Business Incubation and Networking - Analysis based on Taguspark in Portugal.vf
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BUSINESS INCUBATION IN PORTUGAL
The role of cohabitation for networking between incubated and mature firms in a science and technology incubator
A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the Faculdade de Economia da Universidade Nova de Lisboa.
A Project carried out with the supervision of Professor Stefan Meisiek
27th June 2008
Bruno Serrano Nº82
Agenda
Business incubators
Main objectives
Research site
Findings
Discussion
Conclusion
Next steps
Agenda
Business incubators
Main objectives
Research site
Findings
Discussion
Conclusion
Next steps
Evolution of the concept of Business Incubator
Physical space +
Shared services +
Business development
services+
Focus on Networking
• Multi-tenant buildings
• Secretarial support;
• Office equipment
• Business advisory
• Networked incubator;
• Internal and external networking
Organizations that offer a protected environment for new-born firms, providing resources at below-market rates
Business Incubators (1 of 2)
The networked incubator
Social dimensions in the entrepreneuring process Social Capital Theory
Implementation of formal mechanisms of networking
Provide access to resources beyond the incubator
Increase chances of firms surviving after leaving the protected environment of the incubator
Business Incubators (2 of 2)
Internal networking relationships between incubated firms
External networking relationships with entities outside of the incubator
Agenda
Business incubators
Main objectives
Research site
Findings
Discussion
Conclusion
Next steps
Portugal: Incubators in Science & Technology Parks
Lispolis, Taguspark, Madan Parque, (...)
Taguspark Incubated firms share buildings with mature firms
Main objectives
Cohabitation
Incubated firms Mature firms
Networking advantages
Agenda
Business incubators
Main objectives
Research site
Findings
Discussion
Conclusion
Next steps
Taguspark Science & Technology Park created in 1992; Foster the development of S&T activity; Suburban area of Lisbon; Universities + R&D institutions + S&T based industry; Business incubator:
Commercialize the results of scientific investigation Disseminate new technical competencies
Methodology - Semi-structured interviews with 4 entities:
Business Incubator
Incubated firms
Mature firms
Ex-incubated firms
Different perspectives on the same phenomenon
Research site
Agenda
Business incubators
Main objectives
Research site
Findings
Discussion
Conclusion
Next steps
Findings
1st incubation program: “incubator of ideas”
― ≤ 6 months
― Working space (telephone, internet)
― Business advisory business plan
Taguspark
Incubator of ideas
Building
Building
Building Taguspark
Building
Building
Building
Incubator of ideas
2nd incubation program: “business incubator”
― ≤ 9 years
― Discounts on rents
Established firms
Incubated firms
Connections between incubatees
Connections between incubatees and established firms
Universities and R&D institutions
Findings
1st incubation program: “incubator of ideas”
Taguspark
Incubator of ideas
Building
Building
Building Taguspark
Building
Building
Building
Incubator of ideas
2nd incubation program: “business incubator”
Proximitywith other
entrepreneurs
Networking
Problem solvingShare ideas
Share knowledge
Reputability
Access to resources
Motivation
Spontaneous networkingOrganized networking
Findings
Networking in Taguspark:
Informal:
- Events that promote informal
interaction between all firms
Formal:
- Meetings between potential
partners
- As a result of physical proximity
- Solution-driven interaction
When problems or challenges arise, entrepreneurs can walk across the corridor to find help from more experienced firms
Good opportunities to meet people
Not regular; little attendance; little results in terms of business
Not happening anymore
Recognized as the most important advantage from being in the incubator
Real benefits from networking not unanimous
Agenda
Business incubators
Main objectives
Research site
Findings
Discussion
Conclusion
Next steps
Discussion
In literature: relationships between incubated firms within the incubator
≠In the 2nd program: relationships between incubated firms and with
mature firms in the same building
Building
Incubator of ideas
The transition from the 1st to the 2nd incubation program causes a redefinition of the concept of internal networking
The presence of mature firms leverages the potential benefits from networking:
Experience
Resources
Networks
Discussion
Factors that facilitate and hinder networking:
Why are some firms benefiting from this cohabitation while other are not?
Related to the construction of the
incubator
Related to the individuals
Discussion
Factors related to the construction of the incubator:
Number of firms;
Complementarity of skills and competencies;
Existence of common areas
Related to the construction of the
incubator
Related to the individuals
These factors are imposed equally to all firms in each bulding
They don’t explain why, in the same conditions, some entrepreneurs draw benefits from networking while others don’t
DiscussionRelated to the
construction of the incubator
Related to the individuals
Factors related to the individuals:
Networks are not given, but created by individuals
Networks are perceived and valued differently
Need for common motivation
Transition from 1st to 2nd
incubation program
Opportunity to forge relationships with mature firms
Negative impacts in the relationships between incubatees
Business relationships rely on social relationships trust
Agenda
Business incubators
Main objectives
Research site
Findings
Discussion
Conclusion
Next steps
Conclusion
Cohabitation has an important role in promoting networking between young and mature firms. However, it isn’t enough to forge business relationships;
Not all variables are in the hands of the incubator, but some steps can be taken to leverage the potential benefits of networking:
Selection criteria of entrepreneurs;
Criteria for placing firms in the building (both mature and incubater firms);
Industry
Technology
Complementarity of businesses
Complementarity of skills and competencies
Mechanisms of organized networking
Concerning the resources offered by the incubator:
Eliminate the gap between the actual support offered and the way firms perceive it
Agenda
Business incubators
Main objectives
Research site
Findings
Discussion
Conclusion
Next steps
Next steps
Dimensions of networking to be explored in future studies:
Relationship between young firms and universities;
External networking:
How does the incubator promote external networking?
How cohabitation with mature firms helps giving young firms access to external networks?
Comparative studies between Portuguese business incubators
Thank you