Why Universities Create and Foster Business Incubators?
Ejiro U. Osiobe1', Kramer Winingham

Although other countries have encouraged business incubation programs and business accelerators to foster economic growth, development, and stability in their nations', the United States (US) has led the world in this effort. In the US, there are over 900 business incubators, and the first was established in 1959 in Batavia, New York. This paper analyzes why student entrepreneurs start businesses. It also aims to understand the role and impact of university business incubators in assisting entrepreneurs and supporting regional economic growth, development, and stability while outlining the business framework(s) that tracks how these incubators help develop entrepreneurs and create jobs. This study draws from Grimaldi & Grandi incubating models, Merrifield's decision tree, capitalist ideology, division of labor and specialization ideology, neo-classical growth theory ideology, Marxist economic perspectives as a monitor of capitalism overreach, and from the Arrowhead Center—Studio G client logic model. The study uses a qualitative analytical approach to understand why student entrepreneurs in the Arrowhead Center—Studio G incubation program start their business and the impact of Arrowhead Center—Studio G in supporting them.

Full Text: PDF     DOI: 10.15640/jsbed.v8n1a1