Frequently Asked Questions
- What is a research park?
The Association of Research Parks defines a university research park as a property-based venture, which:
- Master plans property designed for research and commercialization,
- Creates partnerships with universities and research institutions,
- Encourages the growth of new companies,
- Translates technology and
- Drives technology-led economic development.
- What is a business incubator?
Business incubators cultivate the growth of entrepreneurial companies, helping them survive and grow during the startup period, when they are most vulnerable.
- How is Science Park different from other research parks?
In addition to being a collaborative venture between Newark’s higher education institutions, the City and community of Newark, and private industry, University Heights Science and Technology Park is the co-founder of Science Park High School, created to prepare urban and minority students for career paths that require specialized knowledge and skills in math, science and technology.
As a science and technology park based in an urban setting, UHSTP was founded with the mission to improve the quality of life for the surrounding community by creating employment, educational, housing, childcare and business opportunities.
- Is Science Park a real estate organization or an economic development organization?
University Heights Science and Technology Park is an economic development organization and a 501c3 non-profit development corporation and foundation organization by the Council of Higher Education in Newark.
- How many incubators are housed within Science Park?
There are more than 90 incubator and service companies located in Science Park. These businesses are focused on various science and technology clusters such as [examples…biosciences and biotechnology, information and communications technology, environmental, medical research, and advanced manufacturing technology]
- How is Science Park funded?
The Park has been funded by its sponsoring institutions, state, city and federal funds and private foundations and corporations.