Keywords: science parks, technology-based firms, firm development, firm growth, science park location, employment growth, biotechnology firms, small firms, science park performance
Why firms on science parks should not be expected to show better performance – the story of twelve biotechnology firms
This paper investigates growth in employment over a 13-year period in 12 small biotechnology firms, with the purpose of understanding the effects of a science park location on firm development. Findings show that all of the firms experiencing higher-growth moved off of a science park prior to exhibiting high-growth performance. Similarly, all the non-surviving firms with a science park history also relocated off-park prior to their failure. This suggests that we need to look beyond firms' present locations to see the effects of a science park location.