The Role of Business Incubators as Extra-curricular Entrepreneurship Activity in Universities

Abstract

With practical entrepreneurship capabilities becoming ever more important for all university graduates, whether they are starting their own business or adding value to an organisation by innovating, improving, and problem-solving, what role do business incubators (BIs) play in helping to develop these capabilities for students? This chapter aims to better understand the role of BIs as extra-curricular entrepreneurship activity in universities through a narrative account of business incubation practice in three institutions – two in England and one in Australia. Utilising a practice-led methodology, the study is underpinned by social capital theory and a critical realist ontological perspective on incubation’s mechanisms, processes, and structures. Across these examples, there are common underpinning principles of entrepreneurial learning and socio-economic development. However, there are differences in implementation regarding space for incubation. Where the BI is on campus and closely integrated with extra-curricular entrepreneurship activity, this results in a cohesive graduate startup community and ongoing peer support. With no BI present, the opposite is observed. The chapter argues that without the infrastructure to build and maintain a community of nascent entrepreneurs to benefit from sustained peer learning, there can be negative impacts on the entrepreneurs and a visible gap affecting the entrepreneurial ecosystem. The chapter concludes with a practice note providing practical considerations for university BIs in communicating the significance of the incubator peer group to prospective entrepreneurs to improve realistic expectations and potentially improve their reach to entrepreneurs who may be experiencing isolation during their startup journey.

Citation

Browne, E. (2024), "The Role of Business Incubators as Extra-curricular Entrepreneurship Activity in Universities", Preedy, S. and Beaumont, E. (Ed.) Extracurricular Enterprise and Entrepreneurship Activity: A Global and Holistic Perspective (Contemporary Issues in Entrepreneurship Research, Vol. 19), Emerald Publishing Limited, Leeds, pp. 31-43. https://doi.org/10.1108/S2040-724620240000019003