International Services and Internationalization of Science Parks

The term "internationalization" commonly refers to "the process of increasing involvement in international operations" (Welch and Luostarinen 1988).Science and Technology parks normally adopt different policies to create attractions for knowledge based companies. The effectiveness of these policies depends on the socio‐economic infrastructures in the region where the parks operate. This includes the ties and relations of SMEs and the tenant companies settled in the park with their partners inside and/or outside the park and the national and international relations of the park itself. Why do science parks and their firms need internationalization?Very often it is because of small domestic markets, which are not big enough to consume all the smart and high niche products, therefore companies need to establish international links to reach out to the international markets. In addition, bringing in foreign technologies or modules and blending them in to the already existing pool of products is a faster way to upgrade a company’s technological sophistication,and reducing the product development time. Therefore, small domestic markets, enhancing growth and development of new technological firms and increasing competitiveness in domestic and international markets are the major reasons for internationalization.