Definitions & terms Incubation:
It refers to the growth & development of a business firm or agency in the incubation center.
Incubation center is an instrument for economic development which, in line with development policies, provides supports to the newly established science- based firms and sustain their existence, nurturing them at their initiation phase with a view to establish viable firms that could finally leave incubation center and stay on their own .
It refers to the introduction of a novel idea in the business market in the form of a product, service or an initiative within an organization or a process.
Business plan is a planning document which explains the activities of an agency for a given period of time, defining the relationships of the working elements with suppliers, etc and thus lays the foundation of the agency by delineating the work and producers within the agency and measures its progress and evaluates the changes made. Business plan include the layout of a company, an industry, product, service, or an account of sale market and management team .It also refers to key operational items, financial estimates, and the required budget or aims of expenditure.
Incubating unit: Refers to a business, or firm either staying in the incubation center or that which comes to fruition through the Incubation Center.
The aim of establishing incubators is preparing the ground for attracting and support of entrepreneurs, especially the best university graduates in their specialized fields through helping them to establish firms and services and producing units. These helps can be offered to them by providing them support services and reducing the risk of establishing new companies. However, their major distinctive feature is the type of facilities they provide in one place and, consequently, the more homogeneous activities of the incubator firms.
- Preparing the ground for the development of technology activities
- Encouraging the establishments of high tech companies with necessary services
- Reducing the risk of establishing new companies through assistance in attracting seed capitals and providing the necessary consultations
- Creating job opportunities for university graduates
Defining the structure:
1- Incubation Center of Technological Units
1-1- Pre-incubation period
It is a maximum six months period within which talented people or groups having innovative ideas in areas of industry or service receive the necessary guidance and consultancy concerning marketing, formation of working groups, establishment of ideas, and gaining independent legal entities. This duration is extendable up to 9 months. The units gaining admission in the pre-incubation period are referred to as technological core.
2-2- Incubation period
It refers to a maximum 3 months time during which the technological units deployed in the incubation period obtain maturity standards (i.e. scientific maturity, financial maturity, organizational maturity) and leave the incubation center. The duration of this period is extendable to 5 years under certain circumstances. The units admitted in the development phase are referred to as technological unit.
The requirements for accepting the idea:
· Having science- based idea
· The specialized workforce
· commensurate with applicant's field of activities
· Presentation of a business plan based on a sound recognition of market
2- The structural organization of the STP The small or medium sized firms, technical & engineering service firms, research & development centers, industrial development firms and the developed research institutes leaving the Incubation Centers may remain under the auspices of the STP and enjoy the synergic facilities & supportive regulations there.