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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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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.

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Authors and Affiliations

  1. Nottingham University Business School, Nottingham, NG8 1BB, United Kingdom

    Donald S. Siegel (Professor of Industrial Economics)

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

    Paul Westhead (Professor of Entrepreneurship)

  3. Nottingham University Business School, Nottingham, NG8 1BB, United Kingdom

    Mike Wright (Professor of Financial Studies)

Authors
  1. Donald S. Siegel
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  2. Paul Westhead
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  3. Mike Wright
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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

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