A test of business growth through analysis of a technology incubator program

摘要

Technology-based economic development programs have been implemented, in various forms, by each state in the U.S. as of 1995. Technology business incubators, as a type of technology-based economic development program, have been implemented in a majority of the states, funded in whole or part by public agencies. This research investigated aspects of technology business incubators using case study, non-parametric statistical, and cost-benefit analysis research methods. The purpose of the research included: (1) establishment of a profile of technology business incubators in the United States, including the frequency and nature of technology transfer, particularly of university research to private firms; (2) the impact of a technology business incubator sponsored by the State of Georgia, the Advanced Technology Development Center (ATDC), on participating firms; and (3) the performance of the ATDC as a technology-based economic development program from a public policy planning perspective. Findings of the research included: current theory is insufficient in explaining the phenomenon of technology business incubators although innovation theory holds the most promise; there has been a low incidence of technology transfer in technology incubators due to a variety of factors including institutional barriers; and the impact of the ATDC on participating firms was not as expected, finding that fifteen percent of ATDC firms were highly impacted and could be justifiably used as the basis of calculating impacts and effects. As a technology-based economic development approach, technology business incubators hold potential to generate net social benefits, if resources are focused on facilitating technology development and technology transfer, and tenants are selected in a strategic manner as defined in this research.