Is There a Future for Science Parks?

Science Progress (8/19, Townsend) – Revolutions in economics, ecology and knowledge systems will alter the business model of today’s science parks. The basic science park model of using low-cost land as a lure and lens for technology companies is showing signs of aging…And newer variants of the science park model, such as technology incubators, are starved for funds as the venture capital industry retreats to safer bets on late-stage start-up companies with identifiable exit strategies…In the United States, federal, state and local governments are attempting to plug gaps into a deeply strained national innovation system.

The Research Triangle Foundation and Institute for the Future developed three scenarios of what the big picture for science parks might look like in the “Future Knowledge Systems” report that illustrate how these uncertainties might lead to different outcomes from (1) science parks as living labs, to (2) new virtual collaborative models, and (3) dematerializing innovation.