The project Intercountry Business Incubators aims at establishment and strengthening of the transnational business incubators network. The network will be a forum for sharing the knowledge and technologies among partners from Latvia, Poland, Belorussia, Sweden, Germany and Norway. The project idea roots in the necessity to increasing the quality of services, efficiency and sustainability of business incubators in BSR as essential agents in nurturing and supporting development of new and innovative SMEs. Strong SMEs play a vital role in creating jobs and fostering growth to help EU overcome the current challenges with the slowdown of economy and fulfil Lisbon goals. The project has a strong transnational cooperation focus where all project activities are jointly planned and implemented by seven partners representing six BSR countries: Riga Planning Region and Riga Technical University (Latvia), Teknikdalen Foundation (Sweden), the City Commune of Elblag (Poland), Centre of Technology Western-Pomerania (Germany), Innovation Centre Hedmark (Norway) and Scientific Technological Park Metolit (Belorussia). The project entails four Work Packages: (1) Project Management and Administration, (2) Communication and information, (3) Establishment of IBI Net and (4) Capacity Building of IBI Net. Main activities of the project include: (1) carrying out feasibility study on entrepreneurship in BSR and development potential of business incubators; (2) establishment of the IBI Net network and ensuring information platform for its operations – IBI Net Portal, (3) best practice exchange of benchmarking of business support services, (4) carrying out analysis and elaboration of guidelines for financial sustainability of business incubators, (5) introduction of IT tools for management of partner business incubators and organization of the Partenariat to intensify business contacts in the BSR. Main results of the project are: (1) Quality and efficiency of business support services, especially those provided to innovative and export oriented SMEs, strengthened; (2) transnational cooperation network of business incubators established and strengthened fostering entrepreneurship in BSR sharing transnational know how and expertise; (3) business support services in partner countries strengthened using the best practice examples and benchmarking. Achievements: Project achievements are as follows: • The Analysis about business incubators in BSR – services and management capacity development needs Business Incubators in the Baltic Sea Region – ways to increase quality and effectiveness. The findings and recommendations of the Analysis disseminated to the project stakeholders: business incubators, local and regional municipalities. The analysis included 15 business incubators in partner countries revealing the status quo and development needs of business incubators based on data about their history of development, financing structure, processes and services, management aspects and follow up to incumbent SMEs. Analysis was completed in June 2011. • IBI Net association. To ensure IBI Net Network sustainability and further development beyond the project, the association IBI Net e.V. (International Business Incubator Network) in September 2011, in Berlin, Germany was founded. IBI Net e.V. is a network for establishing and strengthening the transnational business incubator network and for technology- and knowledge transfer within Europe. Currently the members of Association include: Technology Centre of Western Pomerania (Germany), Innovation Centre Hedmark (Norway); State Enterprise "Scientific - Technological Park BNTU "Polytechnic"" (Belarus); Riga Technical University (Latvia); Teknikdalen Foundation (Sweden) and Riga Region Business Development Incubator (Latvia). IBI Net is focussing on business incubators but also cooperates with technology centres, small and medium-sized enterprises (SME), universities, public institutions and other important actors. The strenght of IBI Net depends on the strength of the individual members. It coordinates the existing partnerships, activities of the network as well as it stimulates the creation of new partnerships. • IBI Net portal (www.ibi-net.eu) developed by Riga Technical University is an on-line centralized information source and platform for cooperation and information exchange among IBI Net network member organizations (incubators) and their companies. Portal contains information about partner business incubators, incumbent companies – their products, services, cooperation offers, business proposals and contact information. It provides automatic and manual data collection tool from Business incubator websites and a search tool. • ICT Tool for monitoring development of BI companies elaborated and available to consultants and coaches of business incubators. • Already in the lifetime of the project IBI Net Guidelines: the action plan for further IBI Net activities and strategic development goals elaborated and adopted by regional policy makers. • Financial guidelines outlining funding options of business incubators based on BSR best examples were developed.