Approach to Virtual Business Incubation

Approach to Virtual Business Incubation

Virtual incubators are the latest generation in the development of business incubators around the world. They engage the company, customers, suppliers, and operational management of the incubator through modern information and communication technologies (ICT), focusing their attention on the connection of a wide number of local beginner entrepreneurs with experts on entrepreneurial training (consultants, mentors, coaches and trainers thematic entrepreneurial training program) and institutions for business support. In contrast to conventional incubators, virtual incubators can exist and work across geographical boundaries, and can provide support to businesses regardless of their geographical location. Incubators may be linked in a network with other incubators in the community, and thus achieve easier information sharing and coordination. At the same time they broaden the network of contacts and resources for young entrepreneurs. They aim to support the development of young enterprises with growth potential. Virtual business incubators are classified according to the type of services they provide. Those can be identified as: • Incubators offering mainly business development services: ―hand-holders‖ • Networking-focused business incubators: ―network boosters • Finance-focused business incubators: ―seed capital providers (1) The advantages that virtual incubation can provide are case sensitive, and are thus relative to each country’s ecosystem and business enabling environment criteria. These include institutional policy, finance, skills and access to business development services. Another determining factor is the virtual infrastructure of the country, ICT and telecommunication. This article will shed light on the Iranian ecosystem factors that can form a symbiotic relation with the virtual model of business incubation, focusing on the following criteria: • Innovative services of virtual incubation • Supporting actors of virtual incubation • Broadband network • Infrastructure of virtual incubation The aim is to support the development of young enterprises with growth potential in order to venture and work across geographical boundaries.