National Business Incubation Association; Your source for knowledge and networks in business incubation

Summary

NBIA's 2006 State of the Business Incubation Industry report offers inspiration for incubation professionals, demonstrating that the industry has not only survived the dot-com bust, but is thriving. This article summarizes some of the reports' more significant findings – and also demonstrates that NBIA member programs have stronger profiles than nonmember programs.

Solid growth: 2006 SOI study reveals that incubation industry continues to thrive

by Linda Knopp

August 2008

When NBIA crunched the numbers for the 2006 State of the Business Incubation Industry report, we were pleased to have statistical evidence to back what we have believed all along: that the business incubation industry continues to thrive. In communities across North America, incubator sponsors are supporting entrepreneurs in their endeavors to create successful new businesses. And their efforts are paying off. NBIA estimates that in 2005 alone, North American incubators assisted more than 27,000 start-up companies that provided full-time employment for more than 100,000 workers and generated annual revenue of more than $17 billion.*

“With six similar industry studies under our belt since 1989, we have seen the steady growth of business incubation as a proven means of supporting emerging companies and creating homegrown community wealth,” says Dinah Adkins, NBIA president & CEO.

Even after the dust settled on the dot-com bust of the early 2000s, the number of business incubation programs in North America has continued to increase. In late 2005, NBIA estimated that approximately 1,100 business incubators were operating in North America, up from 950 in 2002. Even more impressive is the growth in the number of operating incubation programs since the late 1990s; since 1998, the number of incubators in North America has nearly doubled.

NBIA members: Click here to read the entire article. Not an NBIA member? Click here to join today!

This article also is available as a PDF Quick Reference document through the NBIA Bookstore.

Keywords: advocacy, budget -- incubator, economic development, economic impact, financial management -- incubator, funding sources/fundraising -- incubator, impact of incubation, stakeholder development, stakeholder relationship management

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