Mixed -use Incubator Handbook: A Start-up Guide for ...

Mixed-use Incubator Handbook: A Start-up Guide for Incubator Developers

Mixed-use Incubator Handbook: A Start-up Guide for Incubator Developers

August, 2009 This report has been prepared by

Mark Davies, BusyInternet



The findings, interpretations and conclusions expressed herein are entirely those of the author(s) and do not necessarily reflect the view of infoDev, the Donors of infoDev, the International Bank for Reconstruction and Development/The World Bank and its affiliated organizations, the Board of Executive Directors of the World Bank or the governments they represent. The World Bank cannot guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply on the part of the World Bank any judgement of the legal status of any territory or the endorsement or acceptance of such boundaries.

The material in this publication is copyrighted. Copying or transmitting portions of this work may be a violation of applicable law. The World Bank encourages dissemination of its work and normally will promptly grant permission for use. For permission to copy or reprint any part of this work, please contact info@.

This report was commissioned by the Information for Development Program (infoDev) and the World Bank Group, and prepared by Mark Davies (BusyInternet).

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Contents

Introduction to Incubation

5

Why Business Incubation?

6

What Challenges do SMEs face?

7

Understanding the models

8

Incubator Examples

10

Understand your Market

11

Customize Your Model

14

Write the Business Plan

15

Key Considerations

16

Design Smart

21

Incubate

23

Partners & Investors

25

Financials Needed

26

Rollout Schedule

28

This handbook is designed to help you think through the issues involved in establishing an incubator. This first edition will be revised and expanded over time as we determine the target audience and information required. Feel free to use this information as you see fit under an Attribution-Non-Commercial-No Derivative Works 3.0 United States License.

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1. Introduction to Incubation

Business incubation formally began in the US in the 1960s, and later developed in the UK and Europe through various related forms (eg. Innovation centres, technopoles/science parks). It is recognized as a way of meeting a variety of economic and socio-economic policy needs which can include:

Employment and wealth creation Support for small firms with high growth potential Transfer of technology Promoting innovation Enhancing links between universities, research institutions

and the business community Industry cluster development Assessment of a company's risk profile In general, an incubator is a physical location that provides a defined set of services to individuals or small companies. This may include specific types of office space, flexible lease terms, access to technology, financing, and technical assistance (such as marketing, legal, finance, HR, and other business development services). By locating similar or complementary entities in proximity to each other, the incubator may also play a critical role in promoting knowledge transfer, both formally and informally. Recently in developing countries, and under the guidance and promotion of infoDev, incubation has become an interesting approach to accelerate the development of technologies, industries and business skills. However, it should be noted that the needs of these communities can often be radically different to a more mature corporate environment where education, business training, and public institutional support may be a completely different context to Europe and the United States. This document is aimed at the context of developing countries, and is intended to be a useful tool for anyone considering setting up an incubator. These are the key questions that should be considered and what we hope to introduce in this booklet:

Why business incubation? What challenges do SMEs face? What are the models of incubation? What should I consider for my market? How do I determine the feasibility of such a concept? What are the steps required to get up and running?

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