Lessons from a Technology Park and its engagement with SMEs

In this paper, we reflect on the portfolio of work conducted at Coventry University Technology Park since it opened in 1998. The paper highlights a number of critical success factors to demonstrate how CUTP has helped to stimulate economic development by engaging with and supporting local businesses, particularly SMES, the formation of spinout companies and the drawing down of EU funding into the region. Economic impact is also evidenced in CUTPs hosting external conferences bringing new money into the economy. In this sense the paper addresses the way in which an STP can contribute to driving city change and growth in relation to intelligent infrastructure, new ways of urban life, and business opportunities. We conclude that engaging users is essential to developing effective products and services for SMEs. The best way of maximising opportunities is through collaboration and demonstration through real world trials and experiments involving private and public entities.