Civil Engineering Reference
In-Depth Information
Business Incubation Strategy
of High-Tech Venture Firms
in a Science Park
Deog-Seong Oh
Abstract In this chapter, the infrastructure and support mechanisms for
technology commercialization in a science park has been evaluated with particular
reference to business incubation of high-tech venture firms. The critical question is
how science parks should develop in order to support the technology commer-
cialization and business promotion, and benefit the regional economy as well as
the local industrial structure. We have taken four findings from science park
development experience; in a science park, there is a need to create business
incubators (BIs) and technological and financial support mechanisms in order to
maximize opportunities for technology transfer between academic and research
facilities and private firms; science parks should include four major thrusts: a small
BI, a technology commercialization center, a venture capital, and a cooperative
linking mechanism for active R&D venture development. The four major thrusts
will provide a focal point for the creation of new venture businesses and may serve
as magnets to attract professionals in high technology fields and venture capital
into the region; science park should develop a strong linking mechanism by
network building which is largely composed of action programs that combine each
resource of research institutes, universities, and a community; their efforts should
focus on attracting high-tech industries and establishing promotional organiza-
tions. In particular, system approach of supporting entrepreneurship of high-tech
venture firms is very crucial in terms of sustainable business incubation strategy.
Start-up firms, after having successfully matured in the incubation center can then
enter the productive-oriented industrial park. The combination of these three
sectors (research park, high-tech industrial park, and incubation center) can be a
kind of complex model of sustainable business incubation for high-tech venture
firms in a science park.
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