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Racking up honors: Taiwanese incubator receives second major award in a year

by Linda Knopp

October 2006

When NBIA named the Industrial Technology Research Institute Incubator Center as its Randall M. Whaley Incubator of the Year in May, it marked the second time in a year that the Taiwanese incubator had received a major business incubation award. In August 2005, the program received the Asian Association of Business Incubation’s most prestigious award, the AABI Award, for accumulating the highest point total among Asian incubators in six categories: management, services, clients, graduates, outcomes and finances. Those who attended the 2006 NBIA awards luncheon in St. Louis heard representatives of the ITRI Incubator Center give a heart-felt speech in acceptance of NBIA’s top honor.

It’s not surprising that the ITRI Incubator Center has achieved two international honors recently; since opening in 1996, the incubator has recorded some pretty impressive numbers.

ITRI – a nonprofit R&D organization with close ties to the Taiwanese government and local industry – began operations in 1973 with a three-pronged mission: to create innovative technology, develop emerging industry and enhance industrial competitiveness in Taiwan. Throughout its early years, the organization racked up an impressive track record of spinning off high-tech companies, so adding programs to nurture Taiwanese entrepreneurs seemed a logical next step. But the incubator’s story didn’t start out brightly.

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Keywords: practices, economic impact of incubation, international incubation, technology incubator

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