HANADI MUBARAK AL-MUBARAKI, KUWAIT UNIVERSITY, KUWAIT
MICHAEL BUSLER, RICHARD STOCKTON COLLEGE, USA
Abstract: Business incubators can help young firms to survive and grow during their startup years, and they can play a key role in the economic development of a community or region. In developing countries including Kuwait and the other Gulf Cooperation Council (GCC) member states, business incubators can be particularly valuable in helping to develop local economies, promote technology transfer, create new enterprises and generate jobs. There is potentially a wealth of information available about the characteristics and services offered by business incubators in the United States and other countries, which might be used to inform the development of incubator programmes within these countries. To tap into this information, an Internet-based survey was conducted with a sample of business incubators worldwide. The survey results are used to make recommendations for how to maximise the success of incubators, including matching services offered to the needs of clients and involving a range of community stakeholders in the development of their programmes. A number of options are proposed for developing and expanding the business incubator concept in Kuwait and the GCC member states.
Keywords: Business Incubation, Economic Development, Entrepreneurship