46, 48, 50 legal framework, 143 legitimacy, 37, 51, 58, 99, 259 level of analysis, 252, 260, 264, 267 level of education, 181 liability of newness, 154, 259 licensing, 254 licensing strategy, 255 life support, 73, 253 limited duration, 40 link academic knowledge and business, 155 link incubators with universities and research centers, 179 local contexts, 228 local market and serving, 199 London, 37 low levels of demand for incubation services, 238 low-tech, 42 M Madison Gas and Electric (MGE) Innovation Center, 37, 39 maker spaces, ix management policies, 39 management policies and their effectiveness, 35 management skill, 47, 186, 214 managers of business incubators, 163 Manartech at ENIT, 191 Manouba Tech, 191 Mansfield, 261 market driven economy, xi b2475_Index.indd 290 Index market failure, viii, 213, 262 market failure argument, 32 marketing practices, 40 marketing skills, 240 marketplace for incubation, xi markets, 261 Marshall–Arrow–Romer externalities, 101 matchmaker, 72 matchmaker accelerator, 66 maturity, 224 measure of performance, 253 mechanism for small business development, 213 mechanisms, 37 mediation, 216 mentoring, 36, 39, 41, 69 mentoring and coaching, 25 mentorship, 36, 47, 51, 275 Metro Innovation Center, 37 micro-enterprise, 160, 173, 199 Microsoft, 50 Microsoft ventures, 66 Microsoft ventures accelerator, 46, 48, 50 Microsoft Ventures Accelerator, Le Camping, 49 Miller and Bound, 59 Ministry of Communication and Mass Media, 153 Ministry of Development, Industry and Foreign Trade, 139 Ministry of Science and Technology, 133, 138 Ministry of Science, Technology and Innovation, 134 mission, 38 mixed-use incubators, 18 model of accelerators, 40 08-Jul-16 3:40:53 PM b2475 Technology Entrepreneurship and Business Incubation Index model of the selection, 183 models of business incubators: public, 40 monitoring, 217 motivation of the entrepreneur, 181 multilevel, 252 multilevel analytical approach, 277 multinational corporation, 252 multi-tenant space, 20 Municipal Forum of Science, Technology and Innovation Secretaries and Executives, 140 munificent environments, 267 mutualism, xi, 89, 94, 98, 113 N nascent firms, 40 Nascent Industries’ Development Center (CEDIN), 128 nascent ventures, 43 National Academies, 260 National Association of Entities that Promote Advanced Technologies Enterprises (ANPROTEC), 129 National Bureau of Economic Research, 260 National Business Incubation Association (NBIA), 15, 20, 130, 250 National Code of Science, Technology and Innovation, 145 National Confederation of Industry, 139 National Conference of Science, 137 National Conference on Science, Technology and Innovation, 133 National Council for Scientific and Technological Development (CNPq), 126 b2475_Index.indd 291 291 National Council of State Secretaries for Science, Technology and Innovation-Related Issues (CONSECTI), 138 National Council of the State Foundations that Support Research, 138 National Development Bank, 147 National Innovation Agency (FINEP), 129, 133, 138–139 national Innovation Law, 137 national innovation systems, 258 national innovative entrepreneurship movement, 125, 129 National Innovative Entrepreneurship Prize, 132 national program, 128 National Program to Support Business Incubators and Technology Parks, 138 National Program to Support Business Incubators (PNI), 138 National Science Foundation, 260 National Strategy for Science, Technology and Innovation, 141 National Strategy for the Development and Promotion of Small Business, 214 Negative incubation issues, 236 Nesta, 58 Nesta, Nominet Trust, 50 Nesta’s Startup Factories, 57 Netherlands, 256 network, 187 networked incubators, 169 network effects, 262 networking, x, 25, 41, 47 networking activities, 222 08-Jul-16 3:40:53 PM b2475 Technology Entrepreneurship and Business Incubation 