The search for models regarding the business incubation process is on a multifaceted
road. Existing literature is crowded with a wide range of proposals emphasizing different
foci: some of them focus on results,some address the importance of internal processes,
some present a holistic perspective of incubation by dealing with both environmental
forces and internal aspects, some use virtual approaches and some follow a more
contingent approach in order to address specific issues such as those presented in rural,
less endowed regions.
Considering that incubation models will definitively influence the life of both incubators
and incubates, it is important to envision the incubation environment. With progressively
complex structures, these environments require an effective and efficient management that
is ready to answer to vivid entrepreneurs, which demand qualified and committed teams
tuned to the objectives defined by the incubator.
Departing from the premise that the"success"(successful management) of a business
incubator is the consequence of the "success" of its incubated companies, the management
business model of the incubator directly contributes to this "success". In this sense, the
incubator macro business process (selection-incubation-graduation) must be organized
and modeled to select good business plans, assess and evaluate the new business
undertakings and graduate successful firms (Bergek&Norrman,2008;Hannon,2003).
The main objective of this chapter is to present a review of the literature regarding
incubation services and models.Furthermore, it will extend incubation models in order to
include the incubation of business ideas, specifically targeting less-favored regions.
This chapter is divided in six sections. The introduction covers the first section whereas the
second section presents a revision of the literature regarding incubation and incubators.
Section three covers the incubation process. Section four addresses business incubation
models, in which the most important models are presented and analyzed. Section five
introduces a new concept on virtual incubators. Section six introduces the concept of
incubation of business ideas, which is developed from the specific needs of rural, less-
favored regions. Final conclusions are drawn in section seven.