The Incubatees' Perspective on Identifying Priority Enabling Factors for Technology Business Incubators

Previous studies have identified enabling factors needed to support technology business incubatees which are usually small and medium enterprises. However, these studies were unable to draw conclusions about which enabling factor has the most impact and thus should receive the most attention. In the perspective of a developing country such as the Philippines where economic development is important, enabling factor identification is a crucial task as it provides inputs to decision-makers, policy-makers, and engineering managers in framing guidelines and directions for important activities such as resource allocation, strategic planning, prioritization of initiatives, and policy formulation. A case study was carried out at the University of the Philippines Technology Business Incubator (TBI), one of the established TBIs in the Philippines. Prioritization was performed using the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS). Findings suggest that on-site business expertise, the suggested ideas on situational experiences (technology/ideas), and the confidential techniques or information that would assist the incubatees (know-how) are the most relevant enabling factors for incubatees' success. In contrast, in-kind financial support, concise program milestones with clear policies and procedures, and expert organization emerge as the least important factors. Engineering managers are crucial in addressing these top enabling factors. These would help incubators and engineering managers formulate policies to improve their operations such as attracting and retaining the best management academics and practitioners to support their incubatees. Engineering managers can support incubatees in optimization studies and engineering experiments for the efficient and effective adoption of the incubatees' technologies. Policy-makers must also consider incentivizing private institutions and successful entrepreneurs to be involved in the incubation programs.