292 networking opportunity, 36 networking tool, 187 network nodes, 234 network of external links, 197 network opportunities, 51 networks, 50, 156, 216 networks of incubators, 274 network supports, 39 network theory, 32 network ties, 259 new regional technoparks, 153 new technology-based entrepreneurship, 152 new technology-based firms, 151, 249 new venture ecosystems, 35 new venture failure, 188 new venture performance, 87, 89 new ventures success, 35 Nizhny Novgord, xii, 158 Nizhny Novgorod Region, 173 non-incubated firms, 213 non-profit incubators, 18 non-profit organizations, 50 non-tenant, 163 normative theory, 260 no-tech, 42 nurturing milieu, 15 O OECD, 200 office spaces, 36, 47, 51 off-incubator, 173, 231 off-incubator firms, 162 on- and off-incubator firms, 163 on-incubator firms, 162, 173 operational models, 42 operational policies, 25, 40 opportunity identification, 255 b2475_Index.indd 292 Index organizational resources, 254 organizational survival, 96 organization learning, 252, 268, 274 ownership, 264 Oxford University, InnovationRCA, 72 P Paris, 37 Paris, London, Berlin, 35 partnership programs, 24 past experience, 181 patents, 254 peer networking, 100–101 peer-to-peer learning, 63 pépinières, 16, 20 pépinières d’entreprises, 20 performance, xi, 274 performance assessment, 32, 42 performance horizons, 275 performance measures, 275 performance of BI, 224 performance of incubated companies, 179 performance of young firms, 186 performance outcomes, 35 personal achievement, 182 physical infrastructure, 155 physical resources, 234 physical space, laboratory and workshop facilities, staffing, management, 155 pipeline of potential incubatees, 238 PNI’s initiatives, 141 policy rationale, viii political networking, 89, 99, 113 portfolio governance approach, 275 portfolio specialization, xi 08-Jul-16 3:40:53 PM b2475 Technology Entrepreneurship and Business Incubation Index portfolio view, xii pre-incubation phase, 238 pre-seed stage, 160 principal–principal agency problem, 265 private, 37, 51 private accelerators, 50 private and public, 49 privately run for-profit, 18 private, networked, 40 private non-profit foundations, 127 process of selection, 183 productivity, 239 professional experience, 199 program package, 62 project failure, 218 property-based initiatives, 92 property-based organizations, viii, xiii, 250 Prosiebensat.1 accelerator, 46, 48 public, 37, 51 public accelerators, 50 public authorities, 49 public business incubator, 227 public incubators, 222 public research organizations, 152 Q qualitative, 276 R Radès Technologie Plus, 191 real-options view, 32 recruitment, 235 Reference Center for Business Incubation (CERNE), 135 regional and federal governments’ support programs, 164 b2475_Index.indd 293 293 regional and federal support programs, 167 regional density, 90, 92 regional development, ix regional economic development, viii, 38 regional economy, 162 regional embeddedness, 25 regional incubator density, 111, 113, 115 regional incubators, 162 regional innovation ecosystems, 35 regionally-led partnerships, 43 regional partnerships, 43 regional research centers, 152 Region’s government, 164 relationship between academia and the business, 200 reputation, 167 resource assessment framework, 219 resource-based assessment model, 219 resource-based theory perspective, 32 resource-based view, 154, 213, 216 resource bundles, 265 resource capability of the incubator, 219 resource capabilities of incubator management, 216 resource deficiency, 222 resource deficiencies of potential incubatees, 216 resource dependence theory, 252, 268, 274 resource munificence, 217 resource networks, xi resource stickiness, 262 resource substitution, 262 reviews, viii 08-Jul-16 3:40:53 PM b2475 Technology Entrepreneurship and Business Incubation 294 role of