![]() ![]() Since they are the only sources of new value creation, innovation, new wealth creation and most importantly new jobs generation, their role as agents of economic growth, can never be overstated. They need to be identified, supported, nurtured and leveraged to success for the benefit of all in the society. Potential entrepreneurs are too precious to be missed out. Entrepreneurial spirit and risk taking ability are key to the growth of any nation. This paper is based on a wide literature review, focused on the identifying structure of the incubators and government policy as tool for economic development. The aim of this paper is to review the literature and show the strength and weakness of entrepreneurship efforts in India. The other methodology focuses in enhancing the business incubation by suggesting a national business incubation project that can reach all regions of Panama, and to make recommendations that could create added value to the current universities incubation programs. One methodology focuses on enhancing the entrepreneurial ecosystem through the initiatives approach. In the Practical part the author suggests two methodologies to provide solution to the problem. The author notes the similar characteristics Latvian Incubation programs share with those of Panama and conducts a second interview to explore, record and understand the Latvian practices. The theoretical part is about Global Entrepreneurial Environment, Entrepreneurial Ecosystem, and Best Practices of Business Incubation of several performers of the world. Interviews were conducted to managers of University Business Incubators to understand the general characteristics of the incubation programs and to identify measures that could enhance the incubators. The Analytical part consists of an overview of business incubators origins, concept and types, PEST analysis of Panama, Business and Entrepreneurial Environment in Panama and Business Incubators in Panama. The thesis consists of three parts: The Analytical part, Theoretical part, and Practical part. ![]() The main problem is the lack of an integrated and developed entrepreneurial ecosystem that would influence the further development of university business incubators. Bibliography consists of 96 sources such as scientific papers, articles from scientific journals, economical and entrepreneurial benchmarking global reports and electronic resources. ![]()
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