The convergence of globalization, technological innovations and knowledge-based economies, and demographic trends has led to an increased focus on the effects and importance of entrepreneurship. In this context, entrepreneurship is a driving force of economic development, structural change and job creation. It is also a way to address the challenge of poverty reduction.
It is generally acknowledged that new venture creation may be an important strategy for achieving national economic growth. Entrepreneurship, which involves the creation or start-up of new ventures, is considered to be an important mechanism of economic development and for developing competitive economies.
The introduction is about the relation between Entrepreneurship and Economic Growth/development, especially in developing countries.
Literature Review: (6 pages)
The explosive growth of incubation has been a concurrent and significant increase in research on and knowledge of the incubation phenomenon. According to National Business Incubation Association (NBIA), a business incubator provides business support to young companies with the goal of producing "successful firms that will leave the [incubation] program financially viable and freestanding" (www.nbia.org).
The role of business incubators is to provide a support environment for startup and fledging companies, thereby promoting local job creation, economic development, and technology transfer. The main objective of business incubators is to nurture entrepreneurial start-ups that will grow rapidly, create wealth and employment and contribute to local and regional economic development.
The role of the incubator in the entrepreneurial process has changed from being just a business center with office facilities to one offering training, networking and consulting in all areas of expertise to startup firms.
By providing a variety of services and support to start-ups, the incubator seeks to effectively link talent, technology, capital and know-how to accelerate the commercialization of technology.
This section should cover the most recent articles published in outstanding journals about the important role that business incubators play in economic growth/development of a nation, technology transfer, commercialization of technology, creation of high-value-added jobs, and achieving leadership in global markets. The literature review should also focus on the role of business incubators in developing countries.
Business Incubators in Saudi Arabia: (6 pages)
This section discusses the following points:
1. Types and objectives of business incubators in Saudi Arabia.
2. Characteristics of these business incubators.
3. Saudi’s government policies and initiatives to develop business incubators.
4. The contribution of these business incubators to the economic growth/development in Saudi Arabia.
Conclusion and Policy Implications: (1 page)
This section concludes the essay, presents the most important findings, and proposes some policy implications to develop the role that business incubators play in developing countries, especially in Saudi Arabia.
References:
The essay must depend basically on the most recent papers published in outstanding academic journals. All journal articles, studies, and books mentioned must be included in "references" section. References should be arranged alphabetically and follow American Psychological Association (APA) style. References in the text should include name and year.