BEST BUSINESS INCUBATOR IN ARMENIA 1. Name of the business incubator and name of its head: Name of the Business Incubator: Enteprise Incubator Foundation Name of the Head: Mr. Bagrat Yengibaryan Address: Street: 123 Hovsep Emin street City: Yerevan P.O. Box: 375022 Telephone: +374 10 21 97-97 Fax: +374 10 21-97-77 E-mail: info@eif.am Internet address: www.eif-it.com 2. The year when the Business Incubator was established: 2002 3. The size of the Business Incubator in m 2 : 1900 m 2 4. The purpose and type of the Business Incubator Classical business incubator with different tenants; Specialized business incubator oriented for certain businesses; Business incubators for service industries; Technological oriented business incubator; business incubator oriented for women entrepreneurs; Business incubator oriented for youth; Export processing incubator; Other type of business incubator (please specify) 5. What are the concept and the Vision of the Business Incubator? Page: 1
The key role of EIF is to foster economic growth in Armenia via business assistance to IT companies, alleviation of skills constraints and stimulation of entrepreneurial activity in the IT sector of Armenia. 6. On which initiative was the Business Incubator created (Government, local authorities, business communities, others please specify)? Enterprise Incubator Foundation (EIF) is a non-profit business development incubator providing services to Armenian technology companies. It was established in 2002 by the Government of Armenia within the framework of the World Bank s Enterprise Incubator project. 7. Do you have a Business Plan? Yes 8. How is/are the owner(s)/stakeholders of the Business Incubator? Government of Armenia, private sector, academia 9. What is the legal status of the Business Incubator? Foundation 10. What kind of services is provided by the Business Incubator management? Provides premises leased on fixed terms; Consulting services; Training of entrepreneurs; Shared office administration; Provides accounting for tenant; Provide access to financing; Provides marketing services; Provides technological services; Provides services in consumer protection; Provides services in quality management; Provides services in environment services; Provides coaching; Provides mentoring activities; Other services, please specify. 11. In average how many tenants do you have? 6 companies, about 150 workers 12. What is the incubation period maximum year to be stay at the Business Incubator? 1 year
13. How many businesses left the Business Incubator from the year of establishment? N/A 14. How many businesses survived for those who left the Business Incubator? N/A 15. How is the Business Incubator financed? Renting; Providing general consultation services; Providing special services; Government/local government contribution; Donor contribution; Additional financing sources. 16. How many people manage the Business Incubator? 18 (eighteen) 17. How many support staff has the Business Incubator? Please specify these people. 13(thirteen) reception, security, cleaning 18. What is the education background of the Head of the Business Incubator? Please specify also his/her entrepreneurial background. MBA, PhD in Mathematics 19. SWOT analyses of the Business Incubator STRENGHT: You are kindly requested to list the main important characteristics in each category like Strength Weakness Opportunity and Threat (maximum 5 in each categories) starting from the most important feature and ending in the least important one. Strong professional skills Large network Excellent reputation gained in IT sector WEAKNESS: Dependence on External Financing OPPORTUNITY: Application of experience for other sectors
Attraction of various donor resources for further projects THREAT: Limitation of Scope 20. Does you Business Incubator reached the status of sustainability? Yes for Incubation part (rent of facility/infrastructure) - yes 21. What are the critical success factors in a business incubator operation? EIF works closely with most technology companies in Armenia and has a sound understanding of the field in the country, as well as serves the major channel to creating successful links with technology companies in Armenia. 22. How do you measure the performance of the tenant and the Business Incubator as a whole? High 23. What kind of assistance do you need to improve the operation and services of your BI? Cooperation with recognized global incubators 24. Is your incubator stand-alone or part of a national incubator network? Stand-alone 25. Any further issues, which you consider as important why designing and establishing business incubators. - Providing value to client businesses and stakeholders (investors, sponsors or professional service providers), including establishing strategic partnerships and access to the capital for successful ventures involved. - Developing business methods for long-term financial sustainability of a an incubator, including a well-developed business plan and a management team. Date of providing information: 25/04/2006