Name:
Vanetta Skeete
Email:
vanskeete@gmail.com
School:
Mona School of Business
Research Interests:
Entrepreneurship: Business Incubators; the Creative Industries; and the Informal Sector
Viewpoint :
Effective business incubation programmes can play a significant role in enhancing entrepreneurial activity and hence a country’s economic development.
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The Role of Business Incubators in Entrepreneurial Development in Jamaica Abstract Objectives: The research explores the potential of business incubators as a tool in the development of entrepreneurial activity in Jamaica. It examines the effectiveness of the services provided by the incubator for its clients, the impact of the incubator programme on graduate firms and the role of management in achieving incubator success. It attempts to develop a conceptual model that positions the incubator as a catalyst for the enhancement of entrepreneurship in Jamaica and other developing countries. Value: The business incubation concept has been attracting greater attention from universities and researchers, governments, donor agencies and private sector interests who believe that entrepreneurship plays a significant role in economic development. Additionally, the study may inform prospective entrepreneurs and other community interests on the option that the incubator provides for business development. Prior W ork: Business incubation is widely viewed as an effective support measure for young and innovative ventures (Schwartz, 2009). Several authors have examined the potential of incubators as a tool for enterprise development (Atherton & Hanon, 2006; Sherman, 1999; Albert & Gaynor, 2004; Lalkaka, 2000 ) and have examined different aspects of incubator programs in order to determine their effectiveness. Not only is the trend toward an increase in the number of incubators, but it has been largely recognized that there is a need for incubator models that effectively address the specific circumstances of countries, regions or communities (Lalkaka, 2004). Despite the popularity of incubators worldwide, the concept is fairly new to Jamaica and the Caribbean region where very little research has been done on the concept. Approach: The research explores the concept of business incubation, using Jamaica’s only incubator, the Technology Innovation Centre, as a case study. Best practices of successful incubator programmes world-wide are integrated into the findings to develop a conceptual model.