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Summary

Longtime NBIA President & CEO Dinah Adkins offered this list of 10 keys to effective business incubation during a speech to the Canadian Association of Business Incubators in 2002. Her summary of best practices is just as valid now as it was then.

10 keys to incubation success

by Dinah Adkins

August 2002

In a speech that kicked off the Canadian Association of Business Incubators' recent conference in Toronto, NBIA President and CEO Dinah Adkins offered a list of 10 keys to effective business incubation. Afterward, several people asked Adkins if she could make the list available to them, so NBIA decided to provide it to all our members via NBIA Review. The following points are adapted from Adkins' May 1 speech.

1. Effective business incubation programs are based on legitimate feasibility studies and business plans. These essential documents must identify the market an incubator will serve and prove its financial viability. As June Lavelle, former NBIA board chairwoman and an incubation industry pioneer, used to say, "Some of these things were so poorly put together that God himself couldn't manage them."

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Keywords: best practices

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