Business incubators models of the USA and UK: A SWOT analysis
Hanadi Mubarak Al-Mubaraki, Kuwait University, Kuwait
Michael Busler, Richard Stockton College, USA
Purpose: To identify the strengths, weaknesses, opportunities and threats of business incubator models and their potential use in worldwide. Methodology: We studied two international cases: a)United States, b)United Kingdom.
Findings: The results highlight the similarities and differences between the countries. It adds knowledge for both academics and practitioners who are interested in business incubation.
Value: This paper is the first to utilize the SWOT technique to analyze the business incubation field and provides recommendations to implement successful adoption of the incubator’s strengths. The potential of Business Incubators who act as models in worldwide and their contribution to the economy, the active role they play in the local, regional and national economic development are discussed.
Implications: Adaptation of a Business Incubator Model leads to 1) the support of diverse economies, 2) the commercialization of new technologies, 3) job creation and 4) increases in wealth, given that weaknesses can be overcome.
Keywords: Business Incubators, Economic Development, Maryland Technology Development Corporation (TEDCO), Coventry University Enterprise (CUE), SWOT Analysis, Technologies Commercialisation