Prince Abdullah bin Abdulaziz Science Park (PASP) A New Era for Sustainable Technology Based Development

Science Parks have become a crucial technology growth propellant over the past 40 years, creating operative alliances between universities and Industrial Clusters. Their incubator programs play a crucial role by promoting start-up innovation-based enterprises, which are a significant economical asset. The Prince Abdullah Bin Abdul-Aziz Science Park (PASP) merged with KFUPM, addresses the prominent issue of university and industrial collaboration. The paper discusses the functional, administrative and management aspects of PASP, with focus on its potential for a positive impact on the regional economy through supporting technological innovation and growth.