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Entrepreneurship Development in a Science Park

Tiruchirappalli Regional Engineering College--Science and Technology Entrepreneurs Park (TREC-STEP), one of the first Science Parks in India commenced its operation in the year 1986 and came into full swing with all facilities by 1989. The main objective of the Science Park is entrepreneurship development in hi-tech areas and related industrial development activities. TR EC-STEP provides incubational support to its EDP trained candidates. The support includes software services such as assistance in project report preparation, technical guidance through RECT faculty, management guidance and consultancy. The hardware utilities include nursery sheds, library and communication facilities, central workshop with common facilities, computer assistance reprography, etc. Aim of the paper The focus of this paper is to analyse the performance of the Science Park in the area of entrepreneurship development. Though. entrepreneurship development is not the only activity in science parks, nevertheless it is their major activity. The synergies developed in a Science Park atmosphere accelerate the process of entrepreneurship development not only in quantitative but also in qualitative terms. For the purpose of performance evaluation quantitative measures may include the success rate, i.e., number of entrepreneurs generated to number of science and technology (S & T) graduates trained, (It is to be noted that STEP Entrepreneur Development Programme selects only S & T graduates as its target groups), project costs, number of persons employed, financial benefits accrued to the government agencies, etc. Qualitative measuresinclude degree of innovation in technology park, educational level and training imparted to employees, strategies, policy and operational management style of the ventures and interaction with the institution. Aim and scope of the study TREC-STEP so far has conducted 10 EDPs and trained nearly 228 S & T graduates in these programmes. The 10th EDP is excluded from the scope of this study since normally a period of six months is required to realise the ventures. From among the rest of 203 trained candidates of the preceding nine EDPs, so far 67 have opted for an entrepreneurial career. In two of the cases, two EDP trainees have jointly promoted their ventures. Thus, the total number of entrepreneurial ventures is 65. Out