Challenges and opportunities of innovation and incubators as a tool for knowledge-based economy

Abstract

Objectives: The purpose of this research is to analyze and identify the challenges and opportunities of innovation and incubators programs and their potential use worldwide. Prior work: Discussed innovation and incubators as a powerful tool for knowledgebased economy from different perspectives using different criteria to measure the key performance indicators of best practices for innovation in the United States (US), United Kingdom (UK), and Gulf Cooperation Council States (GCC). The results are part of the ongoing research project funded by a grant from the Kuwait Foundation for Advancement of Sciences (KFAS-2012(KFAS- -1103. Approach: The methodology is based on quantitative approach (survey questionnaire) and literature review. Results: This paper provides several recommendations for the international implementation of innovation and incubators outcomes. Implications: This paper provides value-added knowledge for both academics and practitioners who are interested in the successful adaptation of innovation and incubators. Value: The authors believe that this paper demonstrates an added value to the current literature on innovation and incubators and fills the gap in the case studies in the literature of developed and developing countries and presents a more comprehensive analysis of progress and challenges to knowledge-based economies.

The Ecosystem Of Russian Technoparks: The Issues Of Creation And Development

“…were corrected. The study of the development of such structures abroad (Al-Mubaraki & Busler, 2017) and of the role of innovative entrepreneurship in the development of regions (Nikolaidis, Fouskas, & Carayannis, 2013) contributed to this as well.…”

The Role of Incubators in the European New Space Economy

“…The lack of universally agreed-upon key performance indicators makes such comparisons quasi-impossible. 17 Two main differences that have been observed are worth mentioning. First, emerging space countries are focusing more on establishing new space ecosystems, where incubatees ** are provided with government grants under certain conditions, but, in general, do not have to be reimbursed afterward.…”

“…In contrast, although generally accepted in the Western entrepreneurial economy, sharing of equity is less traditional in the case of emerging space nations. 17 Bridging to the next chapter, it is interesting to consult a recent research article analyzing the European incubator landscape in comparison with the U.S. situation. On the basis of comparative research, van Weele et al 18 compare the U.S. and European incubator landscape, and find the main issues in Europe are a lack of market orientation, with a too high interest in technical features but insufficient knowledge of the target market.…”

Role of Technology Incubation in India’s Innovation System: A Case of the Indian Institute of Technology Kanpur Incubation Centre

“…These TBI centres located around universities or institutes provide a controlled atmosphere to these incubatees or start-ups or techno-starters to convert their ideas all the way into a successful product (Knudsen, 2007). However, besides converting ideas to innovation, and delivering cost-effective technologies in the market, technology developed in these incubation centres irrespective of their locations has not only promoted economic and technological capabilities but has also escalated employment opportunities alongside solving the problems of the community and region around the incubation centres (Al-Mubaraki, 2015).…”