Business Incubation Strategy of High-Tech Venture Firms in a Science Park - Technopolis: Best Practices for Science and Technology Cities - page 156

Fig. 7 The expected difficulties of start-up and supports needed

solution of technical problems and fear of failure were not considered to be major
difficulties in starting business. Figure 7 shows that start-up challenges had diffi-
culties similar to those of the supports; funding capital, shortage of managerial
know-how, lack of demand for products and marketing, and complicated admin-
istrative procedures when considering opening businesses. Both solution of tech-
nical problems and fear of failure were relatively minor ones.
When highly qualified manpower in DST tried to establish their venture busi-
nesses, the most needed supports from the community were for capital, adminis-
trative (including simplifying the complicated procedure for start-ups), information,
managerial, and equipment support. The last one needed was technical support. For
graduate students, results showed little difference when compared with professors.
The survey results of high-tech venture firms from DST show us a clear picture of real
demands for technology commercialization. They need venture capital and admin-
istrative support. Other factors like managerial and technical support are minor ones.