An assessment of firms located on and off science parks in the United Kingdom

Paul Westhead · DAVID J. STOREY

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Entrepreneurship Studies and Influences Firm Innovation and Growth University-Industry-Government Innovation Models

Abstract

This study assesses the effectiveness of science parks as a location for high technology or knowledge-based firms. Science parks provide key benefits to tenants: close proximity to a university, opportunities for links and inter-trading between firms, management facilities and quality accommodations, and the opportunity for academics to commercialize their business ideas. This study compares the performance and characteristics of firms located in science parks in the UK with comparable firms located elsewhere. In 1986 a survey was conducted with 183 tenants in UK science parks, matched against 101 firms not in a park. A questionnaire was administered to the owner or senior manager. In 1992 the 109 firms still in business were again examined. A second group consisted of firms located in UK science parks in 1992 which had not yet been established in 1986, and a set of comparable firms. Four measures of performance were examined: survival/closure rates, economic outcomes (employment growth, sales growth, profitability), technological sophistication and links to higher education institutions. Among the findings: location in a science park for an independent firm does not seem to be a factor influencing survival or non-survival. The mean gain in employment for science park firms was virtually double that of off-park firms. Sales growth was also substantially higher. There appeared to be little change in the level of technology sophistication or innovation for either type of firm. The report also examines the implications of the findings for government, financial institutions, science park managers and higher education institutions. The research demonstrates the key role played by high technology based independent firms in economic growth. It is not able to demonstrate consistently that location inn a science park leads to better firm performance, though the entrepreneurs do perceive some benefits.

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1998Small firms, R&D, technology and innovation in the UK: a literature review 1998New technology-based firms in the European union: an introduction 2003Assessing the impact of university science parks on research productivity: exploratory firm-level evidence from the United Kingdom 1998Public policy measures to support new technology-based firms in the European Union 1997Financial constraints on the growth of high technology small firms in the United Kingdom 2008Managerial ties, absorptive capacity, and innovation 2005Science parks in Japan and their value-added contributions to new technology-based firms 2012Revisiting incubation performance

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