networks, 252 Royal College of Art, 72 Russia, xi, 151, 154 Russian Venture Corporation, 153 Russia’s association, 153 S Saxenian, 258 scarce resources, 238 science and technology parks, hightech business incubators, 151 science and technology parks, technology poles, 145 science park, xii, 18, 249, 251 science parks/research parks, 19 scientific research in Tunisian universities, 200 Scientipole Initiative (and Croissance), 46, 48 second wave, 21–22 Seda Technology Programme (STP), 215 Seed Accelerators Ranking Project, 57 Seed-DB, 59 selection, 216 selection approach, 51 selection, business, 39 selection committee, 45 selection criteria, 39, 92, 222 selection decisions, 235 selection/entry criteria, 41 selection of incubatees, 234 selection process, 36, 39, 50, 64, 171, 213, 217 selection process and criteria, 45, 50 selection strategies, 218, 224 semi-structured interviews, xii serial entrepreneurs, 69 service models, viii b2475_Index.indd 294 Index Services and their Value Added, 35 services available, 36 Sfax, 191 shared services, 21 short-term funding cycle, 240 short-term view, 240 SICAR, 190 Silicon Valley, 257 size of business, 183 skills development, 236 slack in resources, 241 small business development in South Africa, 215 small business development support mechanism, 236 small business perspective, 221 small business survival, growth and development, 239 Small Enterprise Development Agency (SEDA), 215, 226 Small, Micro and Medium Enterprise (SMME), 214, 237 small team, 40 smokestack chasing, 21 social capital, 156, 186, 216 social capital theory, 32, 252, 259 social environment, 254 social impact accelerator Bethnal Green Ventures, 69 Social Incubator Fund, 70 social network, 260 sociocultural attributes of tribes, 234 Sousse, 191 South Africa, viii, xii, 213–214, 221 spatial concentration, 189 spatial heterogeneity, 97 specialization of incubators, 169 specialization strategy, 110, 112, 114 08-Jul-16 3:40:53 PM b2475 Technology Entrepreneurship and Business Incubation Index specialized business incubators, 100 specific, 37, 51 specific accelerators, 42, 49 spin-off, 152 spinout, 256 sponsorship type, 18 stage-gates, x stakeholder, 37, 70, 251, 276 stakeholder objectives, 223 standardized screening, 64 startup, 35, 224, 236 Startupbootcamp, 62 Startupbootcamp SBC2go, 46, 48 startup culture, 60 startup development, 35 startup ecosystem, 50 startup experience, 58 state support agencies, 237 strategic analytical skills, 221 strategic focus, 62 strategic objectives, 223, 276 strategic platforms for urban development, 147 strategic resources, 49 strategy of the incubator management, 234 structural contingency perspective, 263 structural contingency theory, 32 success factors, 35 success fees, 41 successful accelerators, 42 successful BI process, 225 successful entrepreneurs, 36 success of incubation, 217 support infrastructure, 158 support programs, 186 support services, 36, 38 support startups ecosystems, 35 b2475_Index.indd 295 295 surrogate entrepreneurs, 256 survival and growth, 49 survival and growth of young firms, 184 survival of young companies, 199 survival of the incubator, 241 sustainable competitive advantage, 220 sustainable programs, 43 symbolic actions, 67 synergistic collaboration, 214 synergy between academia and enterprise, 189 Système National d’Innovation, 189 systemic level, 252 T tangible resources, 155 tangible services, 47 target driven, 234 Tataouine, 191 team diversity, 51 teams, 255 technical development, 47 technical, entrepreneurial and business management competencies, 235 technical skills, 47 technological entrepreneurial value chain, 254 technology, 18, 49 technology and innovation, 137 technology-based firms, 88, 164, 217 technology-based spin-outs, 19 technology business incubation, 42 technology business incubation mechanism, 34 technology business incubators, 25 08-Jul-16 3:40:53 PM b2475 Technology Entrepreneurship and Business Incubation 296 Index technology entrepreneurship, vii technology incubators, 18–19 technology parks, 126, 134, 147, 152 Technology Parks and Innovations, 152 Technology Parks in Brazil, 126, 128 Technology parks/Technopolis, 19 technology-scouting, 72 technology stage, 255 Technology Startups in Brazil, 125 technology transfer, 152 technology transfer from universities, 126 technopark/incubator location, 164 technoparks, 152–153 TechStars, 35, 57 Techstars London, 46, 48, 50 TECNOPUC, the technology park of the Rio Grande Sul Pontifical Catholic University (PUC-RS), 134 Telefonica’s Accelerator, 57 tenant, 51, 154, 163, 186, 217 tenant firm, xii, 155 tenant performance, 41 tension between incubator management and incubatees, 236 tenure, 266 term limits, performance, x The family, 46, 48 theory of the firm, institutional theory, 252 third wave, 22 Torch Program, 90 Tozeur, 191 training seminars, workshops, 39 transactions costs, 262 transition economies, 99, 115 tribal chiefs or elders, 235 tribal customs, 234 Truestart Accelerator, 62 b2475_Index.indd 296 trust, 222 Tsukuba Science City, 250 Tunisia, viii, xii, 180, 189 Tunisian entrepreneurial context, 200 Tunisian Startups, 179 Tunisian universities, 201 turnover of incubatees, 231 types of accelerators, 49 types of business accelerators, 51 types of business incubators, viii types of market failures, 262 typology, xi, 254 U UK Business Incubation (UKBI) association, 16 U.K Science Park Association, 250 uncertainty, 42 unemployment, 237 United Kingdom, 57 universities, 152, 252 universities and research centers, 187 university-based incubators, 40, 255 university-based technoparks, 152 University City Science Center, 20 university incubator, 35 university–industry linkages, 88 university mission, 255 university research centers, 19 University Research Park in Wisconsin-Madison (URP), 37, 39 university technology incubator, 32 university technology transfer offices, 254 USAID, 237 US incubators, 40 U.S Small Business Administration (SBA), 21 08-Jul-16 3:40:53 PM b2475 Technology Entrepreneurship and Business Incubation Index V validity, 274 valuable networks, 36 value-added contribution, 41, 157, 173, 185 value-added incubatees by universities, 217 value-added services, 25, 36 value chain, 221 value of IMs, 162 value of incubation mechanisms, 156 value of the contribution by BI, 241 VC, 164 velocity, 62 venture capital, 50 venture capitalists, ix, 94 venture team, 51 Virginia Tech Corporate Research Center (VT-CRC), 36, 39 virtual clients, 231 virtual incubation, 20 virtual incubation support, 36 virtual incubators, 20 b2475_Index.indd 297 297 VRIN, 216 VT Knowledge Works, 36 W Wayra, 72 wealth creation, 88, 249 weekly evaluation, 47, 51 wet lab incubators, ix Wisconsin Alumni Research Foundation (WARF), 37 without wall or virtual, 18 workshops, 47, 51 World Alliance for Innovation (WAINOVA), 143 World Bank Information for Development Program (infoDev), 142 world class standard, 153 Wuhan Eastlake Hi-tech Innovation Center, 91 Y Y-Combisnator, ix, 35, 57, 59 08-Jul-16 3:40:53 PM ... PM b2475 Technology Entrepreneurship and Business Incubation xiv Technology Entrepreneurship and Business Incubation Audretsch, D B., Belitski, M., and Desai, S (2015) Entrepreneurship and economic... b2475 Technology Entrepreneurship and Business Incubation PHASE 1: Pre -incubation/ Idea development 08-Jul-16 3:42:25 PM b2475 Technology Entrepreneurship and Business Incubation Technology Entrepreneurship. .. Sajani - Technology Entrepreneurship and Business Incubation. indd 19/5/2016 9:17:35 AM b2475 Technology Entrepreneurship and Business Incubation Contents Redux: What We Know about Business Incubation