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Science Parks and the Performance of New Technology-Based Firms: A Review of Recent U.K. Evidence and an Agenda for Future Research

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  • Siegel, Donald S
  • Westhead, Paul
  • Wright, Mike

Abstract

Science parks were established to stimulate the formation and development of new technology-based firms (NTBFs). Despite the potential importance of these institutions as a mechanism for generating technological spillovers and employment growth, there has been little systematic analysis of their impact on NTBFs. In this paper, we review some recent evidence comparing the performance of firms located on and off U.K. science parks. This preliminary evidence suggests that the "returns" to being located on a science park are negligible. We conjecture that these results may be due to imprecise estimates of these returns and may also be masking important differences in the returns to different types of science parks. In addition, we outline an agenda for additional research on the effects of these institutions on NTBF performance. Copyright 2003 by Kluwer Academic Publishers

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Bibliographic Info

Article provided by Springer in its journal Small Business Economics.

Volume (Year): 20 (2003)
Issue (Month): 2 (March)
Pages: 177-84

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Handle: RePEc:kap:sbusec:v:20:y:2003:i:2:p:177-84

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Web page: http://www.springerlink.com/link.asp?id=100338

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Cited by:
  1. World Bank, 2008. "Bulgaria - Investment Climate Assessment : Volume 2. Detailed Report," World Bank Other Operational Studies 7868, The World Bank.
  2. Marina Geenhuizen van, 2003. "Fostering Academic Entrepreneurship: New Insights into Incubation from an Evolutionary Perspective," ERSA conference papers ersa03p362, European Regional Science Association.
  3. Vásquez Urriago, Ángela Rocio & Barge-Gil, Andrés & Modrego Rico, Aurelia & Paraskevopoulou, Evita, 2011. "The impact of science and technology parks on firms´ product innovation: empirical evidence from Spain," MPRA Paper 30555, University Library of Munich, Germany.
  4. Link, Albert N. & Scott, John T., 2003. "U.S. science parks: the diffusion of an innovation and its effects on the academic missions of universities," International Journal of Industrial Organization, Elsevier, vol. 21(9), pages 1323-1356, November.
  5. Michael Schwartz, 2013. "A control group study of incubators’ impact to promote firm survival," The Journal of Technology Transfer, Springer, vol. 38(3), pages 302-331, June.
  6. Fukugawa, Nobuya, 2006. "Science parks in Japan and their value-added contributions to new technology-based firms," International Journal of Industrial Organization, Elsevier, vol. 24(2), pages 381-400, March.
  7. Panagiotis Ganotakis, 2012. "Founders’ human capital and the performance of UK new technology based firms," Small Business Economics, Springer, vol. 39(2), pages 495-515, September.
  8. Albahari, Alberto & Barge-Gil, Andrés & Pérez-Canto, Salvador & Modrego-Rico, Aurelia, 2013. "The Influence of Science and Technology Park Characteristics on Firms’ Innovation Results," MPRA Paper 48829, University Library of Munich, Germany.
  9. Kuo-Feng Huang & Chwo-Ming Yu & Dah-Hsian Seetoo, 2012. "Firm innovation in policy-driven parks and spontaneous clusters: the smaller firm the better?," The Journal of Technology Transfer, Springer, vol. 37(5), pages 715-731, October.
  10. Ernesto Tavoletti & Corrado Cerruti, 2012. "Business Incubation: The Case of the European Space Agency," DSI Essays Series, DSI - Dipartimento di Studi sull'Impresa, vol. 29.
  11. Yang, Chih-Hai & Motohashi, Kazuyuki & Chen, Jong-Rong, 2009. "Are new technology-based firms located on science parks really more innovative?: Evidence from Taiwan," Research Policy, Elsevier, vol. 38(1), pages 77-85, February.
  12. Siegel, Donald S. & Westhead, Paul & Wright, Mike, 2003. "Assessing the impact of university science parks on research productivity: exploratory firm-level evidence from the United Kingdom," International Journal of Industrial Organization, Elsevier, vol. 21(9), pages 1357-1369, November.
  13. Valérie Revest & Alessandro Sapio, 2012. "Financing technology-based small firms in Europe: what do we know?," Small Business Economics, Springer, vol. 39(1), pages 179-205, July.
  14. Lockett, Andy & Siegel, Donald & Wright, Mike & Ensley, Michael D., 2005. "The creation of spin-off firms at public research institutions: Managerial and policy implications," Research Policy, Elsevier, vol. 34(7), pages 981-993, September.
  15. Albahari, Alberto & Pérez-Canto, Salvador & Barge-Gil, Andrés & Modrego, Aurelia, 2013. "Technology Parks versus Science Parks: does the university make the difference?," MPRA Paper 49227, University Library of Munich, Germany.
  16. Joanna Poyago-Theotoky & John Beath & Donald S. Siegel, 2002. "Universities and Fundamental Research: Reflections on the Growth of University-Industry Partnership," Discussion Paper Series, Department of Economics 200201, Department of Economics, University of St. Andrews.
  17. Michael Schwartz & Maximilian Göthner, 2009. "A Novel Approach to Incubator Evaluations: The PROMETHEE Outranking Procedures," IWH Discussion Papers 1, Halle Institute for Economic Research.
  18. Michael Schwartz, 2008. "Incubator Age and Incubation Time: Determinants of Firm Survival after Graduation?," IWH Discussion Papers 14, Halle Institute for Economic Research.
  19. Achilleas Tsamis, 2006. "Science and Technology Parks in Two Lagging Regions of Spain: A Comparative Evaluation Using an Innovation Network Approach," ERSA conference papers ersa06p443, European Regional Science Association.
  20. José Barbero & José Casillas & Mike Wright & Alicia Ramos Garcia, 2014. "Do different types of incubators produce different types of innovations?," The Journal of Technology Transfer, Springer, vol. 39(2), pages 151-168, April.
  21. Soekijad, M. & Walschots, J. & Huysman, M., 2008. "Congestion at the floating road? Negotiation in networked innovation," Serie Research Memoranda 0002, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
  22. Link, Albert N. & Scott, John T. & Siegel, Donald S., 2003. "The economics of intellectual property at universities: an overview of the special issue," International Journal of Industrial Organization, Elsevier, vol. 21(9), pages 1217-1225, November.
  23. Johnson, William H.A., 2011. "Managing university technology development using organizational control theory," Research Policy, Elsevier, vol. 40(6), pages 842-852, July.

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