Review of management principles of Science and Technology Parks in international academic literature. The internal aspect of sustainability.
DOI:
https://doi.org/10.14513/tge-jres.00425Keywords:
innovation, management, science and technology park, sustainability, business modelAbstract
Purpose – This study aims to elucidate the key findings of international scholarly research pertaining to Science and Technology Parks (STPs). Furthermore, it seeks to identify the diverse stakeholders within STPs and assess their impact on their surrounding environments. The research also investigates the crucial boundary conditions for the sustainable operation of STPs as institutions. Through this comprehensive review, we endeavor to understand successful management models, with a particular focus on the revenue streams of STPs. Based on these insights, the study will formulate recommendations for Hungarian regulatory bodies governing STPs and the governing boards overseeing their operations.
Design/methodology/approach – The analysis is based on a semi-systematic review of thirty years (1994-2024) of international academic literature. In the initial phase, 173 relevant studies were selected based on search terms. These studies were then ranked by the number of citations. The subsequent phase narrowed down the results to case studies specifically concerning individual STPs, thereby reducing the volume to a manageable size from a resource management perspective. This process led to the selection of twenty research papers that were analyzed in detail in accordance with the defined research questions.
Findings – The assessment of STPs is contentious, with their impact on the surrounding environment being either positive or neutral. The stakeholder landscape within these parks is diverse, encompassing industrial actors, including large corporations, entrepreneurs, new technology-based companies, and start-ups, as well as governmental entities and university or research institutions. A primary determinant of a park's success lies in the establishment of an appropriate management team. The internal sustainability of a park is predicated on the successful cultivation of partnerships that foster knowledge spillover, technology transfer, and ultimately, innovation.
Originality – This constitutes the inaugural literature review that scrutinizes the success criteria of the park itself, rather than solely focusing on its partners. It formulates generalizable conclusions based on mature international case studies, which can contribute to the successful operation and management of Hungarian STPs.
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