Managing the Stakeholders Network in Technology Business Incubators
Subject Areas : Science and Technology Parks and IncubatorsHasan KIhakbaz 1 , Jafar Eyvazzpour 2
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Keywords: Technology Business Incubator, Stakeholders Network, Technology-based Firms,
Abstract :
The Technology Business Incubators (TBIs) provide an effective means to link technology, capital and know-how in order to accelerate the development of new technology-based companies, leverage entrepreneurial talent, and thus speed the exploitation of technology. The TBIs assist emerging businesses through an array of business support services, developed by incubator management such as assistance in developing business and marketing plans, building management teams, obtaining capital, and ease of access to a range of other more specialized professional services. In addition, incubators provide flexible space, shared equipment, and administrative services. Therefore, the TBI goal is to produce successful firms that will leave the incubator financially viable and freestanding. To address this goal, involvement and support of stakeholders, consisting of sponsors drawn from the local business community, government, the broader community, venture capital providers, technopreneurs, incubator managers and staff are vital. The stakeholders in an incubator will help sustain its financing, offer assistance to its client companies, serve on governing boards, and play generally a key role in the incubator's success. The purpose of this paper is to explain the reason for involving stakeholders in TBI management and necessity of establishing a healthy relationship with them, based on an appropriate set of expectations regarding the nature of the relationship.
