The UK Government’s ambition is for the UK to become Europe’s leading ‘knowledge economy’ by 2011. As the market matures, there is increasing recognition that science park developments can no longer be regarded as ‘opportunistic real estate developments’. National trends indicate that in order to deliver maximum economic benefits science parks must become key service providers in a wider value-chain serving knowledge economy enterprise. Trends include:
- Aggregated branding and ‘science city’ initiatives
- Science parks delivered as strategic partnerships between universities, development agencies, local and city councils and private developers
- Public sector investment mitigates private investment risk and ‘pump-primes’ science park development
- Increased value of science parks and other knowledge economy initiatives through creation of communities of excellence