ABSTRACT
Technology incubators and science parks are recognized as key drivers of economic development and national innovative capacity. Policy makers around the world establish them to promote technology transfer and commercialisation – a path to improve technological innovations. This chapter discusses the application of risk management and auditing to technology incubators/science parks. The proposed audit plan focuses on the risk assessment using the Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework. The risk-based audit plan and performance analysis tool can help perform risk assessments across the aspects of entrepreneurial development, product/process innovations, production, marketing, and management as well as finance and investments. These dynamic tools are innovation enabler that can help achieve effective and efficient goal of incubator operation to maximize the success of emerging businesses.
