Abstract

Innovation, entrepreneurship, and technology commercialization (IET) are critical elements in the diversification of economy
worldwide. Researchers and practitioners alike claim positive effects of IET on the economic development. However, the successful
implementation in developing countries , such as The Gulf Cooperation Council (GCC) needs further investigation for successful
implementation for growth and development. The purpose of the study is, therefore, to identify the similarities and differences based
on the three categories of IET such as economy, policy, and industry with a focus on the GCC states, as well as developing countries.
The paper Methodology based on a wide literature review, and a multi-case study. The authors’ professional experience on the topic
provides the foundation for this paper. The findings of this research can help practitioners, such as governments and policy maker
to implements successfully and extend the climate of smart growth. The results highlight the implications of the study successfully
from different levels such as economic, social, political, organizational, and institutional. This study contributes to knowledge about
the effect of (IET) in developing countries as well as in GCC states.
Keywords: Innovation, Entrepreneurship, Technology Commercialization, Gulf Cooperation Council States (GCC)

The Business Incubators Program is an economic and social program
that provides many services such as :

The new modern tools for the 21st century, such as innovation and technology transfer, help foster the entrepreneurship climate.
Innovation and technologies will be the drivers of the 21st century. In addition, the accelerator of Innovation will create new jobs,
new products, digital growth and catalyze broadly shared economic growth.
In the United States, the strategy for American innovation consists of three parts: (1) to invest in the building blocks of American
innovation and to ensure that the economic tools for successful innovation from research and development to transfer of those
innovations, (2) to promote competitive markets that spur productive entrepreneurship to allow companies to be internationally
competitive in innovation, and (3) to catalyze breakthroughs for national priorities.

Literature review

Business incubation has long been a successful
economic development tool in developed as well
as lesser developed countries. In the United States,
incubation has been a growing phenomenon for
almost 45 years, with the first incubators emerging
in areas where manufacturing was on the decline,
and redundant factory buildings held the promise
of renewed economic activity. Business incubators
offer considerable potential for promoting economic
development in worldwide, where small companies
may be struggling to compete in local, international
markets with relatively few resources and limited
technical or business expertise.
Business incubations program is an economic
and social program which provides several of
services, such as: 1) intensive support to start-up
companies, 2) coach them to start and accelerate
their development and success through business
assistance program,3)help young firms to survive
and grow during their start-up years, and 4)play a key
role in the economic development of a community or
region. In developing countries, including Kuwait and
the other GCC member states, business incubators
can be particularly valuable in helping to develop
local economies, promote technology transfer, create
new enterprises, and generate jobs. In addition, recommendations to maximize the
success of incubators, including matching services offered to the needs of clients and
involving a range of community stakeholders in the development of their programs.
A number of options were proposed in their work for developing and expanding the
business incubator concepts in Kuwait and the GCC member states. Further, there are
7000 incubators worldwide and 21 incubators across the Middle East. Interviews were
conducted with senior executives of 5 incubators organizations across the developing
countries. Furthermore, the benefits of incubators in developing countries, include
Kuwait and other GCC member states, could be development of the local economy,
promote technology transfer, and create new enterprises and positive impacts on jobs
creation. Business incubators offer considerable potential for promoting economic
development worldwide, where small companies may be struggling to compete in
local, international markets with relatively few resources and limited technical or
business expertise.
Today, Europe has funding in incubators with the goal of job creation and economic
recovery. Business incubators contribute to the international economy and play a vital
role not only in the economic recovery but also in economic development. International
adaptation leads to the support of diverse economies, the commercialization of
new technologies, jobs creation and wealth building. A recent study showed results
of quantitative and qualitative responses used to determine success rates and key
indicators of incubators in various countries. This best practice model based on the
lessons learned from case studies indicated that the success of incubatees to sustainable
graduation is reliant upon 1) clear objectives, 2) incubators location, 3) access to services,
4) employment creation, and 5) economic development strategy. Moreover, when
accomplished, the best practice model can lead to a 90% survival rate of companies
and reflects sustainability in the market.
Although, study proposed a measurement model relevant to the international context.
Four measured indicators were looked at: 1) graduation of incubated businesses, 2)

success of businesses incubated, 3) jobs created by
incubation, and 4) salaries paid by incubator clients.
in various countries. This best practice model based
on the lessons learned from case studies indicated
that the success of incubatees to sustainable
graduation is reliant upon 1) clear objectives,
2) incubators location, 3) access to services, 4)
employment creation, and 5) economic development
strategy. Moreover, when accomplished, the best
practice model can lead to a 90% survival rate of
companies and reflects sustainability in the market.
Although, study proposed a measurement model
relevant to the international context. Four measured
indicators were looked at: 1) graduation of incubated
businesses, 2) success of businesses incubated,
3) jobs created by incubation, and 4) salaries paid
by incubator clients. The recommendations from
the study could be helpful in developing business
incubation guidelines for best practices in the
GCC, which will lead to economic development
worldwide and in the GCC. Presented some cases
related to incubators performance from Europe
and other developed countries. In addition, other
studies identified the roadmap for incubators as
four strategic outcomes: (1) entrepreneurial climate,
which 62% indicated was the primary purpose of
their incubator; (2) commercialization technologies,
indicated by 55.5%; (3) employment, 51.6%; and (4)
innovation and diversifying local economies, 46.1%.
The research adds value to current the literature on
sustainability of incubators and outcomes.
Moreover, it has been observed in China that the
extensive business incubator program developed
in the early 1990s has played a key role in facilitating
the country’s transition from a socialist to a market
economy by enabling the commercialization of
technological developments and promoting a
culture of innovation across China. Similarly, in India,
business incubators have formed an important
part of the government’s science and technology
policy. The technology transfer function in university
with sensitivity to regional economic development
will also commercialize faculty inventions via
licenses with state-based companies’ involvement
in entrepreneurial and economic development.
Innovation strategy is a critical activity in the US
State Government. Funding for support of the innovation strategy is over $100 billion.
The 21st century will be shaped and built by technologies and innovation. Innovation
will create new jobs and catalyze broadly shared economic growth. The strategy for
American innovation consists of three parts: (1) to invest in the building blocks of
American innovation and to ensure that the economic tools for successful innovation
from research and development to transfer of those innovations, (2) to promote
competitive markets that spur productive entrepreneurship to allow companies to
be internationally competitive in innovation, and (3) to catalyze breakthroughs for
national priorities (White House, 2010).
Finally, a recent study demonstrated the commercialization of new products, new
processes, and new business models, among others, whose main strategic goals
require firms to pursue leverage creativity, innovation, and entrepreneurship as well
as embrace and adopt business incubation as a strategy. The authors attempt to make
business incubation a strategy not only for new and emerging technology-driven firms
but also for large, industrialized corporations. Furthermore. It is argued that creativity,
innovation, and entrepreneurship should not only be the exclusive routine or practice
of small firms but should also be a part of large corporations if they are to survive and
prosper in the new economy.

Methodology

This study concentrates on a specific context, i.e., the innovation, entrepreneurship, and
technology commercialization (IET), making the case study method most appropriate.
The investigation and analysis of literature is an accepted form of desk-based research
that compares the works of different authors. This type of approach is closely linked to
mixed methods approach quantitative (survey questionnaire) and qualitative (multicase studies, literature review) with qualitative research. This approach allows a broader
assessment of a particular and real situation.

Findings

The survey questionnaire was supposed to provide quantifiable records on the
characteristics of innovation and incubators software around the world, which includes
the age of incubators, client catchment regions, and area of incubators, number one
capabilities, and precedence dreams, sponsoring entities and stakeholders, and customer
performance. The case studies were meant to collect more in-depth information about
the operation and innovation software consequences, which include innovation,
entrepreneurship, activity advent by drawing on the perspectives and stories of quality
practice. A hundred survey invitations were emailed to NBIA contributors via the survey
monkey website, and forty-one became forty-one, representing a response price (RR)
of approximately forty-one percent. Table 1 shows the summary of the

Conclusion

Business and innovation programs are an economic and social
development entity designed to advise potential start-up companies
and accelerate their growth and success through a comprehensive
business assistance program. The main goals are 1) innovation
accelerator, 2) commercializing technologies, 3) entrepreneurial
climate, 4) diversifying local economies, and 5) employment.
This paper indicates three categories’ similarities. First, most of the
people’s policies are excessive in all the variables, which leads to
the excessive effect of innovation programs on the entrepreneurial
climate, commercializing technology, and employment. Second,
most of the enterprise variables suggest high demand within the
growing international locations’ governments and practitioners,
as well as GCC states.
However, there are two categories of differences in developing
countries that must be concluded: 1) economic variables such as the
number of startup organizations and jobs created may differ from
country to country depending on the funded year; 2) from an industry
standpoint, some innovation programs are run by governments
while others are run by private sectors or technology parks.
In conclusion, this study has clearly stated that the innovation
programs provide a support structure and an adequate framework
for innovation, entrepreneurship and technology commercialization
(IET) towards 21st century growth. This is evident in the developed
countries such as the GCC member states. Hence, the authors
are planning to develop a blueprint model for the GCC countries
implication taking into account the economic, social, and industrial
strategies.

References

Al-Mubaraki, H. and Busler, M. (2012) ‘Innovation,
Entrepreneurship and Technology Commercialization
In Developing Countries: A GCC Perspective in an
International Context’, European Journal of Business
and Management, Vol. 4(19), pp 141-158.

Available online:

https://www.iiste.org/Journals/index.php/EJBM/article/view/3593/364

Acknowledgement

This paper is part of published book & journal paper.
I would like to express my genuine appreciation to
the authors