Entrepreneurship Incubation among the Nigerian Igbos: The Igba-Boi Indigenous Model

Abstract

Igba-Boi model of entrepreneurship incubation among the Igbos in south-eastern Nigeria records outstanding and robust successes in producing entrepreneurs with global impact. Therefore, the need to understand its nature, process, driving force, challenges and make suggestions to reinvigorate it has become urgent and valid. Also, with the persisting overbearing influence of Western and lately Asian philosophies in the development of business theories and practice, it is long overdue to mainstream Africa's entrepreneurial philosophy into extant discourse; this chapter contributes to this effort. Such an attempt follows the belief that Africans with their indigenous systems hold higher hope for the development of the continent. Since the rest of the world had at some point in history leveraged on Africa's civilisation to forge ahead, this chapter argues that Africa stands to contribute to the global search for efficient incubation of entrepreneurs using the Igba-Boi model. The chapter is guided by and framed with reviewed publications, philosophies and theories that explain Igbos' construction of social realities and worldview. Structural functionalism and conflict theories offer in-depth insight in explaining the success story of the Igba-Boi institution. The chapter, in particular, adopts the Igbos' interpretation of their cosmos, its eschatological implications in explaining their tenacity and doggedness in successfully meeting all the requirements for graduating from Igba-Boi incubation system. By discussing Igba-Boi as a socioeconomic institution, this chapter draws attention to areas of neglect for improvement in order to harness its high potentials for enhancing its contribution to business practice in Africa and development of the continent.