Skip to main content

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

Small Business Economics volume 20, pages 177–184 (2003)Cite this article

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.

This is a preview of subscription content, access via your institution.

Access options

Buy single article

Instant access to the full article PDF.

USD 39.95

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

References

  • Acs, Z. J., D. B. Audretsch and M. P. Feldman, 1992, 'Real Effects of Academic Research: Comment', American Economic Review 82, 363-367.

    Google Scholar 

  • Aldrich, H. E., 1990, 'Using an Ecological Perspective to Study Organizational Founding Rates', Entrepreneurship Theory and Practice 14, 7-24.

    Google Scholar 

  • Anselin, L, A. Varga and Z. Acs., 1997, 'Local Geographic Spillovers between University Research and High Technology Innovations', Journal of Urban Economics 42, 422-448.

    Google Scholar 

  • Audretsch, D. B., A. N. Link and J. T. Scott, 2001, 'Public/Private Technology Partnerships: Evaluating SBIR Supported Research', Research Policy, forthcoming.

  • Audretsch, D. B., J. Weigand and C. Weigand, 2001, 'Does the Small Business Innovation Research Program Foster Entrepreneurial Behavior? Evidence from Indiana', in Charles Wessner (ed.), The Small Business Innovation Research Program (SBIR): An Assessment of the Department of Defense Fast Track Initiative, Washington, D.C.: National Academy Press, pp. 160-193.

    Google Scholar 

  • Bercovitz, J., H. Feldman, I. Feller and R. Burton, 2001, 'Organizational Structure as Determinants of Academic Patent and Licensing Behavior: An Exploratory Study of Duke, Johns Hopkins, and Pennsylvania State Universities', Journal of Technology Transfer 26, 21-35.

    Google Scholar 

  • Bray, M. J. and J. N. Lee, 2000, 'University Revenues from Technology Transfer: Licensing Fees vs. Equity Positions', Journal of Business Venturing 15, 385-392.

    Google Scholar 

  • Carter, N., 1989, Science Parks Development and Management, London: The Estates Gazette Limited.

    Google Scholar 

  • Felsenstein, D., 1994, 'University-Related Science Parks-“Seedbeds” or “Enclaves” of Innovation?', Technovation 14, 93-110.

    Google Scholar 

  • Flynn, D. M., 1993, 'A Critical Exploration of Sponsorship, Infrastructure, and New Organizations', Small Business Economics 5, 129-156.

    Google Scholar 

  • Franklin, S., M. Wright and A. Lockett, 2001, 'Academic and Surrogate Entrepreneurs in University Spin-out Companies', Journal of Technology Transfer 26, 127-141.

    Google Scholar 

  • Galbraith, C. and A. F. De Noble, 1988, 'Location Decisions by High Technology Firms: A Comparison of Firm Size, Industry Type and Institutional Form', Entrepreneurship Theory and Practice 13, 31-47.

    Google Scholar 

  • Grayson, L., 1993, Science Parks: An Experiment in High Technology Transfer, London: The British Library.

    Google Scholar 

  • Gripaios, P., B. Bishop, R. Gripaios and C. Herbert, 1989, 'High Technology Industry in a Peripheral Area: The Case of Plymouth', Regional Studies 23, 151-157.

    Google Scholar 

  • Harris, R., and M. Trainor, 1995, 'Innovations and R&D in Northern Ireland Manufacturing: A Schumpeterian Approach', Regional Studies 29, 593-604.

    Google Scholar 

  • Johannisson, B., O. Alexanderson, K. Nowicki and K. Senneseth, 1994, 'Beyond Anarchy and Organization: Entrepreneurs in Contextual Networks', Entrepreneurship and Regional Development 6, 329-356.

    Google Scholar 

  • Link, A. N., and J. Rees, 1990, 'Firm Size, University-Based Research, and the Returns to R&D', Small Business Economics 2, 25-32.

    Google Scholar 

  • Link, A. N. and J. T. Scott, 2001, 'Estimates of the Social Returns to Small Business Innovation Research Projects', in Charles Wessner (ed.), The Small Business Innovation Research Program (SBIR): An Assessment of the Department of Defense Fast Track Initiative, Washington, D.C.: National Academy Press, pp. 275-290.

    Google Scholar 

  • MacGregor, B. D., R. J. Langridge, J. Adley and B. Chapman, 1986, 'The Development of High Technology Industry in Newbury District', Regional Studies 20, 433-448.

    Google Scholar 

  • Massey, D., P. Quintas and D. Wield, 1992, High Tech Fantasies: Science Parks in Society, Science and Space, London: Routledge.

    Google Scholar 

  • Monck, C. S. P., R. B. Porter, P. Quintas, D. J. Storey and P. Wynarczyk, 1988, Science Parks and the Growth of High Technology Firms, London: Croom Helm.

    Google Scholar 

  • Perry, M., 1996, 'Network Intermediaries and Their Effectiveness', International Small Business Journal 14, 72-80.

