Science park

A science park (also called a "university research park", "technology park”, "technopark", "technopolis", “technopole", or a "science and technology park" [STP]) is defined as being a property-based development that accommodates and fosters the growth of tenant firms and that is affiliated with a university (or a government and private research bodies) 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 locations 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.