This research examines the selection practices used by a small public incubator (SPI) and its strategic implications. SPIs generally depend on small cities and often face difficulties due to a lack of resources and inadequate competitiveness in comparison with well-equipped and more reputed incubators. The selection of projects is the keystone in the development of these small structures. We develop a qualitative approach based on a single case study. Representatives from all the incubated projects were interviewed, as well as all the managers and we performed a thematic analysis of the discourses. The in-depth study of the selection practices and the project portfolio reveals a paradox regarding the incubator’s strategic positioning objectives and the availability of resources. We conclude by discussing the strategic positioning of SPIs regarding in-house resources and the selection practices.