Method for measuring STP social value published in scientific journal

A methodology developed by university researchers for assessing the social value of science and technology parks (STPs) and areas of innovation (AOIs) has been published in the CIRIEC Journal of Public, Social and Cooperative Economy.

This novel approach, designed by Spain’s Deusto Business School, the University of Applied Sciences and Arts of Southern Switzerland (SUPSI) and the Università degli Studi dell’Insubria (Italy), streamlines the measurement process and potentially offers substantial benefits to policymakers and regional governments.

Rather than relying on primary data collected through interviews or consultations, the research team—comprising Professors Ricardo Aguado Muñoz, Alfredo Biffi, and Victor Blazquez—utilises secondary data from open databases.

They argue that this shift not only simplifies data gathering but also enhances the accuracy of the social value attributed to STPs and AOIs. The implications of this methodology could significantly influence how these innovation hubs are perceived, supported, and funded.

An initial IASP-supported pilot study implementing this new method involved 14 IASP member science parks and 799 companies. The research – outlined in a newly published paper in Taylor & Francis - estimated that the total social value generated by these entities was around €12 billion, which averages to nearly €15 million per company.

This substantial figure underscores the potential economic impact and importance of accurately understanding the contributions made by these hubs.