The role of business incubators in a just transition : a case study highlighting good practice

A successful just transition depends on both the phase-out of coal and carbon-intensive activities as well as the scale-up of future-proof businesses that focus on green and circular practices. Business incubators can play a key role in developing the economy of the future by helping innovative businesses in the region succeed. Just Transition Fund (JTF) territories that consider setting up a business incubator should start with identifying the territory's opportunities and challenges, as well as the strengths and weaknesses of existing communities and industries. The mission and structure of the incubator should be defined accordingly. Business incubators can help enterprises in a variety of ways - from providing infrastructure, mentoring, coaching, and training to any form of expertise transfer. Business incubators that are financially and socially sustainable can catalyse the successful restructuring of a JTF territory's economy.