Business Incubation and Networking - Analysis based on Taguspark in

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Text of Business Incubation and Networking - Analysis based on Taguspark in

  • 1. A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the Faculdade de Economia da Universidade Nova de Lisboa. BUSINESS INCUBATION IN PORTUGAL The role of cohabitation for networking between incubated and mature firms in a science and technology incubator Bruno Serrano N82 A Project carried out with the supervision of Professor Stefan Meisiek 27th June 2008
  • 2. Agenda Business incubators Main objectives Research site Findings Discussion Conclusion Next steps
  • 3. Agenda Business incubators Main objectives Research site Findings Discussion Conclusion Next steps
  • 4. Business Incubators (1 of 2)Organizations that offer a protected environment for new-born firms,providing resources at below-market rates Evolution of the concept of Business Incubator Business Physical Shared Focus on + + development + space services Networking services Multi-tenant Secretarial Business Networked buildings support; advisory incubator; Office Internal and equipment external networking
  • 5. Business Incubators (2 of 2) The networked incubator Social dimensions in the entrepreneuring process Social Capital Theory Implementation of formal mechanisms of networking Provide access to resources beyond the incubator Internal networking relationships between incubated firms External networking relationships with entities outside of the incubator Increase chances of firms surviving after leaving the protected environment of the incubator
  • 6. Agenda Business incubators Main objectives Research site Findings Discussion Conclusion Next steps
  • 7. Main objectives Portugal: Incubators in Science & Technology Parks Lispolis, Taguspark, Madan Parque, (...) Taguspark Incubated firms share buildings with mature firms Incubated firms Mature firms Cohabitation Networking advantages
  • 8. Agenda Business incubators Main objectives Research site Findings Discussion Conclusion Next steps
  • 9. Research site Taguspark Science & Technology Park created in 1992; Foster the development of S&T activity; Suburban area of Lisbon; Universities + R&D institutions + S&T based industry; Business incubator: Commercialize the results of scientific investigation Disseminate new technical competencies Methodology - Semi-structured interviews with 4 entities: Business Incubator Different perspectives Incubated firms on the same Mature firms phenomenon Ex-incubated firms
  • 10. Agenda Business incubators Main objectives Research site Findings Discussion Conclusion Next steps
  • 11. Findings 1st incubation program: 2nd incubation program:incubator of ideas business incubator Taguspark Building Taguspark Building Building Building Building Building Incubator of ideas Incubator of ideas 6 months 9 years Working space (telephone, Discounts on rents internet) Business advisory business plan Established Incubated Universities and firms firms R&D institutions Connections between Connections between incubatees incubatees and established firms
  • 12. Findings 1st incubation program: 2nd incubation program:incubator of ideas business incubator Taguspark Building Taguspark Building Building Building Proximity with other Building entrepreneurs Building Incubator of ideas Incubator of ideas Share ideas Problem solving Access to Share resources Networking knowledge Motivation Reputability
  • 13. Findings Networking in Taguspark: Organized networking Spontaneous networkingInformal: - As a result of physical proximity- Events that promote informal - Solution-driven interactioninteraction between all firms Good opportunities to meet people When problems or challenges Not regular; little attendance; little arise, entrepreneurs can walk results in terms of business across the corridor to find help from more experienced firmsFormal: Recognized as the most important- Meetings between potential advantage from being in thepartners incubator Not happening anymore Real benefits from networking not unanimous
  • 14. Agenda Business incubators Main objectives Research site Findings Discussion Conclusion Next steps
  • 15. Discussion The transition from the 1st to the 2nd incubation program causes aredefinition of the concept of internal networking In literature: relationships between incubated firms within the incubator Incubator of ideas Building In the 2ndprogram: relationships between incubated firms and with mature firms in the same building The presence of mature firms leverages the potential benefits fromnetworking: Experience Resources Networks