The university in my local area is trying to do the same thing: they spend all of their time writing funding proposals for a new 3500m2, three-storey, $20m shiny glass incubator building in an area where the startup ecosystem is maybe 2 years old, and has zero angel/VC or mentor networks.

The people behind the project are all academics and have never launched a startup in their lives. They can't even fill a trial "incubator" (that is nothing more than a coworking space) they started two years ago that has a legal maximum of 25 people due to stairwell access. At any given time, there are maybe 6-8 people in there.

Meanwhile the entire startup community is like "WTF mate"!