University of Chicago
Type of paper: Thesis/Dissertation Chapter
Incubating technology businesses: a national benchmarking study
I plan to develop a business incubator in Africa as a way of shaping future of entire Africa. A business incubator refers to a programme which is designed in helping businesses in their growth and development phase. This project will help many entrepreneurs or business owners across Africa where the business incubator will provide them with the required support in form of mentoring, equipped working space, management assistance, shared office services, access to finance, networking and marketing support, coaching and advice. Therefore, I am planning to start a successful business incubation programme that will provide a rich practical and educational experience (Barrow, 2001).
In this regard the first-time entrepreneurs will be able to benefit a lot from as they will be guided on how to practically run a successful business thus reducing the chances of business failure. The business incubators that I am planning to start will focus more on providing assistance to entrepreneurs who want to invest in the technology business. The project will improve the business performance, improve technology, enhance growth and profitability and also help the new entrepreneurs in technology industry to maximize their value of their ideas across Africa. The project will in improving the SMEs (small and medium-sized enterprise) growth across Africa (Tornatzky & Sherman, 2003).
Many businesses are under threat at their initial stages due to poor management skills and lack of funds among other factors. The project will therefore be aimed at addressing all these factors to ensure that more businesses are succeeding across Africa. I plan to expand the project so as to extend to all the nations Across Africa which would help in reaching and helping more new entrepreneurs. This will in turn help in creating more jobs and also will assist in enhancing use of technology which would help in shaping the future of Africa.
Barrow, C. (2001). Incubators: a realist’s guide to the world’s new business accelerators. Chichester: John Wiley & Sons.
Representing start-up businesses & the role of business incubators. (2006). Mechanicsburg, Pa.: Pennsylvania Bar Institute.
Tornatzky, L. G., & Sherman, H. (2003). Incubating technology businesses: a national benchmarking study. Athens, Ohio: NBIA Publications.