Technology parks/incubation development in Pakistan: The way forward: six-step model

Technology Parks are proving to be an important source of converting ideas into commercial products / services thus making significant economic and technological contributions to several nations across the globe. Since technology parks find their roots in the entrepreneurial, social, economic and governmental infrastructure and priorities, their "design" and implementation must be tailored to specific needs of a nation.
For development of these parks, based on NUST TIC's own experience, international benchmarking, and dialog with experts in this field, following six-step model is proposed: Benchmark the best of the best! Lessons from successful economies have shown that technology parks are not implemented for gains in the short run. Therefore, any policy framework will need to aim at long-term self-sufficiency stressing this is more realistic over a 10-year period and will not occur in 3 to 4 years.
Build an "incubation friendly" network through awareness meetings with key stake-holders to truly disseminate the spirit of incubation/tech. parks, what will it take to make it a reality, and benefits to the country's development. Tech.
Parks should be a major source of innovative technologies! However, they are not principals in innovation, principals are the resident companies. Devise a policy/plan to support / implement tech. parks/incubators in selected universities on a pilot basis. Engage local and foreign experts (eg World Bank's Infodev. Program and other Muslim / friendly countries having successful programs such as Malaysia, Iran, China, etc) for development of an over-arching policy frame-work at the national level.
NUST TIC has already networked with key international experts who are willing to participate in our efforts. This policy framework will encompass the following (not an all inclusive list by any means):
A. Role of Tech Parks/Incubation in a broader framework for economic development identifying industrial sectors as key focus areas to be highlighted in Tech. Parks / Incubators.
B. Define selection criteria for tech. park location, perform feasibility studies, needs assessment, preparing business plans followed by related training for setting up incubators and technology parks.
C. University role and responsibilities ensuring that the tech. parks / incubators are not bogged down in academic procedures and attitudes and can operate as businesses in their own right.
D. Preferential policies and funding mechanisms both for incubator and client firms. Good government funding for incubators-both capital and operational cost.
E. The need for govt. sponsored seed funding and innovation funding for client (resident companies) projects that are unattractive for commercial capital but have good market potential.
F. Preferential policies (taxes, protection from red tape, incubation friendly registration processes and import structure, relocation to industrial estates, etc Provision of guarantees for attracting commercial capital.
G. Flexibility to use university R&D funds for sponsoring client company projects. Good infrastructure; not only physical but establishing a wide pipeline of potential clients. This aspect is essential for success of the initiative. For this purpose, following must be considered:
Universities and other R&D organisations, through implementation of favouring / sponsoring / rewarding policy guidelines, should promote entrepreneurship amongst faculty and students.
H. Potential entrepreneurs from general public should be tempted to start their tech. based businesses by wide dissemination of preferential policies. For this purpose, organisations promoting SME development should be brought into an established network.
I. Inculcate a cultural shift to transform a pre-dominantly civil society to entrepreneurial society. This may be in the form of tiered incubation starting at school level by offering entrepreneurship awareness / competitions and strengthening it through college / university education.
Preferential policies for big firms, such as tax benefits to partially compensate for research expenses, to move into technology parks. These big firms will act as a solid financial base for the commercially operated science parks.
J. Where possible, use independent public private partnership governance structures typically non-profit organisations linked with universities but also with the private and finances sectors. Attract overseas Pakistani students for starting their own companies in the incubation centres.
Form collaborative mechanisms to attract international companies into the technology parks and pave way for local companies to get international exposure/market inroads. Incorporate the role of existing national research centres to support Tech. Parks development.
Built-in monitoring parameters for the development and subsequent operations of the parks/incubators. The need for professional management that is dedicated, well funded, and trained in incubation through a standard curriculum. Provide for development of local asset management companies to facilitate legal and land lease procedures.
Networking support provided to the incubation/tech. parks community eg funding an incubation/tech. park association. Once the policies on incubation/tech. parks are in place, put the carefully selected pilot incubation centres and tech. parks into action. Here a two track strategy may be in order where universities gain experience by establishing entrepreneurship/incubation first and then move onto technology parks.
Get the multi-nationals firms to establish their R&D wings at the Tech. Parks to support "round-about" transfer of technology; faculty / students / young minds engaging in applied research of these companies, learning the ropes, and then starting their own incubation companies for promotion of indigenous development of technology! Also, get the big local firms to the Tech. Park for healthy promotion of university-industry interaction by development of commercial scale R&D to benefit local university and industry.
Monitor progress against pre-defined monitoring parameters at scheduled time intervals to adjudge goals are being met and make necessary adjustments, if needed. Apply learning from pilot projects(s) to a full-blown implementation of tech. parks / incubation centres in "qualifying" universities / locations.