Institutionalised Business Incubation: A Frontier for Accelerating Entrepreneurship in African Countries

Africa is a growing hub for small, medium and large enterprise. This paper attempts to cement the need to create business incubation institutions in South Africa (as well as in other African countries) so as to promote a superior entrepreneurial ecosystem for economic growth. The Africa of tomorrow needs solutions that last and one key component is the progress of entrepreneurship as an employment strategy, an innovation and creativity platform, and a key economic factor. This study employs a narrative overview of literature to explore an institutionalised business incubation concept as a frontier for accelerating entrepreneurship in African countries. The study found that the need for institutionalised business incubation has become pervasive for superior entrepreneurial ecosystems across economies. The study recommends that central governments need to promote the development of local, regional and national institutions for the strong development of incubation as well as entrepreneurship. Keywords: Incubation, Entrepreneurship, Economic Growth, Africa, Innovation