Business incubators have been established around the world to spur economic development. Their value proposition to tenants is to provide them with a mix of infrastructure, business development services and access to networks. Most studies about business incubation describe an array of available services but often fail to present the tenants’ assessment quality and impact of such services. Further, the evolution of the incubation is seldom discussed. We set out investigate if there are differences in terms of the value proposition of business incubators as the incubation model evolves. In addition, we pose the question of whether this evolution of the incubation model impacts the extent to which tenant companies use the offered services.