Building an Appropriate Business Model for the Innovation and Entrepreneurship Center in Kuwait

Entrepreneurship helps build sustainable economies by supporting economic growth, innovation, creating skilled technological jobs, contributing to knowledge economy, and feeding national development plans with innovative parameters. To support innovation and enhance capacity building, it is important to investigate and select the appropriate Innovation and Entrepreneurship Business Model. This paper determines whether an innovation hub, such as the Kuwait Innovation and Entrepreneurship Center (KIEC) falls along the spectrum of socioeconomic vs. financial returns business model, identifying facilities and services offered in the center, understanding their impact on the model, and presenting appropriate business model options. Moreover, qualitative assessment of other business model concepts are identified to become basis for the development of a feasibility study and business model for KIEC.