What are business incubators?
Business incubators are participatory programs designed to help new entrepreneurial projects succeed. It helps the entrepreneur provide training, guidance, and solve problems related to his emerging project, and also provides him with access to financing by connecting him with investors. Incubators also provide shared work spaces that facilitate the entrepreneur’s work and enable him to interact with other entrepreneurs by creating a small entrepreneurial environment for exchanging experiences. Thus, the first goal of incubators is to make the emerging project successful and develop.
The National Agricultural Research Center (NARC) launched the Agricultural Innovation & Entrepreneurship Incubator Initiative on 26/02/2019, which is the result of the NARC main role in the spread of agricultural science and knowledge, which aims at transforming entrepreneurial ideas into real projects that promote the national economy and contribute to sustainable development and create job opportunities and outstanding success stories. The new initiative (Agricultural Innovation & Entrepreneurship Incubator) came in line with the implementation of the aspirations and visions of His Majesty King Abdullah II bin Al Hussein, which were contained in many of his lofty speeches, royal letters and discussion papers on innovation, creativity and excellence.
Objectives of the Agricultural Innovation & Entrepreneurship Incubator
The incubator seeks to achieve its mission of qualifying entrepreneurs and innovators and mature their ideas, care and qualify them to be competitive in the market, so that they can transform from the category of job seekers to the category of SME owners, with an emphasis on the values of participation, transparency and social responsibility, in a way that contributes to achieving NARC's vision, mission, values and objectives, by achieving the following objectives:
Assisting in the establishment of productive or service projects that work to provide their services to the community and work to create the appropriate climate and provide all the capabilities that we work to facilitate the establishment of projects.
Connecting new projects to the market by forming a common link between these projects and existing projects, in addition to their capabilities in linking incubated projects within the incubator with each other to benefit from their experiences and weaknesses and how to overcome them.
Encouraging the establishment of economically feasible investments that help the economic situation of the country to grow and develop.
Helping small projects and innovative ideas to overcome the administrative, financial and technical problems and obstacles that they may be exposed to, especially at the establishment stage.
Contributing to increasing the income rates of individuals and the number of projects in the community, which helps them to develop the local economy
Supporting entrepreneurs and increasing their chances of success by supporting entrepreneurs who have ambitious ideas in addition to sound economic study and some of the resources necessary to achieve their ambitions
Providing a suitable working environment during the critical first years of the project to increase the chance of its success by completing the technical and administrative aspects at a symbolic cost and focusing the owner of the idea on the essence of the idea.
Promoting the entrepreneurship and innovation and supporting small enterprises in the face of the steps towards the labor market.
290
Number of projects applied for the incubator
41
Number of current projects participating in the incubator
15
Number of previous projects