Technology business incubators as engines of growth: towards a distinction between technology incubators and non-technology incubators

Business incubators are an increasingly popular tool for promoting job and wealth creation. Yet given the heterogeneity of incubation models, it is not always clear how incubators operate, what their main characteristics are and how can they best contribute to job and wealth creation. If technology is central in promoting economic growth and new firm creation the crucial mechanism in transferring new knowledge to markets, then technology incubators have the biggest potential to contribute to economic growth. We define technology incubators by their strategic choices in terms of mission, linkages to universities and geographical location. We investigate their nature by comparing the levels of business services provision, selection criteria, exit policy and tenants’ characteristics. Our sample includes 12 incubators located in six Northwestern European countries and a total of 101 incubated companies. Data were collected in both incubators and among their tenants. Results show that technology incubators provide more tenants with their services, select younger companies and practice stricter exit policies. Additionally, they tend to attract more experienced teams of entrepreneurs. Our main contribution is a better understanding of the technology incubators impact against the remainder population of business incubators. We speculate that incubators not focussed in incubating technology might not be contributing to company creation at all. Further, the low levels of service provision are both a product and a consequence of slack selection criteria and weak exit policies. Finally, we discuss the implications of our findings to business incubator managers, policy makers and prospective tenants

Are Business Incubators helping? The role of BIs in facilitating tenants’ development

Business incubators (BI) are among a variety of initiatives to stimulate economic growth by promoting the creation and development of new companies. The rapid growth of BIs in recent years confirms their importance in the economic fabric. In this study, we conceptualize BIs using insights from knowledge based theory of the firm, resource-based view thinking and capabilities literature. BIs will be seen as service providers geared towards helping their tenants in solving developmental problems. The more problems the BI helps to solve the bigger the incubation value for tenants; further, as tenant firms solve problems they develop important capabilities which will yield increase their chances of survival once they graduate. Results show that tenants unequivocally seek support after experiencing problems. Solving those problems is a function of BI support and other external sources part of each tenant firm’s network of contacts. Age and human capital of tenant firms have a negative impact in the total number of the problems solved, suggesting BIs’ deficiencies in helping more experienced and older tenants. Our main contribution is to shed light on the processes of delivering support to young firms within BIs. Importantly, we assess the value of the BIs’ intervention by measuring the amount of developmental problems they help tenants to overcome. Finally, we discuss the implication of our finding to BI managers, prospective tenants and policy makers

Market Structure and Energy Efficiency: The Case of New Commercial Buildings

This is a report on why commercial office buildings aren’t more energy efficient. Several decades of energy efficiency programs have resulted in some gains, but overall increases in the energy efficiency of buildings have fallen far short of the 30 to 50 percent improvement that many efficiency advocates believe is possible. The purpose of this study is to consider the “why” question by empirically examining the dynamics of new commercial building markets. To do so, the authors used multiple research techniques, including qualitative field observation and interview methods that allow for a more in-depth understanding of complicated market processes. Their research focused primarily on new office buildings and centered in four regional markets: Sacramento, San Francisco, Seattle, and Portland. The authors identify key dynamics of commercial office building markets, describe how change and innovation occurs in commercial development, discuss the implications for energy efficiency, and suggest next steps

Are they really helping? : an assessment of evolving business incubators'value proposition

Most studies about business incubation describe an array of available services but often fail to present the tenants’ assessment quality. We set out to investigate if business incubators differ in terms of their value proposition. To do so, we identify three distinct generations of business incubators based on different dimensions included in their value proposition. We pose the question of whether the generation affects the extent to which tenant companies use the different dimensions of the incubator’s value proposition. Using data collected within business incubators and their respective tenants, the results show that while incubators claim to have similar support structures regardless of their generation, tenants in the older generations make less use of the incubator’s service portfolio. We discuss the implications of our findings for incubator managers, prospective tenants and policy makers

Segregation, Choice Based Letting and Social Housing: How Housing Policy Can Affect the Segregation Process

In this chapter we investigate the process of ethnic minority segregation in English social housing. Successive governments have expressed a commitment to the contradictory aims of providing greater choice – through the introduction of choice based letting – for households accessing an increasingly marginalised social housing sector whilst also expressing a determination to create more mixed communities and neighbourhoods. We consider the concept of choice in the context of a heavily residualised social housing sector, arguing that, for social housing tenants at least, the concept of real choice is a misnomer. We draw on research that has utilised unique administrative data and analysed the moves of all entrants into and movers within the social renting sector over a ten year period in England. The conclusion is that the introduction of choice based letting has influenced the residential outcomes of ethnic minorities and resulted in highly structured neighbourhood sorting that has segregated minority populations into the least desirable neighbourhoods of English cities.segregation, choice based letting, social housing, housing policy, UK

Energy Transparency in the Multifamily Housing Sector

Mirroring recent trends in other real estate sectors, the multifamily housing sector is subject to an increasing number of rules and regulations related to energy-performance benchmarking and performance disclosure. State and local governments are moving rapidly to institutionalize benchmarking and make energy performance information available in the real estate marketplace, while major lending institutions are taking initial steps to factor building energy performance into financial products. The goal of these new rules is to enable transparent building energy-performance information to drive energy efficiency improvements in multifamily housing that lower energy bills for residents; contribute to greater local housing affordability; and new jobs and services related to energy efficiency. Many multifamily owners and operators have never benchmarked the energy performance of their buildings, while other parties -- including state, local, and federal policymakers, tenants, utilities, and lenders -- have little or no access to building energy-performance information that can help shape real estate decisions or inform the development of policies, incentives, and financial vehicles to advance energy efficiency. This critical shortage of information about building energy performance has prevented property markets from valuing energy efficiency and severely undermined both public and private efforts to increase the energy efficiency of multifamily housing.While energy benchmarking and disclosure policies are an innovative approach to overcome energy-performance information gaps in the multifamily sector, several challenges must be addressed. The multifamily sector is fragmented and resists a one-size-fits-all approach, ranging from low-income public housing to luxury properties, all with varied sources of public and private financing. Policies must reflect and accommodate the diversity of both the building stock and its stakeholders. In many cases, underlying barriers continue to limit the ability of many multifamily owners to conduct benchmarking and other energy-performance assessment measures. This report is intended to serve as a guide for policymakers and multifamily stakeholders on benchmarking and disclosure rules and regulations. It provides an introduction to the multifamily housing sector, followed by a thorough review of existing benchmarking and disclosure policies and an assessment of continuing policy challenges and opportunities

Seven Strategies for Successfully Marketing and Stabilizing the Occupancy of Mixed-Income/Mixed-Race Properties - Summary Report

Mixed-Income rental properties that include extremely low-income households (below 30 percent of AMI) are a valuable strategy for community health. They simultaneously address two critical challenges: housing for those most in need and desegregating poverty. Understanding how to operate mixed-income apartments profitably is important to increase the development and underwriting of these properties.With the generous support of the Ford Foundation, NeighborWorks America undertook this study of management and marketing practices of successful mixed-income properties that have served extremely low-income families while maintaining positive cash flow for at least five years.This report describes seven strategies used by these properties to stabilize and maintain high occupancy rates with healthy operating budgets. For each strategy, we provide concrete implementation examples