Lecture 7 - Incubators and Research Hubs

Question 1

What is an incubator?

Answer 1

A physical location in which a new business can “incubate” and provides a unique mix of physical and intangible infrastructure that can ‘nurture’ the business

Question 2

What does a research hub do?

Answer 2

create employment, commercialize new technologies and aid in the development of local economies through high paying jobs. it operates across the community in general and specific areas including art and craft, business and manufacturing, agriculture biotech, food, IT and technology

Question 3

Where are Biotechnology Incubators usually located?

Answer 3

Many Biotech companies develop within the setting of universities and research institutes by providing a mean to transfer advanced technologies from academic institutions into commerce and industry, as well as to provide access to labs, expertise, infrastructure and technology to support companies in early stages.

Question 4

What are key features of Incubators?

Answer 4

They are small, and can be the size of just a floor in a building. They accommodate a range of tenants, part-time and small. Tenants graduate when they outgrow the space/ need. Assistance packages can be tailored for companies in similar stages

Question 5

What are the key features of Research and Technology Parks?

Answer 5

Large scale projects that accommodate tenants from small to large companies. Complementarity effects with limited assistance or none. May contain an incubator for early stage companies