Role of Science Parks in Entrepreneurship

Topic: Role of Science Parks

According to The International Association of Science Parks(ISAP) there are nearly 365 in number spread across nearly 70 countries involving 11000 companies providing employment to nearly 68000 people.
There are four types of Science Parks namely:
1)      Alliance-Driven Science Park
2)      University Driven Science Park
3)      Company Driven Science Park
4)      Cluster Driven Science Park

Science Parks acts as Centre for encouragement of the innovative ideas to bring the product into reality. Science parks acts as spring board for development of Entrepreneurship through constant mentoring and monitoring of the Innovative Ideas. Example  is the Science park in the Kerala which has been constantly involved in bringing the ideas of young Entrepreneurs in the forefront.

 

Science park acts as a stimulator for regional and national economic growth. With the establishments of Science Parks countries such as China, Finland have been able to achieve greater national Economic Growth. Science parks in addition to invoking innovation, R&D also play the role of  Economic development. China through establishment of regional and National level Science Parks to the tunes of 100 have able to increase the countrys economy by 4-5%. Latin American countries being aware of the happenings of Bussiness World have also pledged to take up initiative in setting up Science Parks. Science Parks have a major role to play in the economies of  Developing countries such as China, India.
   

Science Parks lays great emphasis on new innovative technology, practical skill development and also to a greater extent on environmentally oriented workspace. Science park has an important function of increasing the networking among Entrepreneurs at various levels such as state, national and International. The network consists of Science park, business community, legal and Management group and various other consultants.

 

Science Parks have also been involved in the development of regional education sector and community.Science parks influence has gone vast beyond imagination. They have been key influencers in the formulation of Universities Curriculum. They have also helped Universities formulate curriculum in field such as Entrepreneurship that help to develop future business. They have also influenced  in setting up the research agendas for Universities.