Business Incubation Strategy of High-Tech Venture Firms in a Science Park - Technopolis: Best Practices for Science and Technology Cities - page 161

• Fourth: There is the need for local initiatives to reinforce technology-led eco-
nomic development through sustainable development of high-tech start-ups.
Their efforts should focus on attracting high-tech industries and establishing
promotional organizations. In particular, system approach of supporting entre-
preneurship 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: research, production,
and business incubation. The establishment of venture parks, high-tech indus-
trial parks like DTV in Korea where R& D activities can be promoted and
commercialized, makes sense in this respect.
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