PHILADELPHIA, Sept. 27, 2013 /PRNewswire/ -- University research parks are a successful way to advance innovation and create economic growth in regions across North America, according to a new report, "Driving Regional Innovation and Growth," prepared by Battelle's Technology Partnership Practice (TPP) in partnership with the Association of University Research Parks (AURP). Further, university research parks are an effective way to create new employment opportunities for existing technology companies, according to the report.
Highlights of the report, based on a survey of North American university research parks, reveal:
- The creation of an environment that encourages innovation and entrepreneurship is the top priority of university research parks
- Innovation-driving services are offered by nearly all university research parks
- In the last five years, 963 new businesses have graduated from the responding research parks' incubators or related startup space. Only 19 percent of these startup companies were no longer in business, compared to the national statistic of over 50 percent.
- Average job gains for research parks over the period 2007 to 2012 were 27 percent, well outperforming the economy overall (as based on 85 university research parks who responded to a similar survey back in 2007).
"University research parks are an important element of the innovation ecosystem because today's global economy is still a very local phenomenon," said Eileen Walker, MIM/MBA, Chief Executive Officer, AURP. "The more globally integrated the world economy becomes, the more local research and development know-how, entrepreneurial culture, workforce skills and manufacturing competencies matter for economic success in a particular region."
"University research parks are creating the nexus in which industry clusters thrive," said Mitch Horowitz, Vice President and Managing Director, Battelle's Technology Partnership Practice. "Companies from the same industries, who are neighbors within research parks, benefit greatly from being in these beneficial environments."
A full copy of "Driving Regional Innovation and Growth" can be found at http://www.battelle.org and http://www.aurp.net. Sponsors of the report include and The University Financing Foundation and The University City Science Center.
Every day, the people of Battelle apply science and technology to solving what matters most. At major technology centers and national laboratories around the world, Battelle conducts research and development, designs and manufactures products, and delivers critical services for government and commercial customers. Headquartered in Columbus, Ohio since its founding in 1929, Battelle serves the national security, health and life sciences, and energy and environmental industries. For more information, visit www.battelle.org.
The Association of University Research Parks is a professional association of university related research and science parks. AURP's mission is to foster innovation, commercialization and economic growth through university, industry and government partnerships. For more information, visit AURP's Web site at www.aurp.net.
SOURCE Association of University Research Parks