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and other enterprises are inseparably related each other, industrial sites for light
production are designed in DTV next to Daedeok Science Town. In addition,
public organizations give support to the businesses that have been successfully
developed through the first and second stages. This area provides them with a site
that can accommodate businesses requiring self-containing, prestigious, and stand
alone building of their critical mass. They can also construct their production
facilities in any other industrial estates. When the start-up firms succeed in
standing alone at one of those industrial parks, it is truly the final stage for the
incubation of spin-off activities. This is one of the important functions of the high-
tech industrial park, which will have a significant influence on the economic
development in Daejeon Metropolitan City.
6 Conclusion
In this chapter, the infrastructure and support mechanisms for technology com-
mercialization in a science park has been evaluated with particular reference to
business incubation of high-tech venture firms.
The critical question is what can be learned from the experiences of successful
science park development as to how science parks should develop in order to
support the technology commercialization and business promotion, and benefit the
regional economy as well as the local industrial structure. There are several
important findings from science park development experience that are crucial to
the future development of science parks in developing countries.
• First: A popular tool for creating high-tech venture firms is a science park, as it
constitutes a channel by which scientific research is linked to commerce. There
is a need to create BIs and technological and financial support mechanisms in
order to maximize opportunities for technology transfer between academic and
research facilities and private firms.
• Second: It is necessary to stimulate researchers' entrepreneurship to create high
technology venture businesses by means of a favorable infrastructure that com-
bines each resource of research institute, universities, and a community. Science
parks should include four major thrusts: a small BI, a technology commerciali-
zation 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 pro-
fessionals in high technology fields and venture capital into the region.
• Third: A 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. Four kinds of
network to make linkage between high-tech firms and market (Networking for
markets; Networking for interfirm linkages; Expand access to technology
transfer opportunities and networking for technological support; and Network-
ing for talent and know-how) are crucial to the growth of science parks.
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