The business incubator as a means of transferring technology

To provide information on the purpose of a business incubator, the history of how it has evolved as an economic development tool and its relevance in academia as an instrument to accelerate the transfer of technology to the marketplace. We cite the process and case studies to illustrate the commercialization process at Stevens Institute of Technology. We conclude that universities will increasingly look to spin out enterprise companies from their intellectual property portfolio rather than just licensing the technology, and that university-sponsored, technology-focused incubators will increasingly become the vehicle of choice to accelerate these commercialization efforts.