BUSINESS INCUBATOR SERVICES IN AFRICA HIGHER EDUCATION: DISRUPTIVE FORCE OR NECESSARY TOOL FOR NEW VENTURE CREATION IN KENYA
Abstract
Business incubators are essential for starting and expanding new companies and reducing the failure rate of startups. The most valuable incubators are those that can respond and adjust to the demands of new businesses by offering a variety of services that assist start-ups. Despite the growing number of business incubation facilities, little is known about the services provided by business incubators and the new venture creation. This study examined how ICT infrastructure, network services, financial resources and training affected the establishment of new ventures in Kenyan universities. The study's theoretical basis was the Resource-based View, Economic Theory and Schumpeter's Theory. Both descriptive and explanatory designs were used in the investigation. The target population consisted of eight business incubators selected from eight universities in the Nairobi region, Kenya. Using a stratified and basic random sampling procedure, 136 participants were selected as a sample size from a target population of 205. The data was gathered through questionnaires. The demographic data was summarized, and hypotheses were tested using multiple linear regression analysis. Tables were used to display the results of the quantitative data. The study found that the establishment of new ventures in Kenyan universities was positively and significantly impacted by network services, ICT infrastructure, training, and access to financial resources. The study recommend that the top executive teams should include business incubator services in the university's strategic goals and provide resources specifically for their growth.
Key Words: Networking, Access to financial resources, Business Incubator Services, Training services, ICT Infrastructure, New venture creation
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