Most importantly, an incubator should adhere to core principles. First, it should focus on wealth generation. When incubators first hatched on the scene, government and nonprofit organizations often focused on helping companies create jobs or revitalize neglected neighborhoods. Incubators that foster strong companies will eventually stimulate job creation and economic development. Second, an incubator should support the entrepreneurial spirit.
Successful incubators inspire.
Third, an incubator must add value. Space simply is not enough. Finally, an incubator must run its business like a business. Incubation is not charity. If the incubator is not efficient and fails to take a bottom-line approach to its operations, it certainly can't relate to occupants.