Everybody loves Science Parks. Co-locate a university, science/tech-based companies large and small, accelerators, and other stakeholders, and all that knowledge and energy is sure to percolate through and create venture value.
Yet not every Science Park is guaranteed to succeed; indeed, they can also fail, and there are known factors that can affect the likelihood of success and failure.
Prof. Carmeli had studied numerous Science Parks on three continents, and examined their strategies, circumstances, and outcomes. He concludes that while these parks can foster the creation of new knowledge and innovation – and drive the economic development of the regions hosting them – they must overcome challenges to attain that success. In particular, they must optimize their interaction with local government, their business model, strategy, and infrastructure.
The article presents a comparison table of 14 Science Parks in 12 countries, providing data on their size, headcount and company counts, and focus areas. Case studies of the Imperial College White City campus in London and TusPark in Beijing go into more detail.
If you’re setting up or managing a Science Park, you don’t want to miss this article.
Appeared in the issue: Coller Venture Review — 2014 -1 — Welcome Issue
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List of References:
- Carter, N. (1989), Science Parks, Taylor & Francis.
- Ferguson, R. & Olofsson, C. (2004) , Science Parks and the Development of NTBFs— Location, Survival and Growth. The Journal of Technology Transfer, 29(1), 5–17.
- Löfsten, H. & Lindelöf, P. (2002), Science Parks and the growth of new technology-based firms—academic-industry links, innovation and markets. Research Policy, 31(6), pp.859–876.