Abstract:

This paper examines the evolving role of Science and Technology Parks (STPs) within smart and sustainable innovation ecosystems over the period from 2015 to 2024. Drawing on a longitudinal comparative analysis of the IASP Global Survey reports, the study identifies a systemic transformation in the identity, functions, and strategic positioning of STPs. The findings demonstrate that these organisations have shifted from infrastructure-based entities focussed on technology transfer towards knowledge-driven institutions acting as orchestrators of complex innovation ecosystems.

The study adopts a qualitative comparative approach based on thematic coding across several dimensions. The results reveal substantial changes in governance structures, including the increasing adoption of hybrid and partnership-based models, alongside a strong trend towards urban integration and global connectivity. STPs have significantly expanded aligning with the principles of the Quintuple Helix framework by integrating societal and environmental dimensions into their strategic activities.

The paper contributes to the literature by shifting the conceptualisation of STPs from intermediary entities to knowledge-based organisations that actively orchestrate innovation ecosystems.

The findings carry important implications for both policymakers and practitioners. They highlight the need to prioritise capability development, ecosystem coordination, and the integration of sustainability principles, alongside the adoption of advanced performance measurement systems capable of capturing the complexity of network-based outputs and outcomes. Overall, the study demonstrates that Science and Technology Parks play a critical role in shaping resilient, globally connected, and sustainability-oriented innovation ecosystems.