Business incubation model for startup company and SME in developing economy: A case of Thailand

Nowadays business landscape becomes more complex as an increasingly large number of new startup companies emerges and enters the market. These startup companies which start as small-and-medium sized companies are considered to be the driving force of the economy, especially in developing countries. However, without proper business strategy and support, new startup companies often fail to survive in the highly competitive market. Business incubator is considered as one of the support mechanisms for startup companies. This paper examines a case study of Thailand as a developing country to analyze the necessary business incubation activities that support startup companies and small-and-medium sized companies. In addition to the analysis, the paper also presents the recommended business incubation model for developing economy.