Determinants for an entrepreneurial milieu: science parks and business policy in growing firms

摘要

In order to understand the "added value" of a Science Park location there is need for detailed research exploring the characteristics and performance of firms located on and off Science Parks. The analysis distinguishes between new technology-based firms on and oft Science Parks (273 firms) in Sweden during 1996-1998 in an effort to identify any element of added value which the park provides for the new technology-based firms (NTBFs). The problem of obtaining finance is one of the major difficulties faced by NTBFs (Latent construction: Resources 1). Self-financing is the dominant characteristic of funding in the small-firms sector. The attitudes and motivation of the firm founders and managers is another key factor in the ability to raise funds and achieve high growth and profitability. Information on the location of customers shows whether firms are linked to local, national or international markets, and thus their potential for growth (Latent construction: market innovation). One significant variable is geographical markets (global market). NTBFs (on-Park) have much wider market distribution throughout Sweden and abroad than is typical for small firms.