Business Incubator Solutions for Private Sector Competitiveness Development
Incubation Centres facilitate economic development by providing a suitable environment to nurture new enterprises thus improving the entrepreneurial base. Business incubators also provide hand holding, mentoring, specialised support services and networking during the start up phase of an enterprise. An Incubator helps in incubating knowledge based and technology led start-ups into sustainable businesses by providing expert guidance, offering wide range of shared & specialised services including critical support services, innovative financing and networking support within well equipped work space.
Business incubators are organizations that support the entrepreneurial process, helping to increase survival rates for innovative startup companies. The resources and services open to an entrepreneur include: provision of physical space, management coaching, help in making an effective business plan, administrative services, technical support, business networking, advice on intellectual property and sources of financing. The incubation process is intended to last around 2-5 years. Business incubators can be developed either in the private or public sphere. Private incubators are for-profit firms that take equity or receive a fee for the business services they provide to their clients. In the last twenty years, many developed and developing countries have started large systems of public business incubators to encourage and assist entrepreneurship. In many cases, public incubators are designed to stimulate the development of new products and services in high-tech industries.
Mega Ace Consultancy has been actively involved in the study and development of the small and medium sector companies. The setting-up of Business Incubators helps in evaluating; setting-up; monitoring and handholding of SME sector companies and providing them with expert support in the initial stages of their growth. With its experience of working among the SME sector including in the Caribbean region under the Pan-Caribbean SME-ICT Competitiveness Development Programme, Mega Ace Consulting offers a whole range of services from conception, execution and operations of Business Incubators. Provided below is an online of Mega Ace Consultancy service offerings for setting-up and developing business incubator. With it office in India and UK, and a world-wide network of associate consultants including the US, Mega Ace Consultancy is ideally suited to bring a developed and developing country experience for setting-up Business Incubators.