Science and Technology Park as Regional Innovation Platform: A Case of Chungnam Techno Park, Korea - Technopolis: Best Practices for Science and Technology Cities - page 388

When CTP opened its business in 1999, 32 enterprises began their businesses at
CTP's business incubation center. The number of start-ups has dramatically
increased since 2006: 56 start-ups in 2006 108 in 2007, 113 in 2008, and 132 in
2009. The number of employees has also increased quickly since 2006 as well; 651
persons in 2006, 1,021 in 2007, 1,223 in 2008, and 1,481 in 2009.
The most interesting statistics is the sales amount of the enterprises: $63 million
in 2006, $131 million in 2007, $314 million in 2008, and $442 million in 2009
(Chungnam Techno Park 2010 ). Although there was an economic downfall during
this period, the performance by the amount of sales jumped significantly. It was
possible due to the fact that the automobile industry center newly opened at the
period. Moreover, the enterprises are advanced technology-driven ones (see Fig. 9 ).
The total numbers of start-up enterprises at CTP campus from 1999 to 2009 are
282. Among them, 56 enterprises successfully graduated from CTP, moving out of
CTP to their own independent production sites. Among 56 graduated, 35 are doing
their businesses successfully and 21 have been merged with other companies or
stop their businesses. There are still 132 enterprises at CTP campus and 94
enterprises failed during the incubation process (see Fig. 10 ).
The aggregated amounts of 282 enterprises produced are $5,962 million and the
aggregated numbers that 282 enterprises employed are 14,884 persons for the last
11 years. In 2009, 35 graduated enterprises produced $285 million and employed
1,311 persons. The graduated enterprises will continue to increase when the
business incubation program works properly. It is believed that CTP has rapidly
increased its reputation among entrepreneurs. The brand name value of CTP has
recently increased as well. Thus, many more graduated enterprises will reside
around CTP and in Chungnam province.
Fig. 9 Performance of start-up enterprises at CTP ( 2000 - 2010 ). source: annual report of
Chungnam Techno Park, 2011