Global Entrepreneurship Institute

Questioning Impact of Governmental Investments in Large Research Parks: These Parks Should Measure Impact On Entrepreneurial Capitalism

By: Robert W. Price 

Today I am sharing with you some well researched and well prepared articles from BusinessWeek one of our community partners in educating entrepreneurs around the world.

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>>Research Parks for the Knowledge Economy 
Nations are constructing lavish science parks, often with big city amenities, to gain a competitive edge in the global economy.

“every city and state with a university wants to jump on this bandwagon.”

>>A Mexican Technology Park in Monterrey

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My comments:
This trend towards the large industrial policy science parks will most likely increase as the global economy softens even more, and governmental agencies look for relief by “jumping on this bandwagon.”

Unfortunately, many of these parks have a misguided system of “performance metrics” in place reporting and measuring “jobs” only. Great for industrial policy speeches by governmental officials at press parties and at annual trade conferences!

But this industrial policy for the “new normal” economy can’t be labeled, or misconstrued, anything closely related to “entrepreneurial activity” as many of these science parks and politicians are doing. True entrepreneurial capitalism is private capital, investing in private start-ups, with potential for a viable harvest.

So, a better performance metric for measuring the true entrepreneurial impact on the local community would be measuring successful exits/harvests. The local entrepreneurs successfully complete the entrepreneurial life cycle to harvest, and then plow back into the local economy their knowledge, strategic leadership, and of course money!

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Dream It! Plan It! Do It!
Robert W. Price
Executive Director
Global Entrepreneurship Institute
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