Issues and challenges of technology business incubators in the Philippines

Abstract

The creation of various technology centers such as innovation center, incubation center, fabrication laboratory and science technology park is perceived to have a crucial role in the creation of jobs and social and economic empowerment. Nowadays, technology business incubation (TBI) is the current trend in capacitating the small and medium enterprises (SMEs) or even the start-up companies. This study explored the issues and challenges faced by TBIs in the three (3) major island of the Philippines. A qualitative approach was used in collecting the data through personal interviews to the TBI managers in order to gain in-depth knowledge and understanding to the issues and challenges they are facing. Content analysis was done to identify the relevant information. A total of eight (8) TBIs was selected randomly. The results showed that lack of funding, very slow procurement process, plantilla designation for faculty involve and no clear IP policy were among the issues and challenges that are hindering the development of an effective TBI in the Philippines.