Technology Business Incubation Program
What is Technology Business Incubation?
Technology Business Incubation (TBI) is one of the strategies identified by Department of Science and Technology (DOST) to promote innovation and technopreneurship for the country’s socio-economic development in a knowledge-based world economy.
TBI involves an ecosystem where innovation is promoted and supported towards commercialization. It aims to help startup technology-based businesses by providing a range of resources, services and facilities needed during the development stage. The goal of TBI is to produce firms that will leave the incubation program financially viable and able to sustain operation and compete in the market.
What is a Technology Business Incubator?
A Technology Business Incubator (TBI) is a facility where start-ups are hosted and business development services are provided. For would-be technology entrepreneurs and start-ups, DOST-funded TBIs offer office space as well as technical services and facilities to get their business established.
The DOST’s TBI program has three major objectives:
- To create jobs
- To develop entrepreneurs
- To promote public-private partnerships in regional economic development
Common facilities of a TBI:
- Office space
- Internet access
- Business meeting/Conference room
- Training room
- Storage room
Basic services offered by TBIs:
- Technical Assistance
- Intellectual Property Management and Legal Counseling Services
- Analytical Laboratory Services
- Business Development and Marketing Assistance
- Administrative Services
- Janitorial Services
Status and Prospects