By far the most famous to emerge from that era was Bell Labs, from which sprung touch tone dial, the transistor, communication satellites and information theory.
In 2017, Walmart founded Store No8 - an incubator tasked with starting new businesses that will define the future of retail.
Walmart has topped the Fortune 500 8 years in a row, generating $4 trillion in cumulative revenue in that time. Other companies pay attention to what they do.
My own prediction is that a growing portion of the Fortune 500 will follow this example: business incubators will become to the mid-2000s what R&D labs were to the mid-1900s.
Innovation - creating new products - that so defined 20th century businesses as prelude to entrepreneurship - creating new businesses - will increasingly drive and define 21st century corporations.