Economic and Social Impact of Business Incubation in UAE

Abstract

Business incubation programs have emerged as pivotal mechanisms for fostering entrepreneurship and innovation, especially within the rapidly evolving economic landscape of the UAE. This research investigates the multifaceted economic and social impacts of business incubation initiatives and their significance. By fostering a conducive environment, business incubators play a critical role in driving economic diversification. It highlights the role of incubators in fostering community engagement by creating networks of entrepreneurs, mentors, and investors that bolster the entrepreneurial ecosystem. The qualitative research methodology involves expert interviews to gather insights and support for the hypotheses formulated. By analyzing findings from various studies, this research offers valuable insights into the complex and multifaceted impacts of business incubation programs. These insights inform policymakers, practitioners, and stakeholders about effective strategies for supporting entrepreneurship and fostering sustainable development both locally and globally.