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

Artie W. Ng, W. M. Wang, Benny C.F. Cheung, Ricky Ma, Y. Y. Or

Research output: Journal article publicationJournal articleAcademic researchpeer-review

1 Citation (Scopus)


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.

Original languageEnglish
Pages (from-to)485-508
Number of pages24
JournalInternational Journal of Entrepreneurship and Innovation Management
Issue number6
Publication statusPublished - 1 Jan 2017


  • Performance measurement system
  • R&D
  • Resource allocation
  • Technology clusters
  • Technology-based ventures

ASJC Scopus subject areas

  • Business and International Management
  • Economics and Econometrics
  • Strategy and Management
  • Management of Technology and Innovation


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