Science Parks have a critical role to play in the UK commercial offer to the world. They provide an ideal environment to nurture and help the growth of highly innovative companies. The UK Science Park movement in its many different guises and structures has a global reputation with a key position in the UK innovation ecosystem, which by several measures of impact is the best in the world. There are many factors to a great Science Park, including international linkages, which are explored below.
Science Parks provide a hard, and critically soft, infrastructure that provides a supportive and elitist approach to develop innovative industry. The Science Park movement in the UK encompasses over 70 different places each with their own unique offering from geographical to sector focussed. With a focus on simplicity these are the major items for success, in order of importance:-
a) Ambition and resources.
b) Leadership with an individual vision and a supportive senior group.
c) Links to research base such as Research Council assets, Universities and R&D intensive industry.
d) Peer spaces such as coffee shops, cafés and networking opportunities.
e) Supporting soft infrastructure e.g. lawyers, IP professionals, finance advisor and providers, not to forget mentor and business advisory services.
f) Sector focus.
g) The physical space - a small, but critical, part of the whole. However a shiny new building with a marble foyer, glass atrium and a rigid hierarchy is the worst place for organic growth
Separately there is the mindset required of a nurturing but competitive environment. A science Park does not happen by accident and getting all partners to agree a strategic approach is essential. It is amazing how often strategy is diverted by undue focus on difficult detail. Tenants need to see tough love, as we all know 80% of effort is expended on helping also ran’s survive. If at first they don't succeed move them out! Remember Science Parks are not incubators which are an early stage supportive environment. At the other end as a company becomes successful the ambition should be to help them grow beyond into Business Parks and dedicated facilities, perhaps with the adventurous R&D side retaining a presence in the Science Park.
International Agenda
The two areas to be addressed are
1) Helping existing companies looking to trade globally
2) Providing overseas companies with a landing zone to grow their businesses in the UK, and international partnerships where Science Parks provide a neutral supportive environment.
The UK government provides guidance through the UKTI, Business Links and Regional Development Agencies/Devolved Assemblies (RDA/DA) and of course there are consultancies that provide strategic and direct advice, eg my firm Yew Tree Associates.
International Trading Opportunities
Tenants looking to trade overseas need international awareness, capability and knowledge of markets. The UKTI structure provides this as one of the most effective national trade agencies in the world with a principle aim to help companies into international markets.
The first port of call in England is the International Trade Advisers, currently to be found in 9 regional groups. Several Science Parks already have dedicated ITAs and the attention of the International Trade Directors but if there is currently no contact the UKTI website provides the relevant link. Former UKTI colleagues are focussed on targets and helping companies through a tool called Passport for Export so make sure they understand how you, your tenants and your partners provide access to innovative companies. Wales, Scotland and NI have their own similar public agencies.
Local UKTI also link to national Sector Groups, and Marketing group who run events in the UK and overseas. Eg “Technology World in Partnership with UK Nanoforum”; a project managed by my old team with some 150 exhibitors, 2000 attendees and over 50 Countries attending.
UKTI Sector Groups also employ specialists to support companies overseas in markets from Europe to the US, and everywhere else as well. Other specialists include ones for High Growth Market, and Global Supply Chain covering areas such as China and India.
Importantly local UKTI teams provide access route to UKTI people based in Embassies and Consulates overseas. These are dedicated Embassy staff that through a heavily subsidised mechanism called Overseas Market Information System (OMIS) provide market reports, receptions overseas, key introductions in market and other possibilities limited only by resources and imagination. PS I can recommend Gert Wauters in Belgium as one of the best Trade Officers in panoply of talent!
Inward Investment and Collaborative Opportunities
Attracting inward investors into UK Science Parks we can distinguish small companies moving too, or developing in the UK, Medium size companies expanding into the UK and large companies setting up outposts or small divisions in Science Parks. Entirely separate is the large company wanting a substantial part of the Science Park dedicated to their interests, something to be cautious about which requires a lot of thought and planning.
Currently Inward Investment is supported by RDA/DA teams. The RDA inward investment work is being integrated into UKTI as the RDAs reduce their organisations. Detailed plans will be released by UKTI in spring 2011. In the devolved Assemblies Inward Investment is led by local agencies.
UKTI has central Sector teams for Inward Investment and dedicated Inward Investment staff in overseas UKTI posts e.g. in New York, Tokyo and Madrid. There are also Inward Investment specialists in UKTI HQ to support possible inward investors to understand the various parts of the UK offering. This includes planning, tax and skills specialists as well as sector and country specialists. UKTI also provides a coordination role with RDA/DA teams to en sure that the UK offer is coherent and clear.
Science Parks provide an important part of the UK offer with their hard and soft infrastructure and supply chain offerings which provide a soft landing for overseas investors. The opportunities around partnerships with UK companies in Science Parks also provide access to the virtual world of collaborations and Open Innovation possibilities.
To be successful the specific capabilities and interests of Science parks and their tenants needs to be communicated to local and subsequently national inward investment teams. Given the complexity of Science Parks a UKSPA led approach is worth considering.
Science Parks in the UK are moving from Mainly Public Sector support to a mixed model with private industry dealing with the high value offerings of Science Parks as investments. To promote success in a world of declining public sector support an efficient and coherent approach is essential and I urge Science Parks and their tenants to embrace the opportunities, especially for international possibilities.
