Dr Hanadi Al Mubaraki

Best practices of business incubators in developed and developing countries Dr Hanadi Al Mubaraki

Best Practices of Business Incubators in Developed and Developing Countries-The Roadmap for the Gulf Cooperation Council (GCC) CountriesFor over fifty years, business incubation has been implemented in the United States. Business incubators are viewed by many countries' governments as dynamic tools for fostering new ventures regarding economic development, job creation and as vital components of an entrepreneurial infrastructure. Currently, there are over 7000 business incubators worldwide. Approximately 1400 business incubators operate in North America, including 1115 in the U. S. In Europe, approximately 900 business incubators are in existence and around 21 in the Middle East. Business incubators must be adapted by the Gulf Cooperation Council (GCC) countries, which will lead to the support of diverse economies, the commercialization of new technologies, job creation and wealth building. The purpose of this research is to describe and compare key indicators of incubation best practices worldwide and to identify the strengths and weaknesses of business incubators models around the world. The methodology is based on four tasks: 1) literature review, 2) international case studies, 3) international interviews, and 4) survey. The nature of this research is mixed approach qualitative and qualitative. This investigation uses successful International Case Studies based on models in developed and developing countries. The data was mainly collected by survey, means of semi-structured interviews and organizational documents from each case study. Results will provide incubators a roadmap for the development of new economies based on technology, as well as value added in technology transfer, innovation development, and an entrepreneurial climate.