Stage-Based Alignment of Digital Technology Finance Platforms in University Science and Innovation Parks
Financing conditions faced by firms in university science and innovation parks change as the firms grow, and offering a uniform set of financial products can create a mismatch between supply and demand. Drawing on a corporate life-cycle perspective, this study compares Yingchuang Power in Chengdu with Tiankai Higher Education Innovation Park in Tianjin. The findings show that firms in the incubation stage primarily need technology information that outside investors can assess; firms in the acceleration stage require continuous operating data to improve financing assessment; and mature firms need platforms to connect them with industrial capital and collaborative networks. Stage-based alignment rests on data accumulated through actual service processes and on coordination among universities, government agencies, financial institutions, and park operators.
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