As a modern concept of company management, controlling has lately become very important in business activities of all economic entities and its presence has been growing rapidly. The role of controlling in entrepreneurship support institutions that represent a specialised institutional support in starting-up a business venture and development of small and medium-sized enterprises is specific due to the fact that controlling as a function has not yet sufficiently developed and does not function as a separate department, but predominantly appears in project controlling. The role of controlling in current business activities of the Vinodol d.o.o. Entrepreneurship Centre is also explained and analysed in the paper. This role is mainly noticeable in the activities of analysis and planning in the compilation of business plans and feasibility studies for entrepreneurs, which is one of the points of reference of the Centre. The emphasis in the paper is placed on the applicative part relating to the project of setting up a business incubator, i.e. expansion of business activities of the entrepreneurship centre, where on the basis of economic and financial analysis investment profitability has been proven, the integrative and coordinating role of controlling analysed, and project controlling processes defined in all the phases of the project.