Science park

Science parks are also often perceived as contributing to national economic development, stimulating the formation of new high-technology firms, attracting foreign investment and promoting exports.

Laffitte had travelled widely and developed a theory of "cross-fertilisation" where individuals could benefit mutually by the exchange of thoughts in many fields including culture, science and the arts.

They provide concentration that foster innovation and the development and commercialization of technology and where governments, universities and private companies may collaborate.

[5] Science parks are specific locations and differ from the wider area high-technology business districts in that they are more organized, planned, and managed.

an estimated 366 STPs in the EU member states that manage about 28 million m2 of completed building floor space, hosting circa 40,000 organisations that employ approximately 750,000 people, mostly in high value added jobs.

[citation needed] Rather, they are complex organisations, often with multiple owners having objectives aligned with important elements of economic development public policy as well as an imperative to be financially self-sustaining in the longer term.

[7] It defines "university research and science parks" as "property-based ventures with certain characteristics, including master planned property and buildings designed primarily for private/public research and development facilities, high technology and science based companies and support services; contractual, formal or operational relationships with one or more science or research institutions of higher education; roles in promoting the university's research and development through industry partnerships, assisting in the growth of new ventures and promoting economic development; roles in aiding the transfer of technology and business skills between university and industry teams and roles in promoting technology-led economic development for the community or region.

A science park should: "have a clear identity, quite often expressed symbolically, as the park's name choice, its logo or the management discourse; have a management with established or recognized expertise in financial matters, and which has presented long-term economic development plans; have the backing of powerful, dynamic and stable economic actors, such as a funding agency, political institution or local university; include in its management an active person of vision, with the power of decision and with the high and visible profile, who is perceived by relevant actors in society as embodying the interface between academia and industry, long-term plans and good management; and include a prominent percentage of consultancy firms, as well as technical service firms, including laboratories and quality control firms".