Civil Engineering Reference
In-Depth Information
Indeed, ICTs are becoming key to the competitiveness of any nation. Investors
are increasingly seeking first mover advantages, new products and services in
response to customers and sources of information. The rapid development of ICTs
and the Internet are exposing inefficiencies in the functioning of markets, firms and
institutions, putting downward pressure on prices and accelerating the need to
restructure and adapt to changing conditions (Edigheji
2009
).
2.3 Mandate of a University
Universities are centres for generating knowledge as well as being intellectual and
cultural centres. Universities that are effective and continue to influence tech-
nopolis growth have been pivotal in several ways (Smilor et al.
1987
).
1. Fostering research and development activities;
2. Contributing to perceptions of the region as a technopolis;
3. Attracting key scholars and talented graduate students;
4. Fostering the spinoffs of new companies;
5. Attracting major technology based firms;
6. Nurturing a
large
talent
pool
of
students
and
faculty from
a
variety
of
disciplines;
7. Acting as a magnet for government and private sector funding, and
8. Providing a source of ideas, employees and consultants for high technology as
well as infrastructure companies, large and small in the area.
Clearly, without the universities to offer the above attributes, the basis for
development of robust small and large technology-based companies would not be
readily available. However, this assumes that the universities in question have
attained an acceptable level of overall excellence in their mission. Such univer-
sities possess R&D strengths that relate to the local economic base. They are active
in the transfer of existing knowhow, i.e. technology to business, governmental
agencies, etc., capital investment in the built form and in the equity of private
businesses as well as taking leadership in addressing critical social problems
(Luger
1997
). Universities can certainly serve as a good laboratory for students
and faculty to test the applicability of theory to real problems in the various fields
including
engineering,
the
environment,
economic
development
and
other
emerging fields.
2.4 The Necessary Ingredients for Technology Parks Growth
A Technology Park is a new settlement with many high-tech production firms but
relatively few basic research institutes, whereas a science city is dominated by
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