Evaluating the Success of Companies at University Science Parks: Key Performance and Innovation Indicators

Abstract

Science and Technology Parks (STPs) facilitate the flow of knowledge and technology among universities, R&D institutions, companies and markets, and foster the creation and growth of innovation-based companies. Among the diversity of STPs, it is possible to identify two types: Science Parks (SPs), which involves university shareholding and Technology Parks (TPs), which are not owned by universities. This study will take into account just SPs due they are closely linked to the university, and they are the bridge between University and companies in the process of Knowledge and Technology Transfer (KTT). The evaluation of the firm’s performance in SPs results in determinant to identify the needs of the companies and the feasibility of the University-Business Collaboration (UBC). Firm’s real needs also are of interest of Universities, since they face the challenge of designing strategies that best help them to transfer the knowledge more effectively. While previous studies have been focused on tenants’ innovation performance on-Park and off-Park, very little research has taken into account the Parks heterogeneity that may affect the firm’s performance. This research focuses on SPs in Spain and Mexico due to data availability. This paper (1) aims to identify the Key Performance Indicators (KPI’s) used by Companies co-located at SPs, and (2) explore the performance measure and critical success factors of SPs. For this study, data was collected through 71 online company surveys in Spain and 19 online company surveys in Mexico. This empirical analysis uses ten semi-structured interviews to explore (KPI’s) and success factors of SPs in both countries.