Role of Universities in Contributing Towards Science and Technology Park Development: A Framework of Critical Success Factors - Technopolis: Best Practices for Science and Technology Cities - page 301

3.4 Expenditure on Research and Development
The total expenditure of universities on R & D should be at least 2 % [Fig. 1 , (4)]
of its total budget to get any meaningful research output. In view, of the challenges
of funding that Zimbabwean universities are facing, this proposition will not be
easy to meet, hence the need for PPPs with the private sector.
3.5 PPPs
PPPs [Fig. 1 , (5)] are critical in any STP established at a university. Private
companies may be tenants at universities, financiers of STP activities or working
together with universities in STPs in one way or another. Whatever the situation,
there is need for a co-operation framework with the private sector in order to see
the successful establishment of STPs at universities.
3.6 Sustainable STPs
At this stage [Fig. 1 , (6)], the university has managed to establish successful STPs
on its campus. A number of key factors have played role to get to this stage—the
objectives of the STP, the location advantages of the university, the level of skill of
the university, its funding levels of R&D and successful PPPs with the private
sector.
4 Conclusion
It has been amply demonstrated in this paper that universities do indeed play a
critical role in the development of technology Parks. Technology Parks are
sprouting up all over the world and are creating a profound impact on global
economic landscapes. As knowledge generators which are at the centre of inno-
vation, more investment directed at universities and research institutions is
required so as to capacitate them. The role of academia-industry-government
collaboration in the creation and success of Science Parks has been highlighted. It
has been emphasised that Technology Parks success involves sustained, collabo-
rative efforts by academics, industry representatives, Entrepreneur Support
Organisations, Economic Development Organisations, engineers, entrepreneurs,
investors, and other practitioners to develop initiatives, plans, methodologies,
infrastructure, and action items. This will not only improve our national rankings