Science Parks and the growth of new technology-based firms—academic-industry links, innovation and markets

Management of the technology-based firms in the developing countries

“…Development of technology-based firms as spin-offs of the larger R&D projects in the defense and aerospace industries was investigated by author [5]. The study [6] investigates development of a newly created TBFs and conducive environment for their establishment and growth. Practical hints for building corporate culture that fosters innovation development were described in case studies [7,8].…”

“…[6]; -it performs R&D in-house or in close cooperation with universities and research centers [6]. Thus, technology based firm can be defined as an organi zation that focuses on creation, development and exploitation of technological innovation and whose products or services depend on the application of scientific or technological skills or knowledge.…”

Technology transfer as a driver for location of R&D active firms on science parks

“…The different definitions however also have two common denominators: science parks focus on hosting R&D active firms on the one hand, and are established in order to facilitate technology transfer between science and industry on the other. Many authors indicate that science parks are typically oriented towards young technology-based firms (Westhead and Batstone, 1998;Löfsten and Lindelöf, 2002;Löfsten, 2003, 2005;Ferguson and Olofsson, 2004) and one of the main missions of science parks is, therefore, related to the nurturing of academic firm formation (Feldman and Francis, 2003;Ferguson and Olofsson, 2004;Lindelöf and Löfsten, 2005). Bania et al (1992) argued that the technological environment of a particular park located near universities and research institutions can attract and encourage R&D active firms to populate such an area.…”

“…In a knowledge-based economy, institutional agents pursue a joint strategy to enhance the generation (by science) and use (by industry) mediated by stable interactions and exchange (by government) (Cooke and Leydesdorff, 2006). Science parks are considered an infrastructural policy instrument to transfer knowledge from science to industry (Löfsten and Lindelöf, 2002;Cassingena Harper and Georghiou, 2005;Tsai, 2005). Massey et al (1992), Kline and Rosenberg (1986), Cabral (1998) and Chesbrough (2003a) The innovation process has evolved from a linear and closed model to the model of open innovation (Chesbrough, 2003a(Chesbrough, , 2003b.…”

“…The literature on science parks has identified a number of potential benefits science parks bring in their wake. These include: the reinforcement or regeneration of regional expertise (Löfsten and Lindelöf, 2001;Feldman and Francis, 2003;Siegel et al, 2003), the creation of economic growth by increasing or diffusing innovation (Cooke, 2001;Link and Scott, 2003;Herstatt and Lettl, 2004;Zhu and Tann, 2005;Hu, 2007), the creation of high value added activities (Cooke, 2001;Löfsten and Lindelöf, 2002;Ferguson and Olofsson, 2004;Garnsey and Longhi, 2004;Tsai, 2005), the generation of highly skilled labour (Anderson and Sjölund, 2005), the attraction of international investors (Blanc et al, 2004;British Council, 2002), and the facilitation of transfer of knowledge and technology (Cabral, 1998;Macdonald and Joseph, 2001;Löfsten and Lindelöf, 2002;Link and Scott, 2003;Nursall, 2003;Cassingena Harper and Georghiou, 2005). All in all, science parks have become a key instrument of regional economic development (Wessner, 2009).…”