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3.2.1. Science parks

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The creation of the first science park took place in Silicon Valley (originally known as Stanford University Science Park) in the early 1950s.76 The International Association of Science Parks and Areas of Innovation (IASP) defines science park as “an organisation managed by specialised professionals, whose main aim is to increase the wealth of its community by promoting the culture of innovation and the competitiveness of its associated businesses and knowledge-based institutions”.77

Therefore, the science park is regarded as a business incubator with infrastructures and tools for the business development.

Universities may create science parks, being the objective to bring together research centres, companies and institutions within the same area.78 For instance, the Autonoma University of Madrid (Spain) has set-up the Madrid Science Park (PCM) in the north of the Madrid Region (which is one of the most active regions of Spain in R&D) with the purpose to “transform the scientific knowledge and the capacity for technological development of the region’s agents into sustainable progress for the benefit of society”.79 In particular, more than 90 companies are currently developing their innovative projects within the PCM.80

In this regard, the knowledge transfer is favoured by the fact that PROs and firms are interacting and cooperating within the same physical space, i.e. a meeting point for science and business. As Hernández Peña points out, science parks stimulate not only research and the research results but also the transfer of knowledge and technology; and, they contribute to improve the competitiveness of the business enterprise sector.81

The IP Box Regime. A Study from an International and European Perspective

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