Promoting business and technology incubation for improved competitiveness of small and medium-sized industries through application of modern and efficient technologies.

It was emphasized that the main goal of incubation system is to promote continuous regional and national industrial and economic growth through increasing of employment and general business development and to stimulate specific economic objectives such as industrial restructuring as well as wealth generation and utilization of national resources. Technology business incubation system cannot replace the usual entrepreneurial initiative and markets, but technology business incubation system can create better conditions for the emergence of new entrepreneurship especially the technology-based enterprises. Establishment of technology business incubators enhances the business image as an innovation hub, demonstrates commitment of the incubator founders to encourage and move into businesses through techno-entrepreneurship, and thus creates investors’ trust and promotes value-added technology-oriented investments in the countries.

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