This paper describes a longitudinal study of over 10 years of university pre-incubation in Wales, using case studies of incubated businesses to track their performance since 2001. Surviving "graduated" businesses were investigated and quantitative and qualitative data were gathered to profile the current status of these businesses and assess their development following the incubation process. It was noted that the off-site location was beneficial in recruiting both graduate and non-graduate clients and gave rise to a proactive and enabling business environment. Overall, a positive contribution by the pre-incubator was found, in terms of turnover generated and jobs created in an area of economic underperformance. (Contains 4 tables, 3 figures, and 3 notes.)