Business incubators are programs designed to accelerate the successful development of entrepreneurial companies through an array of business support resources and services developed and orchestrated by incubator management and offered both in the incubator and through its network of contacts.

The main goal of a business incubator is to encourage the development of new business within the local community.

The business incubator helps to fill a void that is found in many areas. Not everyone is able to spend the time or money necessary to attend college and obtain a business administration degree. Further, not everyone has access to resources that can fund a new business effort until it becomes profitable. Incubator programs help to fill the gap by providing rudimentary training to entrepreneurs, a space to launch the business, and in some cases connect the new business owner with others who are in a position to invest in the future of the company.

Incubators vary in the way they deliver their services, in their organizational structure, and in the types of clients they serve. Successful completion of a business incubation program increases the likelihood that a start-up company will stay in business for the long term: Historically, 87% of incubator graduates stay in business.

According to the main goal of the project is to raise public awareness about the role of business incubators in providing new opportunities for employment among youth and development of small and medium sized businesses and entrepreneurship in the region, these are the expected results:

• Generated reports will reveal information about activities, roles and successes of innovation centers to local and central government, potential donors and investors, business community and prospect client companies of these centers
• Generated reports will create rankings about the success of the innovative centers in SEE
• Reports will be used as a benchmark in the SEE region that will guide the performances of innovation centers
• Creation of business networking portal for sharing best practices, experiences and knowledge regarding innovation and entrepreneurship in SEE
• Local communities and Governments will have information about the economic impact and role of the innovation centers in the local economy that could be used as a starting point for creating long term strategy for economic development.
• Promotion, possibilities for cooperation, matchmaking and networking among the client companies from the SEE innovative centers

Foundation Open Society Institute – Macedonia (www.soros.mk) and Open Society Fund – Bosnia and Herzegovina (www.soros.org.ba) financed the project through the Network program East – East: Partnership Beyond Borders.

The project is implemented as a partnership between BIT Technology Park (www.bit.ba) and YES Incubator (www.yesincubator.org.mk).

Each Partner has defined staff that jointly works in all phases of the project. Also, other incubator managers from the region, business community and academic institutions participate and share their knowledge and experience in order to achieve the main goal of the project.

The project encompasses a workshop, provides means for networking, be base for knowledge exchange between decision makers and experts and one joint conference will be organized to present comparative analysis findings, as well as used for lobbing to support the concept and creating more affordable business environment accordingly.

Project is impmelenting in: Bosnia And Herezgovina, Republic of Macedonia, Croatia, Slovenia, Serbia, Montenegro and Kosovo