International Research Journal of Education and Technology

The symbiotic relationship between entrepreneurship and business incubation programs in higher education and as well in MSMEs is examined in this paper. The idea that a thriving private sector is necessary for economic growth has long been supported by the development community. Enterprises have been hailed as the engine of economic growth, with a crucial role at the heart of entrepreneurship, particularly in developing countries. Enterprise development has been hailed as the source of the majority of new jobs and productive investment, as well as the foundation for economic growth and poverty reduction. It is suggested that such business assistance programs as business incubators are the much-needed business model for developing entrepreneurship in any country, particularly in the Philippine Higher Education. According to the incubation development theory, offering shared facilities such as working spaces, offices, hands-on organization support, and access to financing, networking, and publicity to important business and technical assistance improves venture success throughout the incubation phase not only for the students in this program but as well as the SMEs practitioners. Economic development, job creation, and increased competitiveness of existing businesses are all benefits of this symbiotic relationship between entrepreneurship and business incubation.

Key Words:  Entrepreneurship, Business Incubation, Technology, SMEs, Venture