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This study aimed to examine the relationship between spiritual capital and small business innovation in a developing market economy and the highly religious society of Minangkabau.

A quantitative method was used by analyzing the data with partial least squares (PLS), comprising 278 entrepreneurial and high-growth aspiration small and medium-sized enterprises (SMEs) owners in a developing economy such as Indonesia.

The results showed that spiritual capital was a source of acquiring knowledge from innovation failure situations, serving as a catalyst for the occurrence of novelty and differentiation-related innovation.

The perspective of spiritual capital was provided within a religious community, showing that future reports should produce comparative analyses from varying contexts. Since understanding entrepreneurs' perspectives and spiritual capital situation remained ambiguous, the performance of qualitative analysis was crucial.

Entrepreneurs were expected to obtain considerable benefits from spiritual capital as a source of inspiration for differentiation and higher levels of novelty-related innovation. Similarly, policymakers should implement the capital and learn from failure to evaluate entrepreneurial SMEs concerning their capabilities.

Previous studies were unable to acknowledge an alternative source of innovation in a specific context, such as entrepreneurial SMEs with high-growth aspirations and spiritual capital. This is because capital contributes to innovation, helps in the assimilation of innovative knowledge and causes novelty-related innovation.

This study aims to investigate the effectiveness of the business incubator and its impact on commercialization strategies based on incubatees’ aspirations in three business incubators in Indonesia.

A qualitative approach was used, which involved conducting semi-structured in-depth interviews on 14 startup owners who are tenants in 3 incubators in Indonesia. The data obtained were analyzed using a thematic analysis assisted with NVivo 12.

Business incubator effectiveness was found to be heavily dependent on incubatees’ satisfaction in their interactions with the incubators. Moreover, some patterns were formed from thematic analysis and used to produce three propositions.

The study was conducted qualitatively using only 14 interviewees or incubatees from 3 business incubators in Indonesia. Moreover, a thematic analysis offers flexibility from basic to organizing and global themes, but, in this case, there may be a lack of deeper understanding, for example, in psychological viewpoints.

Business incubators in this study need to reevaluate their incubation process based on their incubatees’ aspirations. These have to be considered from the beginning of the process, particularly the innovation aspect. Meanwhile, policy implications were also discussed

Policymakers have realized the importance of business incubators in enhancing Indonesia’s innovation and competitiveness, and this has made them encourage the establishment of some new business incubators. It is, however, important to note that most of the existing ones are simply “rubber stamp” and to improve their operations and performances, some recommendations were made.

Despite the potential importance of incubation in enhancing technopreneurship and increasing a nation’s competitiveness, little research has been conducted on incubators in Indonesia’s ability to fulfill such high expectations. This specifically means there is no information on the present and past perceptions of tenants or startups on the incubators’ performances.

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Indonesia is struggling to encourage and support innovation. Business incubators may well hold the key to developing this facet of their economy.

The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.