The City of Toronto has been funding and operating business incubation programs for almost a quarter century. In that time the rest of the world caught onto the economic importance of nurturing home grown entrepreneurial talents and innovative ideas. There are now more than 4,000 business incubators worldwide, and it’s estimated that they are proliferating at a rate of 16% annually. Against this backdrop of this trend, the City’s programs are in need of review and possibly a redesign. Starting with a review of its current state and interviews with its major stakeholders, NetGain is analyzing the gap between future program objectives and the availability of resources foreseeably available for expansion. It is hoped that the resulting report will help the program’s managers to build more co-operative relationships with program providers in other sectors, as well as support relationships with other City divisions and agencies that might contribute to this time-tested economic development practice.
www.toronto.ca/business_resources/business_incubation.htm