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Science parks spur innovation by clustering technology-based businesses near research organizations and university-affiliated institutions. Grouping these various entities together in a single location spurs innovation by providing them easy access to each other’s unique technical expertise. In addition, Science Parks often have state-of-the-art equipment and facilities available for its tenants’ use.
An analysis of the impact that Italian Science Parks had on innovation from 2004 to 2012 found that the average technology-based Italian businesses located in a science park cluster produced 5 additional patents when compared to a similar business not located in a science park.