Incubator developers in the United States share many of the same challenges and experiences as their counterparts in some other regions, especially those regions with similar political, economic and educational systems, such as Western Europe. However, once beyond the borders of North America and Western Europe, incubator developers face increased and diverse challenges, ranging from cultural barriers to regulatory issues.
One component of the development process that absolutely must be studied closely is whether the local culture will be accepting of those who pursue entrepreneurship. “Inaccurately assessing the needs of the entrepreneurial culture, the resources available in the community, and the ability of potential entrepreneurs to carry out the steps of starting a business can mean serious trouble for an incubation program,” says Dinah Adkins, NBIA president & CEO.
While researching NBIA’s recent publication, Developing a Business Incubation Program: Insights and Advice for Communities, author Kathleen Boyd spoke with several experts about cultural challenges to incubator development. Following are some excerpts from the book.
This article also is available as a PDF Quick Reference document through the NBIA Bookstore.
Keywords: entrepreneurial pool, international incubation, policy
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