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• W2897720801 abstract "Business enterprise (BE) contribution to a nation’s economic growth (NEG) (NEG is a nation’s overall economic growth measured by parameters like growth, domestic product, employment generation) depends upon the optimum utilization of the resources of any given economy by increasing the efficiency of existing BEs and promotion of new BEs. Progressive policy interventions are intended to ensure the optimal functioning and sustainability of these enterprises or organizations by protecting them from an exploitative and dynamic external environment using implicit (subsidies, quota, tariffs) policy tools and to address market failure. Explicit policy prescriptions include promoting Innovation, developing S&T infrastructure, as one of the critical components for ensuring a new BE’s sustainability and growth overcoming systemic barriers leading to failure and promoting interaction among innovation actors. These prescriptions and interventions resulted in the emergence of state-supported formal business incubation model leveraging both explicit and implicit policy intervention in a quintuple helix framework bringing together and engaging all stakeholders for improving knowledge creation and translation efficiency. The adoption of this model is aimed at assisting NBEs in overcoming technological, operational, financial market related and other barriers in their early stages of their life cycle to reduce the high failure/mortality rates during these stages. This study undertakes a critical review of the literature in business incubator and business incubation (BI) domain to identify the services provided by BIs and maps their critical contribution to the success of the BI-NBE (NBEs refer to those BEs at an preliminary ideation stage with unproven and/or technology or business model innovation) dyad. Our findings suggest that there is no convergence on what is an effective or ineffective BI. (For the purpose of this study, BI indicates both business incubator and business incubation and is used interchangeably.) However, there is a common consensus on the criticality of the availability of knowledge, finance and other crucial resources to the new BEs (NBE) but the way these are delivered by BIs to attain maximum impact is still not very well defined. Given this, the study proposes that a sustainable generic framework for delivery and impact assessment of BI services is critical. This framework should ideally address the weaknesses of the current approaches of BI-NBE dyad in terms of structure and diversity of service offerings. It also advocates a policy design that would facilitate a robust BI-BE engagement network to leverage their individual strengths across this network to accelerate and sustain the growth of this ecosystem resulting in monetization and wealth creation of a nation." @default.
• W2897720801 created "2018-10-26" @default.
• W2897720801 creator A5026331143 @default.
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• W2897720801 date "2018-01-01" @default.
• W2897720801 modified "2023-09-23" @default.
• W2897720801 title "Generic framework of a Business Incubator Model for a Sustainable Innovation Ecosystem" @default.
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• W2897720801 doi "https://doi.org/10.1007/978-981-13-1894-8_12" @default.
• W2897720801 hasPublicationYear "2018" @default.
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