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    EVALUATING TECHNOLOGY BUSINESS INCUBATOR AS A TOOL OF GOVERNMENT INTERVENTION: PUBLIC VS PRIVATE

    By

    YONGSEOK JANG

    A DISSERTATION PRESENTED TO THE GRADUATE SCHOOL OF THE UNIVERSITY OF FLORIDA IN PARTIAL FULFILLMENT

    OF THE REQUIREMENTS FOR THE DEGREE OF DOCTOR OF PHILOSOPHY

    UNIVERSITY OF FLORIDA

    2009

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    © 2009 Yongseok Jang

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    ACKNOWLEDGMENTS

    There are many people who have helped me through the process of completing this work.

    First, I would like to thank my advisor, Chris Silver, for all of the help, support, and

    encouragement he offered for to me. I also thank the members of my committee, Joseli Macedo,

    Ann Williamson, and Grant Thrall, for their mental support and considerate academic guidance.

    Their insight and guidance allowed me to create a product that is much larger and more in depth

    than I had originally anticipated. Whatever contribution this work makes to the understanding of

    the subject is largely due to this guidance. I could not forgive myself if I forget to express my

    special gratitude to Cameron Ford, a founding director of Director of the University of Central

    Florida Center for Entrepreneurship and Innovation for offering every possible resource and

    assistance to me to access and utilize the NETS database. I also thank the Lowe Foundation that

    permitted my use of the NETS database a contribution that was critical and essential to the bulk

    of my research. I also acknowledge and thank the incubator managers for their sincere and

    honest response that upgrade my research’s qualitative completeness.

    I owe much of my achievement to my wife, Junglim. I deeply appreciate her constant

    support and endless patience. Five years of doctoral work and another three years before that

    here at the University would have been impossible if Junglim was not there. Not only did she

    come with me to a foreign country, but she did this with magnanimous goodwill. Grace and

    Timothy, my children, I thank you for loving and trusting your father. Finally, I send a special

    thanks to my parents who willing gave their constant love and never lost their trust of me

    regardless of what struggle I was fighting. Thanks to all of my family for this lifetime

    achievement. It is theirs, not mine.

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    TABLE OF CONTENTS

    page

    ACKNOWLEDGMENTS ...............................................................................................................3 

    LIST OF TABLES ...........................................................................................................................8 

    LIST OF FIGURES .......................................................................................................................11 

    ABSTRACT ...................................................................................................................................14

    CHAPTER

    1 INTRODUCTION ..................................................................................................................16 

    Background .............................................................................................................................16  Technology Business Incubator ......................................................................................16  Snapshot of Business Incubator of the US ......................................................................16  Issues of TBI as an Economic Development Program ....................................................17  Direction of This Study ...................................................................................................18 

    TBI as a Tool of Government Intervention: Market Failure Approach ..................................19  High Mortality Rate of High-Tech Startups ....................................................................19  Origins of TBIs ................................................................................................................20  General Roles of TBI .......................................................................................................22  A Tool of Technology-Based Economic Development (TED) .......................................22 

    Evaluating TBI in Policy Context ...........................................................................................24  Levels of Policy ...............................................................................................................24  Evaluation Study in Policy Context ................................................................................24  Problems of TBI Evaluation in Policy Context ...............................................................26  Legitimacy of Government Intervention .........................................................................27  Public Intervention in Technology Policy .......................................................................29  Criticism on the Public TBIs ...........................................................................................31 

    Conclusion and Summary .......................................................................................................32 

    2 LITERATURE REVIEW .......................................................................................................35 

    Introduction .............................................................................................................................35  Taxonomies of TBIs by Sponsorship .....................................................................................36  Effectiveness of Technology Business Incubators .................................................................40  Discussion ...............................................................................................................................51 

    3 RESEARCH APPROACH .....................................................................................................53 

    Research Framework ..............................................................................................................53  Research Question: How are They Different? .................................................................53  Focuses of Cost-Reduction Strategy ...............................................................................55 

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    Focuses on the Intervention Mechanism .........................................................................57  Focuses on Surrounding Resources .................................................................................59  Conceptual Framework ...................................................................................................61  Taxonomy of Incubators ..................................................................................................63 

    Hypotheses ..............................................................................................................................64  How the Cases were Selected .................................................................................................64  Methodologies: Case studies and Group Comparisons ..........................................................65 

    4 CASE STUDIES .....................................................................................................................71 

    Introduction .............................................................................................................................71  Public Incubator ......................................................................................................................72 

    Regional Information .......................................................................................................72  Incubator Characteristics .................................................................................................73  Overview .........................................................................................................................73  Establishment ..................................................................................................................73  Motivation .......................................................................................................................74  Goals and Objectives .......................................................................................................74  Advantage of Moving to the Research Park ....................................................................74  Business Model ...............................................................................................................75  Selection of Clients ..........................................................................................................77  Monitoring Characteristics ..............................................................................................77  Source of Knowledge and Talent ....................................................................................79 

    Private Incubator .....................................................................................................................80  Regional Information .......................................................................................................80  Incubator Characteristics .................................................................................................

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