NESTA and the Institute for Manufacturing at Cambridge University Engineering Department have just published a review of current knowledge on the role of business incubation in supporting high-growth ventures. A summary of the key findings are given below (as this topic has strong resonance with open innovation) and the full report can be downloaded from the NESTA publication website.
Incubation for Growth: A review of the impact of business incubation on new ventures with high growth potential Nicola J. Dee, Finbarr Livesey, David Gill and Tim Minshall Business incubators have proliferated since their emergence over 50 years ago. Over this time business incubation has evolved to include a range of incubation practices. Nonetheless business incubation can deliver critical value to tenants. Contrasting early definitions of incubation where survival of tenants was emphasised, we define incubation as “...a shared office-space facility that seeks to provide its incubatees with a strategic, valueadding intervention system of monitoring and business assistance.” (Hackett, S. M. and Dilts, D.M. (2004b) A Systematic Review of Business Incubation Research. ‘Journal of Technology Transfer.’ 29: 55-82). Our key findings follow the structure of the report.
To read the full, original article click on this link: Open Innovation: Business incubation and high growth firms
