Technology Business Incubators
Annabelle Vivien C. Alonzo BSM – 4 January 23, 2014
AN ABSTRACT ON THE TOPIC: TECHNOLOGY BUSINESS INCUBATORS
A technology business incubator is a facility designed to support the successful development of entrepreneurial companies through an array of business support resources and services, developed and orchestrated by incubator management and offered both in the incubator and through its network of contacts.
Technology Business Incubation is relevant to all the four fields of management namely, human resource, finance, marketing and production but it is most relevant to operations since TBI is a strategy used to promote innovation and technopreneurship for the country’s socio-economic development. This would greatly affect or even change the operational aspect of a company by helping them become more efficient and more effective in their operations. In the marketing aspect, however, companies who engage in technology business incubation create highly innovative products which make it easier for the marketing and sales department to sell their product. In addition, one of the most common incubator services is the networking activities and marketing assistance. Companies can greatly benefit from this as resources and marketing people are made easily accessible by TBIs. In the area of finance, TBIs would be able to give entrepreneurs a premium and exclusive access to bank loans, loan funds, and guarantee programs through the wider array of networks that the entrepreneur would be exposed to. It is also a function of the management of a TBI program to provide an access to angel investors for the entrepreneurs. An example of a benefit that a company may get from TBI is the lesser initial startup capital one would need to generate since TBIs offer business basics and facilities, and help with financial management of the company. Technology business incubation greatly impacts the human resource aspect of an organization by adjusting to the
AN ABSTRACT ON THE TOPIC: TECHNOLOGY BUSINESS INCUBATORS
A technology business incubator is a facility designed to support the successful development of entrepreneurial companies through an array of business support resources and services, developed and orchestrated by incubator management and offered both in the incubator and through its network of contacts.
Technology Business Incubation is relevant to all the four fields of management namely, human resource, finance, marketing and production but it is most relevant to operations since TBI is a strategy used to promote innovation and technopreneurship for the country’s socio-economic development. This would greatly affect or even change the operational aspect of a company by helping them become more efficient and more effective in their operations. In the marketing aspect, however, companies who engage in technology business incubation create highly innovative products which make it easier for the marketing and sales department to sell their product. In addition, one of the most common incubator services is the networking activities and marketing assistance. Companies can greatly benefit from this as resources and marketing people are made easily accessible by TBIs. In the area of finance, TBIs would be able to give entrepreneurs a premium and exclusive access to bank loans, loan funds, and guarantee programs through the wider array of networks that the entrepreneur would be exposed to. It is also a function of the management of a TBI program to provide an access to angel investors for the entrepreneurs. An example of a benefit that a company may get from TBI is the lesser initial startup capital one would need to generate since TBIs offer business basics and facilities, and help with financial management of the company. Technology business incubation greatly impacts the human resource aspect of an organization by adjusting to the