Growth, management and financing of new technology-based firms--assessing value-added contributions of firms located on and off Science Parks

This study distinguishes between new technology-based firms (NTBFs) on and off Science Parks in Sweden in an effort to identify any element of added value which the park provides for the NTBFs (273 firms). The paper reports the responses of NTBFs (on and off-Park) about the types of management problems encountered and the constraints inhibiting their growth (89 variables). This study showed some differences between the experience of firms on-Park and off-Park with respect to management and financial issues (Founders, management, advisers, investors and finance). The problem of obtaining finance is one of the major difficulties faced by all NTBFs. Self-financing is the dominant characteristic of funding in the small-firms sector. It is obvious that Science Parks firms have higher R&D intensity in terms of importance of R&D for a starting firm and postgraduate education.