Civil Engineering Reference
In-Depth Information
Fig. 8
Development stages of high-tech venture firms: from spin-off's to settlement
semiskilled and lowskilled occupations. Considering this situation, there needs to
be innovative strategies to attract scientific entrepreneurs from universities and
R&D centers in DST and to mature on the point of development as viable
enterprise. As mentioned above, incubation centers can play the role of these
innovative strategies. The development strategies of business incubation and
support mechanism can be identified as follows (see Fig.
8
).
First Stage: Spin-Off's from Science Park
A model type of incubation center was established in DST, which provided an
interface between research and production in the field of high technology. Its main
aim is to support the spin-off activities from the HEI's or R&D centers and to
promote expansion of those start-up firms. It is funded mainly through public
subsidies. At present, these kinds of incubation centers are now operating at several
universities in DST. They provide units in TBI that can be leased to high technology
start-up firms that focus on new materials, computer science, and telecommuni-
cation. Business in these centers has a more advantageous position than firms in
other industrial estates because of the reasonable technology and business supports.
For example, incubators provide inexpensive space to high-tech start-up compa-
nies, which also provide common business services. They receive technical assis-
tance through the Technology Commercialization Center and can receive financing
through the seed-capital corporation. Four kinds of supportive activities, low-cost
space, shared services, technical assistance, and financing, are the major advantages
that start-up business requires to begin operating. The seed-capital fund and the
technical-assistance operation also draw business to the incubator and all reinforce
one another. This support is offered in the first 3-5 years of a new firm's existence,
the most crucial period in its ultimate survival.
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