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Exploring the role of business incubation centers to boost up business culture for socio-economic development

Author: 
Mehtab Ahmed, Zain ul Abdin, Siraj ul Haque, Aijaz ul haq and Muhammad Ashraf
Subject Area: 
Social Sciences and Humanities
Abstract: 

The purpose of this study is to explore the role of Technology Business Incubation centers for the development of socio-economic and establishing of SMEs, because this area is gaining recognition day by day. Plus, the aim is to use the role of Business Incubations for future research. This study is based on the application of Business Incubation centers on the establishment of Small and Medium Enterprises and economic development of any country. A comprehensive literature review and conducted case studies to discover the impact of Technology Business Incubation centers and to apply it for establishing SMEs and developing economy. The Result of the study showed that the main purpose of Business Incubation is to accelerate the growth and success of small and medium Enterprises (SMEs) by providing them physical space, mentoring and expertise to convert the ideas into Business and alter the innovation into Product. It founds that Incubation process is very crucial way to support SMEs resulting socio-economic development.

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