Business Incubator

A business incubator is a company that helps new and startup companies to develop by providing
services such as management training or office space.[1] The National Business Incubation Association
(NBIA) defines business incubators as a catalyst tool for either regional or national economic
development. NBIA categorizes their members' incubators by the following five incubator types:
academic institutions; non-profit development corporations; for-profit property development ventures;
venture capital firms, and combination of the above.[2]

Business incubators differ from research and technology parks in their dedication to startup and early-
stage companies. Research and technology parks, on the other hand, tend to be large-scale projects that
house everything from corporate, government or university labs to very small companies. Most research
and technology parks do not offer business assistance services, which are the hallmark of a business
incubation program. However, many research and technology parks house incubation programs.[3]

Objectives
1.Technology transfer and Innovation

2. Creation and development of sustainable, globally competitive SMEs that contribute towards the
accelerated growth of the South Africa economy

3. Supporting selected groups (i.e. women entrepreneurship)

4. Student development

5. Regional development

6. High growth

7. Commercialization of knowledge

8. Sector development

9. Supporting social entrepreneurship

10. Corporate matchmaking

Vision
To Create World Class, Self-Sustaining Business Incubation Facility & Innovation Ecosystem that will
Nurture Knowledge based, Technologically Differentiated, Socially Relevant Ventures Creating Economic
Impact on People in the Region, State & Nation at Large.

Mission
 Cultivate Fear Free, Open, Collaborative Culture of Innovation within University Ecosystem.

 Develop Fair, Equality and Performance based work culture driven by policy framework.

 Shape bright minds for excellence in Science, Technology, Fine Arts and
interdisciplinary   Commercializable New Knowledge creation.

 Encourage Risk Taking with alternative Risk Mitigation Plans.

 Equity Partnerships with Incubatees to create mutual win -win situations.

 Collaborate with world class technical and commercialization experts and bring them on
Platform through, awareness, trainings, coaching and mentoring programs.

 Forging strong active partnerships with local Industry partners.

 Provide best in class Infrastructure, Advisory & Investment Support.