Business incubators are intended to enhance the growth of new firms by minimizing business failures. The environment for incubators improved as governmental policies shifted their emphasis toward small business generation. However, not enough is understood about how, why, and under what...

This article examines the development process of business incubators. Nearly 60 stakeholders working with 12 incubators were interviewed. A three-stage life cycle model is posed to describe the development process. The start-up stage is characterized as real estate driven; emphasis is placed on...