Driving regional advancement: Exploring the impact of science and technology parks in the outermost regions of Europe

Abstract

Purpose – Europe’s outermost regions are often geographically isolated, and they face challenges when it comes to fostering innovation. This study aims to evaluate the impact of Science and Technology Parks (STPs) on the stimulation of innovation performance and the regional development of innovation in the outermost European regions. This study contributes to the development and interpretation of STP literature, which is especially relevant for policymakers operating within these regions. Design/methodology/approach – We collected the data from six Regional Innovation Scoreboard reports (RIS, 2012; RIS, 2014; RIS, 2016; RIS, 2017; RIS, 2019; and RIS 2021), available at https://ec.europa.eu, for the following outermost regions of Europe: the Autonomous Regions of Azores and Madeira (Portugal), the Canary Islands (Spain) and the Outermost Regions of France, which encompass Martinique, Mayotte, Guadeloupe, French Guiana, Saint-Martin and Reunion Island. Findings – The results demonstrate that, for STPs to positively impact regional policies for innovation and regional development, policymakers must make significant investments into research and development (R&D). The outermost European regions display characteristics that negatively affect innovation performance and regional development. Furthermore, we found that innovative products and services are negatively affected by these regions, as they deploy only a limited number of resources. We also conclude that the impact of STPs on the outermost European regions depends on the policies of regional governments. STPs represent important inputs to formulating and implementing innovation strategies for regional development. Research limitations/implications – This study has some limitations. This research only analyses the European Union’s (EU’s) outermost regions, and we have only included data extracted from the Regional Innovation Scoreboard from 2007 to 2021. Disaggregated data for the five outermost regions in France was not available. This would have increased the sample and made the results even more robust, had the information been available. Practical implications – The results propose that regional actors in the outermost regions (industry–government–academia) better articulate their resources (which are more scarce) and their priorities with regard to Science, Technology and Innovation, thus accelerating innovation and development of their regions. Originality/value – In this panel data study, we adopt a methodology that enables the evaluation of STP performance under different levels of intensity of gross domestic expenditure on research and development activities in the context of the RIS. In this study, the RIS refers to the peripheral regions of the EU. This study therefore aims to evaluate the impact of STPs in stimulating innovation performance and regional development in the outermost regions of Europe.