Entrepreneurship
Theme: Entrepreneurship
Cross-cutting themes covered: - Business incubation facilities, Knowledge transfer, Enterprise and education
Name of project: Science Incubator of the Czech Technical University
City: Prague
What is it? The Science Incubator, launched in January 2006, provides workspace to nine small companies. The project is mainly targeted at graduates, PhD students and university staff who are setting up their own innovative companies. It also facilitates knowledge transfer activities and promotes innovation and entrepreneurship among university students.
Who is it? The Science Incubator was set up by the Czech Technical University in partnership with a Swedish company, Ikano s.a.
Where is it? The Science Incubator is situated next to the university buildings, in Dejvice, an inner city part of Prague.
Who funds it? The incubator is financed by the Czech Technical University and Ikano s.a. The project is due to become more sustainable over the course of its lifetime, as the rents of resident companies increase. Financial support from the university and Ikano s.a. is set to end in 2008.
How does it work?
Promotion of partnership knowledge transfer between the university and businesses: The Science Incubator acts as an intermediary between the Research & Development and business worlds, providing support to entrepreneurs (often based at the university) in setting up innovative new companies in high-tech sectors.
Provision of accessible and affordable workspace: One of the major barriers to people intending to start up their own business in Prague is high rent prices. To tackle this, the Science Incubator offers affordable rents for the resident businesses. The first six months of accommodation are free, with the rent increasing every six months thereafter – businesses are first expected to pay 25% of the full rent, then 50%, 75% and, finally, 100%. Businesses must leave the premises after three years to make way for other entrepreneurs (this is written into rent contracts).
The Science Incubator comprises nine 14m2 offices, each equipped for two persons. Communal facilities include: two conference rooms, an entrance hall, a kitchen and a storeroom. Entrepreneurs are selected to enter the Science Incubator on the basis of their business plans, while the technological potential of their companies is also considered. Incubator training is delivered mainly via external advisors, who are specialists in areas such as marketing and management. The Science Incubator only has two full time staff.
As well as providing subsidised workspace, the Science Incubator offers free consulting and advisory services for resident businesses, for example weekly training sessions in management and legal skills.
Anything else? Promoting entrepreneurship as a career option among university students: Students of the Czech Technical University are taught about the Science Incubator and its benefits in their classes, in an attempt to increase awareness among university students of entrepreneurship as a career option. In addition, a launch event, attended by the press was held in January 2006 to market the Science Incubator. Marketing materials, such as leaflets, are regularly distributed throughout the university.
What are the results? Examples of companies residing in the Science Incubator include: -
Is the model transferable? The model is broadly transferable – in fact, the Science Incubator replicates experiences from a business incubator in Lund, Sweden.
The fact that the Science Incubator is located near to the university is a competitive advantage, but the opportunity to set up incubation services that are linked to universities may exist in other regions. Locating incubators near universities enables better access of resident businesses to faculty Research & Development ( R&D ) facilities, as well as helping to raise awareness of the incubator among students – resident businesses can act as role models for students, enabling the promotion of an entrepreneurial culture at the university. Building on local competitive advantages? The Science Incubator is supported financially by the Czech Technical University (CTU) and resident businesses have access to its R&D facilities (e.g. laboratories) and specialised workplaces (e.g. the CTU Patent Centre).
What are the barriers to transferability? Finding financial resources could be a barrier to replicating this model elsewhere. Moreover, other incubators may not necessarily have access to university facilities such as the CTU Patent Centre. A lack of skilled staff to deliver the training sessions, and lack of interest in starting up their own businesses among students, could also constitute barriers to transferability.
