Role of STPs as Technology Development Catalysts

This study showed some differences between the experiences of firms on-Park and off-Park with respect to innovation, management and financial issues (Founders, Technology, management, advisers, investors and finance). The problem of obtaining finance is one of the major difficulties faced by all New Technology Based Firms. Self-financing is the dominant characteristic of funding in the small-firms sector. It is obvious that Science Parks firms have higher R&D intensity in terms of importance of R&D for a starting firm and postgraduate education. This paper aims to explore the innovation capacity a science park in the Netherlands. Considerable resources are being devoted to science parks as policy instruments aimed at promoting R&D-based as well as innovation activities. Differences in determinants for innovation capacity such as the basic research infrastructure sophisticated and demanding local customer base and the presence of clusters instead of isolated industries. It was discovered that there is more interaction occurring amongst on-park firms in the area of innovation. Without Innovation, New Technology Based Firms under Science & Technology will not move forward.