Adapting the Technology Incubator Model to Meet Local Development Demands
BY:
Kevin M. Mayer
Announcements about technology incubators seldom grab the biggest headlines. They lack the impact of, say, a new auto assembly plant. Whereas an auto plant typically represents an investment of hundreds of millions of dollars, the launch of a technology incubator, at the high end, might cost 10 million. An auto plant employs hundreds, even thousands; an incubator, perhaps dozens. A new auto plant typically requires a contiguous plot covering 1,000-plus acres; an incubator, office or lab space covering a few tens of thousands of square feet. But while a technology incubator may seem unprepossessing, it has an important role in economic development. more....