Business Incubators – Killing natural selection in industry.
Yes. I am a believer in natural selection. Some businesses should fail. I repeat… SOME
If we continually come up with ways to nurture and support weak ideas, we will prevent innovation from shaping the future of technology. Business Incubators are one example of what I am talking about. A business incubator is designed to allow entrepreneurs to be protected during the fragile stages of the creation and development of their start up.
Business incubators are actually a good thing in that they expose the entrepreneur to resources that otherwise could not be had. They offer access to expertise on an as need basis for problem solving, idea generation, and rounding out of gaps in the entrepreneurs own ability in a way that doesn’t drain valuable investment capital from the startup. They offer savings in office space, capital investments, and shared facility and equipment use. They provide an almost think tank like environment that nurtures the development of ideas and innovation. All of this is good. To an extent.
There is something to be said for having to survive in a dog eat dog world. Competition strengthens those who succeed and survive through the turmoil. To the victor go the spoils.
This type of experience is invaluable to a budding entrepreneur. An entrepreneur who is able to develope a business in light of adversity becomes tempered from his or her experirences. They are much better prepared to handle adverse situations as they arise. They are able to persevere in teh face of hardship.
As much as a business incubator offers to teh entrepreneur, it is also riddled with problems in that the individual never gains that level of experience and temperment, thus when they are thrust into the harsh world of competition, they are ill equiped to deal with that adversity.
So if you are an entrepreneur that is starting a new venture, be careful how you leverage an incubator. Being honest with yourself and your abilities is critical. If you become complacent due to the comfort on knowing you have the incubator to rely on, what then happens when you do not have that security in the future? Are you prepared to handle it?
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