Technological entrepreneurship in science parks: A case study of Wuhan Donghu High-Tech Zone
Science park has been widely regarded as an effective mechanism to promote innovation and development of new ventures and industrial clusters in a region or country. With a variety of innovation factors such as venture capital and entrepreneurial talents injected into a science park, it demonstrates...
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| Published in | Technological forecasting & social change Vol. 135; pp. 156 - 168 |
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| Main Authors | , , , , , |
| Format | Journal Article |
| Language | English |
| Published |
New York
Elsevier Inc
01.10.2018
Elsevier B.V Elsevier Science Ltd |
| Subjects | |
| Online Access | Get full text |
| ISSN | 0040-1625 1873-5509 |
| DOI | 10.1016/j.techfore.2018.01.021 |
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| Abstract | Science park has been widely regarded as an effective mechanism to promote innovation and development of new ventures and industrial clusters in a region or country. With a variety of innovation factors such as venture capital and entrepreneurial talents injected into a science park, it demonstrates a positive effect on flowing and converting of knowledge in technological entrepreneurship for emerging economies. In this paper, we constructed an effect model of technological entrepreneurship of a science park in the context of an emerging economy. Specifically, we studied the Wuhan Donghu High-Tech Zone in China. We analyzed the incubation effect of science and technology enterprises, the interaction effect between innovation and entrepreneurship, the synergistic effect between science and technological innovation and system innovation, and the cluster effect and ecological effect. We conducted a system dynamics simulation to quantify the interaction of technological innovation, institutional innovation, technological entrepreneurship and entrepreneurial culture. Simulation results show that a joint action of several innovative subjects and factors promote the development and prosperity of a science park.
•Donghu High-Tech Zone shows significant interaction effect between innovation and entrepreneurship.•The incentive effect of policy on innovation in universities is weaker than that in enterprise within high-tech zone.•Intermediaries has the function to mitigate risks and accelerate the conversion of technology achievements in high-tech zone.•When three innovation inputs increase simultaneously, there exists output amplification effect in high-tech zone.•Innovation culture and innovation service in high-tech zone are important for emerging economy. |
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| AbstractList | Science park has been widely regarded as an effective mechanism to promote innovation and development of new ventures and industrial clusters in a region or country. With a variety of innovation factors such as venture capital and entrepreneurial talents injected into a science park, it demonstrates a positive effect on flowing and converting of knowledge in technological entrepreneurship for emerging economies. In this paper, we constructed an effect model of technological entrepreneurship of a science park in the context of an emerging economy. Specifically, we studied the Wuhan Donghu High-Tech Zone in China. We analyzed the incubation effect of science and technology enterprises, the interaction effect between innovation and entrepreneurship, the synergistic effect between science and technological innovation and system innovation, and the cluster effect and ecological effect. We conducted a system dynamics simulation to quantify the interaction of technological innovation, institutional innovation, technological entrepreneurship and entrepreneurial culture. Simulation results show that a joint action of several innovative subjects and factors promote the development and prosperity of a science park.
•Donghu High-Tech Zone shows significant interaction effect between innovation and entrepreneurship.•The incentive effect of policy on innovation in universities is weaker than that in enterprise within high-tech zone.•Intermediaries has the function to mitigate risks and accelerate the conversion of technology achievements in high-tech zone.•When three innovation inputs increase simultaneously, there exists output amplification effect in high-tech zone.•Innovation culture and innovation service in high-tech zone are important for emerging economy. Science park has been widely regarded as an effective mechanism to promote innovation and development of new ventures and industrial clusters in a region or country. With a variety of innovation factors such as venture capital and entrepreneurial talents injected into a science park, it demonstrates a positive effect on flowing and converting of knowledge in technological entrepreneurship for emerging economies. In this paper, we constructed an effect model of technological entrepreneurship of a science park in the context of an emerging economy. Specifically, we studied the Wuhan Donghu High-Tech Zone in China. We analyzed the incubation effect of science and technology enterprises, the interaction effect between innovation and entrepreneurship, the synergistic effect between science and technological innovation and system innovation, and the cluster effect and ecological effect. We conducted a system dynamics simulation to quantify the interaction of technological innovation, institutional innovation, technological entrepreneurship and entrepreneurial culture. Simulation results show that a joint action of several innovative subjects and factors promote the development and prosperity of a science park. |
| Audience | Academic |
| Author | Chen, Yun Xie, Kefan Hao, Jiahui Liu, Zimei Song, Yu Zhang, Weiyong |
| Author_xml | – sequence: 1 givenname: Kefan surname: Xie fullname: Xie, Kefan email: xkf@whut.edu.cn organization: School of Management, Wuhan University of Technology, Wuhan, Hubei 430070, PR China – sequence: 2 givenname: Yu surname: Song fullname: Song, Yu organization: School of Management, Wuhan University of Technology, Wuhan, Hubei 430070, PR China – sequence: 3 givenname: Weiyong surname: Zhang fullname: Zhang, Weiyong email: wyzhang@odu.edu organization: Department of Information Technology & Decision Sciences, Old Dominion University, Norfolk, VA 23529, USA – sequence: 4 givenname: Jiahui surname: Hao fullname: Hao, Jiahui organization: School of Management, Wuhan University of Technology, Wuhan, Hubei 430070, PR China – sequence: 5 givenname: Zimei surname: Liu fullname: Liu, Zimei organization: School of Management, Wuhan University of Technology, Wuhan, Hubei 430070, PR China – sequence: 6 givenname: Yun surname: Chen fullname: Chen, Yun email: chenyun135@126.com organization: School of Management, Wuhan University of Technology, Wuhan, Hubei 430070, PR China |
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| Keywords | System innovation Science park Cluster effect Technological entrepreneurship Science and technological innovation Ecological effect |
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| SubjectTerms | Analysis Business schools Case studies Cluster analysis Cluster effect Companies Computer simulation Ecological effect Ecological effects Emerging markets Entrepreneurs Entrepreneurship Environmental aspects Innovations Research parks Science Science and technological innovation Science and technology Science park Science parks Synergistic effect System dynamics System innovation Technological change Technological entrepreneurship Venture capital |
| Title | Technological entrepreneurship in science parks: A case study of Wuhan Donghu High-Tech Zone |
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