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Egypt Today: Business Incubators... Tasks to do, targets to achieve

A business incubator is a facility which provides new and startup projects and companies with affordable space, training and financing.
27.03.18 | Interesting article at Egypt Today

The Egyptian government intends to issue business incubators through Rowad 2030 project, which is affiliated to the Ministry of Planning.

Egypt Today reviews what business incubators are and their importance, in addition to their tasks.

What are business incubators?

A business incubator is a facility which provides new and startup projects and companies with several services such as affordable space, trainings and even financing.

What are the tasks of business incubators?

1. Providing investment services related to feasibility study of projects.

2. Offering financial, administrative, marketing and advice support to new and startup companies.

3. Provision of technical, financial and logistic support to small enterprises.

4. Administrative and technical trainings are also included in the tasks of business incubators by the incubator or private associations.

The importance of business incubators

1. Assisting in establishing productive or service projects that provide services that work on easing all possibilities to establish these projects.

2. Linking new projects to the market through connecting them with existing projects.

3. Connecting all incubated projects together to benefit from their strength and weakness points, and how to overcome these weakness points, in addition to achieving social goals such as developing human resources and finding solutions for unemployment.

4. Encouraging economic feasible investments which help in growing and developing the state’s economic situation.