Technological entrepreneurship in science parks: A case study of Wuhan Donghu High-Tech Zone

Science park has been widely regarded as an effective mechanism to promote innovation and development of new ventures and industrial clusters in a region or country. With a variety of innovation factors such as venture capital and entrepreneurial talents injected into a science park, it demonstrates a positive effect on flowing and converting of knowledge in technological entrepreneurship for emerging economies. In this paper, we constructed an effect model of technological entrepreneurship of a science park in the context of an emerging economy. Specifically, we studied the Wuhan Donghu High-Tech Zone in China. We analyzed the incubation effect of science and technology enterprises, the interaction effect between innovation and entrepreneurship, the synergistic effect between science and technological innovation and system innovation, and the cluster effect and ecological effect. We conducted a system dynamics simulation to quantify the interaction of technological innovation, institutional innovation, technological entrepreneurship and entrepreneurial culture. Simulation results show that a joint action of several innovative subjects and factors promote the development and prosperity of a science park.