Business Incubation as an Instrument of Innovation: The Experience of South America and the Caribbean

Authors

  • Haven Allahar Arthur Lok Jack Graduate School of Business, University of the West Indies
  • Candace Brathwaite Arthur Lok Jack Graduate School of Business, University of the West Indies

DOI:

https://doi.org/10.5585/iji.v4i2.107

Keywords:

Business Incubation, Innovation Ecosystem, Economic Development Strategy, Business Innovation, Entrepreneurship Development, Innovation Management, Review

Abstract

This paper examines the experience of business incubation as an innovative developmental instrument based on the recent experience of the South American countries of Brazil and Chile and the Caribbean island nation of Trinidad and Tobago. A qualitative research method was adopted involving a review of published reports, journal articles and relevant case studies; and face-to-face semi-structured interviews with incubator managerial staff. The major findings are that there are great similarities among the incubators studied in terms of their links to universities, services offered, and funding challenges, but there is growing acceptance of incubation as a potentially valid tool for promoting business development and innovation although most incubators are at the early stage. The paper is original because the case study application to incubation in Trinidad and Tobago is new with only one related article published, and this study therefore adds value to the body of research because business incubation has been under-researched in the study area. The research is limited to the extent that the case study focuses on a comparison of selected incubator features and did not include the views of clients. The practical implications of this study is that sponsors of incubators and managers need to obtain a deeper understanding of the incubation ecosystem especially with regard to innovation-based incubators, if successful innovative businesses are to emerge. The results of the study can also be generalized over the small island developing states of the Caribbean.

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Author Biographies

Haven Allahar, Arthur Lok Jack Graduate School of Business, University of the West Indies

Adjunct lecturer in entrepreneurship for EMBA class and EMBA and MBA thesis supoervisor.

Managing Director, All-Inclusive Project Development Services Limited (Planning Consultants)

Candace Brathwaite, Arthur Lok Jack Graduate School of Business, University of the West Indies

Manager, ALJGSB-UWI Business Booster

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Published

09.06.2016

How to Cite

Allahar, H., & Brathwaite, C. (2016). Business Incubation as an Instrument of Innovation: The Experience of South America and the Caribbean. International Journal of Innovation, 4(2), 71–85. https://doi.org/10.5585/iji.v4i2.107