Effectiveness of Taiwan's Government Operated Business Incubation Initiatives

Bygrave, W.D. & Zacharakis, A. (2014). Entrepreneurship, 3rd ed. Hoboken, NJ: John Wiley & Sons, Inc. ISBN: 978-1-118-58289-3

| - Lecture: “Managing Innovation and Fostering Corporate Entrepreneurship” (con’t)- Presentation & Annual Report follow up.

Small businesses are the backbone of national economy and play a leading role in innovations as well as in creating jobs. Small business has the intrinsic needs to growth. Obvious contributions of the growth of small businesses include the increased return on investment and job creation. The interesting and valuable question is how small business grows and are all small businesses growing? It is no surprise that the growth of business is a core topic both in organization theory and entrepreneurship, both are interested in the process and causes of business growth. Stages of growth models, which assume that business go through some distinct stages from birth to maturity, have been the most popular theoretical approach in academic to understand small business growth. Although the stages model of growth has been criticized for being too sequential and linear which is unrealistic and inconsistent with empirical evidence (e.g. Phelps et al., 2007; Levie and Lichtenstein 2010), various new stages models of business growth have been developed since the 1960s.

The ELAC Foundation has utilize the feedback it has obtain from departments and students in establishing an incubator project in joint collaboration with OmniWorks. The project’s objective is to create of a scalable model of a state-of the-art entrepreneurship and innovation center, provide business/financial curriculum, mentorship, and access to capital to create pathways for students and community entrepreneurs to greater success high growth business sectors. The goal of this center is to position ELAC as a leader in entrepreneur and strong workforce initiatives, deepen college ties to businesses and the community, and increase potential for corporate sponsors, and enlist local business leaders to: serve as mentors, participate as guest speakers, create paid internships and help build supply chain diversity.

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This business plan addresses a variety of issues associated with creating and operating a business incubator to foster entrepreneurship in Pine Bluff, Arkansas. It was developed based on the findings and observations of economic development for the Jefferson County conducted by LaRonda Joy Davis.

Business incubators are programs designed to support the successful development of entrepreneur companies in support resources and services that include physical space, capital, coaching, common services, and network connections. The incubator can provide the resort with financial and technical services to build the business. They

Considerable confusion exists between entrepreneurship and intrapreneurship, as well as, innovation, creativity, and invention. First,

Numerous large businesses that are operating today were once started as small businesses. A new business is established to create a good or service that no other businesses have ever created or simply a product of higher quality than existing products, with the purpose of meeting customers’ needs and earning profits. Due to the technological advances at the present time, starting and operating a new business is less laborious. Nevertheless, would-be entrepreneurs should be familiar with the proper approaches to start their businesses.

Entrepreneurship is the activity of creating a new business or enterprise. It is an essential and significant action in the growing job market (Bednarzik, 2000). Entrepreneurship has become important to all the countries whether they developed or developing ones. It is a basis of economic growth and employment creation (Thurik, Carree, Van Stel, Audretsch, 2008). It involves opportunity recognition or creation, collecting resources to track the opportunity, and managing actions that bring a new venture into existence. Some ventures are complete start-ups, while other ventures are pursued within an existing organization (Enz and Harrison, 2010). Entrepreneurs accept the personal financial risks that drive with having their own business. On the other hand, entrepreneurs benefit directly from the

Entrepreneurship and small businesses is the foundation and driving force of America’s success. Apple, Amazon, Google, and Wal-Mart (just to name a few) all started as small businesses. Small businesses make up: 99.7 percent of U.S. employer firms, 64 percent of net new private-sector jobs, 49.2 percent of private-sector employment, 42.9 percent of private-sector payroll, 46 percent of private-sector output, 43 percent of high-tech employment, 8 percent of firms exporting goods, and 33 percent of exporting value. It’s essential that small businesses continue to flourish if we are going succeed as a nation.

A business plan is a written document that acts as a roadmap for a start-up business. It has details on the resources and strategies that the new venture will undertake in the initial years (Chwolka & Raith, 2012). The general belief is that for a company to be successful, it must begin by having a business plan. Published research papers have conflicting results on effects of a business plan for the success of start-up companies. On the one hand, some authors believe that a company that writes a business plan survives the initial five years. On the contrary, other authors believe that there is no link between business success and the original plan. Proponents of the business plan argue that it is a recipe for having a successful business (Chwolka& Raith, 2009). Although the advocacy of the importance of having a plan for the business is rife, critics doubt if it is an activity worth undertaking for creating a success new venture (Bygrave et al., 2007). The researchers who subscribe to this school of thought question the importance of wasting time in planning, yet the business environment is dynamic. This essay analyses the literature on the importance of business plans in the success of start-up ventures.

Entrepreneurial activity and innovation are relevant and key factors to the growth of the economy in Northern Ireland. Developing levels of risk taking, initiative and creativity are important in supporting this economic growth. Many entrepreneurial businesses that have been set up in Northern Ireland have been successful, leading to a growth in the economy. The Barclays Eagle Labs Belfast scheme at Ormeau Baths (Eagle Labs) states that “The Barclays Eagle Lab business incubator” was set up in Northern Ireland in June 2017 to give the start-up and scale-up communities a critical boost. It provides access to resources for expert mentoring, event space and workshops. This helps entrepreneurs to start up their own businesses which helps the

In this chapter literature on women entrepreneurs and social incubators is discussed. It also explains the conceptual framework and conceptual map of the study..

The importance of small and Micro Enterprises (SMEs) in the economy of any country cannot be overlooked. In fact for nearly 15 years, most researchers dealing with economic planning have highlighted the significance of these enterprises stating that they are a key player in realizing any country’s economic goals. As such, governments as well as other organizations with interest in development are laying plans and strategies to promote the establishment of Small and Micro Enterprises. This is seen as a move to ensure that there is full participation of SMEs in the country’s economy. The Small and Micro Enterprises have been known to contribute to a large extend as a source of innovation, entrepreneurial skills as well as source of employment. For example, statistics in 25countries of the European Union show that 99% of the jobs provided to its citizens come from the micro, small and medium-sized enterprises. Rowe (2008) points out that the British economy relies heavily on the participation of SMEs. On the other hand, 99% of the UK’s economy is composed of small and micro enterprises.