What is Incubation?

Business Incubators:  are programs designed to accelerate the successful development of entrepreneurial companies through an array of business support resources and services, developed and orchestrated by IDC management and offered both in the IDC and through its network of contacts. IDCs vary in the way they deliver their services, in their organizational structure, and in the types of clients they serve. Successful completion of a business incubation program increases the likelihood that a start-up company will stay in business for the long term: Historically, 87% of IDC graduates stay in business.

From Wikipedia, the free encyclopaedia

IDC  Incubation

Enterprise incubation supports small businesses that have clearly identified of creating a sustainable business based on the successful development of an idea which yields a service or product that meets an identified market need.

Establishing a business is a difficult task and incubators provide the right support mechanisms to ensure that entrepreneurs maximize their chances of success.

Most incubators around the world claim a successful graduation rate of around 80% for clients who are mentored in such an environment. Most clients will spend up to 3 years in an incubator before graduating. At this point entrepreneurs will have learned how to overcome many of the challenges they face as they work to bring their product to market.

Successful incubators also serve another important function; they help create new diverse knowledge based industries in areas that once saw little diversification. They train individuals in the basics of building a business, raising funds and getting to market. They also contribute substantially to enhancing the workforce in local economies and often lead to considerable wealth being created in a particular economic zone. With the support of the Royal Commission, IDC seeks to meet these goals and add wealth and value to the region.