Goals and objectives related to incubator operations are generally broad in scope. They serve as a means of centralizing entrepreneurial support activities. The most common goals for incubators include:
- Creating jobs in the community.
- Enhancing the community’s entrepreneurial climate.
- Commercializing intellectual property and new technologies.
- Building or accelerating growth in a local industry.
- Diversifying and strengthening the local economy.
The specific objectives of the incubator are:
- Stimulate research, innovation, and creativity among students, graduates, and staff at PPU.
- Raise awareness about entrepreneurship on the PPU campus and in the wider community.
- Serve as a primary tool for entrepreneurs to roll out programs and achieve their goals.
- Support novice entrepreneurs and students at the earliest stages of entrepreneurship, enabling them to implement their ideas and turn them into commercial products.
- Provide entrepreneurs and students with resources, including physical premises, financial support, tools, professional guidance, and administrative assistance.
- Enable access to funding sources for seed money and venture capital.
- Create promotional and marketing strategies to enhance visibility and outreach.
- Assist in the formation of new businesses, both technology-based and non-technology businesses.
- Create good-paying jobs within the community.
- Position the university and community to take advantage of new business opportunities.
- Increase investment and foster the development of a technology industry.
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