Business Incubation Services Offered to Startup Businesses in Kenya. A Case Study of Ihub Program

Abstract

Business incubation programs came about in order to boost and the successful development of entrepreneurial business. This was to be done through business support with the use of necessary resources. The iHub majorly deals with bringing together new and inexperienced entrepreneurs, software programmers as well as researchers especially those in the technology field. It is also a place where investors meet with entrepreneurs in their workspace better known as a community. The study’s main objective is to determine how the iHub supports startup businesses through its incubation program. The study was hinged on three theories namely; diffusion of innovation theory, resource-based view theory and Joseph Schumpeter’s innovation theory of entrepreneurship. A cases study of iHub was adopted; the study utilized primary data from the staff members of iHub by interviewing the respondents. Results were presented by paraphrasing and summarizing in order to derive meaning to the data collected. The research concludes that iHub platform greatly supports startup business by providing a free working space which was unique to an incubator and very particular in linking startup with investors as it helps startups come up with outstanding presentations for angel investors and venture capitalist. It also helps startups businesses come up with presentations that will entice venture capitalists and angel investors. From the findings, iHub should continue to make a follow ups with the businesses that have left the platform. Also the concentration of the incubatees is in the startup businesses; iHub should consider incubating businesses at the growth stage as well as set up a fund in the promising startup businesses