Identification of Key Success Factors for Private Science Parks Established from Brownfield Regeneration: A Case Study from China.

Private science parks (PSPs) are infrastructure elements of national high technology industrial development zones. Increasing private capital is being invested in this field to transform abandoned factories into science parks through brownfield regeneration, which not only effectively utilizes urban space, but also greatly strengthens the power of scientific and technological innovation. The evolution of these PSPs, however, is not satisfactory, and some operation and innovation-related problems often lead to their failures. Therefore, identifying key success factors is crucial for the sustainable growth of PSPs. This study employs Fuzzy Analytic hierarchy process (FAHP) and Fuzzy-DEMATEL (Decision Making Trial and Evaluation Laboratory) methods to construct an identification model for key success factors of PSPs established from brownfield regeneration. Associated influencing factors were collected through literature analysis, on-site interviews, and questionnaire, based on which key success factors were identified. The results of the study showed that five factors-resources sharing capacity of the park, park scale, financing and financial services, legal policy services and administrative capability, and construction level of facilities in the park-are the key success factors for such PSPs. The results also provide a theoretical basis for the development of PSPs established from brownfield regeneration, and support the formulation of PSP-related policies.