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Cluster-based performance measurement system for emerging technology-based ventures

Author

Listed:
  • Artie W. Ng
  • W.M. Wang
  • Benny C.F. Cheung
  • Ricky Ma
  • Y.Y. Or

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.

Suggested Citation

  • Artie W. Ng & W.M. Wang & Benny C.F. Cheung & Ricky Ma & Y.Y. Or, 2017. "Cluster-based performance measurement system for emerging technology-based ventures," International Journal of Entrepreneurship and Innovation Management, Inderscience Enterprises Ltd, vol. 21(6), pages 485-508.
    • Handle: RePEc:ids:ijeima:v:21:y:2017:i:6:p:485-508
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