Abstract
This study establishes strategies for the science and technology park (STP) operators to develop the support their hosted companies/startups (HCs) need to improve their performance at different stages of maturity. Unlike most of the research concentrated on the STP's viewpoints or used the after-the-fact results to create the policy guidelines for the operators, our paper uses the opposite approach by directly asking the HCs regarding what they need. From our survey results, we have identified two different strategies for improving HCs' performance. A comprehensive internal incubation network is necessary for any startup in a relatively mature development stage but with short settled years. On the other hand, a robust external incubation network is crucial for small-size startups in a low level of development stage but with long-settled years at STPs. We hope that the methodology underpinned in this study could open a new window for future research to better aid HCs in an STP.
Highlights
Establishing and operating science and technology parks are essential in the regional economic context
Albahari et al (2013) listed several benefits that could positively affect the performance of the hosted companies, including creating external collaborations, improved research achievements, and support for applying for patents. They suggested that science and technology park (STP) can create a supportive space for new companies based on knowledge and technology, including facilitating technology transfer, attracting companies at the head of a technology sector, or promoting hosted companies/startups (HCs)' growth
Lan, Chen, & Zeng, 2020) argue that STPs do not have any relevant effect on the outcomes of hosted companies
Summary
Establishing and operating science and technology parks (hereafter STPs) are essential in the regional economic context. They are the policy tools for meeting a variety of financial and socioeconomic goals. Sometimes local governments will create designated technology corridors to attract high-tech companies to boost the local economy and employment growth. Based on the assessment results, the park operators can design managerial policies and business operating models to help the new parks or those in their initial growth phase offer the business support functions and services needed by various hosted companies
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