Intensive Incubation in a Volatile Ecosystem: Empirical Evidence of Business Incubation and Start-Up Performance in Nigeria
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Date
2026-03-06
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AE-FUNAI JOURNAL OF MANAGEMENT SCIENCES, Faculty of Management Sciences, Alex Ekwueme Federal University Ndufu Alike, Ebonyi State
Abstract
This study investigates the influence of entrepreneurial support services on the performance of
start-ups. The research is motivated by the growing need to understand how non-financial
support mechanisms contribute to the sustainability and competitiveness of new ventures. The
population of the study is 200 active start-up businesses currently under-going incubation
process at technological Incubation Centre, Kwara state, between year 2023-2025. The study
adopted MACORR sample size to determine the sample size of 123 which represents the
population after considering 5% margin error and 95% confidence level. A structured
questionnaire was administered to select start-up owners and managers, and data were analyzed
using Structural Equation Modeling (SEM) via R statistical software. The results revealed that
all three support dimensions, training support (β = 0.334, p < 0.001), business advisory services
(β = 0.289, p = 0.001), and technical support (β = 0.301, p < 0.001)—have significant and
positive effects on start-up performance. The model accounted for 67.8% of the variance in
performance (Adjusted R² = 0.678), indicating strong explanatory power. The study concludes
that entrepreneurial support systems are vital to start-up growth and recommends enhanced
capacity-building initiatives, mentorship programs, and targeted technical assistance to
improve the success rate of start-ups.
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Citation
Adebayo, A. A., Kareem, T. S. & Ogunremi, G. D. (2025). Intensive Incubation in a Volatile Ecosystem: An Analysis of Business Incubation and Start-Up Performance in Nigeria. Journal of Management Sciences, Faculty of Management Sciences, Alex Ekwueme Federal University Ndufu Alike, Ebonyi State. 10(2), 276-293.