    Google Scholar 

  • Siegel, D. S., 2000, 'Strategic Research Partnerships and Economic Performance: Data Considerations', Paper presented at the National Science Foundation Workshop on Strategic Research Partnerships, Arlington, VA, October 13, 2000.

  • Siegel, D. S., J. G. Thursby, M. C. Thursby and A. A. Ziedonis, 2001, 'Organizational Issues in University-Industry Technology Transfer: An Overview of the Symposium Issue', Journal of Technology Transfer 26, 5-11.

    Google Scholar 

  • Siegel, D. S., D. Waldman and A. Link, 1999, Assessing the Impact of Organizational Practices on the Productivity of University Technology Transfer Offices: An Exploratory Study. NBER Working Paper #7256, July 1999.

  • Sternberg, R., 1990, 'The Impact of Innovation Centres on Small Technology-Based Firms: The Example of the Federal Republic of Germany', Small Business Economics 2, 105-118.

    Google Scholar 

  • Thrift, N., 1996, Spatial Formations, London: Sage.

    Google Scholar 

  • Thursby, J. G. and S. Kemp, 2001, 'Growth and Productive Efficiency of University Intellectual Property Licensing', Research Policy, forthcoming.

  • UKSPA, 1996, UKSPA 96: The United Kingdom Science park Association Annual Report 1996, Birmingham: The United Kingdom Science Park Association.

    Google Scholar 

  • UKSPA, 1999, 15th Anniversary 1984-1999, Birmingham: The United Kingdom Science Park Association.

    Google Scholar 

  • Wessner, C. W. (ed.), 1999, The Advanced Technology Program: Challenges and Opportunities, Washington, D.C.: National Academy Press.

    Google Scholar 

  • Wessner, C. W. (ed.), 2001, The Small Business Innovation Research Program (SBIR): An Assessment of the Department of Defense Fast Track Initiative, Washington, D.C.: National Academy Press.

    Google Scholar 

  • Westhead, P., 1995, 'Survival and Employment Growth Contrasts Between Types of Owner-Managed High-Technology Firms', Entrepreneurship Theory and Practice 20, 5-27.

    Google Scholar 

  • Westhead, P., 1997, 'R&D 'Inputs' and 'Outputs' of Technology-Based Firms Located On and Off Science Parks', R&D Management 27, 45-62.

    Google Scholar 

  • Westhead, P. and S. Batstone, 1998, 'Independent Technology-Based Firms: The Perceived Added Value of a Science Park Location', Urban Studies 35, 2197-2219.

    Google Scholar 

  • Westhead, P. and S. Batstone, 1999, 'Perceived Benefits of a Managed Science Park Location for Independent Technology-Based Firms', Entrepreneurship and Regional Development 11, 129-154.

    Google Scholar 

  • Westhead, P., and M. Cowling, 1995, 'Employment Change in Independent Owner-Managed High-Technology Firms in Great Britain', Small Business Economics 7, 111-140.

    Google Scholar 

  • Westhead, P. and D. J. Storey, 1994, An Assessment of Firms Located On and Off Science Parks in the United Kingdom, London: HMSO.

    Google Scholar 

  • Westhead, P. and D. J. Storey, 1995, 'Links Between Higher Education Institutions and High Technology Firms', Omega, International Journal of Management Science 23, 345-360.

    Google Scholar 

  • Westhead, P., D. J. Storey and M. Cowling, 1995, 'An Exploratory Analysis of the Factors Associated with the Survival of Independent High-Technology Firms in Great Britain', in F. Chittenden, M. Robertson and I. Marshall (eds.), Small Firms: Partnerships for Growth, London: Paul Chapman, pp. 63-99.

    Google Scholar 

  • Westhead, P. and M. Wright, 1998, 'Novice, Portfolio and Serial Founders: Are They Different?', Journal of Business Venturing 13, 173-204.

    Google Scholar 

Download references

Author information

Authors and Affiliations

  1. Professor of Industrial Economics, Nottingham University Business School, Nottingham, NG8 1BB, United Kingdom

    Donald S. Siegel

  2. Professor of Entrepreneurship, Nottingham University Business School, Nottingham, NG8 1BB, United Kingdom

    Paul Westhead

  3. Professor of Financial Studies, Nottingham University Business School, Nottingham, NG8 1BB, United Kingdom

    Mike Wright

Authors
  1. Donald S. Siegel
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Paul Westhead
    View author publications

    You can also search for this author in PubMed Google Scholar

  3. Mike Wright
    View author publications

    You can also search for this author in PubMed Google Scholar

Rights and permissions

Reprints and Permissions

About this article

Cite this article

Siegel, D.S., Westhead, P. & Wright, M. Science Parks and the Performance of New Technology-Based Firms: A Review of Recent U.K. Evidence and an Agenda for Future Research. Small Business Economics 20, 177–184 (2003). https://doi.org/10.1023/A:1022268100133

Download citation

  • Issue Date:

  • DOI: https://doi.org/10.1023/A:1022268100133

Keywords

  • Additional Research
  • Preliminary Evidence
  • Industrial Organization
  • Potential Importance
  • Employment Growth