Science parks and business incubation centres: An overview

Science parks and business incubation centres: An overview Charles Monck Charles Monck & Associates 13 June 2011

Definition of Science Parks and Business Incubation Centres Science Parks Business Incubation Centres ,[object Object],[object Object],[object Object],[object Object],[object Object],Business incubation is a unique and highly flexible combination of business development processes, infrastructure and people designed to nurture new and small businesses by helping them to survive and grow through the difficult and vulnerable early stages of development” Source: UK Business Incubation What are Science Parks and Business Incubation Centres?

Wainova Directory of 433 Science Parks Profile of World Science Parks World Location of SPs % Age of Science Parks Size of Firms % Origin of Firms %

University of Warwick Science Park – founded in 1984 Example of a Successful Science Park Location 25 yr Phased Development Results Partners Staff and Funding ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],1 2 3 4 5

Sources of demand and implications for the Science Park – the importance of entry criteria Markets serviced by Science Parks and Incubation Centres Sources of demand Implications for Science Park ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

UKSPA analysis: distribution of occupants by sector

UKSPA analysis: previous location of occupants

UKSPA analysis -company size (number of employees)

UKSPA analysis: occupants by size of premises (sq m)

Science Parks are shaped by three key components + funding ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Key drivers of success of Science Parks People Places Partnerships Financial sustainability Critical Success Factors in the Development of Science Parks

The best science parks have dynamic Boards, a well connected Director, high calibre staff, tenant firms run by strongly motivated CEOs and a strong brand 1 People ON SITE SUPPORT TEAM STAFF IN TENANTS FIRMS STRATEGY and VISION STRENGTH OF BRAND ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Marketing and Brand Board and Strategy The Tenants Director and Staff of SP

Linkages among stakeholders assist in commercialising research, growing profitable businesses and supporting clusters 2 Partnerships Partnerships: How Science Parks support cluster development z BUSINESS DEVELOPMENT Universities/Research STRENGTHEN Government Suppliers and Customers Financial Sector Engineering & Materials Technology Consultancy Electronics, & IT Business Services STRENGTHEN STRENGTHEN STRENGTHEN Bio Sciences

Location, land and buildings to support the process of creativity, innovation and entrepreneurship through interactions 3 Place TERMS OF OCCUPATION SOURCES OF FUNDING LOCATION AND LAND ENVIRONMENT AND DESIGN ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Design Location & Land Sources of Funding Rent and Lease Terms

Financial plan to create a financially sustainable operation with the capacity to grow over time 4 Financial Sustainability Funding incubator and grow on space Funding for business and technology support Investment – capital to cover the setting up and growth of the Science Park: Operations – income from rents and service charges to cover: 1 3 2 4 Objectives: Secure tenants to cover operational costs Balance property and business objectives Build up balance sheet to fund capital programme ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Overall aim: Growth in the number and output of knowledge based firms Impact of Science Parks and Business Incubation Centres Start Ups Indigenous Firms Inward Investment University/ Research Institute Occupants External Funders ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Market assessment and business planning for Science Park

Science parks and business incubation centres: An overview

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