Technological entrepreneurship in science parks: A case study of Wuhan Donghu High-Tech Zone

PurposeThe purpose of this paper is to empirically explore the mechanisms through which Chinese National Science Parks' (NSPs) services facilitate returnee entrepreneurs' (REs) acquisition of resources for their new ventures. Resource acquisition is crucial for new ventures, but it inevitably leads to significant costs increase. Although the NSPs offer various services to REs to reduce these costs, they still struggle to find the right mix of services.Design/methodology/approachFrom the transaction cost's perspective, an exploratory multiple-case study was conducted with data collected from six NSPs in China.FindingsThe results reveal that four types of NSP services (mentoring and training, social event, promotion of REs and accreditation of resource holders (RHs)) have both individual and joint effects on reducing REs' resource acquisition costs. Specifically, the “accreditation of RHs” service directly helps REs reduce search costs. The combination of “accreditation of RHs”, “promotion of REs” and “social event” services help REs and RHs to establish guanxi. Further, guanxi, working along with the “mentoring and training” service, helps REs to reduce contracting, monitoring and enforcement costs.Originality/valueThis study is among the first to explore the matching mechanisms between science parks’ services and entrepreneurs' cost reduction. This helps reconcile the inconsistent findings on science parks' effect by explaining why some NSPs are able to provide strong support to REs while others are less successful. In addition, the findings are useful for NSPs to develop the right mix of tailored services for REs. Finally, REs will find this study useful to evaluate which NSP is a more suitable location for their new ventures.

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“…In other words, the current studies have not yet clearly identified the types of services that REs demand (e.g. Xie et al, 2018).…”

Section: Science Parksmentioning

confidence: 89%

Reducing the resource acquisition costs for returnee entrepreneurs: role of Chinese national science parks

Xia

Xiong

Zhang

et al. 2020

IJEBR

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“…In published scientific research, this cluster analysis approach is exemplified by the following representative sample. K. Xie et al (2018) analysed the incubation of enterprises of science and technology, the effect of interaction between innovation and entrepreneurship, the synergistic effect between science and technological innovation and systemic innovations based on cluster analysis. It was cluster analysis that allowed E. Roszko-Wojtowicz and J. Bialek (2018) to form an objective statement of the subdivision of EU member states based on their innovative features.…”

Section: Features Of Cluster Analysis Of Economic Activitymentioning

confidence: 99%

Cluster Analysis of the Relationship Between Traditional and Innovation Economies

Buleev¹

2019

Montenegrin Journal of Economics

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innovation are developed) are characterised by positive innovation and economic development indicator values. It is also worth noting that this corresponds to the highest value of the "number of people with higher education" indicator. Along with the positive points, this cluster is also distinguished by negatives: the largest number of divorces per 1000 people and the lowest birth rates. The cluster analysis of traditional and innovative economies allows us to formulate the directions of development of economic systems for the formation of harmonious relations between traditional structures and innovative approaches to conducting economic activity.

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“…In 2015, the annual turnover of 145 national-level USPs was around 28.3 trillion RMB and overall Industrial Production value of 20.5 trillion. In the mid of 2017 the number of USPs has raised to 156 [6].…”

Section: Literature Review the Usps In China: Arrival And Risementioning

confidence: 99%

Analysis of the Functional Development & Progress of Beijing’s TusPark

Khan¹

2018

JSS

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University Science Parks in China were the outcome of commercialization of the Research and Development grants and the proximity of the Higher Education Institutions and enterprise's association. The Chinese government considers University Science Parks as a key ingredient in the nation's inventive system. The continuous success and achievements of the TusPark are no exception. Along with the government backing, TusPark exploits different efficient tactics to encourage Science and Technology marketization, inventive actions, and nation's economic development. However, TusPark also encounters various external and internal institutions; it has fetched its benefits into complete production and developed to the utmost prominent China's University Science Park. The evolution flight of TusPark is exceptional; however, its skills can aid towards the interpretation of the science parks within the progressive and further developing nations in the proliferation's framework. The functional development and progress and, various strengths and challenges of TusPark were reviewed in this paper.

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Technological entrepreneurship in science parks: A case study of Wuhan Donghu High-Tech Zone

Cited by 89 publications

References 87 publications

Reducing the resource acquisition costs for returnee entrepreneurs: role of Chinese national science parks

Reducing the resource acquisition costs for returnee entrepreneurs: role of Chinese national science parks

Cluster Analysis of the Relationship Between Traditional and Innovation Economies

Analysis of the Functional Development & Progress of Beijing’s TusPark

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Technological entrepreneurship in science parks: A case study of Wuhan Donghu High-Tech Zone

Cited by 89 publications

References 87 publications

Reducing the resource acquisition costs for returnee entrepreneurs: role of Chinese national science parks

Reducing the resource acquisition costs for returnee entrepreneurs: role of Chinese national science parks

Cluster Analysis of the Relationship Between Traditional and Innovation Economies

Analysis of the Functional Development &amp; Progress of Beijing’s TusPark

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Product

Resources

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Analysis of the Functional Development & Progress of Beijing’s TusPark