Cluster-based performance measurement system for emerging technology-based ventures
by Artie W. Ng; W.M. Wang; Benny C.F. Cheung; Ricky Ma; Y.Y. Or
International Journal of Entrepreneurship and Innovation Management (IJEIM), Vol. 21, No. 6, 2017

Abstract: Performance assessment of technology-based ventures requires consideration of the nature of their businesses and the dynamics of their emerging industries. This paper explores the development of a cluster-based and quantitative measurement system for science and technology parks to evaluate the performance of technology-based ventures. The proposed method incorporates technique for order preference by similarity to ideal solution (TOPSIS) and weight allocation. It ranks the technology-based ventures in different technological clusters, based on a range of indicators pertinent to productivity, research and development (R&D) effort, R&D personnel percentage, time to market and financial performance. This method has been implemented through a trial study conducted within the Hong Kong Science and Technology Parks Corporation. The results indicate that R&D spending has a strong impact on a company's performance ranking. The performance of technology-based ventures should be measured with respect to their R&D investments and their pertinent efforts to commercialise products.

Online publication date: Tue, 03-Oct-2017

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