Technology Parks and firm growth

We examine knowledge-based companies operating in Technology Parks and Innovation Centers located in the Basque region. Our test reveals that certain intangible assets may contribute to business growth. The experience accumulated by human capital and organizational experience are internal intangible elements that seem to influence firm growth. Beyond a threshold level of 8-10 years of firm existence, there is a positive relationship between these intangible assets and firm growth. Abouth 80% of sample firms were involved in any sort of collaborative agreement with other partners. Our results show that firms experiencing highest growth, in general establish formal agreements through contractual arrangements with R&D intensive partners (i.e., universities, innovation centers).