Innovation incubators are entities of the infrastructure network of support of small and medium-sized enterprises. At the stage of SMEs’ maximum vulnerability, they improve the survival of innovative businesses through the range of services and facilities provided. They are designed to mitigate the problems faced by SMEs, which develop and implement innovations, ensuring sustainability and competitiveness. Along with promoting the entrepreneurial spirit, innovation incubators play an essential role in promoting knowledge and innovation transfer, introduction of the research results into economic circuit, creating links between businesses, universities, research institutions, etc., links between people, talents and resources.In this article, we will focus on innovation incubators, their role in the development of SMEs in the world and in the Republic of Moldova, making an accent in the creation and development of the country's first Innovation Incubator „Inovatorul”.