Learning to incubate: evidence from Greece (1995-2005)

Aim of the present study is to analyze and explain the contribution of business incubators to the promotion of entrepreneurship. Drawing upon previous research findings and three distinct theoretical perspectives, namely the resource-based view, the resource dependence approach and the social capital theory, we propose a theoretical framework allowing for a pattern-benchmark model for successful business incubation. After gathering secondary data on the business incubation industry in Greece, and qualitative data through face-to-face interviews with Greek incubators’ managers, the model is empirically validated in order to sketch the particular incubation landscape and identify best practices. The cases that are examined through a comparative analysis based on our research framework revealed that incubators were developed in two expansion waves, representing different ownership structures and objectives. The findings are further discussed for their theoretical, managerial and policy implications, while some recommendations for the further development of the industry are provided.