In an increasingly competitive business support industry, incubators are faced with a range of threats. On the one hand, public financiers are reducing the funds allocated and, on the other, entrepreneurs are moving away from "traditional" incubation for more fashionable rival incubation models (such as acceleration, mentoring and coworking for example). In order to better adapt to this turbulence, incubators are bringing about doing business model innovation. To understand how business support structures adapt continuously to their environment, or even to simply get ahead of the competition, we have used the dynamic capabilities theory. A single, longitudinal case study, carried out over a period of 14 months and composed of 34 interviews, revealed that two dynamic capabilities have been created: one to develop the incubation model, and one to integrate partners into the incubator. Thanks to these capabilities, we demonstrate that incubators have triggered a transformation process of business model innovation based on a combination of several business support models. A new generation of incubator business model seems to be emerging, particularly through the development of entrepreneurial behavior in incubators, which are becoming like any other business.
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