Business Incubators: Wind Turbines of Entrepreneurship? : A qualitative study on University Business Incubators

Abstract: Over the past three decades, interest in the topic of Business Incubation and more specifically University Business Incubation, has increased, due to its potential to encourage entrepreneurial activities, which initiate innovation and economic development. The literature on entrepreneurship devotes significant attention to BI as a tool for supporting entrepreneurs in overcoming difficulties associated with starting a business. Meanwhile, the fact that incubators themselves are vulnerable to different challenges needs to be sufficiently highlighted in the research currently in publication. By adopting an incubator’s perspective on developing entrepreneurs and, therefore, its dynamics that form new ventures, this qualitative study has focused on difficulties adjacent to the administration of the incubator. By building on the Black Box model of incubation, the Triad model, as well as Institutionalized entrepreneurship, the researchers have contributed to the phenomena of UBIs, and the many challenges they encounter when incubating business tenants. The thesis has successfully confirmed the inherent value of ensuring the financial viability of publicly financed incubators while shedding light on the challenges involved in achieving self-sufficiency. This examination has delved into the acquisition of government funds by incubators and explored the opportunities and constraints accompanying such support. Building on existing literature, which identifies sustainability and growth as key indicators, this study has provided empirical evidence and analysis that underscores the detrimental impact on the incubator's core mission when these criteria are not maintained.