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Route 128, Boston
A concentration of technology companies, labs and universities located along Route 128 was the prototype for the advanced-technology cluster. Initially reliant on military contracts, the cluster’s focus expanded to include wireless communications, robotics and computer game technologies, increasingly drawing on the intellectual resources of prominent local universities. A public-private partnership beefs up core specialties and makes them a magnet for innovative ventures.
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Silicon Valley, Palo Alto, California
In Silicon Valley’s early years as a business cluster, the U.S. government played an essential role in sustaining and accelerating the growth of pioneering technology firms. Silicon Valley became the epitome of entrepreneurial fever later. With Stanford University at its hub, Silicon Valley has fostered strong relationships among venture capital funds, research organizations and innovative startups. Growing in technology and business sophistication, the cluster has become a network of continuous innovation.
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Research Triangle Park, North Carolina
The Research Triangle Park is located in close proximity to three major universities near the cities of Durham, Raleigh and Chapel Hill in North Carolina. Created in 1959 by state and local governments, the universities and local business interests, Research Triangle houses more than 130 labs and 157 firms. Since 1970, it has launched more than 1,500 startups and spin-offs. A nonprofit group that manages it offers flexible space arrangements and networking programs to draw new generations of entrepreneurs.
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Biopolis, Singapore
The large, high-tech biomedical complex, which has been trying to redefine the rules of innovation for biomedical sciences and technology, gets active support from the government. State-of-the-art labs and amenities in close proximity to universities have attracted top world researchers, companies and venture funds. Built in stages, Biopolis also has experimented with new concepts for a science park/business incubator.
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Yozma Fund, Israel
The $100 million Yozma Venture Capital Fund, established by the Israeli government in 1992, wooed experienced, foreign venture capitalists. It offered them matching funds, a familiar legal structure and simplified administration. The government also created six “incubators” designed to leverage the strengths of scientists and engineers who had just arrived from Russia. Ten years later, the Yozma groups managed $3 billion, and 24 incubators nourished mostly science-related ventures.
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Dubai Internet City, Dubai
Dubai built a high-class computer network to launch the program in 2000. The government extended to the world’s leading software and Internet companies an offer that included a three-day incorporation process, long-term leases and tax-free corporate earnings. It topped the offer with multiple opportunities for knowledge-sharing and networking. The entity quickly became a regional hub for major firms and a draw for high-tech startups.
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Bangalore, India
The high-tech cluster has grown around state-owned technology firms and research centers. In 1992, the establishment of a satellite station by the government made it possible for local engineers to connect quickly with the rest of the world. This combined with low-cost workers trained by local colleges and universities has given rise to call centers and software outfits responding to outsourcing demand from the United States and other countries.
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New Zealand Venture Investment Fund, New Zealand
In 2002, to create a venture capital industry, the government established NZVIF, a stand-alone company that co-invests into privately managed venture funds. Later, a new NZVIF unit began matching investment from angel investors to fund high-growth-potential firms. NZVIF managers have responsibility for managing investment without government interference. The fund has invested around $70 million, matching $300 million of private investment.
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Digital Media City, Seoul, South Korea
DMC, a municipal development project, may be the first of a new generation of research parks. It aims to build a commercial, urban axis by integrating prominent businesses and innovative startups with research, education, entertainment and arts groups. They will have an opportunity to test and refine new technologies in a living urban environment, in which borders between public and private spaces are blurred.
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netWork Oasis/Joensuu Science Park, Finland
Opened in 2006, netWork Oasis is an experimental, collaborative environment. It aims to enable chance encounters that produce innovation. This new science park/incubator model is based on collaborative virtual communities and their ability to attract talent that can produce unexpected results. Customers pay not for rented space but for the time intervals that they use facilities and amenities. A separate firm tries to popularize the model worldwide.
