Technology Incubation is an integral support programme provided by government, academic institutions and the private sector. Either individually or in partnership, with the intention of creating and nurturing of budding value –added and technology based enterprises. It is designated to speed the commercialisaton of technologies by effectively linking talents, technology capital and know how in order to accelerate the development of new enterprises. Its main objective is to boost the industrial base of the country through commercialization of Research and Development (R&D) results, upgrading and enhancing the application of indigineious Technology. It is a popular economic development tool adopted in many parts of the world to mitigate nature and scope of the industrial competitiveness.

In Nigeria , Technology Incubation programme is a Federal Government effort in collaboration with the various State Governments and other relevant stakeholders. It is aimed at nurturing the startup and growth of new innovation business engaged in value added and Technology related activities over a period of time. It is a tool adopted for the diversification of the productive base of the economy in order to reduce dependence on the oil sector and on imports. The programme is established by decree No. 5 of 1995 and has been under the supervision and coordination of the Federal Ministry of Science and technology since July 1995.

GOALS.

The goal is to assist the small budding enterprises to overcome the initial hurdles viable research and Development (R&D) results and other technology into profitable enterprises. It serves as a functional linkage between Research and Industry. This is achieved by providing the critical institutional support needed by these entrepreneurs at greatly reduced costs.

CONCEPTS