Jordan Innovation Center
Business incubators are considered an effective new mechanism for developing small and medium innovative enterprises through rendering a number of integrated services with the purpose of supporting and developing new enterprises. Hence, there is a large number of overlapping factors in the processes of preparation for staring these enterprises. These factors are: incubator organization, feasible market, and action plans which should be complied with.
Small and medium enterprises are considered among the most effective mechanisms for diversifying and expanding the base for products and industries as well as services that constitute the economic framework for the majority of the advanced world, as they are distinguished for their flexibility and quick response to variables in local and international markets. Small and medium enterprises contribute to utilizing and investing local reserves and capital, and they activate productive and industrial investment.
On the grounds of its firmly established belief in the effective role played by scientific institutions, especially universities, in serving the local community and attaining economic prosperity, Philadelphia University showed special care about technology business incubators. This is due to the fact that scientific and technology incubators represent a tool for enterprise development and increasing technological inputs. Therefore, in the long run, they contribute to boosting economic development in many countries. Supporting entrepreneurial skills and innovative ideas of the owners of new enterprises, new additions, or the youth and all community groups will inevitably support competitiveness among enterprises and their production capacity.
Accordingly, Jordan Innovation Center-Technology Business Incubator at Philadelphia University-was established in (2006) as a joint venture between Philadelphia University, EJADA and JEDCO to provide a suitable and an enabling environment for inventors, innovators and entrepreneurs to develop their ideas and turn them into sustainable productive and service enterprises in the Jordanian market to generate the desired income. The center targets university students, researchers, innovators and entrepreneurs.