Despite the inexistence (or disintegration) of data and pertinent information this study, conducted in 2015, describes the characteristics of an incubation business model that proposes an integral vision of this ecosystem in Costa Rica. This exploratory study uses typical information collection techniques for the application of a qualitative paradigm with ethnographic elements. In-depth interviews were carried out with business incubator managers holding active projects at public universities in Costa Rica, and a digital questionnaire was sent to incubators managers in Latin American (Chile and Mexico) to compare relevant aspects between incubators. As a result, 81 characteristics were determined and grouped in a model of eight categories: constituent aspects, directive profile, organizational model, management strategies, operational resources, strategic al­liances, project management, and student relationship. Even though common elements are present in incubators, it was also determined that each model has its own identity with multiple distinctive characteristics, such as: an organizational model, an academic model, available resources and stan­dardization processes for potential entrepreneurs.