The first prototypes of business incubators appeared in the UK in the middle of XX century.
The first Business Incubator in the modern sense of the word was founded in 1959 in the United States. Joseph Mancuso bought a warehouse near the factory in the city of Batavia and founded the first incubator in America - the Batavia Industrial Center. His goal was to create new jobs in the city with an economic depression.
In 1985, there were about 70 business incubators in the world, in 1992 there were 470 incubators, in 1995 there were 1100 incubators united in the National Association of Business Incubators. The largest number of business incubators was created in the United States, helped by the need to revitalize degraded urban centers and regions, to promote innovation and entrepreneurial activity in universities, and to create attractive conditions for private investors.
In many countries, incubation programs are funded from national or municipal budgets as part of an overall economic development strategy. For example, the United States, Great Britain, and Poland are the leaders in state incubation programs. It is not surprising why entrepreneurship is so developed in these countries and the economy is so strong.
In the United States today, most incubation programs are independent and funded by communities and projects. The Department of Economic Development of USA is often the source of funds for opening incubation programs, but as soon as a program starts and starts functioning, it usually stops receiving federal funding. The rent and / or customer contributions make up 59% of the income of the incubators, 18% comes from fees for services or grants, and 15% comes from cash subsidies.
In 2000, for the first time in history, Olga and Andrii Azarov created a Business Incubator for children and teenagers on the basis of the International Education Network MINIBOSS BUSINESS SCHOOL, which had more than 5,000 young entrepreneurs’ alumni by 2019.
