It seems likely that the amount of venture capital available to fund new entrepreneurs is increasing even more rapidly than just a couple of years ago. A second element in the entrepreneurial infrastructure in the U.S. is that we have developed institutions for technical and managerial support of new ventures. For example, two types of institutions that have provided this kind of support are small business development centers and business incubators. These centers give technical, managerial, and financial advice to small business owners, and they draw on the expertise of various members of the university. From the original 10 small business development centers in 1980, their number has grown to more than 900.
Business incubators offer some of the same resources as small business development centers.
In addition, start-up companies housed in a business incubator share services such as secretarial help, copy centers, and conference facilities. These incubators are most often sponsored by state and local government and nonprofit organizations. The University City Science Center in Philadelphia, founded in the 1960s, was one of the earliest business incubators. It is owned by a group of 31 academic and scientific institutions. The center has launched more than 215 successful start-up organizations.