Business Incubators: Boon or Boondoggle for SMEs and Economic Development of Pakistan

Abstract

In this age of technological development, business incubation system is an important tool, for the government to implement and facilitate technological innovation and entrepreneurship development.An effective business incubation system renders an important role in the nourishment of local, national and regional economies by producing employment opportunities & development of SMEs.This study presents evidence that suggests business incubators are important for economic development especially for developing countries like Pakistan.A comprehensive survey was carried out to analyze the current functional status of business incubators, along with the services provided by those incubators, with their success & shortcoming links with incubation system in Pakistan.The importance of business incubators for the promotion of entrepreneurship, development and technological innovation, addressed with an assessment of the needs of Pakistan economy.This is followed with an evaluation of the requirements to be dealt before incubators can leave the desired effects on the improvements of the entrepreneurship and technological innovation.Finally, the findings reveal implications for the future development programme of business incubators in Pakistan with the policy recommendation.

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