Science park

A science park (also called a "university research park", "technology park", "technopark", "technopolis", "technopole", or a "science and technology park" [STP]) is a property-based development that accommodates and fosters the growth of tenant firms and is affiliated with a university, government, or private research body based on proximity, ownership, and/or governance. This is so that knowledge can be shared, innovation promoted, technology transferred, and research outcomes progressed to viable commercial products. 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.

The world's first university research park, Stanford Research Park was launched in 1951 as a cooperative venture between Stanford University and the City of Palo Alto. Another early university research park was Research Triangle Park in North Carolina, which was launched in 1959. In 1969, Pierre Laffitte founded the Sophia Antipolis Science Park in France. 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.

Science parks are elements of the infrastructure of the global "knowledge economy". They provide concentration that foster innovation and the development and commercialization of technology and where governments, universities and private companies may collaborate. The developers work in fields such as information technology, pharmaceuticals, science and engineering. Science parks may also offer a number of shared resources, such as incubators, programs and collaboration activities, uninterruptible power supply, telecommunications hubs, reception and security, management offices, bank offices, convention center, parking, and internal transportation.

Science parks also aim to bring together people who assist the developers of technology to bring their work to commercial fruition, for example, experts in intellectual property law. They can be attractive to university students who may interact with prospective employers and encourage students to remain in the local area.

Science parks may be designed to enhance the quality of life of the workers. For example, they might be built with sports facilities, restaurants, crèches or pleasant outdoor areas. Apart from tenants, science parks create jobs for the local community.

Science parks are specific locations and differ from the wider area high-technology business districts in that they are more organized, planned, and managed. They differ from science centres in that they lead to commercialized products from research. They differ from industrial parks which focus on manufacturing and from business parks which focus on business office locations.

Science parks are found worldwide. They are most common in developed countries. In North America there are over 170 science parks.^{[citation needed]} For example, in the 1980s, North Carolina State University, Raleigh lacked space. New possible sites included the state mental-health property and the Diocese of Raleigh property on 1,000 acres (4.0 km²) surrounding the Lake Raleigh Reservoir. The university's Centennial Campus was developed. Sandia Science and Technology Park, NASA Research Park at Ames and the East Tennessee Technology Park at Oak Ridge National Laboratory are examples of research parks that have been developed by or adjacent to US Federal government laboratories.

Science and technology park (STP) activity across the European Union has approximately doubled over the last 11–12 years,^[when?] driven by the growth of the longer standing parks and the emergence of new parks. There are now^[when?] 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. In the period from 2000 – 2012, total capital investment into EU STPs was circa €11.7 billion (central estimate). During the same period, STPs spent circa €3 billion on the professional business support and innovation services they either deliver or finance to assist both their tenants and other similar knowledge based businesses in their locality.