Supporting Parties for Innovative Entrepreneurs
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NEW Typically innovative entrepreneurs will establish a venture. Most often their main target is to create something new or to change something, rather than to achieve wealth or independence, although both of these are likely to be the result of their efforts.
Before and in the early process of establishing their venture, entrepreneurs may make use of several supporting organizations or individuals:
- BUSINESS INCUBATORS: A private firm, university or public organization which provides resources and support for the generation of spin-out firms.
- BUSINESS ANGELS: Experienced, successful entrepreneurs who wish to invest their earnings in and share their know-how and professional network with new promising ventures, usually in return for a management (or advisory) role and obviously a stake in the venture.
- NTBFs (New Technology-Based Firms): Small high-tech firms that have emerged recently from large firms or public laboratories in such fields as electronics, software and biotechnology. NTBFs are usually specialized in the supply of a key component, subsystem, service or technique to larger firms.
Do you know of any additional parties that can be supportive to entrepreneurs early in the life cycle?
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