For today’s businesses, it is crucial to work together on innovation with other firms and organisations. Technology has become so specialised that no one can afford to do everything on their own. Co-creation and co-development with partner firms, institutions and universities are essential for being successful. Most new, successful products are the result of collaborative work between engineers, marketing experts, designers and often colleagues and academics as well. The benefits are lower costs, faster time to market and higher return on investment.
In this era of technology and innovation, science and technology parks are growing in number at an increasing pace since the first one was created in the 1950s. Less well known is the development which involves medium-sized and large innovative firms establishing their own ‘science park’. We call this an industrial innovation campus.
Studying major urban developments worldwide, we find that successful projects have a clear and convincing concept in common. A concept strong enough to guide the planning and building process and attractive enough to tempt the market to invest. The question is how to generate such a concept. A second question concerns the role of market studies in this concept generation.
Our studies show that some major projects suffer from delays and lack of sales and even bankruptcy due to the lack of a concept for the envisaged urban development plan. Mistakes we found included:
absence of any concept, based on the idea that real estate will always sell;
lack of ambition: too much reliance on strategies from the past (“it worked before”);
no idea about the preferences of the demand side, no awareness of the competition;
a too rigid mono functional concept resulting in a ‘Blue Print’ plan;
a concept consisting of marketing slogans, which are expected to tempt investors;
failing relations (economic, social, transportation) with the surrounding built environment.