Helsinki incubators highlight best practice
A new report from business incubators in the Helsinki region, selected for the Award of Excellence for Innovative Regions under the European Commission's PAXIS network, highlights best practices they developed from 1995 to 2001. During this period, 2,000 successful companies were founded in the 17 Helsinki region incubators, creating over 3,300 new jobs in the start-up phase. Project manager Esa Sahlman writes that while the incubators are an important and cost-effective way of generating jobs and stimulating high tech development, their most important products are high quality services for entrepreneurs and start-up companies. In a foreword to the report, produced by the incubators' Quality Development Group, Finnish trade and industry Minister Sinikka Mönkäre said: 'Business incubators in the Helsinki region have, in a very short period, built up a service model which successfully combines the promotion of starting new companies generating new jobs, the diversification of the economic structure, the exploitation of high technology and the generation of new services for entrepreneurs and companies.' The report analyses the typical processes used by the incubators. Comprehensive marketing and public relations activities ensure that potential entrepreneurs are aware of the incubators and make contact with the regional incubator most suitable for their business case. Following selection, the entrepreneur signs a contract and cooperation agreement with the incubator, which then provides guidance to accelerate company's growth and development. After leaving the incubator, continued tutoring and support is available for the entrepreneur and the registration of success stories is encouraged.