Rethinking Technology‐Oriented Business Incubators: Developing a Robust Policy Instrument for Entrepreneurship,Innovation, and Regional Development?

ABSTRACT Today, technology‐oriented business incubators are a worldwide phenomenon, although empirical research evidence clearly suggests that they tend to fail in supporting entrepreneurship, innovation, and regional development and, therefore, do not fulfil their expected role as policy instrument. The paper focuses on this obvious antagonism. It deliberates upon political rationales, reviews evaluation literatures, and delineates suggestions for the future of the incubation industry. The main conclusion is that technology‐oriented business incubators should be run as private organisations without public funding.