Accelerating client growth - the strategic route to STP sustainability and regional economic development

Many maturing Science Parks in developed economies are finding they face increasing competition from business parks. The case study presented shows how in the face of fierce competition one Science and Technology Park (STP) has used its natural advantage of working with its tenant businesses, most of whom are actively innovating to secure growth objectives. In this case the Park identified shortcomings in the regional provision of high level business support for its start up and SME clients and consequently developed a range of professional business support services of its own. A significant consequence has been accelerated business growth amongst its client base leading to these businesses becoming the major source of demand for the Park‟s profitable „grow-on‟ space. In turn, this has ensured profitable growth and a strong balance sheet for the Park while allowing the Park to differentiate itself from the many nearby high quality business